Providence Expecting Another Surplus

(Providence, RI)--The city of Providence is expecting a fourth consecutive fiscal surplus under Mayor Jorge Elorza.The mayor announced on Wednesday that the city is expecting a year-end operating surplus of eight-and-a-half-million dollars, and that the city's rainy-day fund has now grown to twenty-million.Chief Financial Officer Lawrence Mancini tells The Providence Journal the city's unfunded pension liability of one-billion dollars remains a concern, but that the surplus is good news.


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