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MASHPEE FINANCE COMMITTEE MEETING MINUTES <br /> NOVEMBER 28, 1995 <br /> MEETING COMMENCED AT 7:OOPM <br /> Finance Committee members present: Marcia King, Chairman; Sid <br /> Golub; Dan Goggin; Juan Bacigalupi; Tony Gallo and Alec Watt. <br /> Please note for the record that the taping of this meeting is for <br /> the transcription of the Minutes only. Once the Minutes are <br /> approved, the tapes will be reused. <br /> Minutes <br /> The Minutes of November 14, 1995 will be voted on at the next <br /> regularly scheduled meeting on December 12 , 1995. <br /> Free Cash <br /> A letter to the Finance Committee from the Department of Revenue, <br /> certifies that the amount of available Free Cash as of July 1 , 1995 <br /> for the Town of Mashpee is $794,685. <br /> Ms. King mentioned that she had spoken to Mr. Whritenour and <br /> indicated that the whole amount of Free Cash should be placed into <br /> Stabilization. She hoped in the future to return $1 million to <br /> taxpayers, possibly use $500,000 to open the High School and keep <br /> $500,000 in Stabilization. Mr. Goggin felt that it was premature <br /> to discuss where the money would go at this point. <br /> Departmental Requests for Capital Improvement <br /> Ms. King gave out copies of the Departments' requests for FY97. ' <br /> She estimated that departments submitted $1.6 million dollars for <br /> new capital. Ms. King informed the Committee that the board of <br /> Selectmen have decided to discuss their priorities. She asked that <br /> Mr. Golub attend their meeting on Monday night, because he is the <br /> liaison to the Capital Improvement Committee. It was her belief <br /> that they would try to run the CIP. There is approximately less <br /> than $200,000 in the Capital Budget. Mr. Golub felt that review of <br /> the Long Range Plan was needed. It was his suggestion that the <br /> Committee review whether or not the Capital Budget should contain <br /> a larger amount of money and the operational Budget contain less. <br /> Ms. King stated that the Executive Secretary would be meeting with <br /> his department heads. Mr. Golub felt it would be very helpful to <br /> the Finance Committee to choose a member for the Capital <br /> Improvement Committee and also the vacant Finance Committee seat to <br /> help support their capital position. <br /> School Committee Meeting <br /> The Finance Committee will be meeting jointly with the School <br /> Committee on Tuesday, December 12 , 1995 at 7:OOPM in the <br />