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Newton Mayor: City's Financial Crisis Over

Setti Warren said the city now has a rainy day fund of $13 million. That fund was zero in 2010.

Newton Mayor Setti Warren. File photo.
Newton Mayor Setti Warren. File photo.
Newton Mayor Setti Warren last week declared the city no longer has a financial crisis.

Warren made the remarks as he presented the city's annual budget package.

"In 2010, when I took office, Newton faced a financial crisis, crumbling capital and infrastructure," he said. "The city had no rainy day fund. We established that fund and have built it up to $13 million, and plan to increase that number to $15 million."

Read Warren's full remarks here

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