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.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.