City Finance

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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.

Audit

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. 

Budget

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 2018-2019 Operating Budget that starts July 1, 2018 includes information on all the City's operations and fund accounts.  

FY 2018-2019 Budget Highlights

During the March 8 meeting, the Clive City Council adopted their operating budget for Fiscal Year 2018-2019.  Starting July 1, 2018, 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 hiring new positions within the Parks & Recreation Department to serve Clive’s growing needs to maintain existing and developing park areas, in addition to the Clive Greenbelt and Trail system.  The budget provides resources for initial phases of a Fire and Emergency Medical Services (EMS) partnership with the City of Urbandale for services in the western portions of both communities.
 
Overall, the newly approved budget provides long-term financial flexibility to Clive taxpayers. This positive financial position was recognized last year by Moody’s, when they upgraded the City of Clive’s bond rating status to Aaa, the highest rating level the investor service issues.  Clive is one of three communities in Iowa to receive the Aaa designation from Moody’s, along with West Des Moines and Iowa City.



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