(Providence, RI) -- The Providence City Council Finance Committee approved a 770-million-dollar budget on Saturday. The full council is expected to vote this week as today starts the new fiscal year. The budget is about three-million dollars less than the one Mayor Jorge Elorza had presented in May, and Elorza released a statement that was critical of the new spending plan following the finance committee vote. The FinCom budget brings back a 40-percent homestead exemption for people who live in their homes.