After more than two decades of dedicated service, Laura L. Sitrin, Newport’s esteemed Finance Director and Interim City Manager, has announced her retirement.
Sitrin informed the City Council of her decision on Tuesday, July 9th, expressing her gratitude in a heartfelt letter. “I am deeply honored to have had the opportunity to serve the City of Newport for the last 22 years, and to work with such a dedicated and remarkable group of employees,” she wrote.
Sitrin began her tenure in 2002 as the Finance Director, stepping in during a period of significant financial challenges, including chronically underfunded pension liabilities and other post-employment benefit obligations. Over the years, she has played a crucial role in transforming Newport’s financial landscape.
Under her leadership, Newport has achieved one of the highest bond ratings in the state and boasts one of the lowest residential tax rates among Rhode Island’s 39 cities and towns. Sitrin was also the architect of the City’s innovative two-tier residential tax rate program.
For the past 10 months, Sitrin has served as Interim City Manager following the departure of longtime City Manager Joseph J. Nicholson, Jr. During her interim tenure, she proposed significant changes to the City Administration, including a departmental reorganization to enhance the City’s resilience to climate change, the development of a $98.5 million infrastructure bond set to be voted on in November, and a residential tax rate that kept the average Newport homeowner’s tax bill unchanged despite rising property values.
Sitrin’s leadership has earned Newport numerous accolades from the Government Finance Officers Association (GFOA) for its Annual Budget, Comprehensive Annual Financial Report, and Popular Annual Financial Report. In 2022, Newport was the only community in Rhode Island to receive the prestigious GFOA Triple Crown Award.
Sitrin’s last day will be August 9th.
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