[HISTORY: Adopted by the City of Norwalk Common Council 5-26-2026. Amendments noted where applicable.]
The purpose of this chapter is to promote responsible fiscal planning and transparency in the City of Norwalk. In order to ensure proper fiscal planning and public transparency, it is critical that the City Council be aware of any fiscal impact that may arise from enacting a new or revised ordinance. The City residents are best served when an ordinance is accompanied by clear and accurate information regarding its financial implications. It is in the public interest to require that the enactment of all new or revised ordinances being passed by the City Council to include a Fiscal Impact Statement outlining the projected impact of the ordinance for the upcoming fiscal year. The Fiscal Impact Statement shall allow the City Council to make informed decisions concerning the City's budget, spending, and use of public funds.
A. 
All ordinances shall include either a Fiscal Impact Statement prepared by the appropriate City Department(s), or a written statement from the appropriate City Department(s) explaining the reason(s) that no Fiscal Impact Statement could be prepared. The Fiscal Impact Statement, or the written statement explaining that no Fiscal Impact Statement could be prepared, shall be completed in coordination with the Chief Finance Officer, or their designee.
B. 
The Fiscal Impact Statement, or a written statement explaining the reason why no Fiscal Impact Statement could be prepared, must be submitted to the City's Chief Financial Officer, or their designee, for their review and comment before a public hearing is held on the new or revised ordinance. The Fiscal Impact Statement shall be submitted to the City's Chief Financial Officer, or their designee, 21 days before the public hearing is held.
(1) 
The City's Chief Financial Officer, or their designee, shall review all Fiscal Impact Statements, or the written statement explaining the reason why no Fiscal Impact Statement could be prepared. The City's Chief Financial Officer, or their designee, may accept or revise the Fiscal Impact Statement, or the written statement explaining the reason why no Fiscal Impact Statement could be prepared. The City's Chief Financial Officer, or their designee, shall decide whether to accept or revise the Fiscal Impact Statement within seven days of receipt.
(2) 
If the Chief Financial Officer, or their designee, revises a Fiscal Impact Statement, or the written statement explaining the reason why no Fiscal Impact Statement could be prepared, then the revised document shall be provided to the City Council no later than 10 days after before the public hearing is held.
C. 
The Fiscal Impact Statement, or the written statement explaining the reason why no Fiscal Impact Statement could be prepared, must be submitted to the City Council before a public hearing is held on the new or revised ordinance. The Fiscal Impact Statement shall be submitted to the City Council 10 days before the public hearing is held.
D. 
Following the public hearing, any City Council member who intends to present a significant amendment to the ordinance shall provide the appropriate City Department and the Chief Financial Officer, or their designee, with a copy and sufficient time to analyze the fiscal impact of the amended ordinance. If the amendment requires a revised Fiscal Impact Statement, or the written statement explaining the reason why no Fiscal Impact Statement could be prepared, it shall be provided to the City Council no less than three days before the City Council meeting where the final vote will be held.
E. 
The City Council cannot vote on an ordinance unless the requirements of this section are satisfied.
A. 
A Fiscal Impact Statement shall include, but not be limited to, the following information:
(1) 
A statement of the estimated costs or savings to the City resulting from the ordinance in the upcoming fiscal year.
(2) 
A statement on any potential impact of the ordinance on revenues in the upcoming fiscal year.
(3) 
A statement on any potential impact of the ordinance on staffing, operations, and capital expenditures in the upcoming fiscal year.
(4) 
Identification of the funding source(s) of the ordinance, if applicable.
All Fiscal Impact Statements, or the written statement explaining the reason why no Fiscal Impact Statement could be prepared, shall be submitted as supporting documentation to the proposed ordinance at the City Council meeting where the final vote will be held. The purpose of the Fiscal Impact Statement, or the written statement explaining the reason why no Fiscal Impact Statement could be prepared, is to provide a formal structure for estimating potential financial impact and to inform the City Council's deliberations. The Fiscal Impact Statement shall not be considered binding.
Any mistake or inaccuracy in a Fiscal Impact Statement shall not affect the validity of the legislative action to which it is attached.