Third Party Payment Disclosure

Transparency, oversight and the highest ethical standards have been hallmarks of the Office of the Treasurer.

Third party payment disclosure is a key part of the reform. Building upon the disclosure process the Connecticut General Assembly adopted, legislation that requires reporting of third party payments by Treasury vendors. In addition, the proposal to prohibit payment of finder's fees was codified.

Since approval of the Treasury Reform Law, the Treasurer's Office has annually sought disclosure of third party payments from vendors. Vendors are asked to provide, under penalty of false statement, information regarding any such payments that are made, and specifically whether such payments are permitted under sections 3-13j through 3-13l of the Connecticut General Statutes.

In 2005, the Connecticut General Assembly passed several state contracting reform provisions, including the requirement that, for any state contract valued at $50,000 or more in a calendar or fiscal year, state vendors must disclose any consulting agreements entered into in connection with such contract. (Conn. Gen. Stat. §4a-81) As a result, beginning with the reporting period of July 1, 2005 to June 30, 2006, Treasury vendors have been required to disclose both Third Party Fees and Consulting Agreements.

Summaries of the annual disclosures provided to the Treasury, and copies of the relevant forms, are available below. For additional information, you may contact the Chief Compliance Officer at (860) 702-3030.