Updated March 5 at 2:05pm

Sign up to receive Providence Business News' newsletters
and breaking news alerts.  

GOVERNMENT

Pawtucket ends FY2012 with surplus

Posted:

PAWTUCKET – The city of Pawtucket’s general fund ended fiscal 2012 with a surplus of $2.7 million, according to an annual report from an independent auditor.

A city release attributed the surplus to revenue that exceeded expectations and spending controls that kept the city’s expenditures down.

In a memo to the City Council, Finance Director Joanna L’Heureux said other factors that helped save the city money included: changing to more energy-efficient lighting, adjustments in holiday pay and a light 2012 winter for snow removal.

The $2.7 million surplus has allowed the city to replenish its reserve fund, “which over a period of several years was tapped almost to depletion to help balance annual budgets,” said the release.

“This is very good news that represents the hard work and sacrifice of a lot of dedicated people. I’m very pleased to see that our tight fiscal controls have reversed a series of annual deficits prior to my administration and that we are finally able to begin restoring our rainy day fund,” Pawtucket Mayor Donald R. Grebien said in a statement.

“We are continuing to do more with less, and this independent audit is simply a confirmation of that. We know we have a very long way to go and it’s still a day-by-day process, but the city is now firmly headed in the right direction,” Grebien added.

The schools side of the city’s budget showed an operational deficit of $2.3 million, according to the release. The city said it is “working cooperatively with school officials” in order to help eliminate the deficit.

pawtucket, rhode island, surplus, budget, joanna l'heureux, donald r. grebien

Comments

No comments on this story | Please log in to comment by clicking here
Please log in or register to add your comment
Latest News