Comptroller Fiscal Year Memo Letter Head

 

To:        Higher Education Chief Fiscal Officers, MMARS Liaisons, and Payroll Directors

From:    Martin J. Benison, Comptroller

Date:     July 20, 2012

Subject: FY2012 Higher Education Audit Guidance

Comptroller Memo FY#2012-30


Executive Summary

The purpose of this memo is to advise Institutions of Higher Education as to auditing and reporting guidance for FY2012.

This guide doc format of 2012 Higher Ed Guide
updates the existing Higher Education Guidance previously issued in July 2011.  It complements the Governmental Accounting Standards Board (GASB) Statement No. 35, Basic Financial Statements and Management’s Discussion and Analysis – for Public Colleges and Universities and Statement No. 39, Determining Whether Certain Organizations Are Component Units reporting requirements.  This guide doc format of 2012 Higher Ed Guide
reinforces policies on required documentation with regard to the Commonwealth’s issuance of its Comprehensive Annual Financial Report (CAFR).

The guide doc format of 2012 Higher Ed Guide
contains the following attachments:

If you have any questions on the Guide or the attachments, please contact BJ Trivedi, Director Financial Reporting and Analysis Bureau (FRAB) at (617) 973-2663, Michael Rodino, FRAB Manager at (617) 973-2304 or Neil Gouse at (617) 973-2672.

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