RI Receives First Stimulus Payment

Providence (WPRI) - The federal government issues its first payment to Rhode Island, as part of President Barack Obama's economic stimulus plan.

$93.5 million was deposited into the state's coffers on Wednesday.  That money is earmarked for Medicaid funding, which would affect programs like RIte Care, provide assistance to local nursing homes, and help developmentally disabled Rhode Islanders.

Over the next two years, Rhode Island expects to receive about $1.1 billion in stimulus money.   But the government is warning all states to spend the money wisely, or risk losing it.

"The governor has to certify within 45 days his intention to use the funds," House Fiscal Advisor Michael O'Keefe told state lawmakers on Wednesday.  "There is a preference for projects that are started and completed expeditiously, that maximize job creation and economic benefit. That is actually stated in the [American Recovery and Reinvestment Act of 2009.]"

The general assembly and governor have final say over  what to do with the stimulus payments.  However, the White House can take the money away if they do not like the way it's being spent.