NS #1! (For Budgeting for Unknown Expenses)

Take a look at the chart below. The amount North Smithfield budgets for un-designated contingencies as a percentage of the total budget is the highest in the state. As you can see most municipalities try to keep this number low because budgeting a high number increases the tax rate. An “undesignated contingency” is when you budget for an unknown expense that “might” occur, as opposed to a “designated contingency” which sets aside money for an identifiable and probable expense that you expect to incur (example: a pending legal settlement payment).

A "yes" in the verified column indicates the municipality emailed me back to confirm the accuracy of the numbers.

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