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Section 45-12-22.1 Municipal deficits - Purpose.

RI Gen L § 45-12-22.1 (2019) (N/A)
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§ 45-12-22.1. Municipal deficits - Purpose. The purpose of §§ 45-12-22.1 - 45-12-22.5 are to ensure that municipalities and school districts monitor financial operations on an ongoing basis, execute a rapid response to budget problems, and maintain a balanced budget in compliance with § 44-35-10. It is the intent of the legislature to require that municipalities and school districts:

(1) Prevent year-end deficits;

(2) Immediately address potential deficits;

(3) Immediately address actual year-end deficits; and

(4) Stabilize municipal and school district finances.

History of Section. (P.L. 2003, ch. 54, § 2; P.L. 2003, ch. 66, § 2.)

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Section 45-12-22 Repealed.
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Section 45-12-22.2 Monitoring of financial operations - Corrective action.