1997-Annual Town Report - Laserfiche WebLink

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We include hereafter our updated Long Range Report of the Financial Plan. Together with our Financial Goals and Finance Committee Objectives,included with the 1996 Annual Report,we believe the Long Range Plan provides the proper roadmap to Mashpee's future. To the Honorable Board of Selectmen and Sincerely, the Citizens of the Town of Mashpee: i J. Alexander Watt, Chairman The Finance Committee's responsibility is to make Nancy Jo Goulart, Vice Chairman recommendations to the town on issues which impact Jim Cleary, Clerk on the town's financial health. Our deliberations Anthony Gallo reflect an overriding concern to live within our means. Daniel Goggin Sidney Golub 1997 continued to present significant challenges to Michael Kumin the town as our school age population continued to increase and our new high school continued to phase in new classes. While general government expendi- tures were kept to moderate increases, significant increases in the school budget required the town to dip into its "rainy day fund", i.e. Stabilization Fund, in an amount of 1.1 million dollars. This use of a non-recur- ring revenue source to fund operational budgets,while offering temporary relief, only serves to exacerbate funding shortfalls in ensuing years. The reason is sim- ple: while operational budgets will continue to grow, ' non-recurring revenues shrink and, ultimately, disap- pear. Thus the gap between expenditures and avail- able recurring revenues grows ever more deep. And with Mashpee already experiencing the second highest tax rate on Cape Cod, we are strongly opposed to a Proposition 2-1/2 override to make up the difference. With all of this in mind,the Finance Committee has developed, and continually updated, a Long Range Plan which we believe is necessary to set those guide- lw S )1 lines and goals for the growth of government which comport with the ability of the taxpayer to fund. No plan can, of course, ever be perfect and must be revis- ited periodically. But if we fail to develop and follow a plan today, tomorrow we will surely fall prey to an ad hoc decision-making process which will sow the seeds for financial disaster. Further, no plan or policy can effect change on its own. It is up to each of us to dedicate ourselves to a careful examination of each and every financial expenditure which comes before Town Meeting. To make that careful examination, though, the taxpayer must be provided with the information necessary to make informed decisions. Toward that end,the voters of the town, at the May 1997 Annual Town Meeting, appropriated funds to the Finance Committee so that Ithe Committee could realize our mandate to provide an analysis of warrant articles, and disseminate that analysis to the voters prior to the town meeting. Our first Warrant Analysis was mailed to the voters in regard to the October 1997 Annual Town Meeting. 10