Political Reform Act – Government Code Section 87505 Compliance
Statement of Economic Interests
The Political Reform Act of 1974 requires persons holding specified public offices to file disclosures of investments, real property interests, and income within specified periods of assuming or leaving office and annually while holding the office. Elected officials are required by State Law to file their Statements of Economic Interests – Form 700 with the City Clerk, who makes and retains a copy of each statement and forwards the original to the California Fair Political Practices Commission, which is the filing officer.
Every elected official and public employee who makes or influences governmental decisions is required to submit a Statement of Economic Interest, also known as the Form 700. The Form 700 provides transparency and ensures accountability in two ways:
- It provides necessary information to the public about an official’s personal financial interests to ensure that officials are making decisions in the best interest of the public and not enhancing their personal finances.
- It serves as a reminder to the public official of potential conflicts of interest so the official can abstain from making or participating in governmental decisions that are deemed conflicts of interest.
Copies of these statements may be obtained by visiting the City of Lomita City Clerk’s Office located at 24300 Narbonne Avenue, Lomita, CA 90717.
Campaign Disclosure Filings
The Political Reform Act of 1974 (Act) requires the filing of specified statements, reports and other documents by public officials, whether elected or appointed. Assembly Bill No. 2151 (Gallagher) approved by the Governor of California on September 28, 2020, added Government Code § 84616 to the Act. Effective January 1, 2021, local governmental agencies are required to post campaign statements and reports on their agency’s website, within 72 hours of each applicable filing deadline.
