Once bankrupt, Central Falls now has $1.7m surplus
A new audit shows Central Falls now has a $1.A new audit shows that Central Falls, R.I., now has a $1.7 million budget surplus, about 2½ years after becoming the first city in the state to declare municipal bankruptcy. Mayor James Diossa said the city can now fix streets and sidewalks that have fallen into disrepair. City officials say the surplus is the result of spending cuts, more property tax revenue than expected, and savings on the cost of health care for city workers, including police officers and firefighters. The audit by Providence-based Marcum LLP showed Central Falls has a $1.3 million surplus from fiscal 2013 and $400,000 from the previous year.