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Bureau projects healthy reserve but PFAC warns fee increases could shrink licensee numbers
Summary
DCA budget analysts projected a 2024–25 reserve of roughly $549,000 and a reversion of about $314,000 from prior year activity. A PFAC advocate urged the bureau to monitor renewals after a recent fee increase to ensure it does not reduce the licensee population.
Department of Consumer Affairs budget analyst Bridal Vu told the Professional Fiduciaries Bureau Advisory Committee on Dec. 11 that the bureau’s 2023–24 beginning balance was a little over $1.1 million and that projected 2024–25 revenues are just over $1.1 million.
Vu said the bureau’s 2023–24 actuals showed roughly $842,000 in receipts (about $141,000 from initial fees, $664,000 from…
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