Comptroller Fiscal Year Memo Letter Head

April 15, 2010

Timothy Cahill
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

Enc.    Attachment #1:   §125 of Ch. 27 of the Acts of 2009 doc format of Chapter 627
            Attachment #2:   Stabilization Fund Balance Spreadsheet xls format of apr2010 transfer attch2

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