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MASHPEF FINANCE COMMITTEE <br /> MINUTES <br /> TUESDAY, DECEMBER 9, 2003 � <br /> Present Chairman Carlton Meredith, Kathleen Lynch, Scott � <br /> Wellington, James Turner, Gerald Umina <br /> Absent Dean Arden, Freden'ck Blythe <br /> Guest Joyce Mason, Mashpee Town'Administrator <br /> CALL TO ORDER <br /> Chairman Meredith called the meeting to order at 7:00pm in Meeting Room <br /> No. I at Mashpee Town Hall. <br /> ADMIMSTRATION/ANN011fNCEMENTS <br /> Due to the absence of the Board Secretary, minutes of the previous meeting <br /> were not available for approval. <br /> OLD BUSINESS <br /> Sub-committee on Consolidated Financial Report <br /> James Tuner reported that he had just received copies of other town's <br /> consolidated reports and that the subcommittee had not yet had opportunity <br /> to review them. <br /> FY04 revised revenue analysis <br /> Ms Mason briefed the committee on the revised current year revenue j <br /> analysis dated November 1, 2003. Resolution aid from the state has been <br /> reduced by 20% which results in a$1.88m shortfall. The shortfall will be <br /> made-up of funds from the stabilization fund ($750k), certified free cash <br /> ($579k), and available overlay surplus ($550). <br /> NEW BUSINESS <br /> FY05 Estimated Revenues <br /> Ms Mason briefed the committee on projections for FY05 revenues. State <br /> resolution aid isnot expected to increase from current year level. Assuming <br /> the supplemental property tax issue is passed, an estimated $131k will be <br />