The provisions of this article are intended to ensure the public's trust and confidence that decisions of City officials and City employees are not contaminated by such City official's and City employee's personal financial interests. This article requires covered City officials and candidates for local public office to make certain financial disclosures.
[Amended 8-25-2009]
A. 
Every candidate for local public office shall file with the City Clerk a statement of financial interests for the preceding calendar year on or before the date on which a certificate of nomination or nomination papers for such candidate are submitted to the City Clerk. Every candidate for local public office who has not filed nomination papers with the City Clerk, but on whose behalf a statement of organization of a political committee has been filed with the Director of Campaign and Political Finance under MGL c. 55, § 5, and who is seeking public office by the so-called "write in" or "sticker" method, shall within three days after such filing file a statement of financial interests with the City Clerk.
B. 
Every covered City official shall file with the City Clerk a statement of financial interests for the preceding calendar year on or before the last Tuesday in May of the year in which such covered City official first enters such public office and of each year that such covered City official holds such office, and on or before May 1 of the year after such covered City official leaves such office; provided, however, that no covered City official shall be required to file a statement of financial interests for the year in which he/she ceased to be a City official or City employee if he/she served for fewer than 30 days in such year.
C. 
The City Clerk shall, upon receipt of a statement of financial interests pursuant to the provisions of this article, issue to the person filing such statement a receipt verifying the fact that a statement of financial interests has been filed and a receipted copy of such statement.
D. 
No covered City official shall be allowed to continue in his/her duties or to receive compensation from public funds unless he/she has filed a statement of financial interests with the City Clerk as required by this article.
E. 
The statement of financial interests filed pursuant to the provisions of this article shall be on a form prescribed by the City Clerk and shall be signed under penalty of perjury by the reporting person.
F. 
Information to be disclosed.
(1) 
Reporting persons shall disclose the following information for the preceding calendar year. Information required pursuant to Subsection F(1)(b), (c) and (f) below should be for the last day of the preceding calendar year.
(a) 
The name and address of, the nature of association with, and the share of equity in each business with which he/she is associated and from which he/she derives any income.
(b) 
The identity of all securities and other investments with a fair market value of greater than $1,000 which were beneficially owned, including any security which is issued by the commonwealth or any political subdivision thereof or any public agency or authority created by the General Court. (Mutual funds may be named without identifying each individual security contained within the fund.)
(c) 
The name and address of each creditor to whom more than $1,000 was owed and the original amount, the amount outstanding, the terms of repayment, and the general nature of the security pledged for each such obligation, except that the amount(s) borrowed and the amount(s) outstanding need not be reported for a mortgage on the reporting person's primary residence. In addition, obligations arising out of retail installment transactions, educational loans, medical and dental expenses, debts incurred in the ordinary course of business, and any obligation to make alimony or support payments need not be reported.
(d) 
The name and address of the source, and the cash value of any reimbursement for expenses aggregating more than $100 in the calendar year if the source of such reimbursement is a municipal agent; or if the recipient is an elected City official and the source of such reimbursement is a person having a direct interest in legislation, legislative action, or a matter before a City agency; or if the recipient is an appointed City official and the source of such reimbursement is a person having a direct interest in a matter before the City agency by which the recipient is employed.
(e) 
The name and address of the donor, and the fair market value, if determinable, of any gifts aggregating more than $100 in the calendar year, if the recipient is an elected City official and the source of such gift(s) is a person having a direct interest in legislation, legislative action, or a matter before a City agency; or if the recipient is an appointed City official and the source of such gift(s) is a person having a direct interest in a matter before the City agency by which the recipient is employed.
(f) 
The description, as appearing on the most recent tax bill, and the amount of assessed value of all real property located within the commonwealth, in which a direct or indirect financial interest was held, which has an assessed value greater than $1,000; and, if the property was transferred during the year, the name and address of the person furnishing consideration to the reporting person or receiving it from him in respect to such transfer.
(g) 
The name and address of the source of any honoraria aggregating more than $100 if the source of such honoraria is a municipal agent; or if the recipient is an elected City official and the source of such honoraria is a person having a direct interest in legislation, legislative action, or a matter before a City agency; or if the recipient is an appointed City official and the source of such honoraria is a person having a direct interest in a matter before the City agency by which the recipient is employed.
(h) 
The name and address of any creditor who has forgiven an indebtedness of over $1,000.
(i) 
The name and address of any business from which the reporting person is taking a leave of absence.
(j) 
The identity of any equity in a business with which the reporting person is associated which has been transferred to a member of the reporting person's immediate family; provided, however, that a member of the reporting person's immediate family need not report any such transfer to the reporting person.
(2) 
Nothing in this subsection shall be construed to require the disclosure of information which is privileged by law.
(3) 
Failure of a reporting person to file a statement of financial interests within 10 days after receiving notice as provided in this article, or the filing of an incomplete statement of financial interests after receipt of such a notice, is a violation of this article.