The bill presents the financial report for the Commonwealth of Massachusetts for the fiscal year ending June 30, 2024, detailing significant financial adjustments and allocations. It highlights a budgeted fund balance of approximately $15.004 billion and a consolidated net surplus of $426 million, which has been allocated to the Student Opportunity Act Investment Fund. The report indicates a notable increase in budgeted fund tax revenues, rising by $4.435 billion (13.2%) from the previous fiscal year, primarily due to new tax laws, including a 4% surtax on personal incomes exceeding $1 million. Additionally, the Commonwealth Stabilization Fund increased by $488 million, reaching a total of $8.524 billion, with no funds drawn from it during the fiscal year.

Key insertions in the bill include new legal language regarding the financial reporting and management responsibilities of the Commonwealth, such as the establishment of various trust funds aimed at supporting initiatives in education, public health, and infrastructure. The bill also specifies the requirement for the Office of the Comptroller to transmit the Statement of Budgetary and Financial Reports (SBFR) by October 31, although it was transmitted later due to delays in the final FY24 supplemental budget bill. Overall, the bill aims to enhance transparency and accountability in the Commonwealth's financial management, ensuring that resources are effectively allocated to meet the needs of various sectors while maintaining fiscal stability.