03/05/1998 SELECT BOARD Minutes - Laserfiche WebLink

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Board of Selectmen Minutes 2 March 5, 1998 E 9 SCHOOL BUDL-E-1- Mr. Whritenour presented a four year analysis of available revenues for additional review. The total recommended budget for fiscal year 1999 is $28,500,776. The figure reflects an increase o€2.6%, and may be completely funded within the limitations of proposition 2 1/2. The discussion of additional State revenues was debated. It was noted that the Governor has proposed to increase Mashpee's Chapter 70 Resolution Aid to $675,851 over the previous year. If the Governor's proposal prevails, approximately $445,000 in additional - revenues will be available to increase educational spending. Mr. Whritenour indicated that the actual appropriation amount has not been determined. It is hopeful that correct figures will be finalized before the end of the fiscal year. It is important to note that this is an election year. The budget has to be approved through the legislative process. Funds cannot be appropriated unless they have been received"in hand"by the Town of Mashpee. If Town Meeting appropriates more than the Town can provide within available revenues, a Town Meeting article will be necessary in October to reduce the overall budget in all Town Departments. It is possible that layoffs will occur as a result. Based on the reduction of the stabilization fund, the funds required for property tax relief must come from available free cash. Currently, the approximate sum of$200,000 remains in free cash. Next years figures will not be available until the October Town Meeting. Without property tax relief, the tax rate will reflect an increase of 13.33% indicated Mr. Whritenour. To reduce property taxes by one half, it is necessary to appropriate over S 1,000,000 in free cash. Selectman Caffyn indicated that it is important for all local officials to gear their efforts toward supporting the Governor's budget proposal. Mr. Whritenour presented a flow chart of net school spending through fiscal years 1994 - 1999. He recommended the Selectmen, School Department and Finance Committee utilize the State funding formula in a fashion appropriate for the Town of Mashpee to determine future net school expenditures. To allow for an adjustment for the number of students,Mr. Whritenour recommended to incorporate the excess debt service into net school spending estimates.