Fairbanks Proposition C, Financial Disclosure Requirements (October 2009)

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Proposition C, Formation of Financial Disclosure Requirements was on the October 6, 2009 ballot ballot in Fairbanks North Star Borough.

This measure was defeated

  • YES 648 (40.5%)
  • NO 952 (59.5%)Defeatedd[1]

The proposition sought to change the laws governing the disclosure of financial information. Right now the elected officials fall under the State of Alaska Municipal Official Financial Disclosure Law, but if the proposition had been adopted then they would have fallen under the Municipal Official Financial Disclosure Law.

Local voters see the state laws as too strict and that was the main drive behind this proposition. The disclosure rules would be simplified under a new local law, making it so that a business did not need to disclose as much information as would have been needed for the state rules. The state does allow for boroughs to opt out of their rules, last year in Denali their vote to have local disclosure rules passes.[2]

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