03/12/2026 FINANCE COMMITTEE Minutes (2)

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FINCOM-Regular Session March 12,2026 Motion passed by unanimous vote. APPOINTMENTS & HEARINGS 4:30 Public Hearing: Pursuant to Section 6-6 of the Charter for the Town of Mashpee, the Finance Committee will conduct a public hearing on the Fiscal Year 2027 Operating Budget for the Town of Mashpee, submitted by the Town Manager. Said hearing will be held on Thursday, March 12, 2026 at 4:30 PM, in the Waquoit Meeting Room at Mashpee Town Hall, 16 Great Neck Road North, Mashpee, MA. Copies of the budget are available in the O?ice of the Town Manager. Greg McKelvey asked about the process for placing an override on the ballot, and it was clariﬁed that only the Select Board can vote to put an override before voters, and it does not need to go to Town Meeting. The question would go directly to a ballot vote requiring a majority. It was noted that the proposed plan includes a 1.5% override in the ﬁrst year and 2.5% in the second year, which could be voted on separately. While consultation with the Finance Committee is typical, the decision ultimately rests with the Select Board. Discussion followed regarding budgeting for upcoming collective bargaining agreements, with the Town Manager noting that current projections account for anticipated increases. Wage growth, including cost-of-living adjustments and step increases, was discussed, with comparisons to other municipalities showing a range of increases depending on position and market conditions. The Town Manager emphasized the importance of remaining competitive to retain sta? and avoid service gaps. The Town Manager and sta? also addressed ﬁnancial planning, including snow and ice removal costs, debt management, and the potential impact of an override on the town’s AAA bond rating. It was noted that failure to pass an override could be viewed negatively in terms of willingness to fund obligations. The town’s ﬁnancial advisor highlighted broader statewide trends, including reduced state aid, constrained revenue under Proposition 2½, and increasing reliance on overrides across municipalities. It was emphasized that funds would only be used as needed. Long-term ﬁnancial planning, including ﬁve-year forecasting and maintaining reserve capacity for emergencies, was also discussed. Additional discussion covered capital planning and debt, including upcoming bond issuances, interest rates, and major projects such as the wastewater system. The town’s 2