Audit: Providence ends FY22 with $827K surplus, $40M pension investment loss

THE CITY OF PROVIDENCE ended fiscal year 2022 with an $827,00 surplus but lost $40 million in pension investments, according to a recent audit report. Pictured is Providence City Hall. / PBN FILE PHOTO/CHRIS BERGENHEIM
PROVIDENCE – The city ended fiscal year 2022 with an $827,00 surplus, according to a recently published audit by accounting firm CliftonLarsenAllen LLP. The surplus money from higher tax revenue and federal aid through the American Rescue Plan Act was used to boost the city’s reserves, or rainy day fund, to $29.6 million – the…

Register to keep reading or subscribe today and receive unlimited access.
Register Now Already a Subscriber? Login now

If you have already logged in and are still seeing this message, please refresh the page as your browser is caching the old content.

Purchase NowWant to share this story? Click Here to purchase a link that allows anyone to read it on any device whether or not they are a subscriber.

No posts to display