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r <br /> MASHPEE- FINANCE COMMITTEE MINUTES <br /> SEPTEMBER 30, 1996 <br /> MEETING COMMENCED T PM <br /> Fina ,ce Corrmittee members present : Sid Golub, Chairman; Juan <br /> I. <br /> Baci allupi; Nancy Goulart, Alec Watt; Dan Goggin and Mike Kumin. <br /> Tony Gall.o was unable to attend. The meeting was held at the Carol <br /> Jacobson Senior Center. <br /> Board of Selectmen present : George Costa, Chairman; Nancy Caffyn; <br /> Peter Di"Ni z i o, Kenneth Mars tern and Curtis Frye. Robert <br /> Whritenour; Joyce Mason and the Board of Selectmen s Board <br /> Secretary were also present at the table. <br /> Please note for the record that once the Minutes are approved, the <br /> audio tape will- be reused <br /> The group discussed tax relief . The Executive Secretary explained <br /> that he worked some numbers with Tuan Baci alupi and Mike Kumin and <br /> the goal was to have taxes increase only by 2 1/'2!k in. F'Y9 7, FY9 <br /> and FY99 .. Selectman Caff n asked for a complete. list of monies <br /> which could be utilized. Mr. Golub mentioned that the. Town has <br /> $5 . 6 million including Stabilization which is. $1 .2 million. This <br /> breaks down to approximately $'2 . 8 million in Free Cash, $1 .2 <br /> million in Stabilization, $900, 000 in Overlay Surplus and $750, 000 <br /> Emergency -tate Aid. Mr. Golub also mentioned that certain member <br /> of the Finance Committee also like to look at debt exclusion. Mr. <br /> Golub reminded the groups that they could also expect approximately <br /> $.800, 000 from possible taxpayers, for example, Southport. <br /> Selectman Caf fyn asked if it was- right to hold onto excess money <br /> She asked if they were voting to turn back enough money to the <br /> taxpayers Mr. Golub informed the- group that by using all of the <br /> Overlay Funds from the Assessors, the tax increase- could become a <br /> Ot increase . Mr. Baci alupi agreed with Mr. Whritenour about how <br /> important it was to also ]peep the next few years, stable. It would <br /> be incorrect to be overly generous one year and thea very unstable <br /> the next. <br /> Selectman DiNizio mentioned that the $750, 00-0. Emergency State Aid <br /> has been frozen. Mr. Whritenour stated that he: is meeting weekly <br /> with Representative Cahir and Henry aus enbac- and they expect <br /> those funds to be available by December 1st . If there- is some sort <br /> of delay, Mr. Whritenour expressed that these funds would still be <br /> earmarked for tax relief . Mr.. Golub explained that the problem is <br /> if the $750, 000 comes in after the, tax rate- is set the money will <br /> become Free Cash the following year. Mr. Whritenour answered that <br /> even i f the $750, 000 cones in after the tax rate is set the money <br /> will become. Free Cash and then the $750, 000 will be automatically <br /> used to reduce the taxes next year and there would be a solid three <br /> year program. Mr. Goggin also mentioned that he agreed that the <br /> Town has all of this money and it should be applied to tax relief . <br /> Mr. Golub led. the Executive Secretary if he- has tried to delay <br />