2011-Annual Town Report - Laserfiche WebLink

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The Charter of the Town of Mashpee adopted in 2004 specifically mandated that the Finance Committee annually perform three specific functions: • Provide the voters with a "concise and readable financial report" describing the revenues and l consolidated expenses as part of the annual Town operating budget. 2k • Calculate a projected municipal tax rate resulting from the adoption of the Town budget. Make recommendations to the voters on each y Goals for 2012 Warrant Article presented at Town Meeting,even y e Complete installation and commission of 1.8 if the Article has no financial impact. y mW solar project at Town landfill To this end the Finance Committee members fully e participated in the budget preparation processes leading • Secure 2nd round funding from Green Community Program for additional energy to the final Fiscal Year 2012 budget presented by the D efficiency projects Town Manager to the Selectmen and Town Meeting at the May 2011 Town Meeting. In its report to the y residents,the Finance Committee recommended Town p Continue to implement efficiency projects using e Cape Light Compact programs Meeting approval of the Town Manager's$48,166,356, which was an increase of 3.3% from the FY 2011 e Achieve use of 85% of Cape Light Compact budget approved at Town Meeting. This increase, in y efficiency funds for residential and commercial large measure, reflected a $300,000 increase to the School Department, an additional $402,375 in debt customers service attributable to the permanent bonding for the Respectfully submitted: construction of the new library,and a$475,565 increase Tom Mayo in the cost of employee health benefits. Catherine Laurent Joyce Mason Based on the approved budget, when combined Mashpee Energy Committee with an anticipated additional 4.0% decline in overall property assessments from the declines in property values in 2010 and 2009, the Committee projected an Report of the increase in the municipal tax rate of$0.46 to $8.83/ $1,000 of assessed property value. However,when the I Finance Committee final tax rate was struck by the Town Assessor in December,because of added revenues applied to offset To the Honorable Board of Selectmen and Citizens the budget increases,along with a moderate amount of of the Town of Mashpee new construction and only a fractional decrease in property values from the prior year, the final tax rate The Finance Committee is a 7 member volunteer for the year came in at$8.51/$1,000 of assessed value, board appointed by the Town Moderator. Its function rather than the $8.83 rate projected by the FinCom in is to become familiar with the workings of the Mashpee May. governmental operations, provide direction and The good news is that Mashpee's over-all oversight to the Selectmen and Town Manager, but Primarily to act in an advisory capacity to the voters on financial health remains generally sound. The town's matters which will come before them for their vote at bond rating stands at AA+, and the tax collection rate Town Meeting. remains above 97%. i 97