CPA Trust Fund To Receive $10 Million In Surplus Funding

November 11, 2015: The state of Massachusetts has closed the books on FY15 and there's good news for CPA - the FY2015 budget surplus will be sufficient to transfer $10 million to the CPA Trust Fund. In the report released this week, State Comptroller Thomas G. Shack III, Esq. wrote, 

"...the Commonwealth... completed the fiscal year with a consolidated net surplus of $144 million, sufficient to provide $10 million to the Massachusetts Community Preservation Trust Fund, $10 million to the Massachusetts Life Sciences Investment Fund, and transfer $124 million to the Stabilization (or rainy day) Fund."

To view the Commonwealth's SBFR for FY2015, click here.  (Note: This is a large file and it may load slowly)

The $10 million will be combined with the fees collected on transactions at the state's Registries of Deeds, the traditional source of revenue for the CPA Trust Fund, and the total amount will be distributed to CPA communities by mid-November.

What percentage match will communities receive this year?

The Massachusetts Department of Revenue (DOR) is calculating the match now and will release the Community Preservation Trust Fund distribution amounts for each CPA municipality in the next few days. The Coalition will post a spreadsheet on our website with the final distribution amounts as soon as they are available.