Fppc Form 700 - Statement Of Economic Interests - 2017/2018 Page 8
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23Questions and Answers
General
Q. My spouse and I are currently separated and in the
process of obtaining a divorce. Must I still report my
Q. What is the reporting period for disclosing interests
spouse’s income, investments, and interests in real
on an assuming office statement or a candidate
property?
statement?
A. Yes. A public official must continue to report a spouse’s
A. On an assuming office statement, disclose all
economic interests until such time as dissolution of
reportable investments, interests in real property, and
marriage proceedings is final. However, if a separate
business positions held on the date you assumed
property agreement has been reached prior to that
office. In addition, you must disclose income (including
time, your estranged spouse’s income may not have to
loans, gifts and travel payments) received during the 12
be reported. Contact the FPPC for more information.
months prior to the date you assumed office.
On a candidate statement, disclose all reportable
investments, interests in real property, and business
Investment Disclosure
positions held on the date you file your declaration of
Q. I have an investment interest in shares of stock in a
candidacy. You must also disclose income (including
company that does not have an office in my jurisdiction.
loans, gifts and travel payments) received during the
Must I still disclose my investment interest in this
12 months prior to the date you file your declaration of
company?
candidacy.
A. Probably. The definition of “doing business in the
jurisdiction” is not limited to whether the business has
Q. I hold two other board positions in addition to my
an office or physical location in your jurisdiction. See
position with the county. Must I file three statements of
Reference Pamphlet, page 13.
economic interests?
A. Yes, three are required. However, you may complete
Q. My spouse and I have a living trust. The trust holds
one statement listing the county and the two boards on
rental property in my jurisdiction, our primary residence,
the Cover Page or an attachment as the agencies for
and investments in diversified mutual funds. I have full
which you will be filing. Report your economic interests
disclosure. How is this trust disclosed?
using the largest jurisdiction and highest disclosure
A. Disclose the name of the trust, the rental property and
requirements assigned to you by the three agencies.
Make two copies of the entire statement before
its income on Schedule A-2. Your primary residence
signing it, sign each copy with an original signature,
and investments in diversified mutual funds registered
with the SEC are not reportable.
and distribute one original to the county and to each
of the two boards. Remember to complete separate
statements for positions that you leave or assume
Q. I am required to report all investments. I have an IRA
during the year.
that contains stocks through an account managed by
a brokerage firm. Must I disclose these stocks even
though they are held in an IRA and I did not decide
Q. I am a department head who recently began acting as
city manager. Should I file as the city manager?
which stocks to purchase?
A. Yes. Disclose on Schedule A-1 or A-2 any stock worth
A. Yes. File an assuming office statement as city
$2,000 or more in a business entity located in or doing
manager. Persons serving as “acting,” “interim,” or
“alternate” must file as if they hold the position because
business in your jurisdiction.
they are or may be performing the duties of the
position.
Q. As a designated employee, I left one state agency to
work for another state agency. Must I file a leaving
office statement?
A. Yes. You may also need to file an assuming office
statement for the new agency.
FPPC Form 700 (2017/2018)
FPPC Advice Email: advice@fppc.ca.gov
FPPC Toll-Free Helpline: 866/275-3772
Instructions – 4
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