Investor Presentaiton

Adjusting to the Volatility of Revenues How has Rhode Island performed on these benchmarks? 3. Adjust expenditures September 30, 2013 In FY 2009 eliminated the reimbursement of foregone local property tax revenue from the exemption value of motor vehicles Passed constitutional amendment that reduced the percentage of estimated general revenues that can be budgeted from 98.0 percent to 97.0 percent increasing the budget reserve fund In 2011 passed the Treasurer's Rhode Island Retirement Security Act which reduced the unfunded state pension liability by $3.0 billion FTA Revenue Estimation and Tax Research Conference 18

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