What is Form 700 Statement of Economic Interests?
- Every elected official and public employee who makes or influences governmental decisions is required to submit a Statement of Economic Interest, also known as the Form 700. The Form 700 provides transparency and ensures accountability in two ways:
- It provides necessary information to the public about an official’s personal financial interests to ensure that officials are making decisions in the best interest of the public and not enhancing their personal finances.
- It serves as a reminder to the public official of potential conflicts of interest so the official can abstain from making or participating in governmental decisions that are deemed conflicts of interest.
Who is required to complete Form 700?
- Every two years, the City Council adopts a new FPPC Model Conflict of Interest Code which included a list of designated employees that are required to file Form 700. If your position is listed within your department, you are required to file.
When should Form 700 be completed?
- If your position is listed as a designated employee, you will need to first file an Assuming Office statement within 30 days of employment. Once you have filed an Assuming Office Statement, you will be required to file annually as well as within 30 days of leaving your position.
Where should I submit my Form 700?
- Please submit your Form 700 to the City Clerk’s office. The City Clerk’s office will send you annual reminders, so please be sure to submit your form by the deadline the City Clerk provides you with.
Help! I can’t figure out how to complete my Form 700.
- While the City Clerk is your filing officer, we aren’t able to provide you with any legal advice on how to complete your form; however, the FPPC has an advice division and is happy to help guide you through your filing. Seeking informal advice from the FPPC offers you an opportunity to have simple questions answered by experienced staff, either by emailing firstname.lastname@example.org or by calling 1-866-ASK-FPPC (1-866-275-3772). Telephone advice is available Monday through Thursday from 9:00 a.m. to 11:30 a.m.
- Late penalties:
- Any person who files a Statement of Economic Interests (Form 700) after the deadline imposed by the Political Reform Act is liable for a late fine pursuant to Government Code Section 91013. Fines issued pursuant to this section shall not exceed $10 per day up to a maximum of $100.