Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: MONDAY, October 4, 1993 TAG: 9310040068
SECTION: VIRGINIA PAGE: C4 EDITION: NEW RIVER VALLEY
SOURCE: Associated Press
DATELINE: RICHMOND LENGTH: Medium
Terry's records were disclosed at the request of the Richmond Times-Dispatch and were reported Sunday. The newspaper asked the candidates for governor, lieutenant governor and attorney general to go beyond Virginia's disclosure laws and release a range of documents.
Virginia law requires that candidates reveal a broad overview of their holdings and those of their immediate family. They do not have to release their tax returns.
Among the items the newspaper requested were tax returns for the past three years; net worth statements that would reflect debts and other obligations; and academic, military, medical and driving records. Also sought were marriage and divorce documents, and information on criminal and civil cases involving the candidates.
Terry's opponent, Republican George Allen, refused to disclose much of his personal finances, saying all the public needs to know is contained in compulsory disclosure reports to the state and the U.S. House of Representatives, in which he served for about a year.
Terry, who received tax refunds of $7,000, had a principal income last year of $106,743, which she made as attorney general, according to state and federal tax returns made public last week. She had assets of $396,750 and liabilities of $213,880.
Terry reported cash on hand of $26,500 and a note receivable worth $10,000. She also said she had about $50,000 in stock and securities in Virginia firms, a one-ninth interest valued at $35,000 in her family's farm in Critz, and her Richmond home worth $275,000. The house has an outstanding mortgage of about $214,000.
Terry graduated from the University of Richmond and earned master's and law degrees at the University of Virginia.
She included a letter from her doctor saying she is in excellent condition.
The congressional financial disclosure forms filed by Allen on Jan. 29 required only certain financial information be reported.
Allen's report shows stocks, bonds, real estate and cash worth $616,000 to $1.5 million. He reported income from these holdings of $55,400 to $119,500, excluding his federal salary of $129,500.
Except for a personal loan of between $10,000 and $15,000, Allen's debts are for real estate, including his law office in Charlottesville and home in Earlysville.
A copy of Allen's college transcript - he transferred from the University of California at Los Angeles to Virginia and also graduated from UVa's law school - shows he had an undergraduate grade-point average of 3.28 of a possible 4.00.
Other documents showed he got a speeding ticket in Minnesota in 1989 and was in an accident in Richmond last year that resulted in a personal-injury lawsuit. Terry had no driving infractions.
Allen did not serve in the military, though he registered for the draft. His first marriage, to Anne Rubel, ended in divorce in 1984. He married Susan Brown in 1986.
The candidates for lieutenant governor - Republican Mike Farris and Democrat Don Beyer - refused to go beyond Virginia's financial disclosure requirements.
In his report to the State Board of Elections, Farris indicated his main source of income was a home-schooling advocacy group, of which he is president. He is only required to divulge whether the salary exceeds $10,000 and does not have to give an exact amount. He listed debts of $10,001 to $50,000 - money borrowed from a personal retirement account.
Beyer reported that his stake in his family's Volvo dealership generated an income of $50,000 or more. He earns $28,000 as lieutenant governor. He borrowed $1 million from his family in his campaign four years ago and listed three debts of more than $50,000 each.
Jim Gilmore, the Republican nominee for attorney general, supplied all requested material. His Democratic opponent, Bill Dolan, released his military record, a copy of his birth certificate, a physician's letter saying he was in good health and an accountant's letter saying he had no outstanding taxes.
Compulsory financial disclosure reports as a candidate and member of the state Board for Community Colleges show Dolan had debts of $50,000 or more.
They also reveal he owns 10 stocks and bonds each worth $10,001 to $50,000. He was paid about $140,000 for representing businesses and individuals before state agencies.
Gilmore, Henrico County's commonwealth's attorney, made public a bank statement showing he has a net worth of about $230,000. He has assets of about $421,000 against liabilities of $191,500.
His holdings include his residence, valued at $200,000, and interest in real estate and stock with a market value of about $18,000.
According to his most recent state and federal tax returns, Gilmore and his wife had an adjusted gross income last year of more than $96,000, paid about $20,000 in taxes and got $2,000 in refunds.
Keywords:
POLITICS
by CNB