Finance committee reviews and advances Nantucket county budget for fiscal 2027
February 02, 2026 | Nantucket County, Massachusetts
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The Finance Committee met Jan. 27 and reviewed the proposed Nantucket county budget for fiscal 2027, hearing a detailed presentation from Brian Turbot, the town chief financial officer.
Turbot told the committee the county’s statutory funding requirement (maintenance-of-effort) for the registry of deeds is $250,155 for fiscal 2027. Projected revenue items in the packet included deeds excise tax receipts of $637,500 (allocated in the materials as $382,500 for county administration and $255,000 for the registry of deeds), recording fees of $141,375 and a corrections deeds excise allocation of $250,000 designated to offset debt service on the public safety facility. Investment income was projected at $135,339, producing a total projected county revenue figure of $1,414,369.
On the expense side, Turbot presented proposed allocations including county administration at $437,008 (which includes a 50% allocation for two positions shared with the town) and registry of deeds operating and personnel costs presented at roughly $589,000; the total projected county expenses shown in the packet were $1,329,978.
In response to questions about investment income, Turbot said the town and county invest cash on hand that is not needed for operating expenses in short-term certificates of deposit, short-term treasuries and a small list of legally permitted stocks; those investments are managed through Morgan Stanley. He said roughly $5 million is held between registry and county accounts and that fund balance can be used for special projects — for example, a future renovation of 16 Broad Street — though the committee was told the current proposal does not draw on fund balance.
Committee members moved and seconded approval of the county budget as presented; the committee recorded ayes and advanced the budget to the next steps in the town’s warrant schedule. The committee also confirmed the format and schedule for upcoming departmental budget reviews and set the next review for Thursday at 2 p.m. (hybrid).
Turbot told the committee the county’s statutory funding requirement (maintenance-of-effort) for the registry of deeds is $250,155 for fiscal 2027. Projected revenue items in the packet included deeds excise tax receipts of $637,500 (allocated in the materials as $382,500 for county administration and $255,000 for the registry of deeds), recording fees of $141,375 and a corrections deeds excise allocation of $250,000 designated to offset debt service on the public safety facility. Investment income was projected at $135,339, producing a total projected county revenue figure of $1,414,369.
On the expense side, Turbot presented proposed allocations including county administration at $437,008 (which includes a 50% allocation for two positions shared with the town) and registry of deeds operating and personnel costs presented at roughly $589,000; the total projected county expenses shown in the packet were $1,329,978.
In response to questions about investment income, Turbot said the town and county invest cash on hand that is not needed for operating expenses in short-term certificates of deposit, short-term treasuries and a small list of legally permitted stocks; those investments are managed through Morgan Stanley. He said roughly $5 million is held between registry and county accounts and that fund balance can be used for special projects — for example, a future renovation of 16 Broad Street — though the committee was told the current proposal does not draw on fund balance.
Committee members moved and seconded approval of the county budget as presented; the committee recorded ayes and advanced the budget to the next steps in the town’s warrant schedule. The committee also confirmed the format and schedule for upcoming departmental budget reviews and set the next review for Thursday at 2 p.m. (hybrid).
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