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3 <br /> Finance Committee <br /> Minutes <br /> March 22, 2018 <br /> APPOINTMENTS & HEARINGS <br /> Public Hearing—FYI Operating Budget: <br /> Chairman Richardson opened the Public Hearing on the FY19 Operating Budget of the Town of <br /> Mashpee. In accordance with posting requirements, the Hearing notice was read aloud into the <br /> record. <br /> Town Manager Rodney C. Collins was in attendance to review his budget recommendations to <br /> fund the FYI Town of Mashpee's municipal operations fiom July 1, 2018 through June 30, <br /> 2019. The total budget recommendation for Fiscal Year 2019 is $57,029,039. The budget is <br /> reflective of a 2.3% increase of both the Town and School Departments fiom last fiscal year <br /> absent of fixed costs. <br /> Town Manager Rodney C. Collins indicated the budget as presented is a reasonable level service <br /> balanced budget. The Town Manager and his Financial Team have taken a conservative stance <br /> udget that is restrained to ensure the level of services that <br /> to bring forth a fiscally responsible b <br /> are currently sustained will be retained. <br /> As a result of several discussions with the School Department, the balanced budget is reflective <br /> of an agreed sum of$21,381,532 to fund the FYI School Budget. <br /> Budgetary drivers include personnel salaries and wages which are contractually driven and <br /> medical/retirement benefits. In terms of the wage structure, adjustments intend to be negotiated <br /> in the collective bargaining process. <br /> As previously stated, Town Manager Rodney C. Collins indicated his position is to conform to <br /> standard by continuing to adhere to the median of the Cape and its 15 towns to remain <br /> competitive to recruit and to retain quality personnel. <br /> The Finance Committee reviewed each line item of the FYI Operating Budget recommended to <br /> fund each Department's salary and expense including the annual debt expectations both principal <br /> and interest and the funding levels for other town related expense items. <br /> Motion made by Mr. McKelvey to close the Public Hearing. <br /> Motion seconded by Mr. Pettengill. <br /> VOTE: Unanimous. 5-0. <br /> Roll Call Vote: <br /> Mr. Richardson,yes Mr. Pettengill,yes Mr. McKelvey,yes <br /> Mr. McCahill,yes Mrs. Furbush,yes Opposed, none <br />