Comptroller letterhead



To:                         GAAP Liaisons and Chief Fiscal Officers
From:                    Thomas G. Shack III, Comptroller
Date:                      June 26, 2017
Subject:                 FY2017 GAAP Instructions

Comptroller Memo FY#2017-23

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 Monday, August 7, 2017.

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 FY2017 Comprehensive Annual Financial Report (CAFR), certain department reporting dates were revised. The due date for the GAAP Package is Monday, August 7, 2017.

The attachment referenced in this letter can be found at GAAP Instructions doc format of FY17 GAAP Instructions - final.doc

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, however these CFO designated users will need system access.  Department Security Officers can request access for these additional users by submitting a PartnerNet Security request form.

If you have questions on the attachments for GAAP Instructions, exhibits or blanks, please contact Michael Rodino, Director of Financial Reporting at (617) 973-2304 or Cathy Hunter at (617) 973-2660.

Thank you for your cooperation.

cc:           MMARS Liaisons
               Payroll Directors
               General Counsels
               Security Officers
               Internal Distribution