3/21/1995 FINANCE COMMITTEE Minutes

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ANPEE FINANCE COMMITTEE MEETING MITES MARCH 21, 1995 14EETING COMMENCED AT :o oP Finance Committee members present: Dan Goggin, Chairman; Marcia King, vice chairman* Juan acigalupi; John Ferriday and Tony Gallo, Denise Sullivan and Sid Golub were unable to attend.. Invited Guests - 7:OOPM' Diaino l ommelmeyer, Town Accountant .00PM PublicHearing Please rote for the record that the taping of this meeting is for the transcription of the Minutes only. once the Minutes are approved, the tapes will be reused Minutes Juan Bacigalupi MOTIONED to approve the Minutes of March 7 , 1995 and March 14 , 1995 as written. John Ferriday seconded the Motion and members approved the Minutes of March 7th by a vote of 5-0. The Committee approved the Minutes of March 14th by a vote of 4-01 Tony Gallo abstaining. Town Accountant''s FY96 Budget Ms. Rommelmeyer gage a brief history of her department, She explained that it is her office that puts together .all of the Town•s financial. records, payrolls, financial reports, year end reports, etc. Mr. Goggin asked about the audit that was just completed, Ms, Rormlmeyer- stated that the Town received a superb audit ending June 30, 1994, other items she is reviewing is fixed assets, accrual of benefits and booking escrow amounts. Ambulance receivables is also an item that is being discussed with the Fire Department. The Town Accountant also mentioned that the Torn has many accounts which her department must monitor, Accounts mentioned were grants, various special revenue, chapter 90 funds, etc. There is presently a little more than one million dollars in Stabilization. This account is very important when it comes to obtaining bond rat.ings. Mashpee has maintained an rating and she is looking for a double A rating to save on interest for• the bond for the high school.. Ms. Rommelmeyer discussed her department's gQ41s and plans for the fiscal year, which were attached to her budget. She explained that her first priority was to compile all information for the DoE to complete financial audits for construction of the Middle school and the Coombs School, She is hoping to complete that by th o end o the month, The Committee asked about her Salary/Wage Account and which employees were contained in this request. Ms, Nommelmeyer answered that the Account contains salaries for herself, the Assistant Town