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Town budget cut to move toward pension fund recovery

April 2, 2014

NARRAGANSETT – The town has a proposed general fund budget of $52.8 million for fiscal year 2015, the town manager told the school committee at a work session Monday.

Town Manager Pamela Nolan said that like the school department’s budget, the town’s budget has also been impacted by the town’s need to move toward fully funding the pension system’s annual required contribution, or ARC. Nolan said the town has cut capital expenses in an effort to move the town’s pension system out of “critical” status.

For the rest of this story and more local news, pick up a copy of the Narragansett Times.

Source 
Southern Rhode Island Newspapers
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