Comptroller Fiscal Year Memo Letter Head

June 16, 2010

Timothy Cahill
Treasurer
Office of the Treasurer and Receiver General
State House, Room 227
Boston, MA  02133

RE: Stabilization Transfer and Fund Balance Analysis

Dear Treasurer Cahill:

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 fifth round of interest totaling $1,302,806 in conjunction with the Treasury Department no later than June 18, 2010.

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

Sincerely,

Martin J. Benison
Comptroller

Enc.    Attachment #1:  §125 of Ch. 27 of the Acts of 2009
            Attachment #2:   Stabilization Fund Balance Spreadsheet doc format of stabiliz_ltr_2010_per11.doc

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
     Eric Berman, Deputy Comptroller, CTR
     James MacDonald, Deputy Treasurer, TRE
     Julia Burns, Director of Accounting, CTR
     B J Trivedi, Director of Financial Reporting, CTR


Chapter 27 of the Acts of 2009

AN ACT MAKING APPROPRIATIONS FOR THE FISCAL YEAR 2010 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 125.  Notwithstanding any general or special law to the contrary, the state comptroller shall, not later than June 30, 2010, transfer the interest earned from the Commonwealth Stabilization Fund during fiscal year 2010 to the General Fund.