2012-Annual Town Report - Laserfiche WebLink

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The Charter of the Town of Mashpee adopted in came before the May Town Meeting, but was most ally ma 2004 specificndated that the Finance Committee pleased to recommend Town Meeting consideration to three specific functions: reinstate up to $336,000 into the school budget at the annually Peic October meeting,because it had been a part of finally • provide the voters with a concise and read- resolving two long standing issues between the BOS, able financial report" describing the revenues Fin-Com and the School Committee. These issues 1 and consolidated expenses as part of the included having the school administration input their l annual Town operating budget. budget into the town's computerized financial accounting system,which is now being done,and sec- f • Calculate a projected municipal tax rate ondly to have the administration discontinue prepay- resulting from the adoption of the Town bud- ing future FY school expenses from unexpended,cur- get. rent year funds.This practice has been discontinued. l Make recommendations to the voters on each l Warrant Article presented at Town Meeting, The good news is that Mashpee's over-all finan- even if the Article has no financial impact. cial health remains quite sound. The town's bond rat- ing stands at AA+, the second highest rating of the To this end the Finance Committee members Cape Cod municipalities, and the tax collection rate fully participated in the budget preparation processes remains above 97%, which is exceptional given the !; I+ leading to the final Fiscal Year 2013 budget presented recent economy. by the Town Manager to the residents at the Town Meeting held in May 2012. In its report to the resi- Going into the FY 2014 budget preparations, indications point to an economy beginning to turn dents, the Finance Committee unanimously recom- mended Town Meeting approval of the Town around and the housing markets beginning to recover. Manager's $50,005,912 budget, which was an And so as this Committee participates in the prepara- increase of 0.2% from the FY 2012 approved budget. tion of the FY 2014 budget,there are a number of near This nominal increase, in large measure, reflected a and longer term public policy issues that the town $185,000 increase to the School Department appropri- administration should address and plan for: ation. • Wastewater treatment, methods of treatment, Based on the approved budget, when combined and the funding of the associated costs. with an anticipated 1.0% increase in overall property . Methods and future costs of household waste assessments from the declines in property values inL collection and disposal. 2011,2010 and 2009,the Fin-Com projected a resul- tant increase in the municipal tax rate of only $0.03 to • Keeping the cost of municipal government in $8.54/$1,000 of assessed property value. However,at line with non-property tax revenues while the May meeting,following the approval of the bud- maintaining a stable property tax rate. get, additional spending warrants were approved . providing sufficient fund balance reserves to totally some $1.1 million and at the October Townoff set losses of non-property tax revenues, Meeting,a warrant was approved reinstating an addi- including increasing the funds in the tax sta- tional$336,000 into the school budget. The net effect bilization fund to at least the statutory mini- was the revised FY 2013 budget totaled $50,806,373. mum of 10% of the annual municipal budget, ' ,r When the final tax rate was struck by the Town or approximately $5,000,000. Assessor in December,because of the added appropri- 'n ationscombined total, newith a 1.3% decrease in the totao ie Volunteer service to a community is a desirable Property assessments(rather than the 1%increase pro- and essential component of municipal government.In n jected by the Fin-Com in March the final tax rate for g P r, )� closing I want to acknowledge two special volunteers the year came in at $9.09/ $1,000 of assessed value, who have left us and two special volunteers who have t rather than the$8.54 rate projected b the Fin-Com in it May, P J y joined us. Robert Chalker,left the Fin-Com with two years It should be noted the Fin-Com did recommend remaining on his second 3 year term. Bobby brought approval of the additional spending articles which youthfulness and an interest in municipal government at 107