The Commonwealth Stabilization Fund accounts for amounts calculated in accordance with State Finance Law (Chapter 29, Section 5C of the General Laws) and maintains a reserve to enhance the Commonwealth's fiscal stability. The balance of $1.129 billion as of February 28, 2015 includes the FY2015 inflows and outflows shown in the table below. Inflows include FY2015 interest earnings and withholding tax on Lottery winnings taken as lump sum payments, as well as a $20 million reimbursement from casino licensing fees for gaming startup costs previously paid from the Stabilization Fund, mandated by Chapter 194 of the Acts of 2011. Outflows include a transfer of $140 million to the General Fund authorized by Section 259 of Chapter 165 of the Acts of 2014 (the FY2015 General Appropriation Act) and transfer of FY2015 interest earnings to the General Fund, which is also authorized in the General Appropriation Act.

picture of stabilization fund chart for february 2015

   
Fiscal Year 2015 Activity Amount
($ millions)
   
FY15 Beginning Balance 1,248.4
   
Inflows  
FY15 Year-to-Date Interest Earnings 3.8
FY15 Year-to-Date Withholding Tax on Lottery Winnings Taken as Lump Sum Payments0.4
Reimbursement for Gaming Startup Costs from Casino Licensing Fees 20.0
   
Total FY2015 Inflows 24.2
   
Outflows  
$140 Million Transfer To General Fund Mandated by FY2015 General Appropriation Act-140.0
FY2015 Interest Earnings Transferred to General Fund -3.8
   
Total FY2015 Outflows -143.8
   
FY2015 Net Outflows -119.6
   
Current Stabilization Fund Balance 1,128.8

 

 
 
 

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