06/01/2020 BOARD OF SELECTMEN Agenda Packet

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FIIVCOIVI: This article is to appropriate and transfer the funds necessary to pay unpaid hills from the 20.19 Fiscal Year to Motorola Solutions, Inc. in the amount of$1,043.50. The payment will have no impact on the 2020 Fiscal Year Budget. The Finance Committee recommends approval of Article 2 by a mote of 6-0 Article To see if the Town Will vote to appropriate and transfer the sum of$1,439,534 from revenue available for appropriation,to be deposited into the Capital Stabilization Fund, or take any other action relating thereto. Submitted by the Board of Selectmen Explanation: This article will set aside funds into the Capital Stabilization account for future capital expenditures in an effort to ensure the Town will maintain its assets at a level adequate to protect the Yown's capital investment ,and to minimize future: maintenance and replacement costs. The Board of Selectmen recommends approval of Article 3 by a vote of 5-0 FINCOMi': This article is to appropriate and transfer$11439.,534 from revenue available to be deposited into the Capital Stabilization Fund, which helps fundfuture Capital Expenditures which in turn helps protect the Town"s capital investment. The Finance Committee recommends approval of Article 3 by a vote of+6-0 .Article 4 To see if the Town will appropriate and transfer pursuant to the provisions of M.G.L. C. 44B, section 6 to reserve from the Community Preservation Fund Budgeted for Appropriation Reserve, the following amounts: $21,971 1.0% Open pace/Recreation Purposes $21,1971 10% Historic Purposes $21,971 10%Affordable Dousing Purposes or take any other action relating thereto. Submitted by the Community Preservation.Committee Explanation: This is a "clean-up" article to meet the requirement of reserving funds from the supplemental CPA FY 2020 Trust Fund distribution. The amount of FY 2020 state reimbursement received by the Town of Mashpee was $219,710 higher than the initial estimate and due to a surplus in the FY 2019 state budget. We are required to set aside 10% of those excess funds and deposit them into each of the CPA reserve's. Funding shall derive from-the Community Preservation Budgeted for Appropriation Reserve. The Board of Selectmen recommends approval of Article 4 by a vane of 5-0 FINCOM. This article is to appropriate and transfer funds,created by a surplus in the FY2019 State budget resulting in Mashpee receiving an.additional $158,291 in State reimbursements, an amount higher than originally estimated. Mashpee-s CPA funds come from a % surcharge on real estate property taxes plus variable matching funds from the state. 70%.of the CPA funds, with fawn meeting approval, are used at the discretion of the Town. Open Space/Recreation,Affordable Housing and Historic Preservation initiatives are each allotted .10%. This article }`cleans up" the enhanced receipts from the State and assigns $21,971 to each of the three non-discretionary purposes. The Finance Committee recommends approval of Article 4 by a vote of 6-0 8