Center for the Study of Ethics in the Professions at IIT

2-156-150 Statements of Financial Interest.

(a) For purposes of this article, the following persons shall be referred to as "reporting individuals":

(i) each elected official; and

(ii) each alderman; and

(iii) each appointed official, except a member of an agency that is solely advisory in nature and has no authority to make binding decisions, to enter into contracts or to make expenditures, other than expenditures necessarily incurred for research in connection with its advisory functions; and

(iv) each employee who is compensated for services or occupies a budgeted position as an employee at a rate of $50,000 per year or more, but not including those employees whose base salary is less than $50,000 per year but who earn more than $50,000 per year due to compensation for overtime hours worked; and

(v) each employee who is compensated for services as an employee at a rate of less than $50,000 per year for such employment, and also receives additional compensation either for professional services rendered to, or as an independent contractor for, the City in such an amount that his total income for services to the City is $50,000 per year or more.

(b) on or before January 1st of each year, beginning in 1994, the Board of Ethics shall issue a statement indicating the rate of compensation that will require reporting under this section. Such statement shall be based upon the Annual Average of the U.S. City Average Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) published by the U.S. Department of Labor, Bureau of Labor Statistics. The statement issued by the Board each year shall reflect the percent change that occurred between the most recently published Annual Average of the CPI-W and the Annual Average published in the previous year. Provided, however, that any change in excess of four percent shall not be reflected in the Board's statement, unless approved by the City Council.

(c) Each reporting individual shall file by May 1st of each year a verified written statement of financial interests in accordance with the provisions of this article, unless he has already filed a statement in that calendar year. However, an alderman shall file statements of financial interests with the office of the City Clerk.

(d) Statements of financial interests shall also be filed by the following:

(i) an elected official at the time of filing his oath of office;

(ii) a person whose appointment to office is subject to confirmation by the City Council at the time when his name is submitted to the Council for consideration;

(iii) any other person at the time he becomes a reporting individual, including City employees who become reporting individuals because they are newly hired or are receiving a pay increase, or a job or title change.

(e) The Department of Personnel, the Comptroller's Office and the Office of the Mayor shall cooperate with the Board of Ethics in notifying persons listed in subdivisions (ii) and (iii) of subsection (d) of this section of their obligation to file statements of financial interests and in effecting the filing of such statements.

(f) No appointed official or employee shall be allowed to take the oath of office or enter or continue his duties, nor shall receive compensation from the City, unless he has filed a statement of financial interests with the Board of Ethics as required by this chapter.

Approved: January 12, 1993 Effective: January 12, 1993