To: Higher Education Chief Fiscal Officers, MMARS Liaisons, and Payroll Directors
From: Martin J. Benison, Comptroller
Date: June 20, 2013
Subject: FY2013 Higher Education Audit Guidance
Comptroller Memo FY#2013-29
The purpose of this memo is to advise Institutions of Higher Education as to accounting and reporting guidance for FY2013.
This guide updates the previously issued Higher Education Guidance. 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, Statement No. 39, Determining Whether Certain Organizations Are Component Units, reporting requirements. This guide reinforces policies on required documentation with regard to the Commonwealth’s issuance of its Comprehensive Annual Financial Report (CAFR).
The guide contains the following attachments:
- Instructions for completing the required attachments
- Attachment A: "Independence Letter"
- Attachment B: "Draft Reconciliation of Financial Statements to MMARS"
If you have any questions on the Guide or the attachments, please contact BJ Trivedi, Financial Reporting and Analysis Bureau (FRAB) Director at (617) 973-2663, or Michael Rodino, FRAB Manager at (617) 973-2304.
Higher Education GAAP Liaisons
Higher Education General Counsels
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