Budget Commission Secures Cash for City Through April

East Providence will have enough cash to get through April.

The state-appointed budget commission decided to utilize a line of credit totaling $15 million from Citizens Bank to act as a financial safety net. If administrators don't need to borrow, the city is charged $1,000 a month for the option.

"It's a good thing to have," said Chairman Michael O'Keefe, during a Tuesday afternoon meeting held at .

It's anticipated Finance Director Ellen Eggeman will be able to hold off paying a small list of vendors about $5 million until tax bills are collected in the summer. 

If residents decide to pay their taxes in full, they will receive a two percent discount; members previously discussed giving a three percent discount if residents paid in April.