September 6, 2018

Honorable Joan Lovely, Vice Chair

Senate Committee on Ways and Means

Honorable Jeffrey Sánchez, Chair

House Committee on Ways and Means

The Honorable Michael Heffernan, Secretary

Executive Office for Administration and Finance

The Honorable Maura Healey

Attorney General

Dear Mesdames and Gentlemen:

             As required by Chapter 29 Sec 2TT of the Mass. General Laws, the Office of the Comptroller is submitting this report on the Liability Management & Reduction Fund to the House and Senate Committees on Ways & Means, the Secretary of Administration & Finance, and the Attorney General.

             This report contains the Fund’s financial statement for FY 2017 (see attachment 1) as published on page 99 in the audited Commonwealth Statutory Basis Financial Report (SBFR).  Revenues consist of interest income from investments, categorized as miscellaneous revenue and departmental premiums, derived from each department’s five-year average for tort payments and litigation costs from FY 2012 through FY 2016, (see attachment 2).

             If you have any questions regarding this information, please contact Kathy Sheppard, Deputy Comptroller at 617.973.2666.

Sincerely,

Thomas G. Shack III, Esq.

Comptroller of the Commonwealth

TGS/sp

Enc.

cc:Jennifer Miller, AGO Deputy Chief, Government Bureau

Christopher Marino, Budget Director, Senate Ways and Means Committee

David Bunker, Budget Director, House Ways and Means Committee