Meeting Notification: Meeting of the Advisory Board to the Comptroller – February 15, 2024 at 3:00pm
The Advisory Board to the Comptroller (the “Board”) will hold a virtual meeting on Thursday, February 15, 2024 at 3:00pm via Zoom. The Board is expected to review a draft of the Statutory Basis Financial Report for Fiscal Year 2023, which is prepared by Office of the Comptroller staff and reviewed by the state’s independent external auditors, CliftonLarsonAllen, LLP (CLA). This is a public meeting subject to the Open Meeting Law.
The formal meeting notification is available at this link.
The Statutory Basis Financial Report (SBFR) meets statutory requirements as set out in M.G.L. c. 7A § 12, to present fairly the results of fiscal year activity in the Commonwealth of Massachusetts funds, to compute and certify the balance in the Commonwealth Stabilization (“Rainy Day”) Fund, and to disclose and report certain aspects of financial performance. The SBFR focuses primarily on the Commonwealth’s budgeted funds.
Following the meeting of the Advisory Board, the Office of the Comptroller will complete the SBFR and file it with the Governor, the Secretary of Administration and Finance, the House and Senate Committees on Ways and Means, the Clerks of the House and Senate. It will also be posted on the Office of the Comptroller’s website at www.macomptroller.org/sbfr.
About the Advisory Board to the Comptroller
The Board was created pursuant to M.G.L. c. 7A, § 2.
The Board meets to provide advice and counsel to the Comptroller in the performance of his duties. The Board shall be responsible for reviewing any rules or regulations promulgated by the Comptroller prior to their implementation. The Board shall also review, prior to publication, the annual financial report of the Commonwealth, published by the Comptroller.
About the Office of the Comptroller
The Office of the Comptroller of the Commonwealth of Massachusetts (CTR) is an independent and apolitical agency charged with overseeing the Commonwealth’s financial systems, preparing the annual financial reporting, and managing the external single audit process. In addition, CTR oversees the Commonwealth’s general ledger, payroll and vendor management, trains state employees on risk mitigation, and operates the Commonwealth’s financial system.
As stewards of the public trust, CTR aspires to inspire confidence by maintaining our core principles: clarity, integrity, and accountability. The powers and obligations of the Office of the Comptroller are generally dictated by M.G.L. c. 7A.
The Comptroller of the Commonwealth is William McNamara, who has served as the 20th Comptroller since February 2020.