Comptroller letterhead

To:                       GAAP Liaisons and Chief Fiscal Officers

From:                  Thomas G. Shack III, Comptroller

Date:                   June 17, 2016

Subject:               FY2016 GAAP Instructions

Comptroller Memo FY#2016-26

Executive Summary

These are the instructions for financial reporting on the basis of Generally Accepted Accounting Principles (GAAP).  The Instructions/GAAP Package provides 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 Friday, August 5, 2016.

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

To facilitate timely preparation of the FY2016 CAFR, certain department reporting dates were revised. The due date for the GAAP Package is Friday, August 5, 2016.

The attachment referenced in this letter can be found at GAAP Instructions doc format of FY16-26 attch
(link to electronic filing forms and instructions).

Please note that PartnerNet is used for GAAP reporting and all CFOs and GAAP Liaisons should 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.

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
Security Officers
Internal Distribution