April 15, 2010
Office of the Treasurer and Receiver General
State House, Room 227
Boston, MA 02133
RE: Stabilization Transfer and Fund Balance Analysis
Dear Treasurer Cahill:
The Commonwealth General Fund will be transferring back $50,000,000 to the Stabilization Fund of the original transfer of $199,000,000 processed on August 4, 2009, under Chapter 27 of the Acts of 2009, Section 124. This letter supersedes my letter of March 11th that directed $80 million to be transferred back to the Stabilization Fund. Please complete this transfer by April 20th.
Chapter 27 of the Acts of 2009, Section 125 authorizes the transfer of the interest earned from the Commonwealth Stabilization Fund during fiscal year 2010 to the General Fund. We will process the fourth round of interest totaling $995,857 in conjunction with the Treasury Department no later than April 15, 2010.
If you have any questions regarding this, please contact Eric Berman, Deputy Comptroller, at (617) 973-2602.
Martin J. Benison
cc: Stephen Panagiotakos, Chairman, Senate Ways and Means Committee
Charles A. Murphy, Chairman, House Ways and Means Committee
Jay Gonzalez, Secretary, ANF
Matthew J. Gorzkowicz, Undersecretary, ANF
James MacDonald, TRE
Julia Burns, Director of Accounting
B J Trivedi, Director of Financial Reporting