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2/2/1999 FINANCE COMMITTEE Minutes
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2/2/1999 FINANCE COMMITTEE Minutes
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Mashpee_Meeting Documents
Board
FINANCE COMMITTEE
Meeting Document Type
Minutes
Meeting Date
02/02/1999
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Mr.I umin questioned Mr. Whritenour concerning taking the whole Capital Improvement <br /> Program and having a debt exclusion. Mr. Whritenour stated that it can be done under.the <br /> law;however, it is not really a wise thing to do because you are taking all your capital and <br /> putting it out there and-it'could ld f5iYand no v you have no capital. In addition,when you do <br /> that, it is a one-year debt exclusion and it does not solve the problem. <br /> He stated that he much prefers Kguring out the needs of the town,keeping the capital at a <br /> rewnable level and not let it get out of hand,and then saying that this is how short we are. <br /> He added that then to put that out there for a one-ti-me incr ase to the levy limit: In addition, <br /> then,with the school budget, go 2-1/2%from now on. <br /> Mr. Whritenour gave the Finance mmittee an update on the CIP. He stated that the CII' <br /> Committee is doing extremely well. He said they are stabilizing where they stand on the <br /> equiment. He noted-that after four years on an equipment replacement program,'now,the <br /> costs of new equipment are stabilizing and he does not see a lot of growth there. He added <br /> that the problem with CIP is that there are a couple of uirding projects—the Fire Station qnd <br /> another couple of building in future gears. He said the Fire Station is a stand-alone debt <br /> exclusion and the other buildings may stand-on their o". <br /> Mr. Whritenour updated the Finance Committee on the factthat the Open Space Committee <br /> took a vote that they will-place ars Article on May TO n l rf eting to attempt to purchase the <br /> Belcher property out of the Land Bank. <br /> W. Whritenour reviewed-the following items which are in line to affect an increase in'the <br /> property tax rate: <br /> Potentially,the 2 'cents on Belcher property,which is a debt eclbsin. <br /> Fire station,which is a debt exclusion. <br /> Rote tial-override f r the Rhool'and"pos ibly,the Town Govermn nt. <br /> Land Bank in the amount o %. <br /> sewer project plan which is coming in at over$300-000 for the growth center area, <br /> which includes 11rlashpee Commons. <br /> Mr. Whri <br />
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