9/7/1999 FINANCE COMMITTEE Minutes

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WARRANT ANALYSIS TOWN OF MASHPEE FINANCE COMMITTEE ANNUAL TOWN MEETING MONDAY, OCTOBER 4, 1999 AT 7:30 P.M. MASHPEE MIDDLE SCHOOL This is the Finance Committee's recommendation to the Town's citizens on the Town Meeting Articles, as required under the local bylaws. The Finance Committee's mandate is to act as the fiscal watchdog of the community and, as such, has made serious inquiry and analysis of various articles and our recommendations are found herein. The guiding policy of the Finance Committee is to ensure that the Town lives within Proposition 2-112. Most Departments have successfully P P submitted budgets that have stayed within this guideline. Those Departments whose proposed budgets exceed the Town's "Proposition 2-1/2 Policy" must be required by the voters of our Town to exercise fiscal responsibility and scrupulously just fy any excess increase. This year, we are fortunate enough to receive a one-time collection of back taxes paid in a lump sum, allowing us the opportunity to replenish our depleted stabilization fund. This stabilization fund is used by the Town for extraordinary or unusual expenditures. Again this year, we must vi orously resist any attempt by any Department of this Town to seek an override to Proposition 2-1/2 to and their Operating Budget. In view of the constraints of living within Proposition 2-112, it is essential to have all money articles put together in one forum — the Spring Town Meeting—so that an accurate picture of expenditures can be had and informed decisions made at one time. Where the Finance Committee takes no position on an Article, it is because the Article has no material impact on the Town's finances.