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Board receives annual ethics and gift guidance; trustees to continue charitable donations in board name
Summary
Trustees received an ethics refresher on gift rules: gifts $25 or less may be accepted with no reporting; gifts between $25 and $100 require reporting by the giver; gifts $100 or more should be declined. The board said it will continue making holiday charitable donations in the board's name.
Pedro provided the board's annual ethics refresher, noting trustees are public officials subject to state ethics law and must be mindful of gifts during the holiday season.
Pedro summarized the thresholds: "If you're given something that's valued at $25 or less, you can accept it. There are no reporting requirements. Anything valued between $25 and $100 similarly, you can accept it. However, there is a reporting requirement on behalf of the company plan, person who gives you the gift. And then anything valued at $100 or more, you should not accept it," he said and recommended filing an advisory to document receipt and disposition when required. He also said the board will continue post-COVID practice of making charitable donations in the trustees' names rather than exchanging gifts.
Trustees noted the guidance and did not propose changes; Pedro said staff would proceed with the planned charitable donation this year and no formal board action was required.
