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This document outlines the amendment to the Fire/Police Emergency Communications Agreement with the City of Bellevue, detailing improvements to emergency services and associated costs.

How to fill out statement of fiscal impact

How to fill out Statement of Fiscal Impact

1. Begin with the title 'Statement of Fiscal Impact'.
2. Identify the purpose of the fiscal impact statement within the context of the specific project or policy.
3. Provide an overview of the current financial situation related to the project or policy.
4. Outline the expected financial implications, including revenue sources and potential costs.
5. Include any assumptions made during the analysis, such as economic growth rates or tax changes.
6. Detail the short-term and long-term fiscal impacts on the relevant stakeholders.
7. Ensure that the data and calculations are clear and easy to follow, supporting your conclusions.
8. Review the statement for accuracy and clarity before submission.

Who needs Statement of Fiscal Impact?

1. Government agencies that are proposing new legislation or policies.
2. Stakeholders involved in project funding or implementation.
3. Financial analysts and budget officers needing insights into fiscal implications.
4. Community members interested in understanding how new policies will affect local finances.
5. Decision-makers who require a clear understanding of the projected financial impacts before proceeding with a project.

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Fiscal impact analysis is used by local governments to analyze revenues and expenditures under differing scenarios (such as a new development) to determine if future expected revenues will be sufficient to pay for the future expected expenditures of providing services to the local population.

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Fiscal Risk Assessment Tool (FRAT) provides a high-level portfolio perspective on a wide range of fiscal risks which governments are typically exposed to.

What is the economic impact assessment tool?

For a government agency, the Economic Impact Analysis Tool shows the return on public investment, including: Direct impacts. Measured by grant-related purchases made in the community and the number of jobs generated by grantee activities (such as, wages, salaries and benefits paid directly to grant-supported employees)

What is a financial impact statement?

Financial impact statement means a realistic statement of a new or increased cost or obligation of complying with a proposed rule to a: View Source.

For pdfFiller’s FAQs

What is Statement of Fiscal Impact?

A Statement of Fiscal Impact is a document that assesses the financial effects of a proposed policy, regulation, or legislation on government budgets and public expenditures.

Who is required to file Statement of Fiscal Impact?

Typically, government agencies or entities proposing new regulations, policies, or legislation must file a Statement of Fiscal Impact.

How to fill out Statement of Fiscal Impact?

To fill out a Statement of Fiscal Impact, one should provide clear estimates of costs and revenues associated with the proposed action, detail assumptions made, outline affected programs, and include any necessary supporting data.

What is the purpose of Statement of Fiscal Impact?

The purpose of a Statement of Fiscal Impact is to inform decision-makers and the public about the potential financial implications of proposed governmental actions, ensuring transparency and accountability.

What information must be reported on Statement of Fiscal Impact?

The Statement of Fiscal Impact must report expected costs, anticipated revenues, affected programs, any budgetary implications, and a breakdown of financial calculations or assumptions made during the assessment.