Statements of Financial Interests - Some Common Questions

Certain questions on the Statement of Financial Interests generate a majority of queries to the Board of Ethics from employees filling out the form. While each employee's situation is unique, we present here a compiliation of questions that have consistently arisen. As always, this summary is only an overview intended to help City officials and employees develop a basic understanding of their responsibilities under the Ethics Ordinance. For authoritative guidance on specific questions, consultation with the Board of Ethics is recommended.

I have a part-time job as a security guard for a company that has a contract with the City. Last year, I made $7,500. Where do I report this?
Information regarding this job should be reported under Questions 2 and 3 of the FIS form. You were paid over $2,500, so you must report under Question 2, and you were paid over $5,000 for services rendered to a company that does business with the City, so you must also report under Question 3.

My husband is employed by a company that, to my knowledge, has no contracts with the City or its sister agencies. Do I have to report this?
No. Question 4 asks whether the spouse or domestic partner of an employee receives compensation in excess of $5,000.00 or services rendered to a company doing business with the City or its sister agencies. If your husband's company does not do business with these entities, you do not need to report it.
I own 50% of a company that sells supplies to Chicago restaurants. We do not do any business with the City or any sister agency. Do I have to report this?
Yes, you must report this under Question 7 and you may need to report this under Question 2. Question 7 asks if you have an ownership interest in a company conducting business in Chicago that entitles you to more than $2,500, is worth more than $5,000, or represents more than a 10% interest in the company. Your 50% ownership interest must be reported under Question 7, and if this interest is worth more than $2,500, it must also be reported under Question 2.
Last year, I sold some property, making a profit of over $20,000. Do I need to report this?
Maybe. Although Question 8 asks if you realized a capital gain of more than $5,000 from the sale of any asset, it specifically excludes the sale of your principal place of residence. However, if you realized a capital gain of more than $5,000 from the sale of property other than your principal residence, you must disclose the address or legal description.
My grandmother died and left me stock in several companies. I sold it and made a considerable profit. How do I answer Question 8?
If you realized a capital gain of more than $5,000 through the sale of any company's stock, you must name the stock.
Prior to our marriage, my wife bought a piece of property that is titled in her name only. How do I answer Question 9?
As long as your wife remains the sole title holder, you do not have to disclose her ownership of this property.