The amendments to the LAEA now require candidate financial disclosures to be available on the local jurisdiction’s website in perpetuity.
The LAEA already contained requirements for how campaign surpluses must be handled. Changes clarify that these provisions also apply to candidates who have filed an intent to run but withdraw from an election.
In both circumstances, if the surplus is $1,000 or more the candidate has 60 days after filing the disclosure.
If a candidate has received campaign contributions, has self-funded their campaign, or has funded their campaign with a combination of self-funding and campaign contributions, the candidate is required to file a disclosure statement with the Municipality.
The campaign disclosure statement must include
- The total amount of all campaign contributions that did not exceed $50 in total from any single contributor.
- The contributor’s name and address, if the amount received from that contributor exceeds $50 in total.
- The total amount of all contributions received outside the campaign period, including those of the candidate.
- The total amount from fund-raising functions.
- The total amount of other revenue.
- The total amount of campaign expenses.
- An itemized campaign expense report.
- The total amount of money paid by the candidate.
- The total amount of any campaign surplus, including any surplus from previous campaigns.
- The amount of any deficit.
A candidate who has incurred campaign expenses or received campaign contributions of $50,000 or more must file a review engagement with their disclosure statement.
A candidate who withdraws their nomination at any time during the nomination period is required to file their disclosure statement by the deadline of March 1, 2026.
If the candidate’s disclosure statement shows a surplus, the candidate must donate any surplus amount that is $1000 or more to a registered charity within 60 days after filing their disclosure statement and may retain any surplus amount that is under $1000.
If the candidate’s disclosure statement shows a deficit, the candidate must eliminate any deficit within 60 days after filing their disclosure statement.
If a candidate becomes aware of any information reported in the disclosure statement or the review engagement has changed or has not been completely or accurately disclosed, the candidate must submit a supplementary statement within 30 days.
A candidate who does not file the disclosure statement by the legislated deadline will be ineligible for nomination for any municipal election for a period of up to 10 years. Elected Council members would be disqualified from Council.
All disclosure statements and supporting documents are available for public viewing during regular business hours for a period of four years after the election.