Content of fiscal impact statements.
Richmond, Va., City Code § 2-297
in effectSec. 2-297. - Content of fiscal impact statements.
The fiscal impact statements and the revised fiscal impact statements required by Section 2-296 shall include, at a minimum, all of the following:
(1) The sources of information, assumptions and methodologies used to reach the conclusions set forth in the fiscal impact statement.
(2) A debt capacity schedule, if debt is a funding mechanism. In addition, the debt capacity schedule shall show the City's current debt capacity and how the City's current debt capacity is expected to change if the Council approves the proposed ordinance to which the fiscal impact statement relates for adoption or amendment.
(3) A comparison of funding and financing options available, including, but not limited to, expenditures from City funds, the issuance of general obligation bonds, and the issuance of revenue bonds.
(4) A detailed cost analysis, including, but not limited to, costs to the City and private funding, and a listing of the amount, value and source, as applicable, of each public and private investment, including, but not limited to, any property values of any real estate transferred, incentives provided, or infrastructure improvements made to facilitate the economic development project.
(5) Projected revenue and expenditure estimates attributable to the City, as a result of the proposed ordinance for adoption or amendment, if it is approved, covering at least the next ten fiscal years, including, but not limited to, debt repayment, new tax revenue, ownership, management, and maintenance costs, and additional service delivery costs for police and fire protection services and refuse collection services.
(6) Subsequent actions that may affect future revenue and expenditures if the proposed ordinance authorizes spending, including, but not limited to, the City's full fiscal obligation, ownership, management and maintenance.
(7) A description of any variables that may affect revenue and cost estimates.
(8) An estimate of the staff time and staff costs needed to implement the proposed ordinance.
(9) An explanation of how the addition of new staff, if any, and responsibilities would increase costs and affect other duties.
(10) Ranges of revenue or expenditures that are uncertain or difficult to project.
(11) If it is determined that the proposed ordinance, or any proposed amendments thereto, is not likely to have a fiscal impact, the basis for such a determination.
(Code 2015, § 2-303; Code 2020, § 2-303; Ord. No. 2015-144-154, § 1, 7-27-2015)
Source: City of Richmond, Virginia, Code (2026 recodification) and Charter (Municode Library, library.municode.com)URL: https://library.municode.com/va/richmond/codes/code_of_ordinances?nodeId=PTIICICO_CH2AD_ARTIVDE_DIV3DEECDE_S2-297COFIIMSTFetched: 11/8/2026