09/16/1987 FINANCE COMMITTEE Minutes

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• j C�Iourt of Ctzs��F� rq$ a P. o. Box 1108 MASHPEE. MA 02649 FINANCE COMMITTEE MINUTES TOWN HALL September 16 , 1987 The meeting commenced at 7 p . m . Chairman Heller gave a financial update ; There is $356 , 000 in free cash , however , there is a $250, 000 liability due the town from the water district , however , recapturing the funds is not envisioned this fiscal year. The $106 , 000 remaining represents funds granted to the town by the Department of Revenue because the town had three motor vehicle commitments that never arrived on time to collect the money . The Department of Revenue was late so they were mandated to give the town 86% of commitment . The last firefighters proposal came in at $32 , 954 and this should be provided for . There are unpaid bills in the amount of $4 , 570,a_,gr_e,at deal of which is attributed to the school . The Executive Secretary would like to see $25 , 000 put in reserve and have this a year-to-year reserve . Committee members agreed this was not the year to begin such a policy . This leaves $68 , 476or '-$43 , 476-- if the Executive Secretary ' s suggestion -is followed . $356 , 000 - _ 250 , 000 liability water district $106 , 000 represents funds from Dept . of Revenue - 32 , 954 firefighters 4 , 570 unpaid bills $68 , 476 $95 , 543 available in Reserve Fund Carl. Heller voiced the Committee concerns with regard to Town Counsel to the ,Executive Secretary . Murpfiy' confirmed . that_ the action taken !at � town meeting regarding water was illegal . It is illegal for the town to be in the water business . The town is now going to make a water system available to Summerwood , as the contamination was a result of the town landfill , and Summerwood will pay for the hookup . Highwood will supply the water and collect the bills . The costs of the pipes are a town responsibility . Chairman Heller checked on the. ambulance receipts . The money goes to an Ambulance Reserve Fund . The money can only be used to pay for the ambulance . In 1989 a new ambulance will be needed .