Division of Banks

Fiscal Year 2011 Resource Summary ($000)
DEPARTMENT	FY2011 Budgetary Recommendations	FY2011 Federal, Trust, and ISF	FY2011 Total Spending	FY2011 Budgetary Non-Tax Revenue
Division of Banks	15,871	0	15,871	23,129

account	description	amount
DIVISION OF BANKS		15,870,548
Budgetary Direct Appropriations
Direct Appropriations
7006-0010	Division of Banks For the operation of the division of banks; provided, that notwithstanding any general or special law to the contrary, the division shall assess 100 per cent of the amount appropriated in this item, and the associated fringe benefits costs for personnel paid from this item, upon financial institutions which the division currently regulates under section 2 of chapter 167 of the General Laws	12,870,548

account	description	amount
Retained Revenues
7006-0011	Loan Originator Administration and Consumer Counseling Program Retained Revenue The division of banks may expend for the costs associated with the licensure of loan originators under chapter 255F of the General Laws an amount not to exceed $3,000,000 from the revenue received from administrative fees associated with licensure fees and from civil administrative penalties under chapter 255F; provided, that funds in this item may be expended as competitive grants for the operation of a pilot program for best lending practices, first-time homeowner counseling for non-traditional loans and 10 or more foreclosure education centers under section 16 of chapter 206 of the acts of 2007; and provided further, that notwithstanding any general or special law to the contrary, for the purpose of accommodating timing discrepancies between the receipt of revenues and related expenditures, the department may incur expenses and the comptroller may certify for payment the amounts not to exceed the lower of this authorization or the most recent revenue estimate, as reported in the state accounting system	3,000,000

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