Valley Breeze

The Valley Breeze Cumberland Lincoln 05-09-2019

The Valley Breeze Newspapers serving the Northern Rhode Island towns of Cumberland, Lincoln, Woonsocket, Smithfield, North Smithfield, Pawtucket, North Providence, Scituate, Foster, and Glocester

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Page 26 of 71

CUMBERLAND LINCOLN EDITION | VALLEY BREEZE | MAY 9-15, 2019 CUMBERLAND 27 Even a 4 percent maximum tax levy increase would only bring in about $2.4 million in additional revenue, Mutter said. If you took that $1.7 mil- lion out just to fill the gap from elimi- nating surplus spending, that leaves only $700,000 to pay for necessary new expenses. Mutter isn't giving too many hints about his budget, but says he is plan- ning a town-wide forum once it is released to discuss the challenges facing the town. The town's charter forces tough time constraints on town officials, he said, meaning the budget needs to be presented and approved all within a two-week time period. The repeated surplus spending means the town has lost money each of the past three years, said Mutter, and this year might not be much dif- ferent, with numerous unbudgeted expenses. Due to Cumberland's unsynchro- nized budget year, the budget pro- jection approved this spring won't become finalized until next year, when tax rates would be finalized based on what transpired over the previous months. Mutter has said he isn't exactly sure how much he believes the town should ultimately maintain in its savings accounts, but says it should be "as high as you can get it" without spending it down to pay for regular expenses. There was $9,781,175 in unassigned fund balance as of June 30, 2018, meaning reserve money that wasn't tabbed for certain spending. After $1.7 million in fund balance was used in the 2018-2019 fiscal year, that total savings number was project- ed to be down to $8,060,023, accord- ing to a presentation made by Mutter to the Town Council earlier this spring. Town ordinance requires 10 percent of operating revenues be put aside as fund balance, or a minimum of $7,573,481. That leaves a remaining sum of $486,542 left as an extra cush- ion, or as Mutter described it, "little or no excess of fund balance remaining." If the town keeps carving into that total, at some point it's going to be a big problem, says Mutter, particularly when there's an inevitable economic downturn. In 2013, the unassigned balance was $8.4 million, in 2014 it was $11.3 mil- lion, and it was $12.9 million in 2015. The percentage on the 2015 number was 18.68 percent of budgeted rev- enues. Mutter compares the practice of bal- ancing the budget with surplus money to using a personal savings account to buy groceries. BUDGET From Page One Congratulations to the following Northern Rhode Island Chamber of Commerce Members honored by the U.S. Small Business Administration RHODE ISLAND & NEW ENGLAND SMALL BUSINESS MANUFACTURER Sennen G. Conte, Allergen Friendly Foods RHODE ISLAND & NEW ENGLAND VETERAN-OWNED SMALL BUSINESS Christopher Sanford, PuroClean Disaster Restoration Services FINANCIAL SERVICES CHAMPION Pamela LaBreche, Navigant Credit Union RHODE ISLAND DISTRICT AWARD POSTHUMOUSLY Raymond Fogarty, The John H. Chafee Center for International Business Bryant University Trusted Service & Repair Since 1953 Paul • Alternators/Starters/Interstate Batteries • Brakes • Oil Change • Exhaust • Struts & Shocks • Tires • A.C. Service & Repairs • Computerized Wheel Alignment & High Speed Balance • Timing Belts • Radiators, Heater Cores, Water Pumps & Coolant Flush Service RHODE ISLAND EMISSIONS & SAFETY TESTING INSPECTION STATION SERVING YOUR DRIVING NEEDS SINCE 1953 401-769-1967 90 Winter Street, Manville, RI Mon.-Fri. 6:30 a.m.-5 p.m.; Sat. 7:30 a.m.-12:30 p.m. CLASS LD: Light Duty Inspection Station, (Trucks 8,501 – 15,000 GVW) INSPECTION STATION FULL SERVICE GAS ISLAND Get Back IN tHe GaMe! We offer rehabilitation and therapy services for patients of all ages. cUMBeRLaND, RI 2295 DIAMOND HILL ROAD ROUTE 114 (off Exit 11, Route 295) CUMBERLAND, RI 401-305-3858 We're close, just 15 minutes from Providence off Rt. 146. 152 School St., North Smithfield Open 6 days: Mon.-Fri. 8 a.m.-10 p.m.; Sat. 8 a.m.-4 p.m. We speak "cat." (401) 762-2400 • Cat have a language all their own. Fortunately, we speak it too. Visit our full-service feline-loving animal hospital with a team approach to quality veterinary care. Your guide to nursing home/Medicaid Protection Wills & Trusts Medicaid Planning Probate Northern RI's Premier Full Service Law Firm Jarret Law, LLc 176 Eddie Dowling Highway, Suite 202, North Smithfield, RI 401-769-2929 Aram P. Jarret III, Esq. "Jay" Aram P. Jarret, Jr., Esq. New Extended Hours Most Insurances Accepted Call Today! Dr. Lionel Lemos, Jr FAAO Dr. Michael C. Santos, FAAO Dr. Steven W. Santos Complete adult and children's eye care, glasses, contact lenses and the treatment and management of ocular disease. Nos Falamos Portugues Cumberland Family Eye Care Ltd. 248 Broad Street Cumberland, RI 401-726-2929

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