2018-Annual Town Report - Laserfiche WebLink

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• Revenue Available for Appropriation Report of the Unappropriated Cash Available (formerly free Finance Committee cash): $1,000,000 • Local non-tax Receipts: $3,130,000 To the Honorable Board of Selectmen and Citizens . Receipts Reserved/Other Special Revenue Funds: of the Town of Mashpee: $1,840,333 The Finance Committee is a 7 member volunteer • Amount to be raised by taxes; Tax Levy: board appointed by the Town Moderator. Its function $45,084,902 is to become familiar with the workings of the • Total Debt Exclusions: $792,887 Mashpee governmental operations, provide indepen- dent input to the Selectmen and Town Manager, but The Finance Committee proposes no increase in primarily to act in an advisory capacity to the voters the municipal tax rate of$9.08 per$1,000 of assessed on matters,which will come before them for their vote property value. at Town Meeting. Those registered voters who attend Town Meeting are, in essence, performing the func- Mashpee was assigned the bond rating of tion of the Legislative branch of our municipal gov- "AAA"by Standard&Poor's. Rationale for this high rating included in their report was a strong economy, ernment. strong management, strong budgetary performance The Charter of the Town of Mashpee adopted in and flexibility, strong reserves and a strong institu- 2004 specifically mandates that the Finance tional framework. Committee annually perform three specific functions: Finally, volunteer service to a community is a • Provide the voters with a "concise and readable desirable and essential component of municipal gov- financial report" describing the revenues and ernment. Any resident of Mashpee that has questions consolidated expenses as part of the annual Town for the Finance Committee,please e-mail the Finance operating budget. Committee at fincom@mashpeema.gov or through the Town web-site at www.mashpeema.gov. Finance • Calculate a projected municipal tax rate resulting Committee meetings are held on Thursday evenings from the adoption of the Town budget. and are generally televised on the local community • Make recommendations to the voters at both the station—Channel 18. May, as well as the October Town Meeting, on Respectfully submitted, each Warrant Article presented at Town Meeting, Michael Richardson,Chairman even if the Article has no financial impact. Jeffrey C.Pettengill, Vice-Chairman The Finance Committee members fully partici- Sylvester Ryan, Clerk pated in the budget preparation processes leading to Christopher J. Avis the final fiscal year 2018 budget presented by the A.Gregory McKelvey Town Manager to the residents at the Town Meeting Philip McCahill held in May 2017. In its report to the residents, the Darlene Furbush Finance Committee recommended Town Meeting approval of the Town Manager's $55,308.393 budget resulting in a decrease of slightly less than 1% over the FY17 final budget. The Committee also recom- mended approval of the Capital Improvement Program budget totaling $812,167. It should be noted the FY 2018 Operating & Capital budgets are funded as follows: • State Aid: $3,460,271 117