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HomeNewsArchivesFINANCIAL REPORTS NOT ON TIME WILL BRING FINE

FINANCIAL REPORTS NOT ON TIME WILL BRING FINE

The territory's elected officials are required by law to file quarterly financial disclosure reports detailing what campaign contributions they have received and what they have done with the income. The next one is due Dec. 31.
Beginning Jan. 1, thanks to new rules governing the V.I. Elections System, officials who fail to file their reports on time will be subject to a fine of $10 per day — up to a maximum of $500 — until they comply. And if anyone hasn't done so at the end of 50 days, elections supervisor John Abramson says, he has the authority to institute legal action.
In addition to the quarterly reports, Abramson says, elected officials will henceforth have to submit annual financial reports audited by a Certified Public Accountant.
By law, individuals and corporations may contribute no more than $1,000 to any politician, whether in office or declared as a candidate. The new regulations, proposed by Abramson and signed off on by Gov. Charles Turnbull and Lt. Gov. Gerard Luz James II, require the reporting not only of cash contributions but also of goods and services with a market value of $100 or more.
Politicians will be able to file their campaign disclosure statements to the Supervisor of Elections Office electronically via e-mail. Any registered Virgin Islands voter is entitled to view the disclosure records.

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