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Officials say CUC receivable to retirement fund unlikely to be collectible soon
Summary
During the joint committee hearing, finance officials confirmed outstanding receivables from component units, including a CUC balance owed to the retirement settlement fund, and said collection prospects are limited while those entities struggle financially.
Committee members asked whether the commonwealth could pursue receivables from component units to help meet retirement settlement obligations. The secretary of finance said outstanding receivables remain on the books but collection prospects are uncertain because many component units are also under financial strain.
Representative Marissa Flores identified a receivable from the Commonwealth Utilities Corporation (CUC) described in the hearing as roughly $3.4 million (the transcript references "$33,000,000,…
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