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Statement of Economic Interest

A Statement of Economic Interest disclosure is required to be submitted by all William & Mary Board of Visitors Members, Executive Employees of the university, and other designed university employees pursuant to §2.2-3114 of the Code of Virginia as a condition of assuming their appointment or employment, and then annually by February 1. The Office of Compliance & Equity notifies individual employees in December each year to confirm this requirement and deadline.

There can be consequences for violations of the conflict of interests' filing requirements. (See Va. Code, § 2.2-3120 et seq.) Any person who does not file or who knowingly files the Statement of Economic Interests form inaccurately will be charged with a Class 1 Misdemeanor which is punishable by no more than 12 months in jail and a fine of no more than $2,500. A local official who knowingly files the form inaccurately will be charged with a Class 3 misdemeanor which is punishable by a fine of no more than $500. Any person who knowingly files the form inaccurately may also be dismissed from office or employment. Because the language of these acts is complex an employee may need the assistance of his/her personal attorney in completing the statement. Employees may seek advisory opinions from the Attorney General on the Conflict of Interest Act.

Employees and Board members subject to the State and Local Government Conflict of Interest Act must also complete the State Ethics Council's online training every two years. The Office of Compliance & Equity assigns training to new appointees and employees to be completed within the first 60 days of employment. Biennial training is reassigned to everyone in December of odd number years.

For specific questions about definitions and required disclosures, please contact OC&E at [[compequity]] or visit the State Ethics Council's frequently asked questions resource. Board members may contact Jessica Walton, Deputy Secretary of the Board & Budget Manager, at [[jlwalton]].