Comptroller Fiscal Year Memo Letter Head

To:            GAAP Liaisons and Chief Fiscal Officers
From:       Martin J. Benison, Comptroller
Date:        June 6, 2012
Subject:    FY2012 GAAP Instructions

Comptroller Memo FY#2012-26

Executive Summary

This is the 26th edition of instructions for financial reporting on Generally Accepted Accounting Principles (GAAP) basis.  The Instructions /GAAP Package provide guidance to departments on reporting year-end activity and obligations to the Comptroller’s Office.  The Comptroller’s Office is responsible for publishing annual financial reports of the Commonwealth.  The due date for submitting the GAAP Package is Monday, August 6, 2012.

It is important that the information about Commonwealth revenues, receivables, expenditures, obligations and assets are reported consistently and uniformly to meet financial reporting requirements.

To facilitate timely preparation of the FY2012 CAFR, certain department reporting dates were revised. The due date for the GAAP Package is Monday, August 6, 2012.

The attachments to this letter can be found at the following link:

GAAP Instructions doc format of FY2012 GAAP Instructions
(link to electronic filing forms and instructions)

Please note that PartnerNet is being used for GAAP reporting this year and all CFOs and GAAP Liaisons have access.  CFOs can designate other department personnel to enter GAAP information on PartnerNet.  Department Security Officers can request access for additional users by submitting a PartnerNet Security Request Form doc format of pn_req_frm.doc
.  Partnernet will be updated around July 9th with information as of July 3rd.

If you have questions on the attachments for GAAP Instructions, exhibits or blanks, please contact BJ Trivedi, Director of Financial Reporting Bureau at (617) 973-2663 or Cathy Hunter at (617) 973-2660.

Thank you for your cooperation.

MMARS Liaisons
Payroll Directors
General Counsels
Internal Distribution