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This document provides a Business Impact Estimate concerning a proposed ordinance related to the budget of the City of Tampa for the fiscal year 2024-2025. It outlines the necessity for a tax levy on taxable property, appropriations in line with the budget provisions, and certifies the millage to be levied for various purposes, while assessing potential impacts on private businesses within the city.
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01
Identify the key business processes affected by the risk or event.
02
Gather data on potential losses, including revenue, productivity, and resources.
03
Assess the financial impact of each identified business process.
04
Determine the duration of the impact on each process.
05
Calculate the total estimated impact by summing the losses across all processes.
06
Prioritize the processes based on the severity of their impact.

Who needs business impact estimate?

01
Business continuity planners.
02
Risk management teams.
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Senior management for decision-making.
04
Financial analysts to assess potential losses.
05
Stakeholders involved in strategic planning.
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A business impact estimate is an assessment that quantifies the potential effects of a regulatory action or policy change on a business's operations, finances, and market conditions.
Certain businesses, typically those affected by new regulations or policies, are required to file a business impact estimate, often mandated by governmental or regulatory bodies.
Filling out a business impact estimate typically involves providing specific data on potential costs, benefits, and other impacts associated with the proposed regulation, along with supporting documentation and analysis.
The purpose of a business impact estimate is to inform decision-makers about the anticipated effects of proposed regulations, helping to ensure that policies are developed with an understanding of their economic implications.
Information that must be reported includes the projected costs and benefits, any economic impact on the business sector, compliance requirements, potential job creation or loss, and other relevant data concerning the regulation.
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Tampa ordinance Business Impact Estimate Florida Statutes tax levy fiscal year 2025 city budget economic impact compliance costs regulatory costs businesses impact

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