Despite Deficit, City Audit Shows Positive Financial Strides
The Braver Group provides final audit of the City of Woonsocket for 2011.
The final figures are in, and while deficit spending in education has placed Woonsocket in a precarious financial position, there may still be some positive news to take away from the city's Comprehensive Annual Financial Report. According to the audit provided by Braver PC, the Woonsocket Education Department (WED) overspent by $2.7 million during 2011 and the City General Fund finished the year with a $550,000 surplus, resulting in a total deficit of more than $2.1 million. The final report was sent to Finance Director Thomas Bruce Tuesday afternoon, and was filed with the national repository and forwarded to investment groups, ratings agencies and the state auditor general this morning. It can be viewed in its entirety on the City of …
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Chris12
5:14 pm on Thursday, January 5, 2012
English- Get a grip! You sound like a depressed Chafee/Cicilline supporter. Let it go and move on. more ›