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Chairnnan watt noted that Free Cash is not certified at this time. <br /> Mr. Golub commented that he has a question on the$200,000 berg kept in Free Cash. He <br /> noted that he does not see any justification for it. He suggested that it could be kept in the <br /> reserve account or be transferred to the stabilization fund, <br /> i <br /> Chairman Watt noted to the Finance Committee that the consensus last night at the meeting <br /> for funds to offset the tax rate were$500,000 from overlay,$500,000 from E=cash,and <br /> $500,000 from stabilization,for a total of$1,500,000 for the total tax levy offset. <br /> There was discussion concerning the appropriation for Article 9—appropriation and transfer <br /> from available funds a sum of money to offset the fiscal year 1998 tax levy: $5009000 from <br /> overlay,$500,000 from gabilization,and actually$833,197 from free cash for a total of <br /> $1,833,000. <br /> The Finance Committee discussed the distribution of Free Cash— <br /> • In Free Cash,there is a balance of$1350013000. <br /> • The balance to remain in Free Cash suggested by the Selectmen is$200,000. <br /> • The amount to go towards the tax rate is$833,197. <br /> • The amount to transfer into stabilization is$273,851. <br /> • The amount for Town Meeting Articles is$192,952. <br /> It was noted that the projected tax rate impact suggested is 5.68%. <br /> Mr. Goggin distn`buted to the Finance Committee a listing of the tax rates for all of the <br /> municipalities on Cape Cod. He noted that Mashpec has the second highest tax rate on Cape <br /> The Finance Committee discussed the School Budget and the effect it is having on this year's <br /> tax rate and how it will affect the fiscal year 1999 projected tax rate. <br /> The Finance Corer iuee noted that at Town Meeting,the taxpayers' reed to be made aware <br /> that the budget they approve in May will affect their tax rate in November. <br /> There was discussion concerning whether more should be applied to the tax rate increase this <br /> year or apply it to next year in order to nye taxpayers aware of the impact that the school <br /> budget has on the tax rate. <br /> Motion to remain with Selectmen Recommendation <br /> for Tax Relief: <br /> Mr.Ku in made a motion that the Finance Committee stay <br /> with the recommendation of the Selectmen m the amount of <br /> $1,500,000 for tax relief. Motion second by Mr. Goggin <br /> Approved, Kumin, watt <br /> Opposed: Cleary, Goggia, Golub, Goulart <br /> Not Passed: 2 Approved/ Opposed <br />