2013-Annual Town Report - Laserfiche WebLink

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members, but by majority all votes recommended -+ Report of the approval. The most controversial vote, however, Finance Committee centered around a $478,960 increase in the School Department budget, which the FinCom narrowly approved by a 4 — 3 vote. The FinCom also To the Honorable Board of Selectmen and recommended the Town Manager's Capital Citizens of the Town of Mashpee: Improvement budget of$1,262,256 by a 6— 1 vote. The Finance Committee is a 7 member volunteer Based on the approved budget, when combined board appointed by the Town Moderator. Its function with the FinCom's anticipated increase of 1%in overall is to become familiar with the workings of the Mashpee property assessments from 2012, the FinCom governmental operations, provide independent input projected a resultant increase in the municipal tax rate to the Selectmen and Town Manager, but primarily to of$0.20 to $9.29/$1,000 of assessed property value. act in an advisory capacity to the voters on matters However, when the final tax rate was struck by the which will come before them for their vote at Town Town Assessor in December, despite only a 0.02% Meeting. Those registered voters who attend Town increase in the total of property assessments (rather Meeting are,in essence,performing the function of the than the 1% increase projected by the FinCom in Legislative branch of our municipal government. March),the final tax rate for the year came in at$9.20/ $1,000 of assessed value, rather than the $9.29 rate The Charter of the Town of Mashpee adopted in 2004 specifically mandates that the FinCom annually Projected by the FinCom in May. The difference was a result of a decision by the Governing Body not to tax perform three specific functions: to the allowable levy limit and to apply additional Provide the voters with a "concise and readable available revenues toward the non-property tax financial report" describing the revenues and revenues. consolidated expenses as part of the annual From the FinCom's perspective one of the most Town operating budget. In the report for the positive aspects of the year was an agreement between May 2013 Town Meeting, color graphics were the Governing Body, FinCom and the School included for the first time. Committee to a) discontinue the School Department's it Calculate a projected municipal tax rate resulting practice of using unspent funds at the end of the budget from the adoption of the Town budget. year toward some of the following year's expenses, Make recommendations to the voters at both the rather than following the practice used by all other • May, as well as the October Town Meeting, on departments which turn back unspent funds to the each Warrant Article presented at Town Meeting, General Treasury, and b) that the School Department even if the Article has no financial impact. would enter all aspects of its annual budget into the Town's financial accounting system(MUNIS). These To this end the FinCom members fully two matters had been very divisive issues between the Participated in the budget preparation processes leading school administration and the Town for a number of to the final FY 2014 budget presented by the Town years. Manager to the residents at the Town Meeting held in May 2013. In its report to the residents,the FinCom by The good news is that Mashpee's over-all a 6—1 vote recommended Town Meeting approval of financial health remains quite sound. The town's bond the Town Manager's $52,822,467 budget, which was rating remains at AA+,the second highest rating of the an increase of 4.0%from the FY 2013 final budget.The Cape Cod municipalities, and the tax collection rate increase,in part,was a result of the Town Manager and remains above 96%, which is exceptional given the l Board of Selectmen's recommendation to fill vacancies recent economy. the Police and Fire Departments which had existed for some 5 years, because of the dire economic times Going into the FY 2015 budget preparations, since 2008. In addition,added staff was recommended indications point to an economy beginning to turn for the Library to meet an increased usage of the new around and the housing markets beginning to recover. facility. The recommendation for added departmental And so as this Committee participates in the staffing resulted in split votes among the FinCom preparation of the FY 2015 budget,there are a number 89