2021-12-00-CPC-rpt (Needs Assessment)

Browse Search

the FY22 state match did not include a 2021 State Budget surplus on November 15'h due to COVID-19, a global pandemic. The CPA Trust Fund still could receive a State Budget surplus fund adjustment similar to January 2020, but it is highly unlikely that this will happen. Record of Lexington's CPA State Matching Funds (Source: Massachusetts Department ofRevenue) CPA STATE MATCHING FUNDS TO DATE FISCAL PERCENTAGE AMOUNT YEAR 2008 100.00 $2,556,362 2009 69.40 $1,927,708 2010 36.17 $1,060,390 2011 28.22 $858,729 2012 27.62 $885,463 2013 27.79 $929,507 2014 54.09 $1,932,347 2015 32.56 $1,230,116 2016 30.70 $1,229,774 2017 21.30 $897,243 2018 17.80 $789,905 2019 19.80 $922,256 2020 24.80 $1,219,950 2021 29.70 $1,549,955 2022 40.90 $2,244,999 TOTAL 1 1 The general decrease in state matching funds, from FY09- FY20, was due primarily to an increased number of communities passing CPA bylaws therefore competing for limited funds. The Governor of Massachusetts, Charlie Baker, signed the Fiscal Year 2020 budget into law on July 31, 2019 which included a permanent increase to the CPA Trust Fund. On December 31, 2019 the increased fees went into effect at the Registry of Deeds. The fee for municipal lien certificates was increased from $10 to $25 and for most other documents the filing fee was increased from $20 to $50. October 31, 2021 was the first distribution to CPA communities that included a full year of revenue at the new rate. $60 million was anticipated to be collected annually and distributed to the CPA Trust Fund once the new fees were fully implemented. 2021 marks the single largest distribution of funds to CPA communities in the history of the program with $79.7 million distributed to 177 CPA communities. With the passage of the legislation permanently increasing the Trust Fund fee revenue, the state is no longer expected to provide surplus funding dollars for CPA. 3