| Organization: | Office of the State Auditor |
|---|---|
| Date published: | December 18, 2025 |
Executive Summary
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 certain activities of the Office of the State Treasurer and Receiver General (OST) for the period July 1, 2022 through June 30, 2024.
The purpose of our audit was to determine the following:
- Did OST process unclaimed property claims for intangible property in accordance with Sections 4.04(2), 4.04(3), and 4.04(4) of Title 960 of the Code of Massachusetts Regulations and with the Unclaimed Property Division’s (UCP’s) “Claims Processing Policy”?
- Did OST process veterans’ bonus (VB) claims in accordance with Sections 7.03, 7.04, and 7.07 of Title 960 of the Code of Massachusetts Regulations and with the VB Division’s “Determination of Eligibility Policy” and “Application Review Policy”?
Below is a summary of our finding, the effect of that finding, and our recommendation, with hyperlinks to each page listed.
| Finding 1 | OST’s VB Division did not pay all approved VB claims correctly. |
| Effect | If OST’s VB Division does not ensure that all eligible VB claims are processed correctly, then eligible veterans may experience delays in receiving their payments or may not receive them at all. Such delays could reduce confidence in the Commonwealth’s ability to effectively administer programs established for veterans. |
| Recommendation | OST’s VB Division should implement adequate monitoring controls to ensure that claims voided by the Massachusetts Management Accounting and Reporting System are reviewed for accuracy and reprocessed, if necessary. |
Table of Contents
Downloads
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Open PDF file, 337.76 KB, Audit Report - Office of the State Treasurer and Receiver General (English, PDF 337.76 KB)