05/03/2010 Annual Town Meeting - Laserfiche WebLink

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THE FINANCE COMMITTEE RECOMMENDS TOWN MEETING APPROVAL OF ARTICLE 3. Vote:5-0. ARTICLE 4: Authorize the Transfer of'Funds--Unemployment Compensation Account Submitted by: Board of Selectmen. Approval is requested to transfer $145,729 from unexpended and available funds from the Health Benefits Insurance Account to the Unemployment Compensation Account for an over -expenditure of funds resulting from the termination of employees during the fiscal year for budgetary reasons. Approval of Article 4 will neither have an impact on the FY 11 budget, nor will it affect the final 2010 municipal tax rate. THE FINANCE COMMITTEE RECOMMENDS TOWN MEETING APPRbVAi OF ARTICLE 4. Vote: 5-0. ARTICLE 5: Authorize the Transfer of Funds==Waterways Commission lVlamtenance Account Submitted by: Waterways Commission The Waterways Commission is, in essence, a self-sustaining utility, which derives all its income from the sale of boat moorings. No municipal property tax dollars fund the expenses or projects of the Waterways Commission. In 2009, the commission recommended an increase in the mooring fees charged, which was r, subsequently approved by the Board of Selectmen. The Waterways Commission requests approval for the transfer of $239,070 from the fund balance to the Waterways Maintenance Account for the following purposes: 1). Maintenance dredging of Popponesset Bay Outer Channel and the 1916 Channel; 2). Repair and maintenance of town -owned docks/ramps, and the purchase of navigational aides and equipment, as needed. Approval of Article 5 will neither have an impact on the FY 11 budget, nor will it affect the final 2010 municipal tax rate. E THE FINANCE COMMITTEE WILL MAKE ITS RECOMMENDATION ON ARTICLE 5 AT TOWN MEETING. The Board of Selectmen has placed an Article in this "Special" portion of the Town Meeting seeking approval to appropriate a total of $75,000 in available Community Preservation Act Funds. This is being done in order to fund a project before the start of the FY 11, which begins on July 1. By way of background, prior to 2004, Cape Cod municipalities had the option of participating in a program called the Cape Cod Open Space Land Acquisition Program (a.k.a.. Cape Cod Land Bank) to raise funds locally to purchase lands to be set aside for conservation purposes. Beginning with the FY '05 budget, the State offered an optional program called the Community Preservation Act (CPA) which allows municipalities to collect funds through an annual 3% surcharge on It property assessments, which is then matched by state funds, thereby substantially increasing the amount K; of money available. The program, however, does require specific, limited categories for which the funds can be used. These uses include the acquisition, creation, preservation, rehabilitation and/or restoration of. 1). Open Space; 2). Historic Resources; 3). Recreational Land, and 4). Affordable Housing. In FY 09, Mashpee collected $1,003,283 from the 3% CPA assessment; the state provided a 72.6% match of $714,759, bringing the total funds available under this program to $1,718,042 for the year. In addition to the projects, which must be approved at Town Meeting, a minimum of 10% of the total funds raised must be either appropriated or reserved for future appropriations, in each of the following categories: 1) Open Space (excluding recreational uses), 2) Historic Resources, and 3) Affordable 0