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ORD 20229724Page 1 of 4VILLAGE OF DOWNERS GROVE Report for the Village Council Meeting 12/6/2022SUBJECT:SUBMITTED BY:2022 Aggregate Tax Levy Robin Lava Finance DirectorSYNOPSIS The Council will pass

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What is fiscal impact?

Fiscal impact refers to the effect that a particular decision or action will have on the finances of a person, organization, or government.

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Individuals, organizations or government entities who are planning to take a decision or action that will have a financial impact are required to file fiscal impact.

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To fill out fiscal impact, one must gather all relevant financial information related to the decision or action, analyze the potential financial effects, and document them in a comprehensive report.

What is the purpose of fiscal impact?

The purpose of fiscal impact is to assess and communicate the financial consequences of a decision or action to stakeholders and decision-makers.

What information must be reported on fiscal impact?

Information such as the estimated costs, revenues, savings, and economic benefits associated with the decision or action must be reported on fiscal impact.

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