Mass. Gen. Laws ch. 74, § 42K: Receipts and expenditures; annual report; monthly statements; accounting system

Section 42K. A complete financial report covering all receipts and expenditures shall be made annually to the governor and the general court. Monthly statements of receipts and expenditures shall be made to the state comptroller. The trustees shall see that there is maintained an accounting system as required by the state comptroller and the trustees may maintain such additional accounts as they deem necessary for the management of the college and the institute.