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i� <br /> it <br /> TOWN OF MASHPEE, MASSACHUSETTS <br /> NOTES TO COMBINED FINANCIAL STATEMENTS <br /> JUNE 30, 1982 <br /> I ' <br /> (3) Trust Funds <br /> I <br /> These funds provide an accounting for money <br /> received and held by the Town as trustee for <br /> individuals and governmental accounts. <br /> I <br /> (4) General Long-Term Debt Accounts <br /> These accounts represent the liabilities for long- <br /> term debt and retirement thereof. Under the <br /> provisions of state statutes, the Town is reimbursed I j! <br /> for a portion of the debt service requirements which <br /> was incurred to finance school construction. Such li <br /> reimbursements are included in General Fund revenue. <br /> y <br /> 2. PENSION PLAN <br /> The Town participates in the contributory retirement system <br /> of Barnstable County that is partially funded by employee <br /> contribution. The Town meets its share of the cost on a <br /> pay-as-you-go basis by paying annually to the County system <br /> the amount determined by the State' s Division of Insurance. <br /> Such amount is a legal obligation of the Town and is required <br /> to be included in its annual tax levy. The retirement system <br /> covers substantially all Town employees except school teachers <br /> whose pensions are paid by the Commonwealth of Massachusetts . <br /> The expenditures for the year ended June 30, 1982 were $107,64 <br /> C . <br /> I!I <br /> 3. CONTINGENT LIABILITIES <br /> On December 17 1981, certain claimed members of the Mashpee <br /> Indians commenced suit in the United States District Court <br /> I iJ <br /> for the District of Massachusetts against the Town of Mashpee <br /> and a class of defendants including all land owners in the � <br /> Town. In this case, the plaintiffs claim that certain land Vt <br /> transactions in the Mashpee area in the nineteenth century <br /> violated a federal statute known as the Nonintercourse Act, <br /> 25 U.S.C. 177, and assert other constitutional and statutory �r <br /> claims. As relief, the plaintiffs seek to be declared owner <br /> ee to of all the land within the Tow rofgovernmental dfunctionsnofhthe <br /> J <br /> collection of taxes by and of <br /> Town. The Town has moved to dismiss this action and a hearing I Q <br /> The hearing has <br /> on that motion was held for March 16, 1982. Thr <br /> been continued. - 15 - <br /> RHES E.DiPESA&Co..BOSTON,MASS.(617)423-3555 <br />