By JOHN HOWELL -- With revenues greater than projected and expenses less than budgeted, a preliminary audit for the fiscal year ending June 30 show an estimated surplus of $6.7 million.
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With revenues greater than projected and expenses less than budgeted, a preliminary audit for the fiscal year ending June 30 show an estimated surplus of $6.7 million, Mayor Scott Avedisian announced Monday.
After budgetary adjustments that surplus is projected to increase the city’s unassigned fund balance by $5.2 million, which is now $18.5 million, to $23.7 million.
According to a release issued Monday, revenues for the last fiscal year are estimated to exceed the final budget by $5.87 million and expenditures are estimated to fall below budget by $825,324, said Finance Director Ernest Zmyslinski.
It is anticipated, however, that the budgetary surplus will be reduced by an increase in the City’s year-end reserves. The City will reserve an additional $200,000 to cover an increase in outstanding year-end encumbrances - the cost of goods and services ordered, but not received, prior to June 30, 2017. Also, in accordance with the City’s enacted FY18 operating budget, an additional $1.3 million will be reserved at year-end and subsequently transferred to revenue as defined in the budgetary plan.
Since the Warwick School Department audit has not been completed, the City’s preliminary audit projects a balanced budget for them.
It is important to note that the figures are only estimates at this time and may change in the final audited statements.
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Thecaptain
So that in fact means that the residents were over taxed/ Or maybe this is just another miscalculation on the part of former finance director Zymslinski? Wouldn't be the first.
Tuesday, October 3, 2017 Report this
wwkvoter
Put it to the highway/road fund, thats the most underfunded area.
Wednesday, October 4, 2017 Report this
Thecaptain
Wwkvoter,
Presently the employee health care fund has a liability of just under $300 million. There is not 1 nickel in the account. Nadda, nuttin, zilch, ZERO.
Thursday, October 5, 2017 Report this
richardcorrente
Warwick has increased taxes every year for 17 years in a row. Someone had to take action. I decided it was going to be me.
THEN I campaigned for over 700 days in a row with the platform of "Cut Taxes - Cut Spending" and the City Council UNANIMOUSLY denied 29 tax increases by Mayor Avedisian. 29 tax increases! It was the first time in 17 years that Warwick actually "Cut Taxes - Cut Spending" and the city kept functioning; and the garbage continued to be picked up; and the police and fire departments continued to protect our citizens. And now, we have a surplus of over $5 million dollars. That's what happens when you "Cut Taxes - Cut Spending". I'm exceptionally proud of our City Council that listened to their constituents, and I am personally proud of the effort I put into that campaign. It saved millions of dollars for the 80,000 taxpayers that are paying the tab. Whether my influence was large or small, I'm exceptionally proud of the result.
Happy Autumn everyone.
Rick Corrente
The Taxpayers Mayor
Thursday, October 5, 2017 Report this
Thecaptain
Corrente,
You need to seek professional help. You did nothing, repeat, nothing that impacted the city council decision to hold the line on taxes. The only thing that you did do was cheat the taxpayers out of $8081.71 property taxes, in excess of $500 in utility taxes, and 3 years worth of car taxes. You never once offered 2 sentences at the podium on any subject matter. You have absolutely no research skills, no analytical skills, and by your own fiscal record, you are a financial disaster. You are completely delusional to think that you have done anything in the name of public service to the community. Why cant you remember that you lived as a squatter for 3 years at 177 Grand View and never paid taxes. During the time that you were tax delinquent you somehow found $30,000 to loan yourself to run for office. Your actions are unconscionable and fraudulent.
You leave a trail of unpaid bills and litigation wherever you go. I am still waiting to see the results of the Board of Elections determination of your payment of $4000 from your campaign account to the man that bought your tax lean. That info is coming , trust me. At what point do you reach the maximum level of self embarrassment ?
Your perception of the facts is indicative to someone on an LSD trip. ZERO knowledge of the city finances, ZERO. OMG, I would pay thousands to have you in public taking questions from the public. You just dont stop. It is truly amazing.
Thursday, October 5, 2017 Report this
CrickeeRaven
Hello again, Thecaptain:
It certainly defies logic how the fake "mayor" persists in spinning his fanciful tale of somehow influencing anything in this city by losing his only run for office, failing to pay taxes on his claimed residence and his car, and repeating falsehoods despite being shown objective information that proves his words to be lies.
I, for one, am very interested to see the result of your Board of Elections inquiry into the fake "mayor" paying $4,000 for office space to the same individual who paid off the tax lien on his residence in 2012. [I also fondly recall this comment board, where we first discussed this situation: http://warwickonline.com/stories/aldrich-could-end-up-being-a-school-again-rhodes-for-housing,126254?]
Thank you for your continued work in exposing the fake "mayor" for the fraud he is, and for joining me and the thousands of honest, taxpaying voters in Warwick who will no doubt reject his candidacy again next November.
Friday, October 6, 2017 Report this
Thecaptain
Once again I must post the official city documents that show that the fake mayor, the squatter, MAYOR DUMBNESS, removed his car, with license plate BANKRS, from the tax rolls for 3 years and cheated the tax payers. That is why to this day he refuses to state where the car was registered during the period of his squatting 2013- 2016. Remember all, that was the period when he was delinquent with every bill , yet loaned himself $30,000+ to run for office. Anyone think that may be a bit fishy? Here is the tax printout. I hope it posts correctly.
6 Found
Owner Vehicle Year Make Model Plate Bill Bill Year
CORRENTE, RICHARD C 0 BANKRS 2918655 2009 View Bill
CORRENTE, RICHARD C 0 BANKRS 2018248 2010 View Bill
CORRENTE, RICHARD C 0 BANKRS 2118114 2011 View Bill
CORRENTE, RICHARD C 0 BANKRS 22029726 2012 View Bill
CORRENTE, RICHARD C 0 BANKRS 26035873 2016 View Bill
CORRENTE, RICHARD C 0 BANKRS 27036787 2017 View Bill
Friday, October 6, 2017 Report this
Thecaptain
In this article of the Beacon (http://warwickonline.com/stories/4th-quarter-honors-announced-at-pilgrim-high,126494?#comments) Corrente states the following:
"As for my car taxes, I paid the current bill weeks before the deadline but learned that I was in arrears of my previous bill and I was not allowed to register my car "until all taxes in arrears were paid". I went to the tax collector to apologize and make amends for my unintentional mistake. I learned, at that time, that my "taxes in arrears" came to a whopping total of ONE PENNY! I'm sure that there wasn't any politics being played there and I have a copy of the bill and the cancelled check if you would like to see it. Call me at 338-9900. Please don't believe Rob Cote. He lied about it saying I was late for the current bill as well as "the penny" but the bill and the receipt proves otherwise."
Here is the payment of the 1 PENNY: (I HOPE IT POSTS CORRECTLY AS IT APPEARS ON THE CITY WEB SITE)
Bill Year 2016
Bill 26035873
Activity Posted Paid By /Reference Amount
3/24/2017 CORRENTE, RICHARD C $40.56 Payment
3/24/2017 CORRENTE, RICHARD C $136.31. Payment
I for one would like to see the check he made out for 1 PENNY. How many more times should I thoroughly dismantle the fake mayor? More importantly, how many more can he take?
Friday, October 6, 2017 Report this
Thecaptain
Still waiting for the fake mayor to answer where his car was between 2013 and 2016. Looks like he will live with that lie forever. Then again, he's had alot of practice.
Sunday, October 8, 2017 Report this