City of Fall River: A Multi-Year Financial Plan

Report National Resource Network Fall River, Massachussetts December 30, 2014 Economic Development

In August 2014, the National Resource Network and the City of Fall River began their partnership. In December 2018, the Network produced The Fall River Plan.

As of May 2014, Fall River’s unemployment rate was 9.4 percent. More than one-quarter of City residents – and over forty percent of residents under the age of 18 – live in poverty. In part, poverty and unemployment rates are due to the mismatch between skills and employment opportunity. One in four Fall River adults, including many former mill workers, lacks a high school degree. The City faces significant operating budget challenges related to a service-delivery model that is not sustainably aligned to funding levels. The City had a roughly $15 million budget gap heading into FY2015 due to factors including a mid-year increase in School District transportation costs, a $2 million decline in state aid for the School District, an approximate $1.7 million revenue loss resulting from a landfill closure, and the loss of SAFER grant funding for roughly 70 firefighters.

The Network developed a multi-year financial plan for Fall River, including recommendations to establish the right size and cost of government while still investing resources in education.

The Network’s engagement team in Fall River was led by Network consortium member PFM; this work was done as part of the Massachusetts State Resource Network (MassSRN).

City of Fall River: A Multi-Year Financial Plan