Comptroller Fiscal Year Memo Letter Head

To:                  Higher Education Chief Fiscal Officers, MMARS Liaisons, and Payroll Directors

From:              Martin J. Benison, Comptroller

Date:               June 20, 2013

Subject:           FY2013 Higher Education Audit Guidance

Comptroller Memo FY#2013-29

Executive Summary


The purpose of this memo is to advise Institutions of Higher Education as to accounting and reporting guidance for FY2013.

This guide updates the previously issued Higher Education Guidance.  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, 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:

If you have any questions on the Guide or the attachments, please contact BJ Trivedi, Financial Reporting and Analysis Bureau (FRAB) Director at (617) 973-2663, or Michael Rodino, FRAB Manager at (617) 973-2304.

Higher Education GAAP Liaisons
Higher Education General Counsels
Internal Distribution