Leaders in East Providence will soon be back in charge of city finances, after a state budget commission stepped in to solve a financial crisis. After 15 months Governor Lincoln Chafee says the commission is now ready to put budgeting authority back in the hands of local city and school officials. In a statement, Chafee declares East Providence well on the way to financial stability.
The city had a serious cash flow problem in 2011, in part because the school district racked up a significant deficit. The budget commission cut spending and made changes to the city pension system. East Providence also received a windfall of $49 million from a settlement with Google over illegal pharmaceutical ads, after city police assisted with the investigation.