To: Higher Education Chief Fiscal Officers, MMARS Liaisons, and Payroll Directors
From: Martin J. Benison, Comptroller
Date: July 20, 2012
Subject: FY2012 Higher Education Audit Guidance
Comptroller Memo FY#2012-30
This guide updates the existing Higher Education Guidance previously issued in July 2011. It complements the Governmental Accounting Standards Board (GASB) Statement No. 35, Basic Financial Statements and Management’s Discussion and Analysis – for Public Colleges and Universities and Statement No. 39, Determining Whether Certain Organizations Are Component Units reporting requirements. This guide reinforces policies on required documentation with regard to the Commonwealth’s issuance of its Comprehensive Annual Financial Report (CAFR).
The guide contains the following attachments:
- Instructions for completing the required attachment s
- Attachment A “Independence Letter”
- Attachment B “Draft Reconciliation of Financial Statements to MMARS”
If you have any questions on the Guide or the attachments, please contact BJ Trivedi, Director Financial Reporting and Analysis Bureau (FRAB) at (617) 973-2663, Michael Rodino, FRAB Manager at (617) 973-2304 or Neil Gouse at (617) 973-2672.
cc: Higher Education GAAP Liaisons
Higher Education General Counsels