R.I. Gen. Laws § 44-35-2: Purpose.

The purpose of this chapter is to:

(1) Establish a procedure under which towns and cities may levy property taxes;

(2) Provide for full disclosure of the effect of rate and base changes on property tax revenues;

(3) Establish a procedure for public hearings on proposed budgets;

(4) Require municipalities to adopt a balanced budget; and

(5) Provide for fiscal oversight of municipalities incurring an operating deficit or an accumulated deficit in the preceding fiscal year.