$696 Million Budget Puts Providence on a Path to Addressing Fiscal Challenges; Does Not Raise Taxes on Residents or Businesses
Mayor Jorge Elorza today signed a $696 million budget for Fiscal Year 2016 that utilizes strong management, long-term thinking and realistic expectations about the challenges facing Providence to put the city on a path toward addressing those challenges.
“This budget is a major step toward addressing Providence’s ongoing financial challenges without raising taxes on residents or commercial properties,” said Mayor Elorza. “The Providence City Council have been strong partners in this process and I am grateful for their commitment to the important decisions that will help Providence succeed.”
Mayor Elorza introduced his proposed budget in an address before the City Council on April 29. Last night, the Providence City Council approved the FY2016 budget. With the Mayor’s signature the budget will be enacted and take effect for the start of Fiscal Year 2016 on July 1.