Wed December 15, 2010
Central Falls receiver report to shed light on financial woes
By CATHERINE WELCH
PROVIDENCE, R.I. – The state-appointed receiver of Central Falls has finished his report on the city's finances and how he plans to improve the bottom line. Those findings will be officially released Thursday.
Receiver Mark Pfeiffer's report will cover what caused the financial problems, what he's done to stem the red ink, and what he plans to do to secure the city's financial future.
Central Falls is looking at $6 million budget gap this fiscal year. Pfeiffer's already called for plugging that gap through tax hikes, layoffs, even turning off some street lights.
Central Falls Mayor Charles Moreau turned the city over to receivership back in May, and then filed a lawsuit claiming it was unconstitutional. Back in October a Superior Court judge upheld the law that cleared a path for Pfeiffer to take on the receivership.
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