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

Nancy Lavin

01/30/2023

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…

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