All Borough officials shall annually file a financial disclosure
statement. The statements shall be filed with the Borough Clerk and
shall constitute an open public record. The statements shall contain
the following information:
A. Each source of income, earned or unearned, exceeding $2,000 received
by the Borough official or a member of his/her immediate family during
the preceding calendar year. Individual client fees, customer receipts
or commissions on transactions received through a business organization
need not be separately reported as sources of income. If a publicly
traded security is the source of income, the security need not be
reported unless the Borough official or member of his/her immediate
family has an interest in the business organization;
B. Each source of fees and honorariums having an aggregate amount exceeding
$250 from any single source for personal appearances, speeches or
writings received by the Borough official or a member of his/her immediate
family during the preceding calendar year;
C. Each source of gifts, reimbursements or prepaid expenses having an
aggregate value exceeding $400 from any single source, excluding relatives,
received by the Borough official or a member of his/her immediate
family during the preceding calendar year;
D. The name and address of all business organizations in which the Borough
official or a member of his/her immediate family had an interest during
the preceding calendar year; and
E. The address and brief description of all real property in the state
in which the Borough official or a member of his/her immediate family
held an interest during the preceding calendar year.
As used in this chapter, the following terms shall have the
meanings indicated:
BUSINESS ORGANIZATION
Any corporation, partnership, firm, enterprise, franchise,
association, trust, sole proprietorship, union or other legal entity.
INTEREST
The ownership or control of more than 10% of the profits,
assets or stock of a business organization, but shall not include
the control of assets in a nonprofit entity or labor union.