1. (1) Prevent year-end deficits;
2. (2) Immediately address potential deficits;
3. (3) Immediately address actual year-end deficits; and
4. (4) Stabilize municipal and school district finances.

The purpose of §§ 45-12-22.1 — 45-12-22.5 are to ensure that municipalities and school districts monitor financial operations on an ongoing basis, execute a rapid response to budget problems, and maintain a balanced budget in compliance with § 44-35-10. It is the intent of the legislature to require that municipalities and school districts:

History of Section.
P.L. 2003, ch. 54, § 2; P.L. 2003, ch. 66, § 2.