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8 <br /> Finance Committee <br /> Minutes <br /> March 21, 2019 <br /> APPOINTMENTS & HEARINGS <br /> Public Hearing—Fiscal Year 2020 Operating Budget submitted by Town Manager: (continued) <br /> After complimenting his Financial Team Town Manager Rodney C. Collins indicated it is <br /> critical the Town recognizes the balance of needs versus wants, and what is mission critical to <br /> ensure its affordability and sustainability in the long term. The importance of maintaining the <br /> stability of the AAA bond rating was highly regarded. <br /> In considering debt exclusion as it relates to budgetary reductions it was recommended this <br /> action be further explained to the community. When a debt exclusion is supported,there is an <br /> appearance that many may not be realized regarding the impacts to the budget over the long <br /> term. The monies are not relative to the bottom line of an operating budget, but are reflective in <br /> the tax rate for sustainability. <br /> It was agreed that opportunities within the 2020 operating budget have some merit, but there is <br /> concern regarding projects proposed to move forward that would impact the budget. It was <br /> noted the FY20 budget is reflective of 5.5 employees, wastewater initiatives, increased funding <br /> for the Capital Improvement Program, Capital Stabilization funding (policy), and the Cape Cod <br /> Technical School. In the best interest of the Town, it is fiscally responsible to maintain the AAA <br /> bond rating, however, it is the opinion of the Finance Committee to hold back in terms of <br /> expenditures, and further review the explanations for the budgetary increases. <br /> Town Manager Rodney C. Collins agreed it is beneficial to be well informed and to fully <br /> articulate the budget, but it is equally important to ensure the Town of Mashpee maintains its <br /> level of services. Departments should have the ability to staff their needs and be funded for <br /> necessary expenses to function efficiently and effectively in the manner accustomed by the <br /> citizens. Long term decisions that require an override or debt exclusion should be decided upon <br /> by the voters. <br /> The findings of the Finance Committee working group reviewed potential opportunities to <br /> reduce the budget. The process used to review the 2020 budget included; <br /> • Review of Department Salary& Expense actual and budget trends from 2017-2020 <br /> • Review of notes provided in the Finance binders provided by Department Heads <br /> • Summarize and analyze the 2017 &2018 Actuals variance to the budget <br /> • Review of information for unfunded and proposed new positions in FY20 <br /> • Calculate an assessment of any potential opportunity <br /> • Assume there would be no change in Town services YOY <br /> • Assume there would be no reductions in existing Mashpee Town staffing levels <br />