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FINANCE COMMITTEE MINUTES <br /> Mashpee Middle School <br /> December 17, 1990 <br /> Time: 6:30 p.m. <br /> Present: Jim Vaccaro, John Ferriday, Tony Gallo, Deirdre Greelish, Carl Heller, <br /> Vern Polka <br /> -------------------------------------------------------------- <br /> MINUTES <br /> Vern made a motion, and Deirdre seconded it, to accept the minutes of the <br /> November 27 meeting. There was a unanimous vote of approval. <br /> RESERVE TRANSFER TO UNEMPLOYMENT ACCOUNT <br /> Carl made a motion, and Vern seconded it, to transfer the sum of $6,000 from the <br /> Reserve Fund to the Town Treasurer's Unemployment Account. The current balance <br /> in the Unemployment Account is $45,476.70 and additional transfers will be needed <br /> on a monthly basis. There was a unanimous vote of approval. <br /> SOUTH CAPE BEACH ARTICLE <br /> Since the Committee's last meeting, the Town and State representatives have <br /> worked out an agreement whereby the State will create the town beach, for use by <br /> the State and townspeople.' The town would have up to five years to decide if <br /> thoy went to make tAio swap pormaneat. Tbet-e was no reconsideration of the <br /> FinComm's previous stand: the members still support an affirmative vote on the <br /> swap at town meeting tonight. <br /> SUB-COMMITTEE REPORTS <br /> Sub-committees previously formed to investigate changes which may improve the <br /> performance of the government, and save money, postponed their reports till a <br /> future meeting. <br /> UPDATE ON FY92 REVENUE PROJECTIONS <br /> The revenue projection for Fiscal 192 is estimated to be about $18.6 million, <br /> $400,000 over FY'91. Shortages for this year are expected in short-term borrowing, <br /> unemployment, Falmouth tuition and Workmen's Comp., and covering these shortfalls <br /> for next year is expected to absorb the surplus. There is a real possibility of <br /> going into FY'92 in a deficit position. <br /> CARL HELLER APPOINTED TO CAPE VOC FINANCE SUB-COMMITTEE <br /> Carl attended the sub-committee's first meeting and was impressed with the budget. <br /> Next year, Mashpee should see a drop in tuition cost due to a drop in enrollment <br /> at f.he Voc school this year. <br /> ADJOURNMENT <br /> The meeting adjourned at 7:20. <br /> Deirdr reelish <br /> Acting ecretary <br />