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I have met with Finance Director of the Warwick Public Schools, Anthony Ferrucci in regards to this matter in December 2017. He respects my view that Warwick does not need this extra cash reserve fund. As health insurance costs increase, so would the premiums, just like they do if you had a personal Blue Cross Policy. I respect his opinion, although I don't agree with it. He feels that Warwick needs the multi-million dollar cash reserve to keep the changes from being too sudden.

The fact that Warwick has, as of this date $1,800,000 in the fund shows that the taxpayers have paid $1,800,000 that they really didn't need to pay when they did. Have you ever sent a creditor more money than you owed them?

In essence his plan is for the taxpayers to overpay today just in case we need extra money to cover tomorrows rate increases.

I say that if we need a dollar from the taxpayers we shouldn't bill them for more today just in case we might need it tomorrow. If Blue Cross ever finds out that Warwick has extra money I can bet they will be raising their rates accordingly. They are not a billion-dollar non-profit agency for nothing.

I respect Mr. Ferrucci's opinion and I sincerely appreciated the quality time he gave me but I don't agree with his math.

Sincerely,

Rick Corrente

The Taxpayers Mayor