cover
TO: Mayor John Laesch
FROM: Toshia Moss, Manager Financial Empowerment Center
DATE: April 3, 2026
SUBJECT:
A Resolution authorizing the execution of the Expert Partner Memorandum of Understanding between the Cities for Financial Empowerment Fund, Inc., and the City of Aurora.
PURPOSE:
The Aurora FEC became an FEC Expert Partner in 2022 and will continue to operate an FEC as a high-quality public service, actively contribute to the national FEC learning community ("FEC Public Learning Community"), receive technical assistance resources, and continue to use the Cities for Financial Empowerment Fund ("the CFE Fund") central FEC database at no-cost. The Expert Partner Memorandum of Understanding reflects that the CFE Fund is expanding the Scope of Work of the Financial Empowerment Center Expert Memorandum of Understanding (the "MOU") to include legacy planning into the FEC model at no cost to the City of Aurora. Creating an opportunity for municipalities to integrate legacy planning into core service offerings, further strengthening long-term financial stability and wealth-building for residents.
BACKGROUND:
In 2019, the City of Aurora applied for and received the Financial Empowerment Center Implementation Grant funds from the CFE Fund as a match grant to support municipal engagement to improve the financial stability of low- and moderate-income households by embedding financial empowerment strategies into local government infrastructure. The Neighbor Project (TNP) was hired as the servicing contractors for the grant agreement with CFE. The Aurora FEC became a part of a growing network of FECs embedded in local governments across the country, committed to providing free, one-to-one financial counseling, delivered by professionally trained coaches, to low- and moderate-income residents.
DISCUSSION:
Since implementation, the Aurora FEC served over 2,500 clients, had 3,288 outcomes, helped clients increase savings by more than $1,599,141 and reduced debt by...
Click here for full text