126th MAINE LEGISLATURE
		LD 1280		LR 695(01)
	An Act Authorizing the Deorganization of the Town of Bancroft
	Preliminary Fiscal Impact Statement for Original Bill
	Sponsor: Senator Sherman of Aroostook
	Committee: State and Local Government
	Fiscal Note Required: Yes
Preliminary Fiscal Impact Statement
Future biennium cost increase - General Fund Future biennium savings - General Fund
Fiscal Detail and Notes
	This bill will become effective only if approved by the voters of the Town of Bancroft at the next general election to be held in November.  If approved, the deorganization of the Town of Bancroft would take effect on July 1, 2015.  The Division of State Schools - Education in the Unorganized Territories program in the Department of Education will incur future General Fund expenditures to provide services to the Unorganized Territories.  The General Fund would be fully reimbursed for these costs by higher collections made through the Municipal Cost Component program.  The Department of Education expenditures would be ongoing and would be to provide schooling to students from the Town of Bancroft.  The amount can not be determined at this time, but is estimated to be approximately $122,980 annually.
	The deorganization of the Town of Bancroft will result in savings to the General Purpose Aid for Local Schools program within the Department of Education.  The amount of savings can not be determined at this time.  The Town of Bancroft will receive approximately $39,584 in subsidy in fiscal year 2013-14.
	Any additional costs incurred by Maine Revenue Services related to the deorganization of the Town of Bancroft can be absorbed within existing budgeted resources.  The minor additional costs associated with the filing of certain election results can be absorbed by the Secretary of State utilizing existing budgeted resources.