State budget proposal cuts $1 million from Woonsocket five year plan

State budget proposal cuts $1 million from Woonsocket five year plan

WOONSOCKET – A five year plan to resolve ongoing fiscal problems in the city may need nearly $1 million in immediate revisions if the version of the state budget approved by the House Finance Committee this week is passed by the full General Assembly.

The plan, which has been mapped out over the last year by a board appointed by the state to manage Woonsocket's finances, was based on Gov. Lincoln Chafee's original fiscal plan that included additional aid for cities and towns. According to calculations by City Council president and Budget Commission member John Ward, the five year plan will need a total revenue reduction of $920,761 under the new proposal.

The version approved by the House Finance Committee includes reductions in Woonsocket's appropriations for both FY2013 and FY2014 in the following categories:

2013

-$364,258 in non-education aid was eliminated.

2014

-$515,347 in non-education aid was eliminated

-$41,156 in education aid was eliminated