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<br /> A resident petitioner requests approval for the Board of Selectmen to purchase,on behalf of the
<br /> Conservation Commission, 16 parcels of land totaling 38 acres located between Algonquin Avenue, Old
<br /> �k Barnstable Road and Nathan Ellis Highway, also known as the"Dacey Properties". The cost of this
<br /> <' purchase is $5,619,300. Purchase of these parcels will result in the land being designated as lands for
<br /> conservation and passive recreation uses only.
<br /> Funds for this purchase are proposed to be appropriated from the Conservation Commission Acquisition
<br /> of Land and Maintenance Account, and the land will be held in the care and custody of the Conservation
<br /> Commission. The Article also seeks authorization for the Board of Selectmen and/or the Conservation
<br /> u Commission to apply for and accept for a partial reimbursement for the cost of purchase and the
<br /> incidental expenses related to the purchase of the land under the MA"Self—Help Act"or the Federal
<br /> Land and Water Conservation Fund.
<br /> In addition to the fact that in the Town Attorney's legal opinion, the Article is "unclear and contradictory
<br /> about the potential source of funding for the land acquisition", an application for funding under the
<br /> Community Preservation Committee was denied,because it did not meet the criteria as"Open Space",
<br /> nor would the lands appear to qualify for state conservation funds. Further, at a total purchase price in
<br /> excess of$5.6 million,and an average cost of$148,000 an acre, it is not financially prudent, in the view
<br /> `p of the Finance Committee,to approve this Article,particularly in light of the need to create $5.5 million
<br /> in capital debt now that the construction of the new library is nearing completion.
<br /> THE FINANCE COMMITTEE RECOMMENDS TOWN MEETING DEFEAT OF ARTICLE 19.
<br /> Vote: 5-0.
<br /> ARTICLE 21: Appropriate$450,000 from the Town's Stabilization Fund to Offset School Budget
<br /> Reductions
<br /> Submitted by: Resident Petition
<br /> The School Committee initially submitted an FY 'l I budget for the School Department of$19,869,194,
<br /> but as part of her balanced municipal budget,the Town Manager recommended a budget for the School
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<br /> Department of$18,260,433. While the School committee has accepted this amount, a resident petition
<br /> was filed seeking Town Meeting approval to utilize $450,000 of the town's $3,104,025 Tax Stabilization
<br /> r Funds to partially off-set the difference between the initial and final budgets.
<br /> The Tax Stabilization Fund, sometimes referred to as the"Rainy Day Fund", is a reserve account intended
<br /> to meet the special emergency funding needs of a community. Some examples might be to pay
<br /> extraordinary costs associated with severe flooding,which recently occurred in a number of towns, or a
<br /> ' hurricane,which could require added services or costs. In Mashpee, funds from the Stabilization Fund
<br /> I� have only been taken once in the past 10 years. In 2004, after the municipal budget had been passed at
<br /> ^' I Town Meeting,the State Legislature cut its state aid to schools. In Mashpee this reduction amounted to
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<br /> $1,000,000. In that instance,the Board of Selectmen used$750,000 from the Stabilization Fund to
<br /> support the school budget. In the view of the FinCom it is not appropriate to use Stabilization Funds to
<br /> supplement departmental operating budgets. To approve Article 21 would be a bad precedent, since it
<br /> would, in essence, signal any municipal department experiencing budgetary reductions to file a petition at
<br /> Town Meeting seeking funds from the Tax Stabilization Fund.
<br /> As an aside,what is an appropriate amount to be retained in the Tax Stabilization Fund? State finance
<br /> officials recommend the fund amount be 10% of the annual budget, or in Mashpee's case, approximately
<br /> $4.8 million. Mashpee is currently at$3.1 million, or 6.5%. Because of the recent difficult budget years,
<br /> �a no funds have been added to the Stabilization account, except for the interest earned on the fund balance.
<br /> �.. t The bottom line is that the FinCom opposes this Article for the reasons stated; however, since it is a
<br /> resident petition,the committee is required to do its review, analysis and make its recommendation.
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