2019-12-12-CPC-NEEDS.rpt - Laserfiche WebLink

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or 14.6% of its surcharge, the lowest distribution since Lexington adopted the Community Preservation Act. While higher than the initial estimate of 11.57%, the FY20 state match did not include a 2019 State Budget surplus of$20 million dollars as anticipated. The Division of Local Services processed the 2019 state matched based on the money available in the CPA Trust Fund. If surplus funds are available the DOR will recalculate the state match to include the 2019 State Budget Surplus of$20 million. 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 14.60 $716,858 TOTAL ' The general decrease in state matching funds is due primarily to an increased number of communities passing CPA bylaws therefore competing for limited funds and stagnant recording fees collected at the State's Registries of Deeds. The current transaction fees at the Registries of Deeds have not been adjusted since the CPA was signed into law in 2000. The Governor of Massachusetts, Charlie Baker, signed the Fiscal Year 2020 budget into law on July 31, 2019 which included the permanent increase to the CPA Trust Fund. On December 31, 2019 the increased fees will go 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. Approximately $24 million is collected annually and distributed to the CPA Trust Fund. Once the new fees are fully implemented, it is anticipated that the CPA Trust Fund will increase by an additional $36 million dollars in revenue, totaling $60 million annually to be distributed to CPA communities. The 2020 distribution will be comprised of two months at the old fee rate (November-December 2019) and ten months at the new fee rate (January- October 3