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Woonsocket reveals full extent of school deficit

March 6, 2012

Mayor Leo Fontaine says the Woonsocket school department is more than $7 million in the red this year and bankruptcy is a real possibility for the city. The budget shortfall comes after Woonsocket schools ran up a $3 million deficit last year.

According to the Providence Journal, Governor Lincoln Chafee’s administration stopped short of predicting bankruptcy for Woonsocket. State Revenue Director Rosemary Booth Gallogly said both the city council and the school committee seem committed to solving their fiscal problems.

State officials say they will keep a watchful eye on Woonsocket to see what progress local officials are able to make to reduce the school department deficits.

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