Information for Meeting of Finance Committee
Tuesday October 25, 2022 5:30 PM EDT

11th Annual Town of Chatham Budget Summit
Fiscal Year 2024 (July 1, 2023 – June 30, 2024)
Select Board – Department Heads - Finance Committee – Monomoy Regional School District
October 25, 2022 – 5:30PM – 7:30PM

Strategic Budgeting for the Future

Outcomes
•	Better understanding of the Town’s financial condition
•	Identify emerging problems before they reach serious proportions
•	Identify existing problems requiring correction
•	Present a comprehensive picture of our strengths and challenges
•	Discuss long-range considerations with the annual budget review process

AGENDA
I.	State of the Town  
A.	Overview of FY2023 Budget; Budgeting for a Resilient & Sustainable Future
B.	Year-to-Date Review/Projections; Revenue and Expenditures

II.	Set the Stage for FY2024 Budget Decisions and Beyond - Discussion
A.	Overview/Assumptions
B.	Community Priorities
C.	Diversity/Equity/Inclusion in Municipal Budgeting
D.	Select Board Community Value Statements & Goals and Objective; (Review Scheduled for November 1, 2022)

III.	FY2024 Budget
A.	Budget (Revenue and Expense) Forecasts
B.	Critical Factors:
1.	Priorities/Policy Issues/Directives – Discussion
a.	Funding/Service Priorities – Short-term and Long-term Funding Enhancements/Restrictions
b.	Taxpayer Assistance/Relief Initiatives/Residential Tax Exemptions as it relates to the Budget and Policy
2.	Education Assessments
a.	Monomoy Regional School District Projections and Assessments; Chatham Elementary School
b.	Cape Cod Regional Technical High School
3.	Other Funding/Priorities  -American Rescue Plan Act (ARPA) and Opioid Recovery and Redemption Fund

IV. 	FY2024 – 2028 Capital Improvement Plan/Program/Projects and Investment Strategy 
Potential 2023 Annual Town Meeting Warrant Articles: 
A.	Water Supply/Infrastructure – Capital Plan
B.	Council on Aging Project (borrowing authorization) 
C.	Community Preservation Act Projects, including Affordable Housing Trust (CPC Applications due on November 1, 2022)
D.	Attainable Housing (funded by Free Cash) 
E.	Other Town Funding Priorities/Projects  

V. 	Debt Service Forecasts/Schedules  

VI.	Recommendations and Reports Received – Review
A.	Finance Committee
B.	Summer Residents Advisory Committee (SRAC)  September 30, 2022
C.	S&P Bond Rating – AAA (March 7, 2022); Efforts to Retain Highest Municipal Rating - https://www.chatham-ma.gov/DocumentCenter/View/4258/Standard--Poors-Bond-Rating-2022-PDF?bidId= 
D.	Town Financial Polices Review/Update https://www.chatham-ma.gov/sites/g/files/vyhlif2926/f/uploads/chatham_budget_and_financial_mgmt_policies_updated_october_2019.pdf 

VII.	FY2024 Budget Directive and Budget Review Process/Calendar