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i <br /> r <br /> P. O. BOX 1108 <br /> MASHPEE, MA 02649 <br /> Finance Committee Minutes <br /> Town Hall <br /> November 7, 1989 <br /> Present: Ed Dolan, Carole Dunivan, John Ferriday, Tony Gallo, Carl Heller <br /> William Towner and Jim Vaccaro <br /> The Finance Committee meeting convened at 7 p.m. The Committee Chairman <br /> noted that an emergency financial situation had been disclosed at the <br /> Selectmen's meeting of November 6th. He noted that the potential was serious <br /> but stated that he was unsure how serious. Andrew Gottlieb addressed the <br /> members of the Finance Committee and Department Heads that were present. <br /> The Financial crises as he explained it, is a result of the way the town <br /> handled its reimbursement of the school building loan from the state. <br /> The money should have been deducted from the total levy limit and it was <br /> not. The town as a result levied taxes beyond the 2z limit. Gottlieb <br /> noted that the data is still being worked on and he hoped that it would all <br /> be straightened out in a couple of weeks. When questioned he stated that <br /> the potential impact to the town could be between $800,000 to $1.4 million. <br /> The Chairman of the Finance Committee stated that the Finance Committee <br /> could no longer supports certain articles on the Special Town Meeting Warrant <br /> and that he. was not sure how to handle future expenses. He noted that <br /> some articles would have to be indefinitely postponed. It appears the town <br /> needs to raise $829,000 less next year. The Finance Committee will have to <br /> take a serious look at all capital programs for next year. Selectman <br /> Gottlieb also noted the drop in new growth; the money is going to drop off <br /> because of a growth slowdown. <br /> Member Towner tenured his resignation effective immediately citing <br /> his age and the "futility of facing an impossible situation." Mr. Towner <br /> left the Finance Committee as soon as he submitted his resignation to the <br /> Committee Chairman and Selectman Gottlieb. <br /> Member Vaccaro motioned that in view of what the Finance Committee <br /> was facing, he recommended that the Committee reconsider all the articles <br /> on the November 13th, Special Town Meeting Warrant. This motion was <br /> seconded by Tony Gallo and there was unanimous agreement. <br />