Financial Capital: Falmouth, MA

Financial capital is “financial resources available to invest in community capacity building, to underwrite business development, to support civic and social entrepreneurship, and to accumulate wealth for future community development” (Green & Haines).

Falmouth finance committee is responsible to provide the town meeting with impartial and hair recommendation on the annual Capital and operating budgets.  The committee has conducts 17 meetings  each year.  They also hold meetings with Department Heads to completly study all town meeting, all budget, and meet all the needs of each department.  The committee administers the Reserve fund that is in the Operating Budget each year.  The sim that was voted at the last town meeting was $325,000.  The funds are to address and expenses and emergencies that are not expected when the budget is developed.  It was approved in the amount of $250,039.76.

The committee works with all the Department Heads, town manager, and the finance directory to get any necessary information needed to make recommendations at town meeting and to create the Reserve Fund.  The collectors department are responsible for $100,939,747 of the town receipts. The largest amount comes from Real Estate taxes, which are $85,834,362 and personal property taxes are $1474,677.  The sale of Shellfish permits was a total of $58,805.

 

Resources;

Green, G. P., & Haines, A. (2016). Asset Building & Community Development (4th ed.). Los Angeles, CA: SAGE

Town of Falmouth. (n.d.). Retrieved November 16, 2016, from http://www.falmouthmass.us/selectmen/townreports/2015report.pdf