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Code of ethics bill contains financial disclosure requirements f.egislatlon to establish a statewide code of ethics contains provisioos requiring city officials and other state and local elected and appointed officials to file annual financial disclosure statements and to submit written statements on potential Conflicts Ofinlelest. Below is an outline of the financial disclosare requirements. Senator John Marty has asked city off. cials to examine and offer specific sug- gea:Oos or mudifications of the fmrtan- cial disclosure requirements contaioed in S. F.S, which he has authored. Those comments and reactions will provide important information in upcoming leg- islative deliberations on mhesc financial disclos,ae reruinerzrits. Pl- r•nd your comments to 9n !,.AC office to the attention of Ann Higgins. Statements of financial interest must be filed with the State Ethics Board by 4_- April 30 of each year in which public (both elected and appointed) officials hold office as of the first Monday in January. Officials who take office after that date must comply within 30 days of the date on which they take office or by April 30. whicheveris later. All officials who areelected, appointed, oremoloyed by a the city are covered by these re- quirements. This includes pastime appointments, employrnem, or those tired under contract. k,_. Officials must disclose their own finan- cial interests as well as those of mem- bers of heir immediate family, namely spouse, minor chBd (rr stepchild) of the official or official's spouse. Officials must report either the exact amount of the financial interest or an approximate amount asdefined in one of six financial categories, ranging from'he minimum category, amounts less tbao S5,000 to a final category ofamosnts ofS120,000or more. The following information must be in- I debts exceeding $5,000 (except a eluded in statements of financial interest Mortgage on homeste?d pmpeny) as well for public officials: as names and addresses of creditors, terms of repayment and nature of Cal iat- • the source, nature, and amount of eral pledged except debts owned to compeosadoa received from the city (andt members of be immediate family; or other governmental unit); I the scurce, nature and, for the official reporting only, the amount of compensa- tion orothermoothiy income of substan. tial value received from an association; Association means a burinesr, !abor organization, club or anywher group of two or more persons (other than mem- bets of the immedime family) acting in concert. • the source, nature, and, for the official reporting only. the amount of income from securities that exceeds SI,000 ur from invesuneuts in a single entity or from any other single source; I the sou(cc, and, for the official report- ing only, the amount of any honorarium of substantial value fa any form) for a speech, appearance, article orother pub- lication or writing; I the identity of all securities from a single source or investments in a sole entity with a fair market value of more Man S 1,000 owned and of benefit to the Official required to file the report; I the name and address of donors of a gift or gifts in total whict have substan. dal value, including gifts of lodging, food, and entertainment (except gifts from the recipient's extended famify); I the amount of consultant or profes- sional fees received from a unit of gov- emment or association; I the amount and nature of real estate interests within the state, except home- steaded property or property owned in partnership, as well as the location and nature of the property: I the name and address of one creditor who has forgiven a debt of more than S5,000; I the Dame and address of any business from which the official :s taking a leave ofabsence; I the identify of any ownership value in a business with which an official is, or, within the period covered by the report, has been associated (which has then been transferred to another); I any business relationship with a lob. byist. Please consider these financial interest statement requirements in the legisla- •ioo and indicate to what extent yourcity oow requires such finencial interest reporting. Please let Ann Higgins know how these requirements would affect the level of financial disclosure currently required by city ordinance car code of ethics in your city. If your city has financial disclosure re- quirements that apply to local elected andtor appointed officials, please send a copy to the LMC Office to the attention of Ann Higgins. If your city does not require financial disclosure statements, how would city officials view these requirements as the standards for disclosure at the local level? What changes would you suggest? Next week the conflict of interest prov` - sious of S.F. 5, ethics in govcrrunent legislation will be outlined. AH January 20, 1989 page 13