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7 <br /> Finance Committee <br /> Minutes <br /> June 16,2016 <br /> Schools: (continued) <br /> It is anticipated the$1.9 million project would be appropriated at the fall town meeting. In the <br /> process, as the bills are submitted the invoices are reimbursed by the state allocation rate. The <br /> Town would not have to wait until the project is complete to receive reimbursement funds. <br /> However, it was noted the 1/3rd contribution is a rough estimate. With the debt coming off the <br /> Mashpee High School in 2018,there have been discussions with regards to bonding the project. <br /> Mr. Schmidt reported a meeting is planned to be held next week with the respective parties with <br /> respect to this regard. <br /> Finance Committee member Cook serving as a member of the Capital Improvement Program <br /> (CIP) Committee indicated the CIP should be notified and involved in the process. It was noted <br /> the commitment level of the School Department is not known to date. Under the mandates of the <br /> Town Charter all maintenance assumptions derive from the Town and not the schools. The <br /> Town has requested an arrangement with the schools to jointly fund the project and the School <br /> Business Administrator is reviewing options regarding the use of School Choice funds and other <br /> possible funding options. It was noted that one year ago the project estimate was $1.7 million. <br /> The leadtime required for the windows installation is during the summer months when school is <br /> not in session. Chairman Avis strongly suggested the Town develop a contingency plan and <br /> explore grant funding options to offset costs. A brief discussion followed regarding future plans <br /> -that:may be intended for the use of the 40-year building. It has been 27 years since the Coombs <br /> School was constructed. With declining enrollment,there is a possibility the schools may <br /> combine. <br /> UPCOMING FINANCE COMMITTEE MEETINGS <br /> Tuesday,July 21"6:30 p.m.—Mashpee Town Hall, Waquoit Meeting Room <br /> Recommendation of Finance Committee candidate to Town Moderator <br /> .Reorganization <br /> ADJOURNMENT <br /> Motion made by Mr. Klenert to adjourn at 7:41 p.m. <br /> Motion seconded by Mrs. Cook. <br /> VOTE: Unanimous. 5-0. <br /> Roll Call Vote: <br /> Mr. Avis,yes Mr. DelPonte,yes Mrs. Cook,yes <br /> Mr. Klenert,yes Mr. Pettengill,yes Opposed,none <br /> Respectfully submitted, <br /> r <br /> atl�een '`Soares/Finance <br />