06/01/2020 FINANCE COMMITTEE Minutes

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Dear Mashpee Residents, Your Finance Committee is comprised OF seven (7) fellow residents, alil Volunteers, who advise Mashpee's residents on all rnatters brought forth at Town Meeting, We are rrianclated by Town Charter to review all articles posed on the Town warrant, and to provide our recommendations to our fellow residents. We are to investigate, interpret, analyze, and thoroughly explain each Article so that the voter has a clear understanding of their vote's impact. As part of the above, we are also required to estimate a projected tax rate. After meeting with Town employees and committees, department heads,the finance team, and town management, we are pleased to report that the fiscal integrity of the Town of Mashpee is strong and in good order. This is attributable to competent managernerit, leadership from the Board of Selectmen, and diligent department heads and town personnel. All their efforts enable Mashpee to have the highest possible bond rating. All articles in the Special Town Meeting (13 articles) and the Annual Meeting (39 articles) warrants contained in this booldet have been thoroughly vetted by the Finance Committee, Each article includes a recommendation and an explanation from Selectmen and the Finance Committee. In our explanations, we attempted to make thern as clear and concise as possibie. We especially call your attention a series of new, hopefully easy-to-understand, charts and graphs that the Finance Committee has provided on the following pages to help you better visualize and understand the Town'sfinoncial activity and status. Most articles on the Special Town Meeting warrant deal with "housekeeping" matters pertaining to the current fiscal year ending June 30, 2020. Of these, we would like to call your attention to the following articles: Article#7 -This concerns Mashpee's CPA contribUtiOnto FORWARD in support of an autism facility which will be added to funding from the State and other Cape towns. Article#10 - This provides funds for an expanded upweller installation at Ockway Bay landing essential to the Town's successful nitrogen management plan. -There are 39 articles on the Annual Town Meeting Warrant, five (5) of which are ones put forth by petitioners. Of these, we would like to call YOUr attention to the following articles: Article#2 -This is the Town's Omnibus Budget request of$60.4 million for the new fiscal year beg-inning July 1,2020 Article#3—This is the Town's Capital Budget. At a little over$2 million, it is 1.5%over last year. Articles #7 through #9: These are the Town's first significant attempt at funding the Town's commitment to create a municipal wastewater management sewer system. 0 Article#7 calls for borrowing up$2.48 million to complete the design of the treatment plant and collection system. If approved, a subsequent Proposition 2% debt exclusion ballot vote will require passage. c, Article #8 creates the Municipal Water Infrastructure Investment Fund and partially funding it via a 2% surcharge on the annual property tax. Article#9 proposes a reduction of the annual Massachusetts Community Preservation Act surcharge from 3%to 2%. Article #23 — This enables the Town of enter into beneficial agreements to install solar photovoltaic energy systems on school property in the town. Based on the proposed budget, we estimate the FY21 total tax rate, including Community Preservation Act&Water District Tax, will increase 6 cents to $9.42 per thousand. YOU are the legislative body of OUR Town's government, and, as a mernber of that body, YOUR voice counts in determining Mashpee's future. Please take the tirne to review the material presented hereafter. If you have any questions, or want additional information, please make sure to present your concerns/questions to the Finance Committee, Board of Selectmen, or Town Manager, Thank you for your thoughtful consideration and your participation in shaping the future Of Our home, Mashpee Finance Committee Michael R. Richardson, Chair Jeffrey C. Pettengill, Vice-Chair A, Gregory McKelvey, Clerk Darlene G. Furbush Philip McCahill John W. Miller