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f ti Next Finance Committee Meeting <br /> November 7th <br /> Talun af as4prr <br /> P. O. BOX 1108 <br /> 8 E� MASWPEE. MA 02649 - <br /> i <br /> Finance Committee Minutes <br /> i <br /> Town Hall <br /> October 24, 1989 <br /> I <br /> I <br /> j Present: Ed Dolan, Carole Dunivan, John Ferriday, Tony Gallo, Carl Heller, <br /> William Towner and Jim Vaccaro <br /> I <br /> The Finance Committee meeting convened at 7 p.m. Anne Shaw, Treasurer <br /> Tax Collector and Jeff Nutting the acting Executive Secretary joined the <br /> meeting. Anne addressed the Finance Committee about cash flow. She noted <br /> that the Assessors are sending out estimated tax bills sometime in November. <br /> When estimated bills are sent out they are 50% of last's year's bill and <br /> last year the town billed-approximately $9,750,000 izn real estate taxes so <br /> the town can only bill $4,875,000. This year the amount the town is planning <br /> to raise from taxation is $14,172,000 This means that cash:-flow wise the <br /> town is going to be short, approximately 2 million in the Fall. Chairman <br /> Dolan questioned if there was anything that could be done to delay capital <br /> expenditures, so we won't have to go out and borrow so much. Anne noted for <br /> this year it was too late, however there is a real need for some planning <br /> on cash flow. Anne noted that coming • up in December there is $780,000 in <br /> debt tdMirig . due and another $150,000 . coming due in January. There is a <br /> lot of long-term debt coming 'due during the year. Anne noted that she is <br /> going out to borrow the needed money in December rather than in January because <br /> of new SEC regulations. Anne noted that she is going to weekly monitor <br /> the situation, if it is needed the money will be borrowed December 31st. <br /> The new laws involve a lot more work to put together the bonding papers for <br /> money over 1 million dollars. The Treasurer-Tax Collector stressed the <br /> importance of making better use of town money by not paying bills as soon <br /> as they are received. Chairman Dolan thanked Anne Shaw for the information <br /> and asked her to keep the Committee informed. <br /> The Chairman noted that the next order of business was the warrant <br /> for the November 13th Special Town Meeting. The warrant to be considered by <br /> the Finance Committee had been revised and currently has 46 articles. <br /> The Finance Committee voted as follows on the 46 articles. <br /> Article 1 - Carl Heller motioned for approval <br /> William Towner seconded <br /> unanimous vote of approval <br /> Article 2 - Carole Dunivan motioned for approval <br /> William Towner seconded <br /> unanimous vote of approval <br />