3/5/2020 FINANCE COMMITTEE Minutes

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6 Finance Committee Minutes March 5, 2020 Analysis of Budget and Content of Finance Committee Report: A working group comprised of Finance Committee members Mike Richardson and John Miller were assigned with the task of reviewing the proposed content of the Finance Committee Report with Dawn Thayer the Finance Director and Terrie Cook,the Town Manager/Board of Selectmen's Administrative Assistant. In particular, supplemental graphics and cost assumptions were considered. Four graphic illustrations in color are under review as well as a narrative of the Year over Year (YOY) summary and key budget drivers. It was agreed information regarding the Schools would be included in the budget drivers as well as conservatism with certain budget to budget reductions. Appreciation would be given to those who have assisted in the budget process to bring Mashpee to a very sound financial position. After presenting their findings to the full committee, it was agreed that FY2021 pie chart relative to Budget by Function would include General Government, Education, Public Works and Public Safety inclusive of the Operational Budget. A foot note would include the CPA and Water District tax. Additional charts for the report include the Compound Annual Growth Rate (CAGR) of Spending from 2018-2021, a chart of Revenue Sources, and the Tax Rate with the impact to an average residential tax bill. Graphics from the School Departments are being considered for integration into the report as well. When the graphics and figures are finalized,the information will be forwarded to the printer to obtain a cost estimate to ensure the Finance Committee remains within the realm of its budget. By Charter, it is permissible to email the Finance Committee Report and/or Town Meeting warrant to interested voters. Discussion and Approval of Town Meeting Articles for May 4 2020 Town Meeting: The Finance Committee took the following action on the Annual and Special Town Meeting warrants;