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20 <br /> Board of Selectmen <br /> Minutes <br /> September 11, 2017 <br /> Policy 065 —Distribution of Selectmen Meeting A enda Amendment : (continued) <br /> Motion made by Selectman Cotton to approve Policy 065—Distribution of Board Meeting Agenda <br /> as amended. <br /> Motion seconded by Selectman Sherman. <br /> VOTE: 4-1. Motion carries. <br /> Roll Call Vote: <br /> Selectman O'Hara,yes Selectman Cotton,yes Selectman Sherman,yes <br /> Selectman Cahalane,yes Selectman Gottlieb, no Opposed, (1) <br /> Policy 072—Capital Improvement Polices <br /> Policy 072, the Capital Improvement Policy to provide a strategy for the maintenance, replacement, and <br /> construction of the community's major public assets was presented to the Board for adoption. Upon <br /> the annual certification of Undesignated Funds (Free Cash) and at the first Town Meeting following said <br /> certification, the Town will ask the voters to appropriate 15% of those certified funds into the Capital <br /> Stabilization Fund for fixture capital use. <br /> Under the policy, a 2/3rd,S vote is required for this appropriation. After a brief discussion, it was agreed <br /> the policy would be amended to require a majority vote of Town Meeting for this appropriation. <br /> Motion made by Selectman Gottlieb to approve Policy 072— Capital Improvement Policy as <br /> amended. <br /> Motion seconded by Selectman Cahalane. <br /> VOTE: Unanimous. 5-0. <br /> Roll Call Vote: <br /> Selectman O'Hara,yes Selectman Cotton,yes Selectman Sherman, yes <br /> Selectman Cahalane,yes Selectman Gottlieb,yes Opposed, none <br /> Polic 073 —Unappropriated Cash Available Formers "Free Cash" Policy: <br /> Dawn Thayer, the Finance Director was in attendance to review Policy 073 —Unappropriated Cash <br /> Available (Formerly "Free Cash") Policy. This policy would ensure the availability of resources to <br /> stabilize finances and sustain operations during difficult economic periods. The Town of Mashpee will <br /> strive to maintain its annual certified Unappropriated Cash Available in the range of 5-10% of the <br /> annual operating budget. The change in this policy is reflective of the alternative name phrase only. <br /> Motion made by Selectman Gottlieb to approve Policy 073—Unappropriated Cash Available <br /> Policy as presented with the alternative name phrase. <br /> Motion seconded by Selectman Sherman. <br /> VOTE: Unanimous. 5-0. <br /> Roll Call Vote: <br /> Selectman O'Hara,yes Selectman Cotton, yes Selectman Sherman,yes <br /> Selectman Cahalane,yes Selectman Gottlieb,yes Opposed, none <br />