The Commonwealth Stabilization Fund (or "rainy day" 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 $1.255 billion as of October 31, 2015 includes the transfer of $123.5 million on account of the FY15 consolidated net surplus, as reported in the Commonwealth's Statutory Basis Financial Report (SBFR), issued on November 10, 2015. It also includes interest earned by the Stabilization Fund in FY16 and deposits of income tax withholding on Lottery winnings taken as lump sum payments, which are required to be retained and deposited in the Stabilization Fund. There were no FY16 Stabilization Fund outflows through October 31, 2015.

 
Fiscal Year 2016 Activity Amount
($ millions)
   
FY16 Beginning Balance 1,252.4
   
Inflows  
FY16 Year-to-Date Interest Earnings 2.1
FY16 Year-to-Date Withholding Tax on Lottery Winnings Taken as Lump Sum Payments0.2
   
Total FY2015 Inflows 2.2
   
Outflows  
No FY16 Outflows  0.0
   
Total FY2016 Outflows 0.0
   
FY2016 Net Outflows 2.2
   
Current Stabilization Fund Balance 1,254.7