Fiscal Advisor, Not AFO, Coming to E.P.

East Providence will not be getting an administrative and finance officer (AFO) after all. But it will still have to pay half of the compensation for a fiscal advisor.

Amendments made to the state’s Fiscal Stability Act and approved by the governor eliminated the position of AFO, City Manager Peter Graczykowski announced in a press release Thursday afternoon.

Instead, said Graczykowski, who was not happy with the appointment of an AFO, “a fiscal advisor will assist the City and Schools with monitoring the overall budgetary and financial administration, and fiscal health of the City.

“The existence of this advisor does not remove any duties from existing City positions, and is more compatible with the City Council – City Manager form of government in East Providence or similar municipalities,” he said. 

Graczykowski said the fiscal advisor will be appointed by and report to the state’s director of revenue, Rosemary Booth Gallogy, when she determines that the East Providence Budget Commission is no longer needed. 

The appointment of a fiscal advisor will still be for five years, and it will cost the city 50 percent of the advisor's compensation.

“The appointment of a fiscal advisor will provide an opportunity for East Providence to retain an extension of fiscal oversight that should be viewed positively by rating agencies; while not creating a position with duplicative duties and unnecessary financial burden to the taxpayers,” Graczykowski said.

“Also, personnel matters are not under the jurisdiction of this position, but properly with the City and Schools. Most importantly, the fiscal advisor will be helpful to the City and Schools in adhering to the structurally balanced five-year fiscal stability plan developed by the Budget Commission.”

Graczykowski gave credit for changing the law to Sen. Daniel DaPonte, Sen. William Conley Jr., Rep. Helio Melo, Rep. Gregg Amore and Rep. Katheine Kazarian. He also praised Assistant Mayor Thomas Rose Jr. for his “tireless advocacy on this issue.”