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Date received in the Town Clerk's Office <br />Date received in the Selectmen's Office <br />R <br />3- 57 <br />PETITIONERS ARTICLE FOR MASHPEE ANNUAL 7 SF q C TM E N <br />TOWN OF 1kAASHPEE <br />LEAD PETITIONER: Richard Bailey <br />DAY PHONE: 508-240-4257 <br />EVENING PHONE: 508-240-4257 <br />TOWN BOARD/DEPT AFFECTED BY ARTICLE: School Committee <br />ESTIMATED COST: $450,000 <br />Article: To see if the town will appropriate $450,000 from the stabilization fund to the school <br />committee to offset budget reductions. <br />Explanation: The school committee's budget had a zero percent increase in FY 10, which required <br />the elimination of 21 school positions. A 2% reduction in FY 11 creates a budget gap of $1,600,000 <br />that will require further elimination of school positions and will result in reduced programs for <br />Mashpee students. The town has nearly $5,000,000 in so-called "rainy day" funds, including <br />$1,807,815 in free cash and $3,104,025 in the stabilization fund. In addition, the town expects to earn <br />$2,000,000 in new revenues in FY 11 from the sale of town -owned land. These funds can replace the <br />$450,000 requested by the school committee. <br />all <br />���� <br />_ <br />nl•,�. ►dTn <br />= �� <br />0 <br />_MIN <br />' <br />0� <br />\ For Office Use Only <br />I hereby certify that the above �)� names are those of registered voters in' <br />' Number of names - se numbers and wo <br />The Town of Mashpee. <br />Date�Dku awo Deborah F. Da i, erk <br />titi_ 71,E 1�- 933 01. <br />:t INS l HiA01 <br />