§ 45-9-10.1. Appointment of administration and finance officer upon abolition of a fiscal overseer,
or a budget commission or a receiver where no chapter 9, title 11 petition filed.
(a) Notwithstanding any general or special law, or city or town ordinance, or rule or
regulation to the contrary, this section shall apply upon the abolition of the fiscal
overseer, budget commission, or receiver where the receiver has not filed a petition
for Chapter 9, Title 11 of the United States Code, upon a determination, in writing,
by the director of revenue that the financial condition of the city, town, or fire
district has improved to a level such that a fiscal overseer, budget commission, or
receiver is no longer needed.
(b) For a period of five (5) years after the abolition of a fiscal overseer, or a budget
commission, or a receiver, where the receiver has not filed a petition for Chapter
9, Title 11 of the United States Code, a finance advisor shall be appointed for the
city, town, or fire district by the director of revenue. The finance advisor shall
be an employee of the city, town, or fire district. The finance advisor shall be responsible
for monitoring the overall budgetary and financial administration and fiscal health
of the city, town, or fire district. The finance advisor shall report to the director
of revenue.
(c) The finance advisor shall be appointed solely on the basis of his or her qualifications
and shall be a person especially fitted by education, training, or experience to perform
the functions of the position.
(d) The finance advisor shall have complete access to the financial books and records
of all offices, departments, and other agencies of the municipal fire district government
and, without limitations:
(1) Recommend to the elected chief executive officer, city or town council, or fire district
governing body, and school committee sound fiscal policies for implementation and
monitor implementation;
(2) Monitor and oversee all financial operations and activities including the city's,
town's, or fire district's operating and capital financial plans to maintain fiscal
stability;
(3) Review operational results of various city, town, or fire district funds and evaluate
the structural soundness of each;
(4) Advise the assessor, director of finance, city or town treasurer, purchasing agent,
and employees performing similar duties but with different titles;
(5) Provide assistance in all matters related to municipal or fire district financial
affairs;
(6) Review and approve the development and preparation of the annual municipal or fire
district budget, all department operating and capital budgets, and spending plans;
(7) Review and approve all proposed labor contracts and obligations to determine if consistent
with a structurally balanced, five-year (5) plan;
(8) Monitor the receipt of revenues and expenditures of all funds with the assistance
of city, town, or fire district staff;
(9) Participate in rating agency calls pertaining to the city, town, or fire district;
(10) Determine compliance with the various ordinances, laws (federal and state), and rules
and regulations related to receipt and expenditure of city, town, or fire district
funds;
(11) Provide comment to the local governing body on the annual or supplemental municipal
or fire district budgets of the city, town, or fire district and all of its departments;
(12) Report quarterly to the chief elected officer, city or town council, fire district
governing body, director of revenue, the auditor general, the governor, and the chairpersons
of the house finance and senate finance committees on the progress made towards maintaining
fiscal stability and all financial operations of the city, town, or fire district;
(13) Make recommendations to the elected chief executive officer, city or town council,
fire district governing body, school committee, and the director of revenue, as appropriate,
to begin to address any operational and/or structural deficit;
(14) Make recommendations to the elected chief executive officer, city or town council,
fire district governing body, and school committee, as appropriate, to have operational,
performance, or forensic audits, or similar assessments conducted;
(15) Report any: (i) Inappropriate expenditure; (ii) Any improper accounting procedure;
(iii) All failures to properly record financial transactions; and (iv) Other inaccuracies,
irregularities, and shortages, as soon as practical to the elected chief executive
officer, or in the case of a municipality without an elected chief executive officer,
the city or town council, or in the case of a fire district, the fire district governing
body; and
(16) Notify in writing as soon as practical, the elected chief executive officer or the
city or town council, or the fire district governing body; if the finance advisor
discovers any errors, unusual practices, or any other discrepancies in connection
with his or her work.
(f) The city or town, including the school department or fire district, shall provide
the finance advisor with any and all information requested in a timely fashion.
(g) The city, town, or fire district shall annually appropriate amounts sufficient to
cover the costs of the administration and finance officer. The state shall annually
reimburse the city or town for fifty percent (50%) share of such costs.
(h) The city, town, or fire district, at its expense, shall provide office space and adequate
resources needed by the administration and finance officer in the performance of his/her
duties.
(i) Nothing contained herein removes duties from existing positions in the city, town,
or fire district.