OSA Weekly Update - 11/17/2023

1. Message from Auditor Blaha

2. Reminder: Registration for Local Government Training Conference

3. Avoiding Pitfall: Taxable Employee Expense Reimbursements

4. Upcoming Deadlines

1. Message from Auditor Blaha

Please join us on Wednesday, November 29 for our annual Local Government Training Conference. This year’s conference is fully virtual. With topics including our legal compliance update, Subscription-Based Information Technology Arrangements (SBITAs), and using GASB implementation guides, you’ll be better prepared to do local finances right. Register online and reach out with any questions to State.Auditor@osa.state.mn.us.

See you in a couple weeks!

2. Reminder: Registration for Local Government Training Conference

Registration is now open for our annual Local Government Training Conference on November 29, 2023. This year's conference will be fully virtual. You will find the conference agenda as well as the link to register on the OSA website.

3. Avoiding Pitfall: Taxable Employee Expense Reimbursements

If employee expenses are submitted for reimbursement more than 60 days after the expense is incurred, the reimbursement may be taxable and appropriate withholdings would need to be made.

For a detailed explanation of this issue, see IRS Publication 463, “Travel, Entertainment, Gift, and Car Expenses” found on the IRS website.

The full Avoiding Pitfall is available on the OSA website.

4. Upcoming Deadlines

Pension Reporting Information

Minnesota law requires forfeiture of fire state aid for fire relief associations that do not submit all required reporting information to the OSA by November 30. If 2022 reporting forms are not fully received in our office on or before that date, a relief association’s 2023 state aid will be automatically forfeited and the relief association will not be eligible for future state aid until the 2022 reporting forms are received. The OSA does not have authority to grant filing extensions beyond the November 30 deadline.

If you have questions regarding reporting requirements or need access to online reporting forms, please contact the Pension Division at 651-282-6110 or pension@osa.state.mn.us.