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3 <br /> Finance Committee <br /> Minutes <br /> February 4, 2016 <br /> OLD BUSINESS: <br /> Emergency Reserve Fund Transfer: (continued) <br /> To date,there have been three individuals expressing interest in the purchase of the property. <br /> When titled is conveyed to the new owners,the Town should recapture some funding. This matter is <br /> ongoing and the Finance Committee will be further engaged in this matter. <br /> LIAISON REPORTS <br /> CIP: <br /> The Capital Improvement Program Committee completed their review today, of capital projects <br /> proposed for fiscal year 2017. Finance Committee member Klenert had an interest in the process and <br /> attended one of the interview sessions. <br /> It was reported capital projects were vetted, questions were asked, and the process is moving forward. <br /> The CIP plans to deliberate on the capital program on Wednesday,February 10,2016. A Public Hearing <br /> will be scheduled thereafter on March 14, 2016 jointly with the Board of Selectmen. <br /> Mrs. Cook indicated the process has been interesting, and at the end of the day,the CIP should make the <br /> right decision for the Town of Mashpee. It was noted that many of the projects are within the que of the <br /> capital improvement program. Funding is anticipated to be utilized from free cash,ambulance receipts, <br /> MCAT funding, and other sources. <br /> For the record,the total CIP requests for FY17 amount to $1,020,000 for all departments. However,this <br /> is an unrealistic figure. The Finance Committee will receive an additional update at their February 18th <br /> meeting. <br /> LIBRARY: <br /> It was conveyed there has been continued budget discussions with the Library. Most of which has been <br /> minor with no major changes to report at this time. <br />