Via Bloomberg on May 7, 2020, by Martin Z Braun
States and municipalities are facing gloomy financial prospects, but at least one city has something to celebrate.
East Providence, Rhode Island, neighboring the state capital, had its credit rating raised last week by Moody’s Investors Service to A1, its fifth-highest investment grade. The city of 47,500 has recorded almost a decade of budget surpluses and is benefiting from residential and commercial development along the Providence River. The former site of an oil tank farm is now home to apartments, condos and a $15 million medical office building.
The upgrade marked the continuing recovery of a city that was put under financial supervision by the state in 2011 after years of budget deficits and underfunded pensions, providing a case study for how other still struggling Rhode Island cities could engineer a turnaround.
“They were kind of up against the wall,” said Tom Jacobs, a Moody’s analyst. “Since then they really have turned it around both in terms of growth in the tax base and just very disciplined fiscal management.”
Moody’s this week changed its outlook on U.S. local governments as it expects the length and intensity of the recession brought on by the coronavirus shutdown to be more severe. Cities like East Providence that rely more heavily on property taxes and have built up reserves are better prepared to withstand cuts in state aid.
With more than 33 million people thrown out of work in the last two months and stores shuttered, sales and income taxes are plummeting. But property taxes should be relatively insulated until 2021 because assessments are set before the collection year, Moody’s said.
Still, cuts to local government services, layoffs and tax increases are coming. Dayton, Ohio has furloughed a quarter of the city’s workforce and is warning that more cuts may follow. Philadelphia Mayor Jim Kenney proposed raising taxes on property, non-resident wages and parking to help bridge a $700 million budget gap.
East Providence is relatively well positioned to weather the storm. About 70% of revenue for its $164 million budget comes from property taxes, with state aid making up most of the balance. The city, which has more than $14 million in reserve, has generated annual operating surpluses for nine years, according to Moody’s.
“It tells you a little about the fiscal management and discipline they’re bringing to the table,” said Moody’s analyst Blake Cullimore.
It took state oversight to impose that discipline. In 2011, then Rhode Island Governor Lincoln Chafee appointed a budget commission to stabilize the city after growing deficits in a school fund, heavy reliance on short-term borrowing and underfunding of its public safety pension. The city’s bond rating was lowered to junk.
The commission cut deficits by consolidating school and city operations and imposed stronger financial management controls. East Providence’s participation in a federal probe of Google over illegal advertising by Canadian online pharmacies yielded a $60 million windfall with most of the money earmarked for the police pension. The state returned financial control to the city in 2013, when Moody’s boosted it out of junk grade, but a financial adviser remained in place until 2018.
Funding for pensions and retiree healthcare remains a challenge. East Providence spends almost 14% of its budget on those fixed costs, with another 3% for debt. Pension costs are set to grow as the economic shutdown triggered by the coronavirus results pummels stocks, widening the city’s $210 million unfunded liability.
I have read your article carefully and I agree with you very much. This has provided a great help for my thesis writing, and I will seriously improve it. However, I don’t know much about a certain place. Can you help me? https://www.gate.io/ar/signup/XwNAU
The point of view of your article has taught me a lot, and I already know how to improve the paper on gate.oi, thank you. https://www.gate.io/es/signup/XwNAU
Very nice post. I just stumbled upon your blog and wanted to say that I’ve really enjoyed browsing your blog posts. In any case I’ll be subscribing to your feed and I hope you write again soon!
Thank you for your sharing. I am worried that I lack creative ideas. It is your article that makes me full of hope. Thank you. But, I have a question, can you help me? https://accounts.binance.com/en/register-person?ref=T7KCZASX
Please let me know if you’re looking for a writer for your site. You have some really great posts and I feel I would be a good asset. If you ever want to take some of the load off, I’d love to write some articles for your blog in exchange for a link back to mine. Please shoot me an e-mail if interested. Thanks!
It is my belief that mesothelioma can be the most deadly cancer. It contains unusual traits. The more I really look at it the harder I am assured it does not work like a true solid human cancer. If mesothelioma can be a rogue virus-like infection, so there is the prospects for developing a vaccine and also offering vaccination to asbestos uncovered people who are vulnerable to high risk regarding developing potential asbestos connected malignancies. Thanks for discussing your ideas about this important ailment.
Something more important is that when you are evaluating a good on-line electronics store, look for web shops that are continuously updated, trying to keep up-to-date with the latest products, the very best deals, plus helpful information on goods and services. This will ensure you are handling a shop that really stays over the competition and provides you what you ought to make intelligent, well-informed electronics purchases. Thanks for the significant tips I have really learned through your blog.
I discovered your weblog website on google and test a few of your early posts. Continue to keep up the superb operate. I simply further up your RSS feed to my MSN Information Reader. In search of ahead to reading extra from you afterward!?
One other thing is that an online business administration program is designed for learners to be able to smoothly proceed to bachelor’s degree education. The 90 credit diploma meets the lower bachelor college degree requirements and when you earn your current associate of arts in BA online, you should have access to the most up-to-date technologies within this field. Some reasons why students want to get their associate degree in business is because they are interested in the field and want to obtain the general knowledge necessary before jumping into a bachelor college diploma program. Many thanks for the tips you provide as part of your blog.
I am curious to find out what blog system you’re using? I’m having some small security problems with my latest website and I would like to find something more risk-free. Do you have any recommendations?
Howdy! Do you know if they make any plugins to help with SEO? I’m trying to get my blog to rank for some targeted keywords but I’m not seeing very good success. If you know of any please share. Thanks!
of course like your website however you have to take a look at the spelling on quite a few of your posts. A number of them are rife with spelling problems and I find it very bothersome to inform the reality then again I will certainly come again again.
Hello There. I found your blog using msn. This is a very well written article. I?ll be sure to bookmark it and return to read more of your useful information. Thanks for the post. I will certainly return.
A different issue is that video gaming has become one of the all-time biggest forms of excitement for people of every age group. Kids play video games, plus adults do, too. The actual XBox 360 is probably the favorite video games systems for those who love to have a huge variety of activities available to them, as well as who like to relax and play live with some others all over the world. Many thanks for sharing your thinking.
One important issue is that when you are searching for a education loan you may find that you’ll need a cosigner. There are many circumstances where this is true because you should find that you do not possess a past credit history so the loan company will require that you have someone cosign the borrowed funds for you. Thanks for your post.
Thanks for your article. It is rather unfortunate that over the last ten years, the travel industry has had to take on terrorism, SARS, tsunamis, flu virus, swine flu, as well as the first ever true global economic depression. Through it the industry has really proven to be strong, resilient along with dynamic, acquiring new solutions to deal with difficulty. There are always fresh difficulties and chance to which the marketplace must once again adapt and answer.
You made some first rate points there. I appeared on the web for the difficulty and found most people will go along with with your website.
Good day! This post could not be written any better! Reading this post reminds me of my good old room mate! He always kept chatting about this. I will forward this page to him. Pretty sure he will have a good read. Thank you for sharing!
Thanks for expressing your ideas. Another thing is that scholars have a choice between national student loan along with a private education loan where it really is easier to go with student loan debt consolidation reduction than through the federal education loan.
Thank you for some other informative website. Where else may just I am getting that kind of info written in such a perfect approach? I have a undertaking that I am simply now working on, and I have been at the glance out for such information.
I don?t even know the way I stopped up right here, however I thought this publish was once good. I do not realize who you might be but definitely you’re going to a well-known blogger when you aren’t already 😉 Cheers!
I’m truly enjoying the design and layout of your website. It’s a very easy on the eyes which makes it much more enjoyable for me to come here and visit more often. Did you hire out a designer to create your theme? Exceptional work!
I enjoy what you guys tend to be up too. This kind of clever work and coverage! Keep up the awesome works guys I’ve incorporated you guys to my own blogroll.
Heya i?m for the first time here. I came across this board and I find It truly useful & it helped me out much. I hope to give something back and help others like you aided me.
I have figured out some new items from your site about personal computers. Another thing I’ve always assumed is that computers have become a product that each home must have for many reasons. They supply you with convenient ways in which to organize the home, pay bills, shop, study, listen to music and perhaps watch television shows. An innovative method to complete most of these tasks has been a notebook computer. These pcs are mobile, small, effective and convenient.
I have realized that car insurance providers know the autos which are prone to accidents along with risks. Additionally, these people know what type of cars are susceptible to higher risk plus the higher risk they may have the higher the particular premium rate. Understanding the basic basics involving car insurance will let you choose the right sort of insurance policy that may take care of your wants in case you get involved in an accident. Thanks for sharing the ideas on your blog.
I truly appreciate this article.Thanks Again. Great.
Undeniably believe that that you stated. Your favorite justification appeared to be on the internet the easiest factor to have in mind of. I say to you, I definitely get irked even as other folks think about issues that they just do not know about. You controlled to hit the nail upon the highest and outlined out the whole thing with no need side effect , other folks can take a signal. Will likely be back to get more. Thank you
Hiya very nice blog!! Man .. Beautiful .. Amazing .. I’ll bookmark your web site and take the feeds also?I’m satisfied to seek out a lot of helpful info here in the post, we’d like develop more strategies on this regard, thank you for sharing. . . . . .
Hello, I think your site might be having browser compatibility issues. When I look at your website in Opera, it looks fine but when opening in Internet Explorer, it has some overlapping. I just wanted to give you a quick heads up! Other then that, fantastic blog!
Thanks for your article on the travel industry. I might also like contribute that if your senior taking into consideration traveling, it’s absolutely vital that you buy traveling insurance for elderly people. When traveling, retirees are at high risk of having a health-related emergency. Getting the right insurance policies package for the age group can look after your health and provide you with peace of mind.
Howdy! This is my 1st comment here so I just wanted to give a quick shout out and tell you I really enjoy reading your blog posts. Can you suggest any other blogs/websites/forums that cover the same subjects? Thanks for your time!
Hello there, just become aware of your weblog through Google, and located that it’s really informative. I am gonna be careful for brussels. I?ll appreciate in the event you continue this in future. A lot of people might be benefited out of your writing. Cheers!
Thank you for this article. I’d personally also like to talk about the fact that it can be hard when you’re in school and merely starting out to establish a long credit history. There are many individuals who are merely trying to make it through and have a long or good credit history can sometimes be a difficult issue to have.
okmark your weblog and check again here regularly. I’m quite sure I will learn many new stuff right here! Best of luck for the next!
Woah! I’m really enjoying the template/theme of this website. It’s simple, yet effective. A lot of times it’s difficult to get that “perfect balance” between superb usability and visual appearance. I must say you have done a superb job with this. Additionally, the blog loads super fast for me on Opera. Excellent Blog!
I’ve learned many important things as a result of your post. I will also like to convey that there can be situation that you will have a loan and do not need a cosigner such as a Fed Student Support Loan. But when you are getting a borrowing arrangement through a standard loan company then you need to be prepared to have a cosigner ready to make it easier for you. The lenders will certainly base any decision over a few issues but the most significant will be your credit ratings. There are some loan companies that will as well look at your work history and determine based on that but in most cases it will hinge on your ranking.
I have realized some new points from your web site about personal computers. Another thing I’ve always considered is that computers have become an item that each residence must have for some reasons. They provide convenient ways in which to organize homes, pay bills, search for information, study, hear music and perhaps watch tv shows. An innovative approach to complete most of these tasks is by using a laptop. These desktops are mobile ones, small, robust and lightweight.
A further issue is really that video gaming has become one of the all-time main forms of recreation for people of any age. Kids engage in video games, and also adults do, too. The XBox 360 is probably the favorite video games systems for individuals that love to have hundreds of activities available to them, along with who like to relax and play live with other people all over the world. Many thanks for sharing your ideas.
Heya i am for the first time here. I came across this board and I find It truly useful & it helped me out a lot. I hope to give something back and aid others like you helped me.
Thanks for the helpful post. It is also my belief that mesothelioma has an very long latency interval, which means that indication of the disease might not emerge until eventually 30 to 50 years after the preliminary exposure to mesothelioma. Pleural mesothelioma, that is the most common sort and impacts the area round the lungs, might cause shortness of breath, upper body pains, and a persistent coughing, which may produce coughing up blood.
Very nice post. I just stumbled upon your weblog and wished to say that I’ve truly enjoyed surfing around your blog posts. In any case I?ll be subscribing to your rss feed and I hope you write again very soon!
Thank you for sharing superb informations. Your website is so cool. I am impressed by the details that you have on this web site. It reveals how nicely you understand this subject. Bookmarked this web page, will come back for extra articles. You, my pal, ROCK! I found just the information I already searched all over the place and simply could not come across. What a perfect web site.
Wow! I’m in awe of the author’s writing skills and capability to convey complicated concepts in a clear and precise manner. This article is a true gem that merits all the accolades it can get. Thank you so much, author, for providing your wisdom and offering us with such a valuable asset. I’m truly appreciative!
Its like you read my mind! You appear to know so much about this, like you wrote the book in it or something. I think that you could do with a few pics to drive the message home a bit, but instead of that, this is excellent blog. A fantastic read. I’ll definitely be back.
I am no longer positive the place you are getting your information, however great topic. I needs to spend a while finding out more or figuring out more. Thanks for wonderful info I was in search of this information for my mission.
I have seen that car insurance corporations know the automobiles which are prone to accidents along with other risks. They also know what types of cars are prone to higher risk as well as the higher risk they may have the higher your premium price. Understanding the simple basics connected with car insurance will allow you to choose the right kind of insurance policy which will take care of your requirements in case you get involved in any accident. Appreciate your sharing the ideas for your blog.
hello!,I like your writing so much! share we communicate more about your article on AOL? I require an expert on this area to solve my problem. Maybe that’s you! Looking forward to see you.
Wonderful beat ! I wish to apprentice while you amend your web site, how can i subscribe for a blog web site? The account aided me a acceptable deal. I had been tiny bit acquainted of this your broadcast offered bright clear concept
I have noticed that of all different types of insurance, health care insurance is the most marked by controversy because of the issue between the insurance company’s need to remain afloat and the customer’s need to have insurance cover. Insurance companies’ revenue on well being plans are extremely low, thus some firms struggle to gain profits. Thanks for the thoughts you share through this site.
Someone essentially help to make seriously posts I would state. This is the very first time I frequented your web page and thus far? I amazed with the research you made to create this particular publish amazing. Excellent job!
Whats up very cool website!! Guy .. Excellent .. Amazing .. I will bookmark your web site and take the feeds additionally?KI am glad to search out a lot of helpful info right here in the publish, we want work out extra techniques in this regard, thank you for sharing. . . . . .
Hello my friend! I wish to say that this post is awesome, nice written and include almost all significant infos. I would like to see more posts like this.
Hi there! I know this is kind of off topic but I was wondering which blog platform are you using for this site? I’m getting fed up of WordPress because I’ve had issues with hackers and I’m looking at options for another platform. I would be awesome if you could point me in the direction of a good platform.
We are a group of volunteers and starting a brand new scheme in our community. Your web site provided us with valuable information to work on. You have done a formidable activity and our entire group will be thankful to you.
Hello! Quick question that’s entirely off topic. Do you know how to make your site mobile friendly? My blog looks weird when viewing from my iphone. I’m trying to find a template or plugin that might be able to resolve this issue. If you have any recommendations, please share. With thanks!
Can I just say what a reduction to seek out somebody who actually knows what theyre talking about on the internet. You undoubtedly know tips on how to bring a difficulty to light and make it important. More individuals must learn this and perceive this side of the story. I cant believe youre no more in style since you undoubtedly have the gift.
I like the helpful information you provide in your articles. I will bookmark your blog and check again here regularly. I’m quite certain I will learn a lot of new stuff right here! Best of luck for the next!
beauty of the danube delta
Hello! I just wanted to ask if you ever have any issues with hackers? My last blog (wordpress) was hacked and I ended up losing months of hard work due to no back up. Do you have any methods to prevent hackers?
When in doubts, travel. If you still have doubts and need an extra push, this list of amazing adventure quotes will help you get over them
One thing I would really like to say is car insurance cancellation is a dreaded experience and if you are doing the right things being a driver you won’t get one. Many people do obtain notice that they are officially dropped by the insurance company and several have to struggle to get extra insurance after a cancellation. Affordable auto insurance rates tend to be hard to get after a cancellation. Knowing the main reasons regarding auto insurance cancellations can help drivers prevent losing one of the most essential privileges out there. Thanks for the thoughts shared via your blog.
hi!,I like your writing so much! share we communicate more about your post on AOL? I need a specialist on this area to solve my problem. May be that’s you! Looking forward to see you.
Outstanding post however I was wondering if you could write a litte more on this subject? I’d be very grateful if you could elaborate a little bit further. Kudos!
This website online is mostly a stroll-by for all the information you needed about this and didn?t know who to ask. Glimpse here, and also you?ll undoubtedly uncover it.
One thing I have actually noticed is that there are plenty of fallacies regarding the financial institutions intentions when talking about foreclosure. One fable in particular is the fact that the bank wishes to have your house. Your banker wants your money, not your home. They want the amount of money they gave you having interest. Preventing the bank will only draw the foreclosed final result. Thanks for your posting.
Simply wish to say your article is as astounding. The clearness on your submit is just cool and i could assume you’re a professional in this subject. Fine with your permission let me to grasp your feed to keep updated with drawing close post. Thank you a million and please continue the gratifying work.
You guardians do an astounding web diary, and have some unfathomable substance. Continue doing extraordinary.
I have learned some new issues from your website about personal computers. Another thing I have always presumed is that computer systems have become a specific thing that each residence must have for most reasons. They offer convenient ways in which to organize the home, pay bills, shop, study, focus on music and in many cases watch tv series. An innovative approach to complete many of these tasks is with a laptop computer. These pcs are mobile ones, small, strong and portable.
hello there and thank you on your info ? I?ve definitely picked up something new from right here. I did however experience a few technical points the use of this web site, since I skilled to reload the site a lot of instances prior to I may just get it to load correctly. I have been wondering if your web host is OK? Not that I am complaining, but sluggish loading instances times will sometimes affect your placement in google and could harm your high-quality rating if advertising and ***********|advertising|advertising|advertising and *********** with Adwords. Anyway I am including this RSS to my e-mail and can glance out for a lot extra of your respective exciting content. Make sure you update this again soon..
Hey there! I’m at work surfing around your blog from my new iphone 4! Just wanted to say I love reading through your blog and look forward to all your posts! Carry on the superb work!
Pretty section of content. I just stumbled upon your website and in accession capital to assert that I acquire actually enjoyed account your blog posts. Any way I will be subscribing to your augment and even I achievement you access consistently quickly.
Thanks for your write-up. One other thing is the fact individual American states have their own laws that affect property owners, which makes it quite difficult for the our elected representatives to come up with a brand new set of guidelines concerning property foreclosure on house owners. The problem is that a state features own regulations which may interact in an undesirable manner in relation to foreclosure procedures.
Thanks for the suggestions you have discussed here. In addition, I believe there are a few factors which will keep your car insurance policy premium all the way down. One is, to take into account buying motors that are inside the good report on car insurance organizations. Cars that are expensive will be more at risk of being lost. Aside from that insurance policies are also in accordance with the value of your vehicle, so the more costly it is, then higher the premium you make payment for.
I was just looking for this info for some time. After six hours of continuous Googleing, finally I got it in your web site. I wonder what’s the lack of Google strategy that don’t rank this type of informative websites in top of the list. Generally the top sites are full of garbage.
My brother recommended I would possibly like this website. He was entirely right. This submit actually made my day. You cann’t imagine just how much time I had spent for this info! Thank you!
Mybudgetart.com.au is Australia’s Trusted Online Wall Art Canvas Prints Store. We are selling art online since 2008. We offer 1000+ artwork designs, up-to 50 OFF store-wide, FREE Delivery Australia & New Zealand, and World-wide shipping.
hello!,I love your writing very a lot! proportion we communicate extra approximately your article on AOL? I require a specialist in this area to solve my problem. May be that is you! Having a look ahead to peer you.
Thanks for the tips about credit repair on this blog. What I would offer as advice to people should be to give up the particular mentality that they may buy currently and pay later. Like a society most of us tend to do this for many things. This includes trips, furniture, as well as items we want. However, you should separate your current wants from the needs. When you’re working to raise your credit score you really have to make some sacrifices. For example it is possible to shop online to save cash or you can click on second hand retailers instead of expensive department stores intended for clothing.
Greetings I am so grateful I found your web site, I really found you by mistake, while I was searching on Google for something else, Regardless I am here now and would just like to say thank you for a incredible post and a all round entertaining blog (I also love the theme/design), I don’t have time to browse it all at the moment but I have book-marked it and also included your RSS feeds, so when I have time I will be back to read more, Please do keep up the great work.
Another thing I have really noticed is the fact that for many people, a bad credit score is the result of circumstances past their control. By way of example they may have already been saddled having an illness and as a consequence they have high bills going to collections. It can be due to a work loss or maybe the inability to go to work. Sometimes divorce proceedings can send the financial circumstances in the undesired direction. Thank you for sharing your opinions on this website.
It?s really a cool and helpful piece of info. I am satisfied that you just shared this helpful info with us. Please keep us informed like this. Thank you for sharing.
Thanks for your article. I would also like to say that the health insurance brokerage service also utilizes the benefit of the particular coordinators of your group insurance plan. The health insurance professional is given a long list of benefits needed by anyone or a group coordinator. Exactly what a broker may is search for individuals and also coordinators which in turn best match those desires. Then he reveals his advice and if all parties agree, this broker formulates legal contract between the 2 parties.
Hi there! This post couldn’t be written any better! Reading through this post reminds me of my good old room mate! He always kept chatting about this. I will forward this page to him. Fairly certain he will have a good read. Many thanks for sharing!
Hi there would you mind letting me know which web host you’re working with? I’ve loaded your blog in 3 different web browsers and I must say this blog loads a lot faster then most. Can you suggest a good internet hosting provider at a reasonable price? Thank you, I appreciate it!
There are some attention-grabbing time limits in this article but I don?t know if I see all of them heart to heart. There is some validity however I’ll take maintain opinion until I look into it further. Good article , thanks and we wish extra! Added to FeedBurner as properly
I truly appreciate this post. I have been looking everywhere for this! Thank goodness I found it on Bing. You have made my day! Thank you again
whoah this blog is great i love reading your posts. Keep up the great work! You know, lots of people are looking around for this info, you could help them greatly.
Your blog is a true gem in the vast expanse of the online world. Your consistent delivery of high-quality content is truly commendable. Thank you for consistently going above and beyond in providing valuable insights. Keep up the fantastic work!
obviously like your web site but you have to check the spelling on quite a few of your posts. Many of them are rife with spelling issues and I find it very bothersome to tell the truth nevertheless I?ll surely come back again.
One thing is the fact that one of the most common incentives for making use of your card is a cash-back or maybe rebate present. Generally, you’re going to get 1-5 back on various buying. Depending on the card, you may get 1 returning on most expenses, and 5 back again on purchases made on convenience stores, gas stations, grocery stores and also ‘member merchants’.
Your unique approach to tackling challenging subjects is a breath of fresh air. Your articles stand out with their clarity and grace, making them a joy to read. Your blog is now my go-to for insightful content.
I have learned newer and more effective things through your website. One other thing I’d like to say is that newer laptop os’s are likely to allow a lot more memory to use, but they furthermore demand more memory space simply to perform. If one’s computer can not handle far more memory along with the newest software requires that ram increase, it is usually the time to shop for a new Personal computer. Thanks
One thing I’d really like to say is that often car insurance cancellation is a dreadful experience and if you’re doing the correct things being a driver you will not get one. A lot of people do get the notice that they’ve been officially dumped by their particular insurance company they then have to struggle to get supplemental insurance after having a cancellation. Cheap auto insurance rates are usually hard to get after a cancellation. Understanding the main reasons pertaining to auto insurance termination can help motorists prevent burning off one of the most crucial privileges available. Thanks for the tips shared by means of your blog.
I just wanted to express how much I’ve learned from this article. Your meticulous research and clear explanations make the information accessible to all readers. It’s evident that you’re dedicated to providing valuable content.
Good day! This post could not be written any better! Reading this post reminds me of my old room mate! He always kept talking about this. I will forward this article to him. Pretty sure he will have a good read. Thanks for sharing!
This article resonated with me on a personal level. Your ability to connect with your audience emotionally is commendable. Your words are not only informative but also heartwarming. Thank you for sharing your insights.
I wish to express my deep gratitude for this enlightening article. Your distinct perspective and meticulously researched content bring fresh depth to the subject matter. It’s evident that you’ve invested a significant amount of thought into this, and your ability to convey complex ideas in such a clear and understandable manner is truly praiseworthy. Thank you for generously sharing your knowledge and making the learning process so enjoyable.