receivership

The Central Coventry firefighters union says it was surprised to learn that filing for bankruptcy was on the table. The union’s president said he thought cost cutting negotiations were moving forward.

There’s been little movement on the Central Coventry Fire District’s expected path towards bankruptcy since it was first reported last week, by channel 12.  The union has been in talks with a state receiver for the past several months.  The fire district is more than 3 million dollars in debt according to union president David Gorman. 

The troubled Wyatt Detention Center in Central Falls has entered receivership. The facility has been losing money for a while and contributed to the city’s financial woes.

West Warwick Residents Approve Critical Budget

May 23, 2014
Wikimedia Commons

Residents of West Warwick have passed a town budget that scales back services and raises taxes as part of an effort to avoid a financial crisis.  The move is a early step for the town's path to fiscal stability.

The $86.3 million budget comes with plenty of concessions, including cuts in town programs, a 2.9 percent increase in property taxes, and reductions to public employee pensions. But town manager Frederick Presley said the concessions are necessary if West Warwick wants to avoid bankruptcy.

Catherine Welch

Once again the Central Falls receiver will try and meet with the full city council. It’s a chance for the receiver’s office to walk elected officials through a five-year plan guiding the city back to financial solvency.

Three city council members have skipped a handful of earlier meetings. Council president William Benson Jr. is one of them. He says there’s no legal reason why he should meet and go over the plan, so don’t expect him there Monday night.

The mayor of Central Falls says he’s working with the city council president to bring receivership to and end. Council President William Benson Jr. is one of three council members who refuse to meet with the receiver’s office to go over a five-year plan guiding the city out of bankruptcy.  The councilors and receiver’s office are in a legal battle over when the receiver should leave.

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