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Aurora finance committee outlines 2026 budget, flags $3.3M deficit including carryovers
Summary
CFO Stacy Peterson presented a proposed 2026 budget with expenditures of about $687.9 million and revenues of about $541.1 million; after carryovers and late changes the general-fund deficit was shown as about $3.33 million and staff proposed targeted transfers and internal adjustments to address shortfalls in insurance and benefits funds.
Stacy Peterson, Aurora’s chief financial officer, told the Committee of the Whole on Dec. 2 that the proposed 2026 budget anticipates $687.9 million in expenditures, $541.1 million in revenue and roughly $75.7 million in carryovers. The finance chair said a surplus of about $326,000 existed before carryovers but adding late changes and carryovers produced a roughly $3.33 million general-fund deficit.
Peterson outlined three principal functions of the property-tax levy — general city operations, pension costs and debt service — and said the 2025 levy (billed in 2026)…
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