2006-Annual Town Report - Laserfiche WebLink

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Importantly though, it showed that the methodology 1 Report of the and assumptions used to calculate the project tax rate f Finance Committee were essentially correct. Hopefully, the Finance Committee report, including projecting a tax rate, r added to the residents' understanding of the budget To the Honorable Members of the Board of process and issues, so each could make a more informed decision when asked to vote on the budget. 1,4 Selectmen and the Citizens of the Town of Mashpee: g In 2006, Finance Committee was pleased to pre- Not only did the new Charter require the Finance . sent as part of the May Annual Town Meeting Warrant Committee to evaluate the financial warrants before booklet, its second report in compliance with the Town Meeting, but also it required the committee to Mashpee Charter requirement to provide the voters make its recommendation on all Warrants included on with a "concise and readable financial report describ- the Town Meeting agenda. This second requirement ing the revenues and consolidated expenses" as part of was accomplished at the October Special Town the Fiscal Year's municipal operating budget. Meeting at which the FinCom made its written sum- mary and recommendation to the voters on all 34 In addition to a one page summary of the operat- Warrant Articles before them. ing expenses and other back-up explanations and tables, the financial impact of the budget on the resi- The members of the Finance Committee look dents was provided by estimating the resultant proper- forward to improving its efforts for the 2007 Town ty tax rate anticipated to support the proposed budget. Meetings. Based on the budget presented at the May Town Finally, if there are residents who have an inter- Meeting by the Town Manager totaling $43,598,252, est in participating on the Finance Committee, they along with estimates of non-property tax revenues should direct a letter of interest to the Town amounting to $12,198,833, and an assumed 4% Moderator, who makes the appointments to this com- increase in the growth of total property assessments mittee. In addition, questions or comments can be °! from new construction and added assessments, the directed through the Committee's e-mail address: projected tax rate was estimated at $6.39/$1,000 of fincom@ci.maslipee.ma.us. property assessment, or an increase of $0.05/$1,000 from the FY '06 rate. In December, when the actual Respectfully submitted, tax rate was struck by the Tax Assessor, the final rate Chris Avis, Chairman I turned out to be $5.84/$1,000, or a $0.50/$1,000 Chuck Gasior, Vice Chairman decrease from the prior years rate. The $0.50 differ- Lynda Carroll ence between the projected and final tax rate was Bob Hutchinson directly attributable to an 8.95% increase in the Bill Johnson town's total of assessments versus the anticipated 4% Sandra Lindsey increase used to calculate the projected tax rate. Kenneth Patrick gg A f r" 41 a' f: H < i � 4:e•,.} Y� Fes.. y Drawing by Kylie Moses, Grade 5 22