Attorney advises cutting budget as much as possible before declaring bankruptcy.
City leaders can do most of what a receiver could, attorney Michael Kelly said Monday night at City Hall, and the Council should get as much of it done as possible before Woonsocket runs out of money. Director of Finance Thomas Bruce said without the proposed supplemental tax bills, the city's got less than six weeks. "We will run out of cash by the end of May," he said. Supplemental taxes require the support of state legislators, who have expressed ambivalence about the plan. Woonsocket leaders find themselves in this situation thanks to a surprise $10 million deficit at the Woonsocket Education Department. Either the city or a receiver can negotiate with unions to help the city save on contracts, "But the state receiver can not touch …
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Tonight, Thursday offer opportunities to hear speakers' divergent viewpoints on municipal recievership.
Tonight, the Woonsocket City Council will hear from attorney Michael Kelly on his views about recievership for financially strapped municipalities. The speaker is the second item on the agenda for tonight's meeting at Harris Hall, which begins at 6:30 p.m. The Woonsocket Call reports Kelly fought the state law that allowed Central Falls to enter into recievership. On Thursday, the Woonsocket Taxpayer's Coalition will welcome Judge Robert G. Flanders, Jr., a propoent of the recievership option, at 6:30 p.m. at the Elks Lodge, 380 Social St. Recievership has been discussed as a possible solution to the Woonsocket Education Department's $10 million deficit, an alternative to issuing supplemental tax bills to make up the difference. …
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Brendalee Hartland McGovern
1:00 pm on Wednesday, April 25, 2012
Mr. Kelly - Cronyism is partiality to long-standing friends, especially by appointing them to positions of authority, regardless of their qualifications more ›