NEW: Final Providence Budget Vote Tonight
Monday, July 18, 2011
The Providence City Council tonight is set to put its final stamp of approval on the budget for the new fiscal year, which city officials say will eliminate what was anticipated to be a $110 million deficit.
“This budget makes significant strides on the path towards firm financial footing,” said Council President Michael A. Solomon. “We came into this budget process facing a $110 million structural deficit, but working alongside the Administration we honestly and openly addressed the deficit without one times fixes or other budgeting gimmicks. However, this is just the beginning; over the next 11 months the Council must remain vigilant and work tirelessly to ensure assumptions are achieved and savings are maximized.”
The total budget is $613.8 million, down from $638.5 million in the current year.
GET THE LATEST BREAKING NEWS HERE -- SIGN UP FOR GOLOCAL FREE DAILY EBLASTThe council is scheduled to meet at 5:30 p.m.
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