Providence Has Surplus For Third Consecutive Year

(Providence, RI)  --  The City of Providence is once again ending its fiscal year with a surplus.  This year's total is nine-point-two-million dollars, which means the city has a fund balance of eleven-and-a-half million, according to an independent audit.  This is the third year in a row a surplus has been counted, which city officials say is due to realistic budgeting practices, an increase in tax collections, and other factors.  However, the audit also notes an unfunded pension liability of one-billion dollars.


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