SURPLUS: There was no action today on a final deficiency
budget, and it's now unclear how much, if any, of the Fiscal 2001 state surplus will be placed in the stabilization fund...
Lawmakers ... continue to be at odds over how to use the last
fiscal year's budget surplus. That particular stalemate could soon create problems for State Comptroller Martin Benison
who must officially close out the fiscal 2001 books and have all state accounts audited and
certified by Oct. 31. That process takes about six weeks so it's important that the House and
Senate agree on how to dispose of the year-end surplus before too long.
Unencumbered surplus dollars automatically move into a tax
relief fund. Legislative leaders hope to reach agreement [next] week on the surplus and, if they don't, theories about just
how long they can delay earmarking it will be tested.
GENERAL LAWS OF MASSACHUSETTS
PART I
ADMINISTRATION OF THE GOVERNMENT
TITLE III
LAWS RELATING TO STATE OFFICERS
CHAPTER 29: STATE FINANCE
Chapter 29: Section 13. Appropriations for ordinary maintenance; outstanding
encumbrances; unexpended appropriations.
Section 13. That portion of an appropriation for ordinary
maintenance representing encumbrances outstanding on the records of the comptroller's office at the close of the fiscal
year may be applied to the payment thereof in the two months immediately succeeding such
fiscal year; provided, however, that the state budget director at the written request of the
spending agency may, prior to the close of said two months, extend for 15 additional days
the recorded encumbrances outstanding and the funds reserved therefor, by furnishing the
comptroller with a copy of such request and the approval thereof.
The unencumbered balance of an appropriation for ordinary
maintenance mentioned in this section shall revert to the commonwealth at the end of each month.
