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2/20/2020 FINANCE COMMITTEE Minutes
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2/20/2020 FINANCE COMMITTEE Minutes
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2/28/2020 10:25:19 AM
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Mashpee_Meeting Documents
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FINANCE COMMITTEE
Meeting Document Type
Minutes
Meeting Date
02/20/2020
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17 <br /> Finance Committee <br /> Minutes <br /> February 20, 2020 <br /> APPOINTMENTS & HEARINGS <br /> Review and Action on Fiscal Year 2021 Budget: (continued) <br /> School - $22,778,314: HELD <br /> Motion made by Mr. Pettengill to HOLD the School budget. <br /> Motion seconded by Mr. McCahill. <br /> VOTE: Unanimous. 6-0. <br /> Roll Call Vote: <br /> Mr. Richardson,yes Mr. Pettengill,yes Mr. McKelvey,yes <br /> Mr. McCahill,yes Mrs. Furbush,yes Mr. Miller,yes <br /> Opposed, none <br /> The Finance Committee is scheduled to meet with the School Superintendent on Thursday, <br /> March 5, 2020 to review the School budget. <br /> Analysis of Budget and Content of Finance Committee Report: <br /> The Finance Committee conducted a review and analysis of charts and graphs proposed for the <br /> Finance Committee Report. The figures include budget actuals from FY2018 and FY2019, the <br /> current FY2020 budget and the proposed FY2021 budget. <br /> It was disclosed the numbers are demonstrated as an example and require validation from the <br /> Town Manager and Finance Director. <br /> Preliminary figures reveal the Town of Mashpee spending flow from FY2018 to FY2021 for <br /> both the Town and School has increased from $53,371,075 to $61,027,685. The Compound <br /> Annual Growth Rate on average is 5.1%. <br /> In calculating the tax levy, the tax rate projection for FY2021 is $9.02%. This figure does not <br /> include CPA and Water District taxes. <br /> For comprehension purposes, it was agreed that graphics would be an important aspect of the <br /> Finance Committee Report to visually illustrate the various disbursements of the Town of <br /> Mashpee. Finance Committee member John Miller was charged with reviewing the proposed <br /> changes with the Town Manager and Administrative Secretary and report his findings to the <br /> committee. Changes to the report would include the addition of approximately 6 colored <br /> charts/graphics, black and white renderings and an appendix. Cost projections and the number of <br /> required copies would be determined to conform to budgetary constraints. <br />
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