Financial Disclosure Report

Overview

Pursuant to §12-110 of the New York City Administrative Code and Chancellor’s Regulation C-120 – Disclosure of Financial Interests Reports, certain Department of Education employees are required to file annual Financial Disclosure Reports with the Conflicts of Interest Board (COIB).

A Financial Disclosure Filer is an employee who has been identified by the DOE as:

• A member of the Management Pay Plan (MPP)
• An employee whose duties at any time during the preceding calendar year involved the negotiation, authorization, or approval of contracts, leases, franchises, concessions, and applications for variances and special permits. The foregoing does not apply to employees represented by union contracts.
• Attorneys employed in the Commercial Unit of the Office of Legal Services
• Investigators and attorneys in the Office of Special Investigations
• Confidential Investigators

COIB Financial Disclosure Termination Report

Employees who are required to file annual Financial Disclosure reports are also required to file a Financial Disclosure Termination Report upon final separation from employment with the DOE. Financial Disclosure Termination Reports must be filed within 60 days of the last day of DOE service. The managerial lump sum payment will not be released to an employee until the DOE has confirmation that the Financial Disclosure Termination Report has been filed. Employees transferring to another New York City government agency do not need to complete a termination report.

COIB Financial Disclosure Termination Report - Employee Process

DOE employees leaving DOE service who are designated Financial Disclosure Filers must notify the DOE Ethics and Conflicts of Interest Coordinator no more than one month before their last date of service.

Filers must include the following information in their request to the DOE Ethics and Conflicts Coordinator:

• Employee ID Number (Reference number on paycheck)
• Social Security Number (only the last four digits)
• Last date of Employment
• Personal Email (Required for DOE notifications)

The Ethics Coordinator will contact an employee and provide information on how to retrieve the password from COIB. After an employee has submitted a final report, they must notify the Ethics Coordinator. DOE will retrieve the necessary compliance certifications from COIB and the Department of Investigation (DOI) and send the statement of compliance directly to DOE’s Managerial Lump Sum Unit.

Penalties

Failure to file a Financial Disclosure Annual report or Termination Report within the time limits established by the Annual Disclosure Law may result in disciplinary action including termination of employment and fines imposed by COIB. Failure to file a report is also a misdemeanor.

COIB may seek to assess civil penalties for intentional violation of Section 12-110 of the Administrative Code, including but not limited to failure to file, failure to include assets or liabilities, and misstatement of assets or liabilities, in an amount not to exceed $10,000.

The DOE Ethics Office manages the Financial Disclosure process at the Department of Education and is the liaison to the Conflicts of Interest Board (COIB).

Please address any questions regarding the filing requirements to: DOE Ethics Officer.