The state budget Governor Chafee signed into law Friday is a “step back” for Rhode Island, relying too heavily on non-recurring revenues to plug budget holes and leaving the state with growing deficits.
That is according to local policy expert Gary Sasse, who served under former Republican Gov. Donald Carcieri.
So how is this budget different from any Rhode Island budget during the Carcieri administration? Or indeed since Roger Williams’s time?
Great. So we’ll be able to cover the loss when 38 defaults.
It’s gotta be a majority, right? Given that Chafee thinks he’s in charge down there.
One local newspaper has an opening for a copyeditor.
Providence Business News:
Taveras’ presented a $683.4 million budget that holds spending level and invests $7 million in the city’s rainy day fund.
Mayor Angel Taveras is proposing a $638.4 million budget for the coming year that he says will move Providence forward without increasing taxes.
Lest you think you got away with passing that bad check to the DMV.
“As part of the new agreement, the Providence Police have agreed to six years with no raise. If the Police Department reduces its budget in excess of $6 million in structural savings in FY12, up to $1.5 million of the additional savings will be dispersed to officers as one-time stipends in FY13 and FY14. The new agreement also includes a salary increase of 4% in FY14.” “The agreement also includes a retirement incentive that will encourage 35 to 40 eligible officers to retire this year, producing significant savings through attrition. Additional savings will be achieved through changes to current benefits.”
“Based on an initial review, we’re optimistic that this budget is a win for the people of Providence,” said David Ortiz, spokesman for Providence Mayor Angel Taveras. “We thank the General Assembly for its strong effort to support the Capital City during this difficult time.” But same could not be said of Central Falls, the financially troubled square-mile city that is currently being run by a state-appointed temporary receiver.
“Moody’s said the review was prompted by the city’s proposed fiscal 2012 budget which relies on revenue sources and cost saving measures that have yet to materialize.” So how is that different from any other year?
About 10 area residents and business owners attended a forum hosted by the North Central Rhode Island Chamber of Commerce, which covers Johnston, North Providence, and the northwest part of the state.