2007-Annual Town Report - Laserfiche WebLink

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in the value of single family homes, in particular,con. Report of the pled with the dramatic downturn in construction all Finance Committee occurred between the time the Finance Committee wrote its report for the Spring Town Meeting in April, and December when the Tax Assessor strikes the tax To the Honorable Members of the Board of rate for the year. The state of the economy in the Selectmen and the Citizens of the Town of Mashpee: region and the nation as 2008 begins does not bode well for the FY 2009 budget. In 2007, the Finance Committee was pleased to present as part of the May Annual Town Meeting Not only did the new Charter require the Finance Warrant booklet, in compliance with the Mashpee Committee to evaluate the financial Warrants before Charter requirement to provide the voters with a"con- Town Meeting, but also it required the committee to cise and readable financial report describing the rev- make its recommendation on all Warrants included on enues and consolidated expenses"as part of the Fiscal the Town Meeting agenda. This second requirement Year's municipal operating budget. was accomplished at the October Special Town Meeting at which the Finance Committee made its In addition to a one page summary of the operat- written summary and recommendation to the voters on ing expenses and other back-up explanations and all 27 Warrant Articles before them. tables, the financial impact of the budget on the resi- dents was provided by estimating the resultant prop- The members of the Finance Committee look erty tax rate anticipated to support the proposed bud- forward to improving its efforts for the 2008 Town get. 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 $47,186,137 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 $13,619,570, and an assumed 6.0% Moderator, who makes the appointments to this com- li increase in the growth of total property assessments mittee. from new construction and added assessments, the e was estimated at $6.15/$1,000 of Respectfully submitted, Pro e cted tax rat J property assessment, or an increase of $0.31/$1,000 William P. Johnson, Chairman I from the FY '07 rate. In December, when the actual Chuck Gasior, Vice Chairman tax rate was struck by the Tax Assessor, the final rate Sandra Lindsey, Clerk turned out to be $6.58/$1,000, ora $0.74/ $1,000 Christopher J. Avis increase from the prior year's rate. The $0.43 differ- Lynda Carroll ence between the projected and final tax rate was Bob Hutchinson directly attributable to a 0.87% decrease in the town's Oskar Klenert total of assessments versus the anticipated 6%increase used to calculate the projected tax rate. This decrease � L r .i 22