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Panel: Years to eliminate deficit

September 14, 2012

WOONSOCKET — During an impromptu summary of its progress in addressing the city’s financial crisis Thursday, members of the Budget Commission predicted it will take three to five years to eliminate a deficit on track to reach about $14 million by the end of the fiscal year.
The panel has been gathering information about, and discussing, shrinking personnel costs in several keys ways, including eliminating cost of living adjustments for police and fire department retirees, reducing current staff in those areas and putting every city employee on one, unified health plan.

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