Press Release Archives #184-98 - Signs Bill that Increases the Threshold for City Employees Filing Annual Financial Disclosure Reports

Archives of the Mayor's Press Office

FOR IMMEDIATE RELEASE
Date: Monday, April 27, 1998

Release #184-98

Contact: Colleen Roche (212) 788-2958 or Jennifer Chait (212) 788-8479

MAYOR GIULIANI SIGNS BILL THAT INCREASES THE THRESHOLD FOR CITY EMPLOYEES FILING ANNUAL FINANCIAL DISCLOSURE REPORTS

--Remarks By Mayor Rudolph W. Giuliani At Public Hearing On Local Laws--

The third bill before me is Introductory Number 212, sponsored at my request by Council Members Pinkett and Wooten. This bill would amend the Administrative Code of the City of New York in relation to the annual disclosure of financial interests.

Specifically, this bill would increase the threshold salary for the filing of annual financial disclosure reports for officers and employees of City agencies from $64,200 to $66,100. The threshold increase was necessitated by certain raises provided to uniformed City employees, whose salaries are now above the minimum threshold required to file a financial disclosure report, but were never intended to be required to file such a report. Employees who are required to file for other reasons unrelated to the amount of their salary, such as the nature of the duties they perform, will not be affected by this bill.

This local law will take effect immediately and would require that City employees earning a salary of $66,100 or more on May first of each year file a financial disclosure report for the preceding calendar year.

For reasons previously stated, I will now sign the bill.

www.ci.nyc.ny.us