Town Ends Year with Surplus!

Posted by Wayne G. Barber

Town Administrator Paulette Hamilton is pleased to announce that The Town of North Smithfield will end the year with just under $650,000 surplus and the School Department will end with just under $850,000. This is a significant accomplishment and indicates a complete turnaround of Town finances. The Audit, performed by Bacon and Company, LLC. shows a very strong and financially stable outlook for the Town. " The Town Finance and Assessing departments have worked long hours to rectify previous problems and to set in place a number of checks and balances that ensure stability", stated Hamilton. " This positive Financial news is good for the entire community.

Having both the municipal and school finances in a very positive report is indicative of very capable finance and assessing departments who have not only adjusted all the issues that had been in the past, but instituted new policies and procedures that now reduce the Town's liability.

The Audit report will be presented by the Finance Director to the Town Council at the January 19th meeting.