05/04/2009 Annual Town Meeting - Laserfiche WebLink

Home Browse Search

Dear Fellow Residents of Mashpee: This informational packet includes a summary analysis of items that residents will be asked to vote on at the May 4`h Town Meeting. The Finance Committee is a volunteer group of 7 members appointed by the Town Moderator. As outlined in the Town of Mashpee Charter, the Finance Committee serves as advisors by reviewing the financial business of the Town of Mashpee and presenting this before each Town Meeting to outline the impact of the Budget and the articles to provide education and analysis for the residents of Mashpee. The analysis includes the fiscal year 2010 Operating Budget for the Town of Mashpee. You will find a complete b' breakdown and comparison table of the expenses in fiscal year 2009. i i The Warrant Articles include the information presented in each article for vote and a summary done by the Finance Committee to outline the aspects of the each article considered as the vote was taken. j ;Ry This Budget season we have worked with impressive collaboration among the leadership of the Selectmen, Town y Administration, Department Heads, School Administration and School Committee. Under tremendous fiscal pressure and economic uncertainty in our future,the results of the work of all of your Town officials and managers have resulted in a conservative and productive view of the future. l While the operating budget for FY 10 is only increasing by 1.8%, off-setting non-property tax revenues are declining by almost $350,000 from the actual FY 09 revenues. But, more importantly, the Finance Committee is anticipating an additional 6% decline in the total of property assessments,because of the effect the current economy has had on property values and a lack of new construction. You will find that the Mashpee Finance Committee has voted to present you with an outline that reflects the possibility of a tax rate of$7.70/$1,000 of assessed value, or a 10% increase from the current rate of$6.99/ $1,000. After much discussion and analysis, we chose to present you with a scenario that represents an increase that should be no higher than we predict. In other words, we anticipate a. the tax rate will be no higher than that presented in this summary. We ask that you take into account the fact that 1 each individual homeowner's assessment and valuation directly effects the ultimate cost of property taxes, : preventing us from giving exact amounts to meet all expectations. In presenting you this summary we also ask that you consider that there are future expenditures about which the Finance Committee remains very concerned. Studies of the cost of Wastewater Management estimate expenditures that rival any future development and costs for Mashpee residents. We hesitate to venture any estimate of the costs at this point, but like many other towns on Cape Cod, Wastewater Treatment is becoming a critical matter. We anticipate the cost of Wastewater Management to be the single largest investment by the Town of Mashpee since its inception. We will continue to review and educate Mashpee residents on this anticipated expense, and encourage you to research the impact of Wastewater Management as the plans progress. In the Debt Schedule Table presented in this summary, you will find the purchases and growth of the number of Mashpee's Town buildings are reflected. The impact of the Fire Substation and St. Vincent property purchase are reflected in the $400,000 increase in the Debt Schedule. For this reason, the Finance Committee remains conservative in its recommendation for future debts, including voting unanimously in favor of defeat of Article 18, the purchase of the Dacey Properties. The Finance Committee also had a thorough explanation from the Cape Cod Regional Technical High School after F o significantly. In a compromise vote, the Finance Committee, seeing the estimate of Mashpee's share increase s Selectmen and Town Manager agreed to vote on a 10% increase to the expenditures of the Cape Cod Tech share, being mindful that the School Committee of the Cape Cod Tech assessed the increase based on a 20% increase. As you review and reflect on this summary, please be assured that Mashpee is in good financial standing. The Bonding Rating of Mashpee has gone up, and the Tax Rate is being kept within the 2 '/2 threshold. Conservative and progressive management has given us a solid foundation to weather the uncertainty of this economic time. 3 i ;R