Yesterday, Warwick Watch highlighted the City's total outstanding debt, this does not include the health insurance costs for retired City and School employees.
The chart below shows how the debt for the City has massively increased over the past 11 years. The reason for the enormous increase in debt displayed for 2015 & 2016 is because the Government mandated new accounting rules to give a more complete and accurate picture of a City's actual financial health.
Keep in mind Avedisian had this information for years and failed to disclose it, because the Govt. didn't force him to.
Next week , Warwick Watch will show you what we owe to pay for the healthcare costs for retired City and School employees.
Brace yourselves, because the liability is massive and we pay it as we go, because Avedisian has never put even $1 aside to pay for it all.
How can the City Council Finance Committee members... Councilmen Ladouceur, Howe and McAllister ignore this?
Significant cuts have to be made in the City employees benefit packages!
At the next City budget hearings in May of 2018, you will have no excuses for another tax increase!
Remember, it's the year of the taxpayers.