Audit  Audit of the Office of the State Treasurer and Receiver General

In accordance with Section 12 of Chapter 11 of the Massachusetts General Laws, the Office of the State Auditor has conducted a performance audit of the Office of the State Treasurer and Receiver General (OST) for the period January 1, 2019 through December 31, 2020. The purpose of our audit was to determine whether OST maintained and updated a list of qualified banks; published and transmitted the list to the Office of the Governor at least every six months as required by Section 34(a) of Chapter 29 of the General Laws; and ensured that state agencies used qualified banks when maintaining bank accounts established under Section 34(a) of Chapter 29 of the General Laws. OST does not keep a record of changes it makes to the tax identification number (TIN) list of all state agency bank accounts. Because no record of changes to the list is maintained, we obtained versions of the TIN list of all state agency bank accounts in use as of June 30, 2019 and June 30, 2020 and adjusted the audit period to June 30, 2019 through June 30, 2020 for our first audit objective. We also sought to determine whether OST submitted a semiannual report to the House and Senate Committees on Ways and Means and the Joint Committee on Revenue in accordance with Section 10B of Chapter 10 of the General Laws. Finally, we reviewed whether OST, consistently with its mission, had procedures in place to monitor whether all sheriffs’ departments transmitted civil process revenue to OST.

Below is a summary of our findings and recommendations, with links to each page listed.

A PDF copy of the Audit of the Office of the State Treasurer and Receiver General is available here.