RI reaches agreement on Central Falls contracts

By the Associated Press | November 23, 2011 | 10:05 AM EST

CENTRAL FALLS, R.I. (AP) — The Rhode Island appointed receiver in Central Falls has reached a negotiated agreement with the city's public employee unions that saves a little more than $1 million in the current fiscal year.

State Receiver Robert Flanders Jr. describes the agreement as a major step forward in the city's bankruptcy proceedings.

Officials on Wednesday announced the new contracts reflecting deep concessions by police, firefighters and municipal employees. Gov. Lincoln Chafee (CHAY'-fee) says the new contracts have been signed.

One of the lead negotiators says the savings come largely from changes in health care benefits and overtime.

The president of the local Fraternal Order of Police union says everyone gave up something to reach the agreement.

Flanders filed for bankruptcy protection on behalf of the city in August.