WBOB Original Reads

North Providence Mayor Endorses Almonte for Treasurer

9/10/2014

Ernie Almonte, Independent candidate for Rhode Island General Treasurer today announced the endorsement of North Providence Mayor Charles Lombardi. Mayor Lombardi had previously endorsed Democratic candidate Frank Caprio, who was defeated by Seth Magaziner in Tuesday night's primary.

“As Rhode Island’s Auditor General, I worked hand in hand with Mayor Lombardi to develop and approve a financial action plan for the town of North Providence,” said Almonte. “The leadership he exercised during that process is a big part of the reason North Providence is on stronger financial ground today. I am honored to receive the Mayor’s endorsement.”

“Ernie gets what Rhode Island’s cities and towns are going through," said Mayor Lombardi. "His financial expertise helped turn North Providence around, and we need someone with that kind of experience in the Treasurer’s office. Ernie has always been a friend to North Providence, and has never shied away from giving realistic financial advice and assessments, as well as strategic recommendations for the future.”

As Rhode Island’s Auditor General, Almonte was called into the town of North Providence “during some of the darkest days of [the town’s] financial crisis” to assess the distressed financial situation and develop an action plan with recommendations for recovery. Working with the Mayor, Town Council, School Committee, and other local leaders, Almonte clarified the town’s financial situation, offered recommendations, and helped approve a financial solution package.

In 2013, following recovery from the financial crisis in North Providence, “Standard & Poor’s gave the town an A bond rating for the first time since the agency started rating North Providence in 1998.”

Almonte’s Vision for Rhode Islan d includes a plan to install a team of municipal financial experts within the Treasurer’s office. This team will serve as a resource to Rhode Island’s municipalities, and will be deployed to cities and towns to help provide realistic assessments and recommendations regarding their unique financial situations.