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Acquisition Oversight Procedures

The SSUAC enabling legislation contains procedures that must be followed when SSUAC acquires certain property. Prior to entering into any contract to acquire real estate at a cost in excess of $100,000, SSUAC is required to enter into a memorandum of understanding with the Massachusetts Secretary of Administration and Finance. SSUAC may not enter into any other contract requiring an annual expenditure in excess of $100,000 by SSUAC without first submitting to the Massachusetts Inspector General (IG) the proposed contract and affording the IG a two-week period of review and comment. Borrowing money, such that the outstanding amount of monies borrowed by SSUAC exceeds $100,000 also requires submission to, and review and comment by the IG.

Annual Financial Audits are conducted and Audit Reports are public and available from the Board upon request.