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01/09/2020 FINANCE COMMITTEE Minutes
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01/09/2020 FINANCE COMMITTEE Minutes
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Mashpee_Meeting Documents
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FINANCE COMMITTEE
Meeting Document Type
Minutes
Meeting Date
01/09/2020
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6 <br /> Finance Committee <br /> Minutes <br /> January 9, 2020 <br /> NEW BUSINESS <br /> FY2021 Budget Review& Schedule: <br /> The Finance Committee continued their review of the FY2021 budget, the FY2020 budget and <br /> FY2018 and FY2019 budget actuals as it relates to growth and increases. In FY2019 YOY <br /> growth increased by 3.9%. In FY2020 the increase was 9.9%. The projected FY2021 YOY <br /> growth rate is 3.2%. <br /> The Selectmen's budget in FY19 was $695,440. The 11.9% increase grew by 17.6% in FY2020 <br /> to $817,859. A 1.2% increase is projected in FY2021. It was noted the budget increase is <br /> reflective of surges in the Legal and Engineering Account. <br /> Information Technology is seeing a 19.0% escalation in FY2021. At the budget meeting there <br /> were no discussions regarding offset potentials. It was noted that projects adding to the increase <br /> include cyber security, monitoring services and software. <br /> The School Department is projecting a 3.5% increase in their $22,954,314 budget, most of which <br /> is contractual. The YOY- FY2019 budget increased by 2.1%. In FY2020 there was a 4.3% <br /> expansion in the School budget. <br /> Discussion followed regarding turn-backs estimated at 3.1% in the $60 m. budget. If the <br /> projection subtracted the school (-$22 m.), the turn back estimation would result in a higher <br /> percentage. As noted Town Manager Rodney C. Collins has previously stated his Department <br /> Heads are requested to submit a budget based upon mission critical and operational needs in <br /> order to provide essential services. Expense items are required to be justified and practices to <br /> reduce costs are explored. In past Finance Committee discussions Town Manager Rodney C. <br /> Collins has indicated his employees are not penalized for returning funds. <br /> As the Finance Committee continued their review of the budget medical Insurance was noted to <br /> be one of the largest contributors to free cash flow. In considering costs associated to the <br /> respective medical and insurance line items it was determined this is a logical method of <br /> budgeting, and with unknown expenses, it is easier to budget at a higher rate. This process is <br /> well worth sound planning to strengthen medical projections. <br /> It was noted that 3-year contract negotiations are ongoing and forthcoming for all (9) collective <br /> bargaining units. <br />
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