December 30, 2016
Honorable Karen E. Spilka, Chair
Senate Committee on Ways and Means
Honorable Brian S. Dempsey, Chair
House Committee on Ways and Means
The Honorable Kristen Lepore, Secretary
Executive Office for Administration and Finance
The Honorable Maura Healey
Dear Mesdames and Gentleman:
As required by Chapter 29 Sec 2TT of the Mass. General Laws, the Office of the Comptroller is submitting this report on the Liability Management & Reduction Fund to the House and Senate Committees on Ways & Means, the Secretary of Administration & Finance, and the Attorney General.
This report contains the Fund’s financial statement for FY 2016 (see attachment 1) as published on page 104 in the audited Commonwealth Statutory Based Financial Report. Revenues consist of interest income from investments, categorized as miscellaneous revenue and departmental premiums, derived from each department’s five-year average for tort payments and litigation costs from FY 2011 through FY 2015, (see attachment 2).
If you have any questions regarding this information, please contact Kathy Sheppard, Deputy Comptroller at 617.973.2666.
Thomas G. Shack III, Esq.
Comptroller of the Commonwealth
cc: Juliana Rice, AGO Deputy Chief, Government Bureau
Adriana Campos, Budget Director, Senate Ways and Means Committee
Justin Sterritt, Budget Director, House Ways and Means Committee