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File #: 18-4207    Version: 1 Name:
Type: Ordinance Amendment Status: In Committee
File created: 6/6/2018 In control: Finance Committee
On agenda: 6/6/2018 Final action: 11/14/2018
Title: PROPOSED ORDINANCE AMENDMENT AN ORDINANCE REQUIRING A FISCAL IMPACT NOTE FOR PENDING LEGISLATION BE IT ORDAINED, by the Cook County Board of Commissioners, that Chapter 2 - Administration, Article III. - County Board, Division I. -- Generally, Section 2-77 is hereby amended as follows: Section 2-77 Fiscal impact review. (a) Short title. This Section shall be known and may be cited as the Fiscal Impact Review Ordinance. (b) Impact note required. (1) Every measure before the County Board including, but not limited to, any ordinance, resolution, motion, contract approval, or any amendment thereto (collectively and individually "measure"), except those measures making a direct appropriation or approving a contract for a specified amount to be expended within one fiscal year, the purpose or effect of which is to expend any County funds or to increase or decrease the revenues of the County, or to require the expenditure of their own funds either directly or indirectly, shall have prepa...
Sponsors: BRIDGET GAINER, RICHARD R. BOYKIN, JOHN A. FRITCHEY, LARRY SUFFREDIN, JESÚS G. GARCÍA, LUIS ARROYO JR, JERRY BUTLER, DENNIS DEER, GREGG GOSLIN, EDWARD M. MOODY, STANLEY MOORE, SEAN M. MORRISON, TIMOTHY O. SCHNEIDER, PETER N. SILVESTRI, DEBORAH SIMS, JEFFREY R. TOBOLSKI
title
PROPOSED ORDINANCE AMENDMENT

AN ORDINANCE REQUIRING A FISCAL IMPACT NOTE FOR PENDING LEGISLATION

BE IT ORDAINED, by the Cook County Board of Commissioners, that Chapter 2 - Administration, Article III. - County Board, Division I. -- Generally, Section 2-77 is hereby amended as follows:

Section 2-77 Fiscal impact review.

(a) Short title. This Section shall be known and may be cited as the Fiscal Impact Review Ordinance.

(b) Impact note required.

(1) Every measure before the County Board including, but not limited to, any ordinance, resolution, motion, contract approval, or any amendment thereto (collectively and individually "measure"), except those measures making a direct appropriation or approving a contract for a specified amount to be expended within one fiscal year, the purpose or effect of which is to expend any County funds or to increase or decrease the revenues of the County, or to require the expenditure of their own funds either directly or indirectly, shall have prepared for it a brief explanatory statement or note ("fiscal note") which shall include a reliable estimate of the probable impact of such measure upon the County's annual budget. The Cook County Chief Financial Officer shall prepare a fiscal impact statement for all ordinances or resolutions that propose to or would otherwise:

i) expend any funds or increase or decrease the revenues of the County, either directly or indirectly; or
ii) appropriate funds; or
iii) increase or decrease existing appropriations; or
iv) increase or decrease the fiscal liability of the County; or
v) sell or lease any County asset, including revenue streams from that asset, if the anticipated revenue from the sale or lease of the asset is greater than $5,000,000,00.

(2) If an ordinance authorizes capital expenditures or appropriates funds for capital expenditures, a fiscal note shall specify by year any principal and interest payments required to finance such capital expenditures. I...

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