Friday, December 15, 2017
City Of Marshalltown
About Finance Department

The Finance Department is responsible for compliance with and implementation of legal requirements that apply to the City of Marshalltown, management of the City's financial resources, administration of the City budget, accounts receivable, accounts payable, payroll, insurance, general accounting, and information services.


Financial Documents


Budget Documents

The city’s annual budget represents the city’s operating plan for that fiscal year, July 1st to June 30th. The budget is prepared in conformance with the City's fiscal performance goals and the Code of Iowa.  

Working budget documents can be found as part of the Council packets in January through March council meetings. Current and prior budget documents can be found at the Iowa Department of Management website.


Capital Improvement Plan (CIP)

Capital project planning is an ongoing process where annually the Capital Improvement Plan (CIP) is reviewed and updated. Changing needs and priorities, emergencies, cost changes, mandates and changes in technology all require the CIP to be updated annually. The city's public facilities, streets, parks, water lines, equipment, etc., are constantly in need of repair, replacement or expansion. The CIP achieves the following objectives as a component of the city’s budget and financial planning process:

 ·      Focuses attention on community goals, needs and capabilities

·         Advance planning ensures that projects are well thought out in advance of construction

·         Provides for the orderly replacement of capital expenditures


The City of Marshalltown completes capital planning on a five-year schedule.  Projects included in the CIP are items that meet the fixed asset thresholds identified in this policy and has a useful life of more than one year.  The exceptions to this would be projects identified in funds 030 or 031 which are related to the City’s Capital Improvement Tax levy.  Through a series of work sessions, the Council focuses on prioritizing the first year’s expenditures along with identifying future needs. Once approved, the CIP outlines the City’s official commitment to funding these expenditures in the budget for the upcoming fiscal year and providing a plan for funding projects or assets.  Once the Council has agreed to a plan, a public hearing must be held prior to adopting the plan

FY 2017-2021 CIP Document


Comprehensive Annual Financial Report (CAFR)

The CAFR is a complete set of audited financial statements ..  The report is published each year, for fiscal year ended June 30th.  The CAFR includes all governmental activities, organizations, and functions controlled by or dependent upon the City.  The City has received  the Government Finance Officers Association of the United States and Canada (GFOA) awarded a Certificate of Achievement for Excellence in Financial Reporting to the City for its comprehensive annual financial report for the years ending June 30, 1990 and consecutively 1993 through 2016.  The Certificate of Achievements is a prestigious national award, recognizing conformance with the highest standards for preparation of state and local government financial reports.

Review the CAFR for more information at the Auditor of State Website.


More Information

 The City currently has Aa2 bond rating as received by Moody’s Investors Services on September 11,2017.

Complete financial data can be obtained in the above documents.  For additional information, please contact the Finance department.


Contact Us

Email the Finance Director

Finance Dept.

City Hall

24 N. Center St.

Marshalltown, IA 50158


Office: 641-754-5760 Ext 2100




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