WBNA welcomes Mayor Jorge Elorza to our General Meeting this Tuesday, May 10, at 7pm to discuss the City's 2016 Budget as well as Providence's long-term financial future. The second half of the meeting features a presentation by SolarFlair about Solarize Providence, the City's 2016 affordable solar installation program.
Some Background on the Proposed Budget
In his FY2016 Budget Address presented April 27, Mayor Elorza proposed to decrease residential and commercial property taxes, although most city property owners will experience a tax increase due to revaluations and an increase in property values throughout the city.
The budget proposal includes decreasing car taxes overall by raising the exemption from $1000 to $2000, level funding Providence Public Schools for the seventh consecutive year, decreasing total salary costs for city employees by not filling vacant positions, and allotting funds for fire and police academy training among other initiatives.
In addition to the Mayor's budget, last week saw the release of a report by the National Resources Network that contains a long range strategic plan for the City of Providence's financial stability, growth and sustainability. Last fall the City won a grant to develop this plan with the help of consultants from NRN and the federal Department of Housing and Urban Development.
While aspects of this independent strategic plan were not included in his Budget Address of last week, the Mayor has stated that he will consider the ideas within the report for long range financial planning for the City, especially in regards to resolving a projected structural deficit of possibly $37 million in the next 10 years.
The Mayor's budget goes to the Providence City Council's Finance Committee where it will be studied and reviewed into the month of June.
- Mayor Elorza's FY2016 Budget Address (as prepared for delivery)
- A Strategic Fiscal & Management Plan for the City of Providence, National Resource Network
- Elorza Unveils $696 Million Budget Proposal: Fee Hikes, But NoTax Increases, RI NPR
- Elorza budget: Property taxes would go up but there's relief for car owners, Providence Journal
- Elorza budget includes property tax increase, but cuts car tax, WPRI
- The fate of Mayor Elorza’s budget rests in the hands of these five people, WPRI