The New York City Campaign Finance Board is considering whether to allow public matching funds for mayoral candidate John Liu (loo).

The board went into deliberations Monday after hearing from the Democrat’s lawyer.

A decision to deny the funding would be a severe financial blow.

Liu, who’s the city comptroller, has said he’s complied with all requirements in his quest to become New York City’s first Asian-American mayor.

He’s had to contend with the recent convictions of a former campaign worker and a former fundraiser on charges of scheming to circumvent donation limits. Liu was never charged with any wrongdoing.

His lawyer told the board that it’s no secret there were problems in the campaign in 2011. But Martin Connor says that sometimes, when there’s smoke, there is “no fire.”

(AP)