Cottage Grove officials report $2.9 million accounting error, say budget cuts and corrections coming Interim finance staff told the council the city uncovered multi‑year accounting mistakes — including a $2.9 million loan recorded as revenue and roughly $4.5 million less in beginning fund balances than the adopted budget showed — and outlined immediate corrections and likely spending reductions for next year.

Cottage Grove's finance team just uncovered a staggering $2.9 million accounting error that could reshape the city's budget for years to come!

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