05/04/2009 Annual Town Meeting - Laserfiche WebLink

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i 1 i Budget Note 10: Pensions and Unemployment: (+ $96,206) A 5.3% increase in employee pension contributions has been projected for the coming year. School employees are also included in this county administered retirement plan. L. Budget Note 11: Medical Insurance and Medicare: (+ $427,750) A 7.8% increase in employee medical insurance premiums is budgeted for the coming FY, which also includes all school employees. Without a doubt this component of municipal expenses is, and has been, increasing year over year at alarming rates, almost to the point of being confiscatory on municipal finances. FinCom Comment: Note D With the cost of medical insurance premiums representing over 12% of the total operating budget, and the cost of a family medical plan approaching $20,000 a year (75% paid by the town), the Board of Selectmen and Town Manager must continue to be very diligent about the administration of the plan, must explore all possible ways to contain costs and should develop strategies to limit future increases, to the extent possible. s Budget Note 12: Total Appropriations: (+ $480,376) The increase in the FY 10 operating budget which begins on July 1, 2010, represents a 1.0% increase from last year. FinCom Comment: Note E The FY '10 budget of$47,764,103 is the amount the attendees at the Town Meeting will vote a upon. It is listed as Warrant Article #2 in the Town Meeting section of this booklet. Expenses for this budget are increasing by 1.8 % over last year. It is a fair and reasonable budget, given the very difficult times facing all municipalities. THE FINANCE COMMITTEE UNANIMOUSLY RECOMMENDS ADOPTION OF THIS BUDGET. Vote: 6—0. Budget Note 13: Budget Overlay: (- $100,000) While this line item is not voted upon, it is a component in determining the total operating budget for the year. This is basically a "reserve" fund for unpaid taxes or taxes that are returned to property owners as a result of tax appeals. Mashpee's tax collection rate was an excellent 98.2 % in 2008; 97.7% in 2007; and 96.3% in 2006. Budget Note 14: Cape Cod Regional Technical School: (+ $318,886). This line will be voted upon separately as Warrant Article#4. :j Budget Note 15: Capital Improvements: (- $46,385) This line will also be voted upon separately as Warrant Article #3. The list of capital purchases proposed is included as part of Article #3. 1 I A� f' 12