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Providence Expecting Another Surplus

The city of Providence is expecting a fourth consecutive fiscal surplus under Mayor Jorge Elorza. The mayor announced on Wednesday that the city is expecting a year-end operating surplus of eight-and-a-half-million dollars and that the city's rainy-day fund has now grown to twenty-million. Chief Financial Officer Lawrence Mancini says the city's unfunded pension liability of one-billion dollars remains a concern, but that the surplus is good news.

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