NEW: RISC Annual Winter Meeting Features Focuses on Communities in Crisis
Saturday, March 10, 2012
The Rhode Island Statewide Coalition (RISC), today presented “Communities in Crisis: Ruin or Recovery?” at their 9th Annual RISC Winter Meeting.
RISC focused a panel discussion on the state’s growing municipal fiscal crisis. Central Falls Receiver Judge Robert Flanders delivered the keynote address and then served as the moderator for a panel discussion that included: Woonsocket Mayor Leo Fontaine; Cranston Mayor Allan Fung; Fiscal Adviser Gary Sasse, adviser to the Providence City Council; and Representative Laurence Ehrhardt, (R-North Kingstown), a member of the House Finance Committee.
“A multitude of serious fiscal problems have taken hold in several of our cities and towns and are expanding into a full blown municipal crisis, as we’ve seen most recently with the situation in Woonsocket,” remarked RISC Chairman Harry Staley. “We are honored to have Judge Flanders, who has emerged as the state’s premier expert on municipal debt problems, join with us today and lead our distinguished panel. We are sending out a call to action to taxpayers to recognize that deficits and pension debt threaten the very survival of several of our communities and we must demand solutions from elected leaders.”
GET THE LATEST BREAKING NEWS HERE -- SIGN UP FOR GOLOCAL FREE DAILY EBLASTThe city of Woonsocket revealed in recent days it is carrying a $ 10 million dollar deficit from its’ school department, is facing junk bond borrowing ratings, and is about to experience a serious cash flow problem affecting payments to basic vendors to city departments. Mayor Leo Fontaine has met with state officials to discuss options for assistance, including the possibility of state intervention.
The present crisis in Woonsocket follows the state takeover of East Providence this past January due to a $7 million dollar school department deficit. Providence continues to face a $22 million dollar deficit this year and a larger one looming in the coming fiscal year and faces a host of structural and legal hurdles in its attempt to make changes to the retirement benefits of more than 4,000 city retirees.
RISC is the state’s largest, independent taxpayer advocacy organization. Nearly 200 attended the event.
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