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N <br />Mashpee Select Board -Finance Committee <br />Minutes <br />October 12, 2023 <br />Present: Selectman John J. Cotton, Selectman Thomas F. O'Hara, Selectman Carol A. Sherman, <br />Selectman David W. Weeden, Selectman Michaela Wyman -Colombo <br />Town Manager Rodney C. Collins <br />Assistant Town Manager Wayne E. Taylor <br />Meeting Called to Order by Chairman Cotton at 6:31 p.m. <br />Called..to I- <br />Mashpee Town Hall, Waquoit Meeting Room <br />Joint Meeting with the Finance Committee <br />Present: Jeffrey Pettengill, Darlene Furbush, Lee Smith, Greg McKelvey, Jamie Schuh, <br />Glenn Thompson, Richard Weiner <br />Meeting Called to Order by Chairman Pettingill at 6:31 p.m. <br />Mashpee Town Hall, Waquoit Meeting Room <br />NEW BUSINESS <br />Discussion and Possible .Apprqy4l.pf Article I of the October I §,_2923_Armua: <br />Town Meetift.Warrant: <br />Honorable members of the Select Board and Finance Committee met in joint convention for the <br />purpose of r ' eviewing and approving possible funding options for Article #I of the October 16, 2023 <br />Annual Town Meeting warrant. <br />Article #I as drafted would appropriate the sum of $7,500,000 for the planning and design of <br />wastewater collection, treatment and effluent recharge initiatives authorizing the Treasurer to meet <br />this appropriation by borrowing said amount. The appropriation and debt authorization are <br />contingent upon the successful passage of a debt exclusion ballot question. <br />The Select Board and Finance Committee voted unanimously on the wastewater project as <br />identified. Funding for the Phase 11 Wastewater Design/Engineering in the amount of $7,500,000 is <br />anticipated to derive from Revenue Available for Appropriation (formerly known as Free Cash). <br />Town Manager Rodney C. Collins outlined the FY 2024 Certified Free Cash analysis as presented <br />by his Financial Team. <br />The FY 2024 Certified Free Cash is $15,302,463. <br />Assuming there are no additional articles requiring funding at the October Town Meeting it is <br />anticipated the Free Cash would be utilized to fund the Phase 11 Wastewater Design/Engineering; <br />$7,500,000 and Godfrey Road/Barbary Circle Road Engineering; $20,000, <br />