03/18/2021 FINANCE COMMITTEE Minutes

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4 Finance Committee Minutes March 18, 2021 APPOINTMENTS & HEARINGS Public Hearing—FY2022 Operating Budget: (continued) Town Manager Rodney C. Collins indicated his Finance Team has maintained fiscally conservative practices to ensure sound budgeting. Forthcoming is a 10-Year Financial projection to be updated with FY 2022 budget figures. Being no comment,the Finance Committee motioned as follows; Motion made by Mr. Richardson to close the Public Hearing. Motion seconded by Mr. Brady. VOTE: Unanimous. 7-0. Roll Call Vote: Mr. Pettengill, yes Mr. McKelvey, yes Mrs. Furbush, yes Mr. Richardson, yes Mr.Miller, yes Mr. Brady,yes Mr. Carrier, yes Opposed, none COMMUNICATIONS & CORRESPONDENCE Communication from Board of Selectmen Liaison, if any: None at this time. Communication from School Board Liaison, if any: None at this time. NEW BUSINESS Non-Budget related presentation from Town Manager: None at this time. Town Manager Rodney Collins or other town officials to address GHD quote and questions from Finance Committee members: The Finance Committee received a technical memorandum from GHD, Inc. project engineers for the Phase 1 Wastewater Plan dated March 15, 2021. The memorandum summarized the 75% Design and Engineer's opinion of probable capital costs for the project identified as the Mashpee Water Resource Recovery Facility & Collection System—Stage 1/Area D. The estimate anticipates costs in 2023 dollars comprised of(2) services areas,Area A &Area D. The costs are reflective of Area D only as Area A may be constructed as part of a future project. The project capital cost anticipated in Area D midpoint of construction in 2023 is $54 million. In comparison projected capital costs in 2020 dollars was $51.1 million. Since the files associated to this project are quite large, it was agreed the information in detail would be shared with the Finance Committee electronically.