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From the Register of Deeds, an informational report regarding a 2011 revenue deficit over $75,000. (INFORMATIONAL UNLESS OTHERWISE DIRECTED BY THE COMMITTEE)
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MILWAUKEE COUNTY
REGISTER OF DEEDS OFFICE
Inter-Office Communication
Date: June 21, 2011
To: Johnny L. Thomas, Chairman of the Finance and Audit Committee
From: John La Fave, Register of Deeds
Subject: Agency 340 - Register of Deeds Revenue Deficit Informational Report
I hereby report that a deficit greater than $75,000 in 2011 will occur in Register of Deeds revenue account 3239 - Recording Fees.
The 2011 budgeted amount for Recording Fees is $2,100,000.
I now project $1, 875,000 will be collected resulting in a shortfall of $225,000.
The quantity of year-to-date recordings (Jan.1 -June 17) is 4.7% less than last year's same period.
I project total recordings for 2011 of 125,000 which is 10.7% below the budgeted 140,000.
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John La Fave
Register of Deeds
Cc: County Executive Chris Abele
Patrick Farley, Director Department of Administration Services
Cynthia Pahl, Acting Fiscal & Budget Administrator
Josh Fudge, Fiscal Management Analyst