City of Clive Adopts FY 2017-2018 Budget on Heels of Aaa Bond Rating Upgrade
During the March 9 meeting the Clive City Council adopted their operating budget for Fiscal Year 2017-2018. Starting July 1, 2017 the newly approved budget maintains the City’s property tax levy of $10.14, serving as one of the lowest City property tax rates in the Metro Area. The budget seeks to deliver on the City Council’s many action items identified in their strategic plan, which is annually updated and reviewed each year.
Mayor Scott Cirksena was happy with this year’s budget process noting, “Every year we continue to hone our budget process to make sure we are looking many years into the future to be the best financial stewards of Clive taxpayer dollars, making Clive the best deal in the metro to live, raise a family and operate a business.”
The newly approved budget includes resources for the hiring of a new police officer position to serve as a School Resource Officer. Funding for the position will be shared by the West Des Moines Community School District. In addition, due to the enhanced development activity and long-term planning, the newly approved budget includes the hiring of a new planner position in the City’s Community Development Department.
Overall, the newly approved budget provides long-term financial flexibility to Clive taxpayers and this positive financial position was recently recognized by Moody’s when they upgraded the City of Clive’s bond rating status to Aaa, the highest rating level the investor service issues. As noted by Moody’s, “The Aaa rating reflects the city's strong financial operations, healthy liquidity, and ample revenue raising flexibility. The stable outlook reflects our expectation that the city's credit quality will remain strong due to the power of the regional economy, structurally balanced financial operations, and healthy reserve levels.”Clive now joins West Des Moines and Iowa City as one of three communities in Iowa to receive the Aaa designation from Moody’s. Nationally, Clive ranks as one of the smallest in terms of population size to reach Aaa status.