1/21/2016 FINANCE COMMITTEE Minutes

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Finance Committee Minutes January 21, 2016 Committeg,hison Reports CIP: (continued) To begin the process,the CIP is scheduled to conduct an organizational meeting to initiate the assessment of capital project requirements and recommendations for the purpose of funding the FY2017 Capital Improvement Program. During this time,revenue available for appropriation is discussed. On Thursday, January 28, 2016,the CIP will meet with the Department of Public Works, representation from the Planning&Construction Committee and School Department. On Tuesday of the following week,the CIP is scheduled to review budgetary needs with the Police Department,the Sewer Commission and Recreation Department, On Thursday,February 4, 2016 the CIP has arranged to discuss the Selectmen's proposed budget, and meet with respective Department Heads to review recommended disbursements for the Fire Department and Information Technology Department. In reviewing the outline of the proposed capital plan of all departments for fiscal years 2017 through 2022 in comparison to last year,Mrs. Cook indicated there appears to be a lot of costly requests, especially with the Sewer Plan. The CIP is fortunate to have returning members, and it is anticipated a realistic plan would be developed in terms of affordability; needs vs. requests. Mrs. Cook stated the capital planreview and determination is an interesting and thorough process. After the initial departmental meetings,the CIP determines the projects planned to move forward within budgetary constraints. It was noted that projects over a certain amount of money and with a certain life span are generally considered for the CIP program. Some of the projects move forward with funding from the Mashpee Cable and Advanced Technology (MCAT)account,from the Ambulance Receipts Account, grant funding sources and with surplus funds(free cash). Projects such as the Police Department and DPW lease purchase programs are required to be funded by available revenues to continue lease vehicle and equipment obligations. It was noted in FYI 2, the CIP recommended that a capital bond in the amount of$1.5 million be implemented to fund much needed infrastructure improvements prioritized by the Planning& Construction Committee. The issuance of the bond was approved by a vote of Town Meeting. The funding assisted with building repairs and upgrades to town facilities. 4