Accounting and Financial Reporting

The Art and Necessity of Writing Fiscal Notes

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A fiscal note is a written estimate of the costs, savings, revenue gain, or revenue loss that may result from implementation of requirements in a bill or joint resolution—in other words, a summary that estimates the cost savings or increases, or revenue increases or losses that may result if a bill is enacted into law. The note’s context and financial impact help legislators, policymakers, and state officials understand the implications of their decisions on public-sector entities including local governments.

The need for local governments to submit fiscal notes that have a forceful impact is greater now than ever.


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