Mon 1 Oct 2007
Cranston, RI – The taxpayers of Cranston should brace themselves for some upcoming financial turmoil. The City of Cranston’s August 2007 monthly fiscal reports contain some warning signs concerning the City’s fiscal future.
On the first page of the report, it indicates that the Cranston School Department is projecting a deficit of $4,252,297. Due to this deficit a Caruolo action by the Cranston School System against the City may begin in the near future. Meanwhile on page 15 of the same report, Cranston’s municipal budget is projecting that its spending is going over budget by $895,933 after only two months into the new fiscal year.
Under these circumstances, it is hard to see how Mayor Michael Napolitano will balance this year’s budget without a supplemental tax or dipping into the City’s Rainy Day fund.
Based on the monthly fiscal report, prepared by Mayor Napolitano’s Finance Department, it is clear that the Napolitano budget for fiscal year 2008 is headed for trouble even after implementing nearly the maximum tax increase allowed by state law.
In contrast, the 2007 budget for which Napolitano blamed for raising taxes ended in a surplus. (Cranston Herald 8/29/07, and the June 2007 fiscal report)
It is time for Mayor Napolitano to make the tough decisions to control his spending, even if it angers some of the special interests who support him, and to finally be honest with the taxpayers.
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