2021-Annual Town Report - Laserfiche WebLink

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• Revenue Available for Appropriation Report of the Unappropriated Cash Available(formerly free Finance Committee cash): Operating Budget: $1,929,225 • Local non-tax Receipts: $4,050,000 To the Honorable Board of Selectmen and the • Receipts Reserved/Other Special Revenue Citizens of the Town of Mashpee: Funds: $1,734,332 The Finance Committee is comprised of seven • Amount to be raised by taxes; Tax Levy: volunteer members. All are appointed by the Town $53,012,263 (Plus Debt Exclusions) Moderator. Its function is to become familiar with the 0 Capital Stabilization: $1,726,046 workings of the Mashpee governmental operations,and • Cable Fund(Capital Budget): $80,000.00 provide independent input to the Selectmen and Town Manager, but primarily to act in an advisory capacity • Total Debt Exclusions: $1,508,501 to the voters on matters, which will come before them The Finance Committee projected no change in for their vote at Town Meeting. Those registered voters the municipal tax rate at $8.91 per$1,000 of assessed who attend Town Meeting are, in essence,performing property value from the planned FY2021 tax rate. Due the function of the Legislative branch of our municipal to an increase in property values of approximately 13%, government. the FY 2022 tax rate has been set to $8.03 per$1,000 The Town of Mashpee's Charter,adopted in 2004, of assessed property value. This is a $0.03 decrease specifically mandates that the Finance Committee from the actual FY2021 tax rate of$8.06. annually perform three specific functions: Mashpee was assigned the bond rating of"AAA" • Provide the voters with a "concise and readable by Standard & Poor's. Rationale for this high rating financial report" describing the revenues and included in their report was a strong economy, strong consolidated expenses as part of the annual Town management, strong budgetary performance and operating budget. flexibility, strong reserves and a strong institutional framework. • Calculate a projected municipal tax rate resulting from the adoption of the Town budget. The Finance Committee wishes to welcome two • Make recommendations to the voters at both the new members: Patrick Brady and James Carrier. We May and October Town Meeting on each Warrant look forward to their input and insight in the future. Article presented at Town Meeting, even if the Lastly, volunteer service to a community is a Article has no financial impact. desirable and essential component of municipal The Finance Committee members fully government. Any resident of Mashpee that has participated in the budget preparation processes leading questions for the Finance Committee,please e-mail the to the final fiscal year 2022 budget presented by the Finance Committee at fincom@mashpeema.gov. or Town Manager to the residents at the Town through the Town web-site at www.mashpeema.g_ov. Meeting held in May 2021. Supplemental Finance Committee meetings are generally held on modifications to the FY2022 Operating Budget were Thursday evenings and are usually televised on the made at the October 2021 Town Meeting. local community station—Channel 18. In its reports to the residents, the Finance Respectfully submitted, Committee recommended Town Meeting approval of Jeffrey Pettengill, Chair $63,715,614 for the operating budget. The Committee Gregory McKelvey, Vice-Chair also recommended approval of the Capital Darlene Furbush, Clerk Improvement Program budget totaling $1,806,046. Patrick Brady It should be noted the FY 2022 Operating & James Carrier Capital budgets are funded as follows: John Miller Michael Richardson • State Aid: $3,465,200 107