Prior to the budget filing in March each year, the City Council performs a budget development process for the upcoming fiscal year which includes multiple budget workshops and meetings in January and February. Residents and other stakeholders are welcome to provide their input at these meetings or by contacting City staff and Council members.
The City will keep its property tax rate level at $10.14 per $1000 of valuation. This is the fifth consecutive year the rate has been steady.
Moody's Investor Services assigned a AAA rating to Clive's $4.2 million General Obligation Corporate Purpose and Refunding Bonds issued in April 2019. Clive's previous bond issue in 2018 also received a AAA rating. These bonds will primarily fund capital improvement projects in Clive scheduled for 2019 and 2020. Clive is one of only three cities in Iowa--and one of the smaller cities in the United States--to earn Moody's highest rating. Moody's based their rating on Clive's "strong financial operations, healthy liquidity, and ample revenue-raising flexibility."
The City Council discussed the FY 2020-2021 budget at its January 9th and January 23rd meetings. The budget memos and presentation materials from those meetings are available below:
Budget Workshop #1 Presentation 1.9.20
Public Works Budget Memo
Budget Workshop #2 Presentation 1.23.20
General Fund Budget Memos
Approved FY2020-2021 Budget