The Independent View: NYC CFB Matching Funds Update

The New York City (NYC) Campaign Finance Board (CFB), has updated the New amounts voted in 2018, of its Matching Funds program.

The Voluntary Program Matches Small Contributions from NYC Residents allowing Candidates who participate to Receive up to $2,000 in Public Funds per Eligible Contributor.

Matching Funds provide Candidates with a Strong Incentive to Finance their Campaigns by Engaging with Average New Yorkers instead of seeking Large Contributions from Special Interests.

The Program Empowers more Candidates to Run for Office, even without Access to Wealth; ones who join can Build Viable, Competitive Campaigns for Office by relying on Support from their Neighbors. The Voluntary Public Financing Program matches Small-Dollar Contributions from Individuals who Reside in New York City, helping to Amplify the Voices of New Yorkers in City Elections. A $10 Contribution from a NYC Resident to a Participating Candidate in the 2021 Election could be worth as much as $90 to their Campaign.

Candidates for Elections through the 2021 Elections may choose to Participate in the Matching Funds Program under the Provisions that Existed Prior to the 2018 Ballot Referendum.

Who is Eligible?

Any Candidate running for Municipal Office: Mayor, Comptroller, Public Advocate, Borough President, and City Council, may join the Program. The program does Not Cover County District Attorney Offices or State/Federal Offices.

To receive Public Funds, Candidates Must:

1. Meet a Two-Part Fundraising Threshold:

- Collect a Minimum Number of Contributions, of $10 or more, from the Area they seek to Represent. For instance: Candidates for City Council must have 75 Contributors from their District; Candidates for Borough President must have 100 Contributors from their Borough.

- Raise a Minimum Amount of Qualifying Contributions from NYC Residents, only the Matchable-Portion of the Contributions Counts towards this Threshold.

2. Certify Agreement to and Demonstrate Compliance with the Requirements of the Act and Board Rules.

3. Be on the Ballot, and have an Opponent on the Ballot.

4. Submit a Personal Financial Disclosure Filing with the Conflicts of Interest Board.

What Is Required of Candidates Who Participate?

Spending Limits & Restrictions - Candidates who seek Public Funds agree to abide by Spending Limits, which ensure Money will Not decide an Election between Participating Candidates. The Spending Limit varies by Office Sought.

Early Payments

Candidates who Receive an Early Public Funds Payment may be Required to Return Public Funds if they:

1. Terminate their Candidacies prior to the Petitioning Period.

2. Fail to Get on the Ballot in the Primary and/or General Election.

3. Fail to Gather and Submit Petitions.

4. Eventually do Not Face Opposition on the Ballot.

Limits on Public Funds

There is a Cap on the Total Amount of Public Funds available to each Candidate. The Cap Ensures Candidates use a Combination of Public and Private Funds to Finance their Campaigns. Candidates may Only Spend Public Funds to further their Campaign, and must Agree to Return Public Funds that were Not Spent in Accordance with the Rules.

Accountability & Audits

After the Election, Candidates who have Received Public Funding must Return any Remaining Funds to the city. As a result, there are Strict Limits on what Publicly-Funded Campaigns can Spend after the Election. All Campaigns are Audited, and those who Receive Public Funds must provide a thorough Accounting of the way Public Funds were Spent. Those who fail to Comply with the Law may Face Penalties. Candidates with Outstanding Penalties or Public Funds Repayment Obligations from a Previous Election may Not Receive Matching Funds for the Current Election until Payment is made.

CLICK HERE to see what is New for 2019.