Unlike many of its Rhode Island neighbors, Jamestown “is in good fiscal shape,” an auditing firm told its Town Council.
Speaking at a council work session, Baxter Dansereau & Associates LLP cited the island community’s healthy pension funding asset levels of $1 million, the Jamestown Press reported.
According to the newspaper, Paul Dansereau, a partner in the firm, also said the town’s unreserved fund balance stands at 181% of its total budget. That amount is well above the 15% the three major rating agencies recommend.