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3 <br /> Finance Committee <br /> Minutes <br /> May 21, 2018 <br /> APPOINTMENTS & HEARINGS <br /> Review& Approval of Reserve Fund Transfers: (continued) <br /> With respect to future requests for Reserve Fund Transfers, it was agreed emergency fund <br /> protocol would be developed whereby the Chairman of the Finance Committee would be notified <br /> in advance regarding a necessary Reserve Fund Transfer, and if it is so warranted, an emergency <br /> meeting would be held to promptly vote on the matter. <br /> In accordance with the mandates of the Department of Revenue the Reserve Fund Transfer this <br /> request cannot be funded through the Snow & Ice Budget. If the Finance Committee does not <br /> approve the Request(s) for Transfer; the shortfall of$32,500 would require the Town to raise the <br /> funding through its FY19 tax rate. The expenditures cannot be funded through Revenue <br /> Available for Appropriation or Free Cash as this authorization is required by a vote of Town <br /> Meeting which has already occurred. To date, there are no anticipated shortfalls in any other <br /> Town Department due to 2018 weather related issues. <br /> DPW: Beach Nourishment at South Cape Beach.-...$22!500: <br /> As a result of extraordinary and unforeseen conditions due to winter storms and astronomical <br /> tides, the sum of$22,500 is requested to be expended from the Reserve Fund for the purpose of <br /> Beach Nourishment at South Cape Beach. <br /> It was explained an artificial dune has been created to protect the parking lot at South Cape <br /> Beach with the condition the Town of Mashpee maintain the dune to protect the parking lot. <br /> Annual nourishment was added in November of 2017. With the unanticipated winter storms <br /> additional nourishment/sand was required to protect the dune/parking lot in February, March, <br /> April and in May. The FY19 budget has been increased for future beach nourishment. <br /> Motion made by Mr. Avis to approve the Reserve Fund Transfer of$22,500 to the DPW <br /> Expense Account as requested. <br /> Motion seconded by Mr. McKelvey. <br /> VOTE: Unanimous. 6-0. <br /> Roll Call Vote: <br /> Mr. Richardson,yes Mr. Pettengill,yes Mr. Avis,yes <br /> Mr. McKelvey,yes Mr. McCahill,yes Mrs. Furbush,yes <br /> Opposed, none <br />