2009-Annual Town Report - Laserfiche WebLink

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more comprehensive projection of 3-5 year revenues and expenses, and a greater cost control emphasis on pension and medical benefit programs. In addition, the committee expressed a major concern with the level of unfunded pension and medical benefit costs. With regard to this, the committee recommended the development of a plan to address this concern for these unfunded liabilities. Based on the approved budget, combined with a further decline in residential and commercial construction and an anticipated 6% decline in overall property assessments, the Committee projected an increase in the municipal tax rate of $0.71 to $7.70/ $1,000 of assessed property value. The final tax rate struck by the Town Assessor in December was $7.79/ $1,000 of sed value as the actual decline in roe assessments was 6.2% from the prior ear's total. asses property rty p y The 2009 year was particularly difficult from the perspective of municipal governance. Declining municipal and state revenues put pressure on the Board of Selectmen and the Town Manager to reduce spending. However, since a high percentage of municipal costs are driven by labor costs, much of which had been previously negotiated, some of which to be negotiated, a number of lay-offs were required and a number of vacant positions remained unfilled to meet the shortfalls and to balance the budget. Despite this, Mashpee's over-all financial health was generally good, at least relative to other area towns. The town's bond rating remained AA+, and the tax collection rate remained above 98%. As the 2009 year came to a close, the Town, the State, and the Nation seemed to have weathered one of the deepest economic recessions experienced in many generations. Thankfully there have been signs of a turn around in the economic outlook for the coming year, albeit a slow recovery, at best. The Finance Committee has already begun working with the Town Manager and staff on the preparation of the FY 2011 budget. Another set of very difficult and unique decisions will face us the administration and the committee over the coming months as the budget is prepared for the May 2010 Town Meeting. Volunteer service to a community is a desirable and essential component of municipal government. If anyone is interested in serving on the Finance Committee, or has questions about serving on the committee,please e-mail me through the town web-site, www.ci.mashpee.ma.us or write to my attention, care of Town Hall. Respectfully submitted, Sandra Lindsey, Chairman Chuck Gasior, Vice Chairman Christopher J. Avis Oskar Klenert, Clerk Bob Hutchinson William P. Johnson George Schmidt 33