Finance Advisor to Replace E.P. Budget Commission for 5 Years

A Municipal Finance Advisor will take the place of the East Providence Budget Commission in the city starting Monday, Sept. 16, for the next five years.

Paul Luba of Warwick, who has more than 30 years of financial management experience, was introduced by Rosemary Booth Gallogly, the director of revenue for Rhode Island. He will report to her even though he will be an employee of the city with an office in City Hall.

Luba’s $90,000 annual salary and compensation package worth approximately of $130,000 will be split by the city and the state. Each will pay 50 percent of about $65,000 a year.

“This is a great opportunity to stay on the right track set up by the Budget Commission,” said Gallogly. “He should be a great, great help to the city.”

Gallogly said Luba's duties and responsibilities should not conflict with those of the city manager. He is expected to work most closely with Finance Director Malcolm Moore, she said.

Luba’s position was set up by state law to help municipalities deal with financial crises, Gallogly said. Luba is the first finance advisor in Rhode Island under the recently amended law.

Luba said: "I'm really looking forward to helping the city.” 

Most recently, he was the senior vice president and chief financial officer of the former Robert Allen Group from 1987 to 2012. Luba received a buyout in 2012 when that firm was purchased by another corporation that wanted its own financial officer, he said.

Luba also was the manager of corporate accounting for Data General Corporation from 1984 to 1987 and a supervisor accountant for Coopers & Lybrand from 1981 to 1984. 

Luba holds an MBA in public and private management from Yale University and a master of taxation degree from Bentley College.