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Aurora finance committee reviews proposed $694 million 2025 budget, plans levy increase for pensions and debt
Summary
City finance staff presented a balanced $694 million proposed 2025 budget that relies on a growing tax base, uses prior surpluses and bond proceeds for capital projects, and proposes a property tax levy increase mainly to cover rising public safety pension costs and modest debt service.
The Aurora Finance Committee heard an overview of the city’s proposed $694 million budget for fiscal 2025 on Oct. 17, with staff describing the plan as balanced and driven largely by capital needs and a growing tax base.
Chris Minnick, chief financial officer and city treasurer, told the committee the city expects about $626 million in 2025 current revenues, will use roughly $68 million of budgeted prior revenues under fund-balance policy and plans to offset some capital spending with bond proceeds. “The fiscal year 2025 proposed budget is balanced,” Minnick said.
Minnick said the proposed levy will rise in dollar terms by roughly $5.3 million for 2025. He attributed most of that increase to higher statutorily required public safety pension contributions — about…
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