11/21/1994 FINANCE COMMITTEE Minutes

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/ c,��,—s -� MASHPEE FINANCE COMMITTEE MEETING MINUTES NOVEMBER 21, 1994 MEETING COMMENCED AT 7:00PM Finance Committee Members present: Dan Goggin, Chairman; Marcia King, Vice Chairman; Sid Golub; and Juan Bacigalupi . Tony Gallo, John Ferriday and Denise Sullivan were unable to attend. Please note for the record that the taping of this meeting is for the transcription of the Minutes only. Once the Minutes are approved, the tapes will be reused. Education Reform Act The purpose of this meeting was to review the formula used in the Education Reform Act. The Finance Committee felt that it would be essential that each member have a good understanding of the formula. The worksheet that the Committee reviewed was the FY95 Outreach Program. There are 32 columns listed in this program and Mr. Goggin explained each column. Mr. Goggin explained that the estimated minimum contribution for FY96 would be $7,575,596 plus State Aid of $493 ,624 which would total a net school spending of $8 ,069 ,220. Mr. Goggin felt that this was a comfortable starting point. Ms. King stated that they needed to wait until January to get actual numbers. Mr. Goggin also felt that a good goal for the Finance Committee was to meet the foundation budget by 2001 . Mr. Bacigalupi explained that if the Finance Committee tried to accelerate and reach the goal sooner than 2001, it would bankrupt the Town. Costs that are excluded from the $8,069,220 figure is transportation, capital and retired teachers' Medicaid. Enrollments Mr. Bacigalupi asked the members present to review his growth charts included in his draft of the Finance Committee Town Report. He explained that he thought Tom Fudala's low growth numbers were the more accurate numbers. The high growth numbers were based on total build out of the Town. Mr. Bacigalupi felt in his opinion, that if the Finance Committee only recommended $8 million for the schools and 70% went to teachers' salaries, then it was the children that were being hurt. Mr. Goggin explained that it was not up to the Finance Committee to decide how they should spend their money but how much they have to spend. If the School Superintendent and the School Committee decide to spend the money in avenues that are non productive, it is their decision. The Finance Committee votes the bottom line. However, the Committee can ask questions and make suggestions at the joint meetings which are held periodically between the School Committee and Finance Committee.