The Marietta City Council voted 4-1 July 13 to relax financial disclosure requirements for city elected officials, overruling Mayor Steve Tumlin’s veto when they first voted 5-0 to table the matter.
Requesting the change, Tumlin said the city’s new financial disclosure code still is more restrictive than the state requirement for elected officials.
The effective date will be Aug. 31, when the mayor and City Council members only have to disclose property holdings within Cobb County, not worldwide.
They also will need to include Cobb County property owned or held in trust not only by themselves and their spouses but also their dependent children when worth more than $10,000.
City Council members still will need to disclose their businesses, subsidiaries or investments when owning more than 5 percent or more than $10,000 but without disclosing the individual stocks and bonds in mutual funds.
Opposed was Councilman Philip Goldstein.
Councilmen Grif Chalfant, Stuart Fleming, Andy Morris and Johnny Walker were in favor.
Councilwoman Michelle Cooper Kelly was absent, and the Ward 5 seat is vacant due to the suspension of Anthony Coleman.
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