Financial Disclosure Statements Due Today

Financial disclosure statements are due today, April 30th. Under NJSA 40A:9-22.1 et seq., known as the Local Government Ethics Law, a financial disclosure statement must be filed by April 30th each year or within 30 days of taking office.

A Financial Disclosure Statement – or FDS – is a form that is required to be filled out annually by municipal elected officials, municipal officers, certain employees, contractors, and volunteers. These statements make information on the financial income of those who file – along with the income of immediate family members who live in the same household – publicly available.

The purpose of an FDS is to provide transparency to the public and assure standards of ethical conduct by having the public be aware any potential conflicts of interest with contractors, vendors, or any organizations or individuals who want to bid or do business with the municipality.

It also provides evidence of outside income if any municipal position or employment contract prohibits outside employment.

Failure to file by the given deadline can result in a violation and a fine that the individual, not the municipality, will be responsible to pay.

In previous years, there have been Roselle Park residents who did not file and had to personally pay a fine (link).

A review of financial disclosure statements can be found on the FDS Search page (link).