New website coming soon!

Finance Department


Pay Your Bill Online

If you have received an invoice from the City of Spencer or a ticket from the Spencer Police Department, you can now pay that invoice on line via our online payment portal.  Visa, Mastercard, Discover and American Express are all accepted.   Click HERE to pay your bill.

The Finance Department is located within City Hall and is responsbile for the primary functions as summarized below:

Budget Compliance and Management – Responsible for development and coordination of the Annual Budget consisting of operating budgets of various departments/funds and the five-year Capital Improvement Program

Financial Reporting – Responsible for monthly financial reports on cash and investments, budget versus actual (with variance analysis and explanation) and Balance Sheets; the Comprehensive Annual Financial Report (CAFR) and all reports required by local, state, federal and other regulatory agencies

Financial transactions – Operating under an internal control framework, responsible for processing and recording of cash receipts, pension and tax report preparation, verification of invoices, preparation of paper and electronic disbursements and monitoring of purchases.

Investment and Financial Strategies – Responsible for implementing City’s Investment Policy, reviewing cash and investment portfolio, preparing bank reconciliations and adhering with applicable Iowa State Statutes.

Debt Administration – Responsible for evaluating debt financing plan options, timely payment of interest and principal of outstanding debt and monitoring of report requirements.

Risk Management – Responsible for promotion of effective program to protect City’s property from loss or damage in conjunction with City Clerk's Office.

Annual Budget

The Finance Director, in cooperation with the City Manager, coordinates the Annual Budget process. The City operates on a Fiscal Year of July 1 through June 30. The Budget must be adopted by the City Council and certifed to the County Auditor by March 15th of each year.

To view a budget, select the Fiscal Year below.

FY 2019-2020 (Current Year)
FY 2018-2019
FY 2017-2018
FY 2016-2017

FY 2015-2016

FY 2014-2015

Capital Improvement Plan

The City adopts a Five-year Capital Improvement program annually.  The Finance Driector is resposnible for the implementation of the current plan and the coordination of the annual update. The Plan acts as a roadmap for every department's major construction proejcts and major equipment purchases.  It is not cast in stone and can be amended if unforeseen items arise.

To view the City's Capital Improvement Plan, click on a plan below:

FY 2020-2024 (Current Plan)
FY 2019-2023
FY 2018-2022
FY 2017-2021
FY 2016-2020
FY 2015-2019

Annual Financial Report

Every year the Finance Department prepares an Annual Detailed Financial Summary for the previous Fiscal Year.  This report is required by Title 1, Chapter 7A of the Spencer City Code.  Within this report is detailed information regarding the City's financial status at the end of the Fiscal Year.  This report is not the official audit of the City.  The most recent Annual Report is for FY 2017-2018.  Past reports may also be found below.   

To view the report, select the Fiscal Year below:

FY 2017-2018
FY 2016-2017

FY 2015-2016
FY 2014-2015

FY 2013-2014

Annual Financial Audit

The City of Spencer is required by State Law to have an annual financial and compliance audit performed.  The City hires an independent auditing firm to complete this report and make its findings know to the City and the Auditor of State.   The most recent Audit is for Fiscal Year ending June 30, 2015.  Previous audits are also listed below by Fiscal Year.  For copies of audits that are not available on this website, please contact the Finance Director.  

Fiscal Year 2017-2018
Fiscal Year 2016-2017

Fiscal Year 2015-2016
Fiscal Year 2014-2015

Fiscal Year 2013-2014
Fiscal Year 2012-2013