2023-03-27-CEC-ATM-rpt (corrected)

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CORRECTED CAPITAL EXPENDITURES COMMITTEE REPORT TO 2023 ATM Year in which supplement received Prior -Year's CPA Surcharge Collected State Supplement Percentage 1st Round 2nd Round 3rd Round Total Total Supplement Amount TSA FY2008 Actual $2,556,362 100.0% N/A N/A 100.0% $2,556,362 FY2009 Actual $2,777,882 67.6% 1.8% N/A 69.4% $1,927,708 FY2010 Actual $2,931,678 34.8% 0.9% 0.5% 36.2% $1,060,390 FY2011 (Actual) $3,042,587 27.2% 0.6% 0.4% 28.2% $858,729 FY2012 (Actual) $3,206,117 26.6% 0.6% 0.4% 27.6% $885,463 FY2013 Actual2 $3,344,371 26.8% 0.6% 0.4% 27.8% $929,507 FY2014 Actual $3,572,460 52.2% 1.1% 0.7% 54.1% $1,932,347 FY2015 Actual4 $3,777,676 31.5% 0.7% 0.4% 32.6% $1,230,116 FY2016 (Actual)5 $4,012,883 29.7% 0.6% 0.4% 30.7% $1,229,774 FY2017 (Actual)6 $4,217,305 20.6% 0.4% 0.3% 21.3% $897,243 FY2018 Actual 7 $4,442,893 17.2% 0.4% 0.2% 17.8% $789,905 FY2019 Actual8 $4,659,786 19.0% 0.5% 0.3% 19.8% $922,256 FY2020 Actuals $4,911,223 23.9% 0.6% 0.4% 24.8% $1,219,950 FY2021 (Actual) $5,214,556 28.6% 0.7% 0.4% 29.7% $1,549,955 FY2022 (Actual)10 $5,492,511 39.4% 0.9% 0.6% 45.5% $2,500,261 FY2023 (Actual)" $5,815,118 38.5% 0.9% 1 0.6% 40.0% $2,323,956 Total Actual: $63,975,408 Received to date: 35.7% $22,813,922 FY2024 (Projected )12 $5,950,000 TBD TBD TBD 30.0% $1,785,000 otals including ro'ected: $69,925,408 35.2% $24,598,922 1 The "actuals" are the net amounts as used by the State; the "projected" is the Town's projection for the net collection. 2 The TSA includes $255 to correct an underpayment in FY2012 from an error with Phillipston's surcharge. 3 TSA reflects additional supplement as $25 million added to the State's CPA Trust Fund as State finished FY2013 with a surplus permitting the maximum amount authorized by the State Legislature to go into that Fund. 4 TSA reflects additional supplement as $11.4 million added to the State's CPA Trust Fund as State finished FY2014 with a surplus permitting the maximum amount authorized by the State Legislature to go into that Fund. 5 TSA reflects additional supplement as $10 million added to the State's CPA Trust Fund as State finished FY2015 with a surplus permitting the maximum amount authorized by the State Legislature to go into that Fund. 6 There was no State budget surplus from FY2016 so, while the State Legislature authorized up to a $10 million addition from any surplus, there was no subsequent State infusion into the State's CPA Trust Fund. 7 TSA includes $168 deduction due to an update to FY2017 data after last year's distribution was made. 8 TSA reflects additional supplement as $10 million added to the State's CPA Trust Fund as the State finished FY2018 with a surplus permitting the maximum amount authorized by the State Legislature to go into that Fund. 9 TSA reflects additional supplement as $20 million added to the State's CPA Trust Fund as the State finished FY2019 with a surplus permitting the maximum amount authorized by the State Legislature to go into that Fund. 10 TSA reflects additional supplement as $10 million added to the State's CPA Trust Fund as the State finished FY2021 with a surplus permitting the maximum amount authorized by the State Legislature to go into that Fund. 11 TSA reflects additional supplement as $20 million added to the State's CPA Trust Fund as the State finished FY2022 with a surplus permitting the maximum amount authorized by the State Legislature to go into that Fund. 12 Not included would be any further increase resulting from the State deciding to infuse the State's DPA Trust Fund with additional funding from a prior -year budget surplus, if any The funds available for these State supplements are taken from a surcharge on the transaction fees charged by the State's Registries of Deeds. The FY2020 Massachusetts Budget provided for increases in registry fee surcharges which fund the CPATF. As no further increase in the rates is currently projected, the supplements will vary from year to year with the level of activity at those Registries. For some previous years, the State had allocated additional funds to the CPATF if the State's prior -year's budget ended with a surplus. However, the State's budgets did not always end with a surplus. (See the footnotes to the above table.)