Board Approves $2.9M in Public Funds

 

The payments issued today includes amounts withheld by the CFB from prior public funds payments. The CFB withholds five percent of a campaign's public funds payments until the final payment prior to the election.

The next disclosure reports will be due by midnight on November 29. 
 

The CFB provides matching funds out of the city's General Fund to qualifying candidates at a rate of $8 for every $1 received from New York City residents, up to the first $175 for donations to City Council and Borough President candidates, and up to $250 for donations to citywide candidates, for a maximum payment-per-resident of $1,400 or $2,000, respectively. 

To qualify for matching funds, candidates must demonstrate support from within their communities by meeting a two-part fundraising threshold and abide by the other requirements set in the Campaign Finance Act. For instance, to qualify for public funding in City Council races, candidates must raise at least $5,000 from city residents. Only the first $175 contributed per city resident counts towards meeting the threshold.

Additionally, City Council candidates must receive at least 75 contributions from residents of the district where they are running. Candidates also must comply with all program rules, including individual contribution limits and a prohibition on collecting contributions from corporations, limited liability companies, and partnerships.

The matching rate increased to $8-to-$1 in November 2018 when it was adopted by voters along with other improvements to the matching funds program. For 2021, candidates may choose to participate in the previous program, which provides public funds at a $6-to-$1 matching rate. However, 98 percent of 2021 candidates participating in the program are choosing to abide by the new rules.
 

The CFB's Candidate Services staff offers candidates extensive support by providing access to trainings, resources, and one-on-one guidance to help campaigns navigate their disclosure requirements and compliance obligations. For the 2021 elections, the agency published a detailed guidance document with the payment schedule, requirements, and applicable deadlines for candidates to follow.

More information about the candidates' campaign finance data is available on the CFB website in the Campaign Finance Summary portal. Individual contributions, campaign spending, intermediaries, and independent expenditures are available in the CFB's Follow the Money database.