01/08/1991 FINANCE COMMITTEE Minutes

Home Browse Search

Tg. � �r= P. O. BOX 1106 MASHPEE. MA 02649 FINANCE COMMITTEE MINUTES Town Hall January 8,, 1991 Present: Carole Dunivan, John Ferriday, Tony Gallo, Deirdre Greelish, Carl Heller, Vern Polka.and Jim Vaccaro The Finance Committee meeting was called to order at 7 p.m. The committee deferred approval of the December 17th minute: until the meeting scheduled for January 14th. Members agreed to take a brief recess to read and review correspondence. The Committee proceeded to review and discuss the Draft Report - Summary Report of FY91 Deficits written by Vaccaro. Chairman Vaccaro noted that the town has been plagued with a serious of deficits in FY91 and overspending in FY91 causes a chain reaction in that the town must use surplus funds set aside for FY92. He stated that there is $393,560 in Free Cash and deficits total $425,000. The Selectmen will discuss this issue on Monday night, January 14th. In paragragh 2 of the Summary Report it was noted that six of the eight accounts in deficit involve departments over which the Board of Selectmen do not have direct authority (copy of report attached) . There is an anticipated deficit in the Short-Term Interest Account in the amount of $140,000. The Treasurer borrowed funds to cover operating expenses in anticipation of taxes.' However there were delays in sending out tax bills, and tax collection is at about 78%. The Chairman informed the committee that it had come to• his attention that there is a carton of bills that the post office was unable to deliver because they required address corrections. The Tax Collector does not have the manpower to go through this carton research the addresses and remail them. members suggested that perhaps volunteers could do this job and then put the correct addresses in permanent records. The members of the committee were in agreement with the recommendation as stated on page 1 of the Draft Report. There is an anticipated deficit estimated at $60,000 in the Medical Insurance Account. A net of eleven additional employees began participation in the Town's health insurance program. These employees were not budgeted for. The Draft Report recommendation stated at the top of page 2 represents a simple management practice that would enable the town to go into the YY with an accurate number of people on medical insurance. Chairman Vaccaro further noted that this census of people would serve other needs. Members concurred with the stated recommendation. �• -,