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Date received in the Town Clerk's Office <br />Date received in the Selectmen's Office <br />PETITIONERS ARTICLE FOR MASHPEE ANNUAL TOWN MEETING <br />LEAD PETITIONER: Richard Bailey <br />DAY PHONE: 508-2404257 <br />EVENING PHONE: 508-2404257 <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 /># <br />Print Name Legibly <br />Signa <br />Print Street Address <br />r 7% <br />oe <br />o <br />4 <br />5 <br />6, <br />7 <br />8 <br />9 <br />10 <br />�11 tCt� •.. t., ilk; li Ipp 1 <br />