CEO 77-139 -- August 24, 1977

FULL AND PUBLIC FINANCIAL DISCLOSURE

DISCLOSURE OF NAMES OF MORTGAGORS ON MORTGAGES HELD BY PUBLIC OFFICER

To: Wilma S. Sullivan, Leon County Supervisor of Elections, Tallahassee

Prepared by: Phil Claypool

SUMMARY:

The Sunshine Amendment to the Florida Constitution, s. 8, Art. II, defines full and public disclosure of financial interests to include "filing with the secretary of state by July 1 of each year a sworn statement showing net worth and identifying each asset and liability in excess of $1,000 and its value. . . ." Thus, the amendment requires not only that the value of a particular asset be disclosed, but also that the asset must be identified. One of the acknowledged purposes of financial disclosure is to provide members of the public with the opportunity to detect conflicts of interest on the part of public officials. Goldtrap v. Askew, 334 So.2d 20 (Fla. 1976). Therefore, it is the commission's opinion that each asset should be identified sufficiently to allow the public to ascertain with what persons or business entities the officer's personal financial interests lie. Where one is disclosing mortgages held which are valued in excess of $1,000, it is the commission's recommendation that the names of mortgagors be included in such disclosure.

QUESTION:

In filing full and public disclosure pursuant to s. 8, Art. II, State Const., should I disclose the names of mortgagors on mortgages I hold which are valued at more than $1,000?

Your question is answered in the affirmative.

In your letter of inquiry you advise that you are an elected county supervisor of elections and that some of your income is derived from mortgage payments from persons who have purchased small parcels of land from you for their residences. You also advise that in making full and public disclosure of your financial interests pursuant to s. 8, Art. II, State Const., you chose to number the individual mortgages held by you and to list the amount due on each mortgage rather than to disclose the name of each mortgagor.

The Sunshine Amendment, s. 8(a), Art. II, State Const., requires each elected constitutional officer to file full and public disclosure of his financial interests. Full and public disclosure of financial interests is defined in subsection (h)(1) to mean

filing with the secretary of state by July 1 of each year a sworn statement showing net worth and identifying each asset and liability in excess of $1,000 and its value . . . . [Emphasis supplied.]

Thus, the Sunshine Amendment requires not only that the value of a particular asset be disclosed, but also that the asset must be identified. Your question is whether you have sufficiently identified each mortgage for purposes of the amendment.

One of the acknowledged purposes of financial disclosure is to provide members of the public with the opportunity to detect conflicts of interest on the part of public officials. Goldtrap v. Askew, 334 So.2d 20 (Fla. 1976). Therefore, we are of the opinion that each asset should be identified sufficiently to allow the public to ascertain with what persons or business entities the officer's personal financial interests lie.

Accordingly, we recommend that you amend your full and public disclosure to include the names of mortgagors on mortgages held by you which are valued in excess of $1,000.