The California 700 U form is a statement of economic interests required for individuals at the University of California (UC) or California State University (CSU) who have principal responsibility for a research project funded by non-governmental entities. This form helps ensure transparency and accountability in research funding by requiring the disclosure of financial interests, income, loans, and gifts related to the project. If you need to fill out this important form, please click the button below.
The California 700 U form is a crucial document for individuals employed by the University of California (UC) or California State University (CSU) who hold principal responsibility for research projects funded by non-governmental entities. This form serves to disclose various financial interests, ensuring transparency and compliance with state regulations. It requires filers to report investments, income, loans, and gifts that meet specific thresholds, thereby providing a clear picture of potential conflicts of interest. For instance, any investment totaling $2,000 or more must be reported, including stocks and bonds. Similarly, income received from these entities, particularly if it exceeds $500, must be disclosed. The form also addresses loans and gifts, stipulating that any gift valued at $50 or more must be reported, regardless of its eventual use. Understanding the nuances of the 700 U form is essential, as failure to file or report accurately can lead to significant penalties, including civil liability and university disciplinary actions. By adhering to these reporting requirements, researchers not only uphold ethical standards but also contribute to the integrity of the academic environment.
Instructions for Completing Form 700-U
CALIFORNIAFORM 700-U
Who Files Form 700-U?
This form must be iled by all persons employed by UC or CSU who have principal responsibility for a research
project if the project is to be funded or supported, in
whole or in part, by a contract or grant (or other funds earmarked by the donor for a speciic research project or for a speciic researcher) from a nongovernmental entity.
Reporting requirements are outlined in Regulation 18755.
This regulation provides that research funding by certain nonproit entities will not trigger disclosure. This regulation is available on the FPPC website.
What is an Investment?
“Investment” means any inancial interest in a business entity in which you, your spouse or registered domestic
partner, or your dependent children have a direct, indirect, or beneicial interest totaling $2,000 or more. Reportable investments include stocks, bonds, warrants,
and options, including those held in margin or brokerage accounts and investment funds. Common examples of investment funds are index funds, exchange-traded funds, and venture capital funds. (See Gov. Code Section 82034.)
What is Income?
“Income” means a payment received, including but not limited to any salary, wage, advance, dividend, interest, rent, proceeds from any sale, gift, including any gift of food
or beverage, loan forgiveness or payment of indebtedness received by the iler, reimbursement for expenses, per diem,
or contribution to an insurance or pension program paid by any person other than an employer, and any community property interest in income of a spouse or registered domestic partner. Income also includes an outstanding loan. Income of an individual also includes a pro rata share of any income of any business entity or trust in which the
individual, spouse, or registered domestic partner owns directly, indirectly, or beneicially, a 10% interest or greater.
Income includes your gross income and your community property interest in your spouse’s or registered domestic partner’s gross income totaling $500 or more. Gross income is the total amount of income before deducting expenses, losses, or taxes. (See Gov. Code Section 82030.)
What is a Loan?
Loans received or outstanding are reportable if they total $500 or more from a single lender. Your community property interest in loans received by your spouse or registered domestic partner also must be reported. (See Gov. Code Section 82030(a).)
What is a Gift?
A gift is anything of value for which you have not provided equal or greater consideration to the donor. A gift is reportable if its fair market value is $50 or more. In addition, multiple gifts totaling $50 or more received from a reportable source must be reported.
It is the acceptance of a gift, not the ultimate use to which it is put, that imposes your reporting obligation. Therefore you must report a gift even if you never used it or if you gave it away to another person.
If the exact amount of a gift is not known, you must make a good faith estimate of the item’s fair market value. Listing the value of a gift as “over $50” or “value unknown” is not adequate disclosure.
Commonly reportable gifts include:
•Tickets/passes to sporting or entertainment events
•Tickets/passes to amusement parks
•Parking passes
•Food, beverages, and accommodations, including that provided in direct connection with your attendance at a convention, conference, meeting, social event, meal, or like gathering, where you did not give a speech, participate in a panel or seminar, or provide a similar service
•Rebates/discounts not made in the regular course of
business to members of the public without regard to oficial status
•Wedding gifts
•An honorarium. You may report an honorarium as income rather than as a gift if you provided services of equal or greater value than the payment received.
•Transportation and lodging
•Forgiveness of a loan received by you
(See Gov. Code Section 82028.)
FPPC Form 700-U (2008/2009) FPPC Toll-Free Helpline: 866/ASK-FPPC www.fppc.ca.gov
CALIFORNIA 700-U FORM
FAIR POLITICAL PRACTICES COMMISSION
Please type or print in ink.
STATEMENT OF ECONOMIC INTERESTS
FOR
PRINCIPAL INVESTIGATORS
Date Received
Campus Use Only
Campus:
ID No:
NAME (LAST)(FIRST)(MIDDLE)TELEPHONE NUMBER
(
)
ACADEMIC UNIT OR DEPARTMENT
MAIL CODE
E-MAIL ADDRESS
TITLE OF RESEARCH PROJECT
1. Information Regarding Funding Entity:
(Use a separate Form 700-U for each funding entity.) Name of Entity:
Address of Entity:
Principal Business of Entity:
Amount of Funding: $
Estimated
Actual
2.Type of Statement (Check at least one box) Initial (for new funding)
Date of initial funding:
/
Interim (for renewed funding)
Funding was renewed on:
3.Filer Information
A.Are you a director, oficer, partner, trustee, consultant, employee, or do you hold a position of management in
the entity listed in Part 1?
No
Yes
Title:
B.Do you, your spouse or registered domestic partner, or
your dependent children have an investment of $2,000 or more in the entity listed in Part 1 above?
– value is:
$2,000 - $10,000
$10,001 - $100,000
$100,001 - $1,000,000
Exceeds $1,000,000
If you have sold or divested yourself of investments:
Date Divested:
C.Have you received income of $500 or more from the entity listed in Part 1 during the reporting period?
No Yes
$500 - $1,000
$1,001 - $10,000
Exceeds $100,000
Was income received through your spouse or registered
domestic partner?
3. Filer Information - CONT.
D.Have you received loans from the entity in Part 1 for which the balance exceeded $500 during the reporting period?
– highest balance:
Exceeded $100,000
If you checked “yes,” was the loan:
Secured
Unsecured Interest rate:
%
Was the loan entirely repaid within the last 12 months?
E.Have you received gifts from the entity listed in Part 1 within the last 12 months valued at $50 or more?
– describe below.
Description:
Value: $
Date Received:
F. Has the entity in Part 1 paid for your travel?
Type of Payment: (check one)
Gift
Income
Amt: $
date(s):
(If applicable)
4. Veriication
I have used all reasonable diligence in preparing this statement. I have reviewed this statement and to the best of my knowledge the information contained herein and in any attached schedules is true and complete. I certify under penalty of perjury under the laws of the State of California that the foregoing is true and correct.
Date Signed
(month, day, year)
Signature
(File the originally signed statement with your university.)
The Form 700-U is for university use only.
FPPC Form 700-U (2008/2009)
This statement is a public record under Gov. Code Section 81008(a).
FPPC Toll-Free Helpline: 866/ASK-FPPC www.fppc.ca.gov
Instructions for Completing Form 700-U (continued)
What is a Travel Payment?
Travel payments include advances and reimbursements for travel and related expenses, including lodging and meals.
•Travel payments are gifts if you did not provide services which were equal to or greater in value than the payments received. You must disclose gifts totaling $50 or more from a single source during the period covered by the statement. Gifts of travel are reportable without regard to where the donor is located.
When reporting travel payments which are gifts, you must provide a description of the gift and the date(s) received.
Effective August 15, 2008, Regulation 18946.6 provides new valuation methods for gifts of air transportation.
•Travel payments are income if you provided services which were equal to or greater in value than the payments received. You must disclose income totaling $500 or more from a single source
during the period covered by the statement. The iler has the burden of proving the payments are
income rather than gifts.
When reporting travel payments as income, you must describe the services you provided in exchange for the payment. You are not required to disclose the date(s) for travel payments which are income.
Gifts of travel may be subject to a $420 gift limit. In
addition, certain travel payments are reportable gifts, but are not subject to the gift limit. See the FPPC fact sheet entitled “Limitations and Restrictions on Gifts, Honoraria, Travel, and Loans,” which can be obtained from the FPPC at www.fppc.ca.gov.
You are not required to disclose:
•Travel payments received from any state, local, or federal government agency for which you provided services equal or greater in value than the payments received
•Travel payments received from your employer in the normal course of your employment
•Payments or reimbursements for transportation within California in connection with an event at which you gave a speech, participated in a panel or seminar, or performed a similar service
•Food, beverages, and necessary accommodations received directly in connection with an event held inside or outside California at which you gave
a speech, participated in a panel, or provided a similar service (note that payments for transportation outside of California are reportable)
•A travel payment which was received from a nonproit entity exempt from taxation under IRS Code Section 501(c)(3) for which you provided equal or greater consideration
Check the box to indicate if the payment was a gift or income, report the amount, and disclose the date(s) if applicable.
Violations
Failure to ile the required Statement of Economic Interests or failure to report a inancial interest may
subject a principal investigator to civil liability, including ines, as well as University discipline. (Gov. Code Sections 81000-91014)
Privacy Information Notice
Information requested on all FPPC forms is used by the FPPC to administer and enforce the Political Reform Act (Gov. Code Sections 81000-91014 and Regulations 18109-18997). All information required by these forms is mandated by the Political Reform Act. Failure to provide all of the information required by the
Act is a violation subject to administrative, criminal or civil prosecution. All reports and statements provided are public records open for public inspection and reproduction.
If you have any questions regarding this Privacy Notice
or how to access your personal information, please
contact the FPPC at:
General Counsel
Fair Political Practices Commission 428 J Street, Suite 620 Sacramento, CA 95814
(916) 322-5660
Filling out the California 700 U form is a straightforward process, but it requires careful attention to detail. Make sure you have all necessary information at hand before you start. Below are the steps to guide you through the completion of the form.
Once you have completed the form, ensure it is submitted on time to avoid any penalties. Keep a copy for your records. This will help you stay organized and prepared for any future disclosures.
The California 700 U form must be filed by individuals employed by the University of California (UC) or California State University (CSU) who have principal responsibility for a research project. This requirement applies if the project receives funding or support, in whole or in part, from a contract, grant, or other funds from a nongovernmental entity.
An investment refers to any financial interest in a business entity that you, your spouse, registered domestic partner, or dependent children have, totaling $2,000 or more. This includes stocks, bonds, warrants, and options, whether held in brokerage accounts or investment funds. Examples of investment funds include index funds and venture capital funds.
Income is any payment received, which can include salaries, wages, dividends, interest, and even gifts. If you receive a gift worth $50 or more, it must be reported. Additionally, if you have a community property interest in your spouse’s income, that must also be included if it totals $500 or more.
Loans are reportable if they total $500 or more from a single lender. This includes your community property interest in loans received by your spouse or registered domestic partner. If you have received a loan that exceeds this amount, you must disclose it on the form.
A gift is defined as anything of value that you receive without providing equal or greater consideration to the donor. If the fair market value of the gift is $50 or more, it must be reported. Common examples include tickets to events, meals, or any other items of value received.
Travel payments include advances and reimbursements for travel-related expenses, such as lodging and meals. If you did not provide services equal to the value of these payments, they are considered gifts and must be reported. If you did provide such services, they are classified as income, and you must describe the services rendered.
Failure to file the required Statement of Economic Interests can lead to civil liability, including fines, and possible university disciplinary action. It is crucial to comply with the filing requirements to avoid these consequences.
Yes, there are exceptions. You do not need to report travel payments from government agencies if you provided services equal to the payment value. Additionally, payments for transportation within California related to events where you provided a service are not reportable.
When reporting gifts, you must provide an accurate estimate of their fair market value. Listing a gift as "over $50" or "value unknown" is insufficient. You should make a good faith estimate based on the item’s worth.
For more details, you can visit the Fair Political Practices Commission (FPPC) website at www.fppc.ca.gov. They provide resources, guidelines, and a toll-free helpline for any questions you may have regarding the form and its requirements.
Inadequate Disclosure of Gifts: Many individuals fail to accurately report gifts valued at $50 or more. It's crucial to provide a precise fair market value. Listing values as “over $50” or “value unknown” does not meet the requirements.
Misunderstanding of Income Reporting: Some filers mistakenly believe that only salary needs to be reported. Any payment received, including gifts, reimbursements, and loan forgiveness, must be disclosed if they total $500 or more.
Neglecting to Report Investments: Individuals often overlook investments held by their spouse or dependent children. If these investments total $2,000 or more, they must be reported, regardless of who holds them.
Incorrect Classification of Travel Payments: Filers sometimes confuse travel payments as gifts rather than income, or vice versa. It's essential to determine if services were provided in exchange for the payment, as this affects how it should be reported.
The California Form 700-U is a critical document for individuals involved in research projects funded by non-governmental entities. It serves to ensure transparency and accountability regarding financial interests and relationships. However, several other forms and documents are often used in conjunction with the 700-U to provide a comprehensive view of financial disclosures and obligations. Below is a list of these related documents.
Understanding and utilizing these forms and documents is crucial for maintaining compliance with California's financial disclosure laws. Failing to file these documents accurately can lead to significant legal repercussions, including fines and disciplinary actions. Therefore, it is imperative for individuals involved in research and public service to be diligent in their reporting obligations.
The California Form 700 is similar to the California Form 700-U in that both documents are used to disclose financial interests and potential conflicts of interest for individuals in public service roles. The Form 700 is typically filed by public officials, while the 700-U is specifically for principal investigators at the University of California or California State University who receive funding from non-governmental sources. Both forms require the disclosure of investments, income, gifts, and loans, ensuring transparency and accountability in financial dealings.
The California Form 700-S is another document comparable to the 700-U. This form is designed for state officials and employees who are required to report their financial interests and sources of income. Similar to the 700-U, the 700-S includes sections for reporting gifts, loans, and investments. The primary distinction lies in the audience; while the 700-U focuses on university researchers, the 700-S applies to broader state officials, creating a unified approach to financial disclosures across different government sectors.
The Federal Form 278 is akin to the California Form 700-U in that it requires federal officials to report their financial interests and potential conflicts of interest. This form serves a similar purpose at the federal level, ensuring that officials disclose relevant financial information. Both forms emphasize transparency and aim to prevent conflicts of interest, although the 278 is specifically tailored for federal employees and officials, while the 700-U is intended for university researchers receiving external funding.
The California Form 700-W is also similar to the 700-U, as it is used by local officials and candidates for office to disclose their financial interests. Like the 700-U, it requires detailed reporting of investments, income, gifts, and loans. Both forms are designed to maintain transparency in public service; however, the 700-W is specifically for local government officials, while the 700-U is focused on university researchers involved in funded projects.
The California Form 700-AB is comparable to the 700-U as it is used by members of the California State Board of Equalization. This form requires the disclosure of financial interests and potential conflicts of interest, similar to the requirements of the 700-U. Both forms aim to promote transparency in public service, although the 700-AB is tailored for a specific board that oversees tax and fee assessments in California.
The Statement of Economic Interests for the California Fair Political Practices Commission (FPPC) is another document that shares similarities with the 700-U. This statement is required for individuals involved in political campaigns and public office, necessitating the disclosure of financial interests, gifts, and income. Both documents aim to ensure that individuals in positions of authority maintain transparency regarding their financial dealings, although the FPPC statement is focused on political contexts while the 700-U is specific to university research funding.
Lastly, the California Form 700-2 is similar to the 700-U in that it is used by certain public officials to disclose financial interests in real estate. This form requires reporting of real property interests, gifts, and income, similar to the requirements found in the 700-U. Both forms emphasize the importance of transparency and accountability in financial matters, although the 700-2 specifically addresses real estate interests, while the 700-U focuses on research-related funding and interests.
When filling out the California 700 U form, it's important to be thorough and accurate. Here’s a list of things you should and shouldn’t do:
Completing the California 700 U form accurately helps maintain transparency and compliance with state regulations. Take your time, double-check your entries, and ensure you meet all reporting requirements.
Understanding the California Form 700-U is crucial for those involved in research projects funded by non-governmental entities. However, several misconceptions can lead to confusion. Here are six common misunderstandings about this form:
Being aware of these misconceptions can help ensure proper compliance with the reporting requirements associated with the California Form 700-U. Understanding your obligations is the first step toward fulfilling them effectively.
The California 700-U form is mandatory for all individuals employed by UC or CSU who lead research projects funded by non-governmental entities.
Understanding the definition of "investment" is crucial. Any financial interest totaling $2,000 or more must be reported.
Income is broadly defined and includes various forms of compensation, such as salary, gifts, and loan forgiveness, if they total $500 or more.
Loans from a single lender exceeding $500 must be disclosed, including those received by a spouse or registered domestic partner.
A gift is anything of value received without equal consideration. Gifts valued at $50 or more must be reported.
Travel payments can be categorized as gifts or income, depending on whether services were provided in exchange for the payment.
When reporting gifts, providing a good faith estimate of the fair market value is necessary if the exact amount is unknown.
It is important to differentiate between gifts and income, as the reporting requirements vary significantly.
Failure to file the 700-U form or to report required financial interests can lead to civil liabilities, including fines.
All information on the form is public and subject to inspection, emphasizing the need for accuracy and completeness.