1995-BOARD OF SELECTMEN - Laserfiche WebLink

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MASHPEE FINANCE COMMITTEE MEETING MINUTES AUGUST 22, 1995 MEETING COMMENCED AT 7:OOPM Finance Committee members present: Marcia King, Chairman; Sid Golub, Vice Chairman; Dan Goggin; Juan Bacigalupi; Alec Watt and Tony Gallo. Denise Sullivan was unable to attend. Please note for the record that the taping of this meeting is for the transcription of the Minutes only. Once the Minutes are approved, the tapes will be reused. Minutes Alec Watt MOTIONED to accept the Minutes of July 14, 1995 as written. Sid Golub seconded the Motion and members approved 3-0. School Ms. King stated that she had spoken to Dr. DeMoura in regard to the high school. Dr. DeMoura was expecting that the costs of opening the high school would be approximately $1.7 million. Ms. King stated that she felt this was too high and that she was expecting it to cost somewhere around $500,000 plus the $450,000 from Falmouth. She also mentioned that the School Committee had been a bit surprised with the Superintendent's numbers. Dr. DeMoura had no intention of releasing these numbers prior to the joint meeting on August 29th, but at Ms. King's request he did. Ms. King gave out copies of the High School Budget Salary Projections and asked the Committee to review. The joint meeting is being held to discuss all questions regarding the schools. Stabilization Account The Chairman, after speaking with the Town Accountant, expected the Stabilization Article to contain the sum of $600,000 to $800,000 . Mr. Goggin believed the Committee should utilize the Stabilization Fund to stabilize taxes, if not in October than in May. He explained that a Motion could be made to transfer money out of the Account to directly offset debt costs. Mr. Goggin also felt that $500,000 was an adequate reserve, although he still believed a good goal was to save 10% of the total expenditures. Ms. King mentioned the possibility of utilizing $500,000 or so to offset the high school's costs. Mr. Goggin disagreed saying that it is very premature to even suggest that Stabilization be used by the school. Mr. Golub agreed that Stabilization is the Court of Last resort. Mr. Goggin informed the Committee that the Stabilization Account has raised in interest as of December of 1994, $18,593.96 and