02/27/1991 FINANCE COMMITTEE Minutes

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NOTABLE DIFFERENCES BETWEEN PRELIMINARY FINCOM RECOMMENDATIONS and RECOMMENDATIONS of the BOARD of SELECTMEN February 27, 1991 I. REVENUE. The FINCOM is projecting revenues of approximately $127,000 less than the Board of Selectmen (BoS) . The BoS projection includes $92,000 which will become available to the Town if State funds for the reconstruction, of Great Oak Road become available and $35,000 from an anticipated increase in the cost for Landfill Permits and Beach Stickers. The FINCOM is awaiting action from the State and from the Mashpee Boards of Health and Selectmen before including either amount. in projected revenues. However, in anticipation of the State funds, the preliminary FINCOM recommen- dation is "out-of balance" by approximately $90,000. If the State funds become available the revenue projections would be increased accordingly and the preliminary budget recommendation would be in balance. If the State funds are not forthcoming, additional reductions will need to be made. II. ITEMS NOT ACCOUNTED FOR IN BOARD of SELECTMEN RECOMMENDATIONS The following budget items are included in the Preliminary FINCOM' Recommenda- tions but not in the BoS recommendations: a. COLAs have been recalculated since the BoS recom- mendation and additional funds are required S 60,723 b. Contingency funds for ATM Articles (excluding Cape Tech, COLAs and Veterans Services) 87,000 NOTES: The combination of the net $35,000 in lower revenues and the $60,723 in item a above, requires that the total Preliminary FINCOM recommendations need to reflect $95,723 reduction from the recommendations of the BoS. When contingency funds for ATM Articles (excluding funds for Cape Tech - assessment, COLAs and Veterans Services) are considered, an additional $87,000 needs to be reduced from the BoS recommendations. The net total reduction from the BoS operating budget recommendation is $182,723 1