Guidelines, Opinions, Advisories and FAQs

The Bulletin discusses recent legislative changes affecting municipal finance found in Chapter 178 of the Acts 2024, entitled An Act Honoring, Empowering and Recognizing Our Servicemembers and Veterans (“HERO” Act). These changes provide two new local options that increase certain veteran exemption amounts and changes how to determine eligibility for the motor vehicle exemption for a veteran with a 100% disability rating or is unemployable due to their service-connected disability.

This Bulletin advises local officials that application for waivers from FY2025 Education Reform Spending Requirements and Minimum Required Local Contributions may be submitted until October 1, 2024. The types of waivers available and qualifying criteria for them are explained in Informational Guideline Release (IGR) No. 16-301, Annual Fiscal Year Waivers to Education Reform Spending Requirements and Minimum Required Local Contributions.

On December 4, 2023, Governor Healey signed Chapter 77 of the Acts of 2023, Section 9 of which provides, in part, for an exception to the general rule that all receipts are to be recorded as general fund revenue per G.L. c. 44, § 53.

This bulletin has information on the following items: budget issues and procedures for fiscal year 2025, recent legislative changes, Coronavirus Relief Fund (CvRF) American Rescue Plan Act (ARPA) stabilization fund dedication revenue estimating revenue local receipts tax rate recap free cash appropriations enterprise fund retained earnings certification balance sheet revenue recognition chapter 90 betterment reserve FEMA borrowing purposes terms borrowing premiums surplus proceeds debt exclusion

On December 4, 2023, Governor Healey signed Chapter 77 of the Acts of 2023, Section 9 of which provides, in part, for an exception to the general rule that all receipts are to be recorded as general fund revenue per G.L. c. 44, § 53.

This Bulletin summarizes Section 205 of Chapter 77 of the Acts of 2023 which authorizes cities and towns to amortize their FY2024 major disaster related deficit over fiscal years 2025 to 2027, inclusive, in equal installments or more rapidly.

This Bulletin focuses on recent regulatory changes affecting municipal finance promulgated by the Cannabis Control Commission pursuant to Chapter 180 of the Acts of 2022, An Act Relative to Equity in the Cannabis Industry.

Major disaster flood three fiscal years amortize amortization deficit Director of Accounts flood flooding special revenue fund mitigation exaction host community agreement general fund revenue opioid settlement funds insurance proceeds appropriation special purpose general stabilization fund

On December 4, 2023, Governor Healey signed Chapter 77 of the Acts of 2023, Section 9 of which provides, in part, for an exception to the general rule that all receipts are to be recorded as general fund revenue per G.L. c. 44, § 53. Pursuant to the new Clause 4 of G.L. c. 44, § 53, the Director of Accounts has determined that cities and towns that have received or will receive funds in Fiscal Year 2024, or thereafter, pursuant to settlement agreements entered into by the Commonwealth with opioi

A reminder to city and town accounting officials of the requirements for the accounting treatment of statewide opioid funds as well as the reporting requirements to document their use in accordance with the State Subdivision Agreement.