10/4/2016 BOARD OF SELECTMEN Minutes

Home Browse Search

2 Board of Selectmen Minutes October 4, 2016 Present: Selectman Gottlieb, Selectman Cahalane, Selectman O'Hara, Selectman Cotton, Selectman Sherman Town Manager Rodney C. Collins Assistant Town Manager Wayne E. Taylor Meeting Called to Order by Chairman Gottlieb at 6:30 p.m. Mashpee Town Hall, Waquoit Meeting Room NEW BUSINESS Presentation and discussion of lona term fiscal analvsis/elan for the Town: The Board of Selectmen met with the Financial Team consisting of Dawn Thayer Finance Director, Jason Streebel Town Assessor and Craig Mayen the Treasurer/Tax Collector for the purpose of reviewing the long term fiscal analysis and plan for the Town of Mashpee through fiscal year 2027. Prior to the onset of discussion, Town Manager Rodney C. Collins commended his Financial Team for contributing their time, research and professionalism to prepare a 10 -year financial forecast document for the Town of Mashpee. On behalf of the Financial Team Dawn Thayer outlined the financial conjectures surmised in developing the financial strategies which are comprised in nine different scenarios. After reviewing the operating budget over a six year span from 2011 through 2017 budget assumptions are based on departmental increases and fixed costs including debt for renovations to the Cape Cod Regional Technical School, and costs associated to health insurance, capital expenditures and the Quashnet School window and door replacement project. Scenario 1 is the basis base projection used in each analysis. Scenario 1 (FYI 8 -2027) does not include wastewater projections. Budget assumptions include a department budget both non -educational and educational and is reflective of an increase of 2.5%. Fixed costs consider an increase of 2.5% with the exception of LIUNA increased at 10% and in health insurance increased by10% per year. It is anticipated the budget would include an additional $300,000 assessment for the Cape Cod Technical School project beginning in FY2022 although exact figures are not fully realized to date. The first bond payment is included in projections for the Quashnet School window project anticipated to begin in FY2021. With capital improvement programs, building renovations and road projects a $3.8 million bond is recommended with bond payments to begin in FY2022. The budget recommendation to provide for a capital debt exclusion for a $3.8 million bond is included in all scenarios. The override would maintain the level of services through fiscal year 2027. However, pending wastewater debt is not included in this assumption. The Board of Selectmen requested a detailed analysis of debt configured in the $3.8 million bond proposal.