Governor’s office keeping wary eye on Woonsocket financesDecember 7th, 2011 at 10:10 am by Ted Nesi under Nesi's Notes, On the Main Site
The Chafee administration isn’t preparing to appoint a fiscal overseer in Woonsocket “at this time,” spokeswoman Christine Hunsinger told WPRI.com. But R.I. Department of Revenue Director Rosemary Booth Gallogly and her staff are “monitoring the situation closely,” she said.
The Woonsocket Public Schools ended the fiscal year on June 30 with a $2.7 million deficit despite rules requiring the city to run a balanced budget, Woonsocket Patch reported Tuesday.
Gallogly appointed State Police Maj. Stephen Bannon on Nov. 14 as East Providence’s fiscal overseer, the first of three potential steps the state can take to intervene in a city’s finances under the 2010 Fiscal Stability Act. Central Falls, which filed for bankruptcy in August, is the only other municipality that’s under the law’s control.
Woonsocket is doing “anything and everything to avoid a state intervention,” Mayor Leo Fontaine told WPRI 12 last month.
• Related: Chafee taps trooper to oversee East Providence’s budget (Nov. 14)