Being in Government "has led to a loss of identity and in turn a loss of support", according to the President of the Liberal Democrats.
MP Tim Farron suggests the past 19 months have been a miserable time - "particularly distressing", as he puts it - for the party.
He said: "Clearly we have not succeeded in communicating our message, which has led to a loss of identity and in turn a loss of support."
The message appears in the directory of the Lib Dem conference, taking place in Birmingham later this month. It's an official party document which will be handed out to delegates at Birmingham's ICC.
I was struck by how downbeat and unhappy he appeared to be.
Here's an extended extract: