5/8/1995 BOARD OF SELECTMEN Minutes

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ip Totun of 111'as;bpee Ii} 16 GREAT NECK ROAD NORTH Z% MASHPEE, MA 02649 TABLY.�o TOWN QF MASHPEE Report of the Capital Improvement Committee April 2S, 1995 The Capital Improvement Committee is established under the bylaws of the Town of Mashpee for the purpose of stud in cr the y P PrP Y capital needs of the Town and malting a multi- year plan and budget for carrying out necessary ca ital projects and acquisitions. # P P 1 q ons. This Committee is comprised of a member and an appointee of both the Board of Selectmen and the Finance Committee, as well as a representative of each department, board or committee having one or more projects within the period encompassed b the -- P y capital plan. Both the Town Accountant and the Executive Secretary serve an advisoryrole as non-votin a members of the committee. Th The comms tree is charged with developing a six-year plan and presenting to Town Meeting the first four years of the plan. After many years of inactivity, a new Capital Improvement Committee was appointed thisyear and has worked diligently to prepare a plan to present to voters at the May 1995 Town Meeting. The Committee started with the Executive Secretary solicitin c a capital project requests from each department, and has for the past several months conducted weep meeting in P . y meetings order to funnel the many capital requests into a realistic multi-year program which meets the needs of this fast growincr Town without negatively impacting the Town's financial position. Ba b g Y P p sed on this work, the Committee is pleased to present at this time the Capital Budget for fiscal year 1996,contained in the Town Meeting warrant, alon cr with the attached Capital tal Pr p Pro for the ensuing three year period. With this the first year of what will become an annual l Q �. p annin� process, several assumptions were made regarding the financial capacity of the Town I . which served to guide the Committee's actions. without having had a coordinated Ian in the past for capital . P P - p improvements to use as guidance, the Committee first sought data re garding what may be expected.for continuing revenues to support capital projects. In this recrard the Committee has relied heavily on the "Long Range Financial Plan for Mashpee presented of S P �p ese ted to the Board Selectmen by the Mashpee Finance Committee,including its excellent analysis of the current long-term g Y g term debt structure of the Town. Incorporating these materials into thelan, the Committee has reached consensus on the P guidelines that a.) current year financing requests will not exceed available funds of the Town; b.} in current and future ears eve attempt will be made to n projects within the Y every p fund P of limits of Proposition 2 112; and c.) The existing debt levels of the Town should be stabilized and maintained so as to avoid convertina, � funds previously spent for capitalital itemsinto operating budgets. The attached chart entled, Town of Nlashpee Debt Service Inside• 2 112 serves to illustrate this latter point. This chart show �$ . • p s a ten-year analysis of debt levels , inside Proposition 2 1/2 for both the status quo and for the implementation of projects 1eco� q P P J ended through-the capital improvement program. I E • f f i s