Taveras orders review of city finances

PROVIDENCE, R.I. – Providence Mayor Angel Taveras yesterday created a five-member panel to assess the fiscal condition of Rhode Island's capital city.

Taveras says assembling a team of experts is an important part of strengthening Providence's finances. He calls it a difficult challenge and one faced by cities across the country.

"We are mindful of the tremendous strain that families are facing financially and otherwise, and we don't want to add to that," Taveras says. "But it's my responsibility to be honest and forthcoming with the citizens of Providence and the state of Rhode Island."

The budget panel assembled by Taveras is supposed to report back to him in 30 days.

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