Providence, Rhode Island
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Providence is the capital city in Rhode Island. It is one of 22 cities in the state.
[edit] Website evaluation
- Main article: Evaluation of Rhode Island city websites
[edit] The good
- The Mayor and city council officials contact information are posted online.[1][2]
- Agendas[3], minutes [4] and schedule[5] are available for council meetings.
- Budget and audit reports are available [6][7]
- Zoning information [8][9] and Building Permit information [10] are available on the website.
- Information on bids and proposals are available [11]
- Tax information is available.[12]
[edit] The bad
- Lobbying information and ethics is not noted.
- There is no checkbook register available.
- Does not provide access to public records.
[edit] Public Pensions
Providence Mayor Angel Taveras is calling on more than 800 city retirees to accept reduced pensions and less generous health care coverage to help the city avoid a bankruptcy filing. The mayor is seeking three changes:the suspension of future pension cost-of-living adjustments (COLAs) until the system gets from its 32% funded level to 70 percent; a 20 percent health insurance co-share for retirees under the age of 65; and a transition to Medicare with a supplemental plan for those 65 and older. [13]
Providence's pension system is one reason why Rhode Island's capital and New England's second-largest city is on the verge of municipal bankruptcy. It faces a $23-$30 million structural budget deficit that is projected to rise to $67 million in four years. Today, pensions and other post-retirement benefits consume more than half of Providence's annual tax levy. Nevertheless, the city's pension fund is only about one-third funded, while 70 percent is considered the minimum for a relatively stable government system. All in all, it adds up to a $903 million unfunded pension liability. [14]
The biggest single cause of the problem is cost-of-living adjustments. The majority of city retirees receive a 3 percent annual COLA. But police and firefighters who retired in the late 1980s and early 1990s — 27 percent of all retired city workers — are eligible for 5-6 percent increases each year. A pension with a compounding 5 percent annual COLA doubles in 16 years; at 6 percent, the pension benefit doubles in 12-13 years. [15]
[edit] External links
[edit] References
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