HomeMy WebLinkAboutCounty Commission Agenda 01-26-2011 - Packet_2014020516535887191Fiscal Year 2012 Fiscal Year 2012 Nantucket County BudgetNantucket County BudgetCounty CommissionersCounty CommissionersJanuary 26, 2011January 26, 2011
2County AgenciesCounty AgenciesCounty AdministrationCounty AdministrationAdministrationAdministrationCorrections Deeds ExciseCorrections Deeds ExciseRegistry of DeedsRegistry of DeedsAdministrationAdministrationDeeds Excise/Special ProjectsDeeds Excise/Special Projects
3County Revenue SourcesCounty Revenue SourcesTown AssessmentTown AssessmentDeeds Excise RevenueDeeds Excise RevenueRecording FeesRecording FeesCape & Islands License Plate Sales Cape & Islands License Plate Sales (restricted fund)(restricted fund)
4County Revenue Sources County Revenue Sources Deeds Excise FundDeeds Excise Fund4.250%4.250%Registry of Deeds ExciseRegistry of Deeds Excise58.823%58.823%State Portion of Deeds ExciseState Portion of Deeds Excise30.552% 30.552% Up to $250,000; amount in Up to $250,000; amount in excess of $250,000 is turned excess of $250,000 is turned over to State General Fundover to State General FundCorrections Deeds ExciseCorrections Deeds Excise6.375%6.375%County Admin ExciseCounty Admin ExciseFY2012FY2012
5FY 2012 Projected RevenueFY 2012 Projected RevenueTown Assessment: Town Assessment: $ 162,000$ 162,000Deeds Excise Remaining within County*: Deeds Excise Remaining within County*: $ 483,750$ 483,750Corrections Deeds Excise: Corrections Deeds Excise: $ 250,000$ 250,000County Admin: County Admin: $ 140,250$ 140,250Registry of Deeds: Registry of Deeds: $ 93,500$ 93,500Recording Fees: Recording Fees: $ 172,500$ 172,500TOTAL PROJECTED REVENUE**: TOTAL PROJECTED REVENUE**: $ 818,250$ 818,250Other Restricted Funds: Other Restricted Funds: Cape & Islands License Plates: Cape & Islands License Plates: $ 60,000$ 60,000(*Note: Total Deeds Excise of $2,200,000 of which $1,716,250 (*Note: Total Deeds Excise of $2,200,000 of which $1,716,250 or 78.01% is transferred to the State)or 78.01% is transferred to the State)(**Note: Does not include restricted license plate revenue)(**Note: Does not include restricted license plate revenue)
6County Funding Requirement County Funding Requirement ((““maintenance of effortmaintenance of effort””))By law, the County must provide a certain By law, the County must provide a certain amount of NONamount of NON--deeds excise revenue to the deeds excise revenue to the Registry and Corrections Registry and Corrections The amount increases by 2The amount increases by 2½½% per year% per yearFY 2012 county funding requirements:FY 2012 county funding requirements:Registry: $270,338Registry: $270,338Corrections: $149,855Corrections: $149,855
7FY 2012 Projected ExpensesFY 2012 Projected ExpensesCounty Administration:County Administration:$ 225,330$ 225,330No EmployeesNo EmployeesMain Expenses Are LegalMain Expenses Are LegalIncludes Corrections Maintenance of Effort AmountIncludes Corrections Maintenance of Effort AmountRegistry of Deeds:Registry of Deeds:$ 454,412$ 454,4123 Full3 Full--time Employees Plus 1 Vacant Untime Employees Plus 1 Vacant Un--funded Positionfunded PositionAdministrative ExpensesAdministrative ExpensesDeeds Excise/Special ProjectsDeeds Excise/Special ProjectsCorrections Deeds Excise:Corrections Deeds Excise:$ 250,000$ 250,000Debt Service Payment for Public Safety FacilityDebt Service Payment for Public Safety FacilityTOTAL PROJECTED EXPENSES: TOTAL PROJECTED EXPENSES: $ 929,742$ 929,742
8Next StepsNext StepsNantucket County Review Committee (Finance Nantucket County Review Committee (Finance Committee) reviews and/or adopts the budget at Committee) reviews and/or adopts the budget at meeting of February 07, 2011meeting of February 07, 2011Subject to Town Meeting Approval of Article 18Subject to Town Meeting Approval of Article 18