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Council hears concern about low cash balances; finance director outlines ARPA reconciliation and water rate increases
Summary
Councilors flagged year‑end low cash balances, delayed audits and ARPA reimbursements; finance director and council discussed a PUC‑approved water rate increase that will raise blended customer rates now by ~22% and overall to about 33%.
Council members at the Jan. 13 Woonsocket City Council meeting pressed finance staff for more detail after receiving the December finance report and enterprise fund statements.
Councilman Kenoyer said combined year‑end cash balances for the general fund and Woonsocket Education Department were at one of their lowest points in recent years and urged staff to finish audited financial statements for 2023 and 2024 so councilors and department heads could plan. Finance Director (name given in meeting) said auditors aim to complete 2023 by February and then start 2024.
Kenoyer and others discussed outstanding ARPA/Opera reimbursements and an apparent $1.1 million variance between bank balances and the accounting ledger; staff said some opera‑related purchases are awaiting reimbursement and that there are outstanding checks and pending reimbursements to reconcile.
Water rates: Council discussion referenced Rhode Island Public Utilities Commission docket 4879 and a city‑requested rate filing. Councilman Kenoyer summarized a blended increase from $4.65 to $5.68 (a ~22% increase for the current quarter) and an eventual blended rate of about $6.19 (about a 33% total increase). Staff and councilors stressed the increase was at the city’s request to support capital costs including a new water treatment plant that had cost roughly $56 million.
Council members reiterated the need for clearer, less cluttered finance reports (suppressing all‑zero lines), timely reconciliations and a plan for outstanding receivables. The council received and placed on file the December finance, ARPA and enterprise reports after discussion (25 CO02, 25 CO10, 25 CO15).
