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5 <br /> Finance Committee <br /> Minutes <br /> November 17,2016 <br /> APPOINTMENTS & HEARINGS <br /> Town Manager—5._102O Year Projected Budget Presentation_(continued) <br /> Craig Mayen,Treasurer/Tax Collector indicated the Board of Selectmen is expected to formalize <br /> policy for the Town's next bond rating to maintain the financial health of the Town of Mashpee. <br /> The Board of Selectmen is expected to formalize policies before the Town would go out to bond. <br /> This type of financial awareness has been recommended and will positively affect the Town's <br /> bond rating with Standard and Poor's. <br /> With regards to the Cape Cod Technical School, Rodney C. Collins Town Manager indicated <br /> there was a presentation recently made to the Board of Selectmen. Cost estimates for renovation <br /> and/or new construction are currently being evaluated and the cost projection ranges from$25 <br /> million to as high as$ISO million. Twelve member towns are involved in the process. The <br /> option is selected by majority vote, and if the Town was to vote not in favor of the project, <br /> Mashpee would remain liable to contribute towards the project. The preferred option should be <br /> made known by the end of the year. Warrants are anticipated to be sent to participating <br /> municipalities at the end of August for the district-wide election on October 24, 2017. Dawn <br /> Thayer, Finance Director represents the Town of Mashpee on the School Building Committee. <br /> The Town is expected to get updates on the project proposal. <br /> Discussion followed with respect to the potential forthcoming debt. If the Town of Mashpee was <br /> to withdraw from the technical school,the Town would still maintain responsibility for building <br /> improvements and the participating towns would most likely not vote Mashpee out of the <br /> district. Currently 59 Mashpee students attend the Cape Cod Technical School. <br /> School Committee liaison George Schmidt affirmed if the Town was to opt out of the technical <br /> school program,the Town would be liable for the improvement costs. In addition to this cost <br /> projection,the Cape Cod Collaborative intends to relocate to the Town of Bourne and additional <br /> costs may be required for the relocation of this program. <br /> It was agreed this is a great deal of funding for 59 students. The possibility of providing more <br /> programs in-house to keep the Town's financial contributions downwards was considered. In <br /> response,Mr. Schmidt stated the Mashpce High School has developed excellent programs that <br /> rival technical and other schools. Presently, enrollment at the high school has increased slightly <br /> and it is anticipated it will grow further. Mr. Schmidt indicated he would discuss the curriculum <br /> with members of the School Committee. <br />