These reports detail transfers to and from the Commonwealth of Massachusetts Stabilization (“Rainy Day”) Fund, which serves as a reserve account to enhance the Commonwealth’s fiscal stability. The Commonwealth Stabilization Fund (or “rainy day” fund) accounts for amounts calculated in accordance with state finance law and maintains a reserve to enhance the Commonwealth’s fiscal stability. The FY2023 Stabilization Fund balance includes FY2023 interest earned by the Stabilization Fund, excess capital gains taxes above the annual threshold, income tax withholding on certain transfers of Lottery prizes, and 10% of the tax on the gaming profits generated by the Springfield and Everett casinos. There have been no outflows from the Stabilization Fund in FY2023. This report is also posted monthly on the Office of the Comptroller’s transparency website, CTHRU.
The “Rainy Day” Fund had a balance of $7.2 billion as of June 30, 2023.