Adopted Annual Budget
It is essential that the budget documents provide a clear picture of the City's financial position, the City's goals and objectives and the cash required to provide services to the citizens of Ankeny. City management and elected officials use the information presented in the Adopted Annual Budget book to make well informed decisions regarding the allocation of the City's financial resources while maintaining a stable financial position.
The City has received the Distinguished Budget Presentation Award, presented by the Government Finance Officers Association, for the past sixteen years in a row. The most recent five years of the annual budget book are presented below:
- 2018 Annual Budget Book
- 2017 Annual Budget Book
- 2016 Annual Budget Book
- 2015 Annual Budget Book
- 2014 Annual Budget Book
Capital Improvement Program
The capital improvement program (CIP) is an organized five-year timeline for scheduling capital projects and planning long-term debt. The annual program calendar starts shortly after the City Council's goal setting session each August and culminates in March. This allows for planned capital expenditures and debt issues to be finalized and included in the City's final budget for the upcoming year.
The CIP process is intended to provide a format for departments to submit capital project requests to the City Manager and to the City Council for review and evaluation. Approved capital projects are scheduled into the CIP timeline. The first year of the capital improvement program is included as part of the City's budget and also determines the amount of bonds and other debt instruments to be issued over the upcoming year.
What qualifies as a capital project and what is a long-term bond financing project?
- Capital Expenditures are the purchase of equipment or the improvement of land or buildings that is greater than $5,000, is not an ordinary repair or maintenance expenditure, and has a useful life of three years or more.
- Capital Improvements are budgeted in the Capital Project fund if they are greater than $50,000 and have a useful life of ten years or more, especially if funded through general obligation bonds.
- Long-term borrowing shall be limited to capital improvement projects that cannot be financed from current revenues and to capital equipment with a useful life of 20 years or more and a purchase cost of $250,000 or greater. Long-term debt shall not be used for current operations.