The Administration Department under the supervision of the City Clerk, is responsible for timely and accurate financial information. The annual budget process projects the City's financial position and the dollars needed to provide services to the citizens of Clive.
On an annual basis, following the end of the fiscal year on June 30, the financial accountings of the City are audited by an outside firm. The audit report consists of a series of financial statements, as well as other components that provide an overview of the City's finances and a comparison of the budget for that year.
Tax Increment Financing (TIF) Reports
Cities that have TIF districts with debt must submit their debt requirements to the county auditor by December 1 each year to be able to capture the revenue to repay outstanding obligations. Several years ago legislation required the Annual Urban Renewal Report. The City is required to report the annual activity within each urban renewal area by December 1, for the previous fiscal year. Council approval is required prior to submission.
Annual Financial Report
Annually, by December 1, cities must submit their Annual Financial Report to the State Auditor. This report summarizes the City’s financial position at the end of the previous fiscal year.
The annual budget process projects the City's financial position and the dollars needed to provide services to the citizens of Clive. The budget report is required to be filed annually with the County Auditor as well as the Iowa Department of Management by March 15.
Prior to the budget filing in March each year the City Council performs a budget development process through various budget workshops and meetings in January and February. The process for the FY 2017-2018 Operating Budget to start July 1, 2017 will include information on all the City's operations and fund accounts. Below is a summary of the important dates for Clive's budget development process. As packet documents are developed for each meeting, a link to those documents will be provided.
January 12, 2017
1st City Council Budget Workshop during Regular Council meeting. Workshop topics focus on Road Use Tax Fund and City utility funds (Water, Sewer, Stormwater). Utility cash flow presentation by Public Financial Management. Click here to view the presentation and click here to see the budget packet documents for the January 12 meeting.
January 26, 2017
2nd City Council Budget Workshop during Regular Council meeting. Workshop topics focus on the General Fund and Capital Equipment purchases. Continued discussion of any outstanding budget items and selection of budget scenario for preparation of budget publication and public hearing notice. Click here to view the January 26 budget presentation. A specific summary of the City's salary reallocation project is included here to explain the sharing of expenses across the City's various operating funds.
February 2, 2017
City Council workshop to discuss any outstanding budget items and review long-term financial model for potential changes/adjustments.
February 9, 2017
Approval of the FY 2018 Budget Publication and setting the maximum property tax rate for FY 2018. Approval of the public hearing notice for March 9 meeting.
March 9, 2017
Public Hearing for the FY 2018 Budget during regular City Council meeting. Approval of the proposed FY 2018 Budget and revised FY 2017 Budget.
March 15, 2017
Adopted and amended budgets filed with Polk and Dallas County auditors.
July 1, 2017
New fiscal year begins.