• Comprehensive Annual Financial Reports (CAFR)

    The Comprehensive Annual Financial Report is prepared by the Office of the Comptroller, audited by Independent Certified Public Accountants and published annually in December for the year ended on June 30. CAFRs report activity according to Generally Accepted Accounting Principles (GAAP).
  • Statutory Basis Financial Report (SBFR)

    The Statutory Basis Financial Report is prepared by the Office of the Comptroller, reviewed by Independent Certified Public Accountants and published in October. This report meets state finance law requirements to present fairly the results of fiscal year activity in the Commonwealth's funds, to compute and certify the balance in the Stabilization Fund and to disclose and report certain aspects of financial performance as directed by statute.
  • Single Audits

    The Single Audit report contains findings on compliance, reportable conditions, and internal control structure from the audit of the Commonwealth of Massachusetts. These reports are in accordance with The Single Audit Act (Circular No. A-133 - Revised June 24, 1997) Audits of States, Local Governments, and Non-Profit Organizations.
  • Commonwealth Actuarial Valuations

    The Office of the Comptroller engages Independent Actuaries to estimate liabilities for Commonwealth Self-insured Workers Compensation liability and the liability for postemployment benefits for retiree health care, group life insurance and dental/vision benefits also known as OPEB. The Commonwealth’s annual actuarial valuations for pension benefits are issued by the Public Employee Retirement Administration Commission (PERAC) and posted on PERAC’s web site.
  • Legislatively Mandated Reports

    The Comptroller's Office is required to submit periodic reports to the Legislature. This section contains those reports as they are issued.
  • GAAP Guidance

    Throughout the year the Commonwealth accounts for its financial operations on the statutory basis of accounting, often referred to as the "budgetary basis". The Commonwealth's budget and the Statutory basis financial statements follow the accounting principles defined by Massachusetts' law. For its Comprehensive Annual Financial Report (CAFR), the Commonwealth reports on the basis of generally accepted accounting principles (GAAP) as defined for governments by the Governmental Accounting Standards Board. These instructions assist departments in preparing the GAAP departmental information included in the CAFR.