2020-12-00-CPC-rpt (Needs Assessment Report)

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the FY21 state match did not include a 2020 State Budget surplus as anticipated due to COVID- 19, a global pandemic. 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 TOTAL ' : ' 1 The general decrease in state matching funds, until FY21, is 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. This year's distribution was comprised of two months at the old fee rate (November-December 2019) and ten months at the new fee rate (January- October 2020). The first distribution to CPA communities that will include a full year of revenue at the new rate will be October 31, 2021. 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. 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