The purpose of § 45-12-22.1 — § 45-12-22.5 are to ensure that municipalities and school districts monitor financial operations on an ongoing basis, execute a rapid response to budget problems, and maintain a balanced budget in compliance with § 44-35-10. It is the intent of the legislature to require that municipalities and school districts:

(1)  Prevent year-end deficits;

(2)  Immediately address potential deficits;

(3)  Immediately address actual year-end deficits; and

(4)  Stabilize municipal and school district finances.