GEC - Financial Disclosure Statements

PUBLIC OFFICIAL FINANCIAL DISCLOSURE ACT
Pursuant to P.L. 17-7, a candidate who is not an official must file a financial disclosure statement with the Guam Election Commission.

The term “Official” means any person elected to any public office in Guam and any person appointed with legislative concurrence or by the Legislature, to any public office. This includes but is not limited to:


  1. all elected officials;

  2. officials appointed by the Governor whose appointment is subject to the consent of the Guam Legislature, except ex-officio and student members of Boards and Commissions in their capacity as members of such Boards and Commissions; and

  3. the chief executive officers, by whatever title they may be known, of all agencies and instrumentality of the government of Guam, whether or not confirmation by the Guam Legislature is required.
The term “Candidate” means a candidate to any public office.

The term “Gift” means something of value voluntarily transferred from one party to another without compensation or monetary consideration.

The term “Fund” means a sum of money or other material resources available for the use of an official or candidate or anyone acting on his behalf.

The term “Asset” means an item of value owned or in which exists a beneficial interest.
 
Download the Financial Disclosure Form
 
When to File the Financial Disclosure Statement
Each official shall file with the Guam Election Commission, on or before April 22 of each calendar year, a written report containing the information required by this Chapter covering the preceding calendar year (or other year if the individual official files a Guam Income Tax Return covering a period other than the calendar year). Each candidate who is not an official shall file with the Guam Election Commission on the date he files his petition for candidacy, a written report containing the information required by this Chapter covering the preceding calendar year (or other year if the individual official files a Guam Income Tax Return covering a period other than the calendar year). The Executive Director of the Guam Election Commission shall grant extensions for the filing of reports herein required by officials; provided, however, that such extension shall not exceed one hundred eighty (180) days beyond April 22 of each calendar year.

The above-mentioned report shall be verified in the manner permitted by 6GCA4308 (Unsworn Declarations Under Penalty of Perjury).

All reports required to be maintained under this section shall be maintained by the Guam Election Commission as public records available for inspection. Copies of the reports shall be furnished to the public, upon the payment of reasonable copying fees. The Executive Director of the Guam Election Commission shall issue a certificate certifying that an official or candidate has filed his report as required by this Chapter.
 
Penalty for Failure to File the Financial Disclosure Statement
Any official or candidate who fails to file a report required by this Chapter, or who knowingly and willfully files a false report under this Chapter shall be fined not more than One Thousand Dollars ($1,000) or imprisoned for a period of time not to exceed one (1) year, or both.

In addition, any violation of this Act shall preclude an individual from holding public office. The Guam Election Commission shall report to the Attorney General for appropriate action the name of any official or candidate who fails to file a report required by this Chapter, or who in his professional judgment has knowingly filed a false report. This section shall not be construed to permit prosecution of a person who has unintentionally filed an erroneous report, which report shall be subject to correction.