Comptroller Fiscal Year Memo Letter Head

April 21, 2011

The Honorable Stephen M. Brewer, Chairman, Senate Ways and Means Committee
The Honorable Brian S. Dempsey, Chairman, House Ways and Means Committee
The Honorable Richard Moore, Senate Co-Chair of the Joint Committee on Health Care Financing
The Honorable Steven M. Walsh, House Co-Chair of the Joint Committee on Health Care Financing
The Honorable Susan C. Fargo, Senate Co-Chair of the Joint Committee on Public Health
The Honorable Jeffrey Sánchez, House Co-Chair of the Joint Committee on Public Health
Michael Esmond, Budget Director, Administration and Finance

Re: Tobacco Funds
In accordance with the requirement in Section 3 c. of Chapter 29D of the Massachusetts General Laws, I hereby certify the receipt of a deposit of Massachusetts’ share pursuant to the master settlement agreement (MSA) resulting from the action known as Commonwealth of Massachusetts v. Phillip Morris, Inc.  This amount is Massachusetts’ share of the funds withheld in connection with the 2005 non-participating manufacturers.

On April 15, 2011, an annual payment of $235,359,030.60 was received and confirmed by Treasury.  On April 19, 2011, an additional $13,382,096.66 was received.  In accordance with section 30 of Chapter 65 of the Acts of 2009, 100% of the receipts are being transferred to the General Fund.  I have also enclosed a spreadsheet showing the base payments projected in the MSA, actual payments received, as well as projected and actual payments to the law firms that represented the Commonwealth in the case.

Total receipts for the fiscal year are as follows: 

DateAmount
April 15, 2011
April 19, 2011
$235,359,030.60
   13,382,096.66
Total Received for FY11 to date$248,741,127.26

 

Sincerely,

Martin J. Benison
Comptroller

Attachment pdf format of    tob_fund_apr_2011_attch.pdf

MB/elh
Cc:   Trustees, Health Care Security Trust
         Jeita Phillips, House Ways and Means
         Douglas Howgate, Senate Ways and Means