Comptroller Fiscal Year Memo Letter Head

September 9, 2011

Steven Grossman
Treasurer
Office of the Treasurer and Receiver General
State House, Room 227
Boston, MA  02133

RE: Stabilization Transfer and Fund Balance Analysis

Dear Treasurer Grossman:

Chapter 131 of the Acts of 2010, Section 143 authorizes the transfer of the interest earned from the Commonwealth Stabilization Fund during fiscal year 2011 to the General Fund.  We will process the final transfer for $2,751,396 which includes interest income since March 1st, 2011.  The Transfer will be processed in conjunction with the Treasury Department no later than September 13, 2011.

If you have any questions regarding this, please contact Howard Merkowitz, Deputy Comptroller at (617) 973-2602.

Sincerely,

Martin J. Benison
Comptroller

Enc.  Attachment #1:  §143 of Ch. 131 of the Acts of 2010
         Attachment #2 xls format of fy11_int_transf_attch2.xls
:  Stabilization Fund Balance Spreadsheet

cc: Stephen Brewer, Chairman, Senate Ways and Means Committee
     Brian Dempsey, Chairman, House Ways and Means Committee
     Jay Gonzalez, Secretary, ANF
     Matthew J. Gorzkowicz, Undersecretary, ANF
     James MacDonald, Cash Management, TRE
     Howard Merkowitz, Deputy Comptroller, CTR
     Julia Burns, Director of Accounting, CTR
     B J Trivedi, Director of Financial Reporting, CTR


Attachment #1

Chapter  131

T H E   C O M M O N W E A L T H   O F   M A S S A C H U S E T T S

In the Year Two Thousand and Ten

AN ACT MAKING APPROPRIATIONS FOR THE FISCAL YEAR 2011 FOR THE MAINTENANCE OF THE DEPARTMENTS, BOARDS, COMMISSIONS, INSTITUTIONS AND CERTAIN ACTIVITIES OF THE COMMONWEALTH, FOR INTEREST, SINKING FUND AND SERIAL BOND REQUIREMENTS AND FOR CERTAIN PERMANENT IMPROVEMENTS.

SECTION 143.  Notwithstanding any general or special law to the contrary, the comptroller shall, not later than June 30, 2011, transfer the interest earned from the Commonwealth Stabilization Fund during fiscal year 2011 to the General Fund.