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.
Following the budget meetings, the City Council will consider adoption of the proposed budget during their March 9, 2017 meeting.