Using Free Cash to Cover Up Poor Planning

Inquirer and Mirror Question #3

Are you in favor of using some of the town's $5 million in free cash to balance this year's budget and prevent potential layoffs of town and school employees?

No. This goes against the Town’s approved Free Cash Policy. The approved uses are a) to fund the Stabilization Fund required by the State; b) to fund capital projects; c) to fund extraordinary deficits; d) to provide for critical cash flow and emergencies.

The primary sources of Free Cash are unexpected revenue or expenitures less than budget. Free Cash has to be certified by the State before we can use it.

We need the Free Cash when the unexpected occurs, not to bail out poor planning. We need to better manage the Town’s finances to make sure the year-round residents aren’t forced to leave the Island. First trim all the fat and then examine the benefits of an override. An override is paid 87% from non-residents and only13% by the year-round residents. For every one dollar the residents pay in an override, the non-residents pay $6.70 dollars. Without an override, the town leaders will over-burden our year-round residents with user fees for the necessities of life. These fees proposed by our current Selectmen would cost each year-round resident much more than an override. My goal is to reduce the cost of living for our year-round residents.