Thursday, April 21, 2011

So... Do We Still Have to Close All Those Schools?


PROVIDENCE –– The city’s projected operating deficit for the fiscal year that ends June 30 is getting smaller.

Michel D’Amico, who heads the Financial Review Panel created by Mayor Angel Taveras, told members of the City Council’s Finance Committee Wednesday night that as a result of higher than anticipated revenues in a number of categories and reduced expenses in others, the projected deficit for this fiscal year stands to be about $12.6 million — down from the $29 million that had been projected only a few weeks ago.

D’Amico said that shortfall could be cut in half if certain things break the city’s way, such as an infusion of $2.9 million in extra state aid as proposed by Governor Chafee, the receipt of $1.5 million to $2 million in the form of health-care reimbursements that the federal government has promised the city, and a possible $1 million to $2 million extra that the city might receive from its tax-exempt institutions in lieu of taxes.

No comments: