Report details Warwick’s financial issues

By: Brittany Comak

Email: BComak@abc6.com

Twitter: @BComakABC6

WARWICK, R.I. (WLNE) – Members of the Warwick Financial Crisis Committee say the latest audit of the city shows that its financial health continues to worsen.

Residents packed into the public library Monday to hear the report broken down.

“Well I think we’re in very bad shape,” said resident Irene Dolce following the presentation.

City Council President Steve Merolla says the report shows that the pension and health care benefits are one of the biggest issues for the city, totaling $860 million, that they don’t have.

“That bill isn’t due tomorrow,” said Merolla. “But it is due in the future.”

Rob Cote, who went over the report for residents, says that even if the city raised taxes every year over the next five years to try to cover the costs, the city would still be in the hole $125 million.

“The point is, there’s not enough money,” said Cote. “We do not have enough money, and we cannot raise taxes enough to cover the bills.”

Many pointed to the lifetime contracted healthcare benefits as one of the biggest problems.

“They got to stop paying benefits to retirees,” said resident Richard Langseth.

Others say they simply cannot afford a tax hike.

“I don’t want to be here anymore,” said resident Robin Kemp. “I would like to just put my house on the market. But in good conscience I couldn’t tell anyone to come here and buy this knowing what I know.”

Many Monday said they see receivership as the only next option for the city, while Council President Merolla said he doesn’t think they’re quite there yet.

Merolla plans to have a special council meeting next Wednesday solely on the report where the public can ask questions.

In a statement, Mayor Solomon said in part: “I am comfortable that the City is on good financial footing and we will continue our efforts to ensure the long-term fiscal health of our community.”

WLNE-TV / ABC6 2019