What is a Statement of Economic Interest, Form 700 (“SEI”)? A “SEI”, also known as a Conflict of Interest Statement, is a public document which public officials and certain designated city employees, including consultants and certain appointed board and commission members use to disclose certain financial interests, as required.
Why do I file an SEI? There are two types of filers: 1) 87200 filers whose positions are listed in Gov. Code Section 87200 and 2) designated officials who hold certain designated positions. SEI maintains that filers perform their duties in an impartial manner, free from bias caused by their own financial interests.
If a designated employee promotes or transfers, must they file an assuming/leaving office statement? Changing positions to a like designated position does not trigger a leaving and/or assuming office statement. Continue filing annual statements.
When do I file an assuming office statement? Within 30 days from the date you assumed office.
When do I file a leaving office statement? Within 30 days from the date you leave office.
When do I file an annual statement? Anytime after the first of a new calendar year. Annual statements are due no later than April 1 of each calendar year. If an individual assumes office between October 1 and December 31 and filed an assuming office statement, they are not required to file the next annual statement.
Are there any penalties for failure to file? Yes. Late statements are subject to a $10 per day late fine, up to a maximum of $100.
Is there a fee for copies of filed Forms? Yes. The city follows the cost set forth by the FPPC - 10 cents per page or $5 per request for statements of five or more years old.