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Aldermen discuss rising ward fund balances and possible inflation adjustments; no formal action taken
Summary
Aldermen and staff reviewed $75,000-per-ward allocations established in 2009, noted large cumulative balances (about $4.9 million total across wards) and discussed whether to raise the per-ward allocation to account for inflation and future casino revenues. No change was voted at the meeting.
A discussion about annual ward initiative funds occupied a portion of the Aurora Finance Committee’s Nov. 14 meeting but produced no formal committee action. Aldermen reviewed the history of a $75,000 annual allocation per ward adopted in 2009 (typically split two-thirds for capital and one-third for ward enhancement) and discussed whether the unadjusted amount has lost purchasing power to inflation.
Alderman Bugg said $75,000 in…
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