02/10/2022 FINANCE COMMITTEE Minutes

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Finance Committee Minutes February 10, 2022 OLD BUSINESS None NEW BUSINESS 1) Town Manager Updates There were no updates other than the budget itself. 2) Town Manager presents his FY2023 Budget Recommendations Town Manager, Rodney Collins stated the proposed recommended FY2023 operating budget has been introduced to the Select Board and now to the Finance Committee. There was a Capital Improvement Program that was unanimously endorsed by the Capital Improvement Program Committee. Mr. Collins' recommendation for the FY2023 operating budget is$66,016,686 which, is a total increase of 3.68%.The operating budget does not include adding any new staffing although,there could be a warrant article that would result in such a proposal. Estimated receipts increased by$120,000 due to an increase in occupancy tax and higher Medicaid reimbursement received. Estimated new growth is projected at 700,000 after consultation with the Director of Assessing. Free cash to be utilized is$1,500,000 which is consistent with previous fiscal years. There are some pending financial considerations: 1. Contract negotiations,all collective bargaining agreements and the personnel administration plan. 2. There are some upcoming expenditures including personnel or contractual costs that need to be forecasted for waste water management so that true and accurate projections are calculated. in terms of waste water management. What are the funds needed and the time frame in which to obtain? 3. There has been a recommendation by the CIP Committee of$3,130,905 for capital expenditures. 4. $376,000 is being recommended from free cash for a Santuit Pond Article for a diagnostic study and implementation of water quality improvements for Mashpee/Wakeby. This figure is expected to increase. 5. HVAC upgrades for the school system and Town Hall are in the pipeline. There are no proposals for the total cost or scope of work at this time. 2