OSA Weekly Update - 2/23/2024
1. Message from Auditor Blaha
2. Reminder: Relief Association Reporting Deadline
3. Avoiding Pitfall: Reconciliations
4. Upcoming Deadlines
1. Message from Auditor Blaha
It’s that special time of year again – “State Ofs”! State of the Union, State of the State, State of the Band, State of the City: Late winter is when entities share status updates and visions for the year ahead. At the OSA, we created the State of Main Street to share city, county, and township data and how it impacts Minnesotans. The first step in that process is to hear from you. Join us for a webinar where we share what we’re seeing in local budget numbers and ask for your reaction. We use your ideas and experiences to build an analysis that helps local and state leaders make decisions based on facts. Visit the OSA website to choose a time that works for you.
2. Reminder: Relief Association Reporting Deadline
Reporting forms for fire relief associations with less than $750,000 in assets and less than $750,000 in liabilities are due by March 31. In addition to the reporting forms, each relief association with assets and liabilities below the statutory threshold must have an Agreed-Upon Procedures engagement and submit the certified public accountant’s report on applying the procedures.
Form submissions are not complete until all required signatures are provided. The form signature pages are provided in the PDF version of the form that is created after the form is uploaded through the State Auditor’s Form Entry System (SAFES). The forms can be signed electronically in SAFES or paper signature pages can be submitted.
Reporting forms and audited financial statements for fire relief associations with assets or liabilities of at least $750,000 are due by June 30.
Reconciliations are critical control activities which involve the comparison of two sets of related records or balances from different sources. Effective reconciliations identify differences between the records or balances. When differences are found, one should then investigate why the differences exist (e.g., timing differences or errors), and resolve the differences in a timely manner. Documentation resolving the differences should be retained.
Supervisors should periodically review key reconciliations to verify that they were performed on schedule and that all differences were adequately explained and resolved.
The full Avoiding Pitfall is available on the OSA website.
4. Upcoming Deadlines
2023 Annual Forfeiture Expenditures Report by February 28, 2024
Law enforcement agencies and prosecuting authorities, please remember to report expenditure of forfeited property proceeds, including proceeds received through state and federal forfeiture law to the Office of the State Auditor (OSA) by February 28, 2024.
Instructions for the Forfeiture Expenditures form may be found on the OSA website.
Reporting must be done using the online reporting tool available in SAFES.
If you have not used SAFES in the past and need a username and password, please send your contact information including name, title, entity mailing address, and phone number to SAFES@osa.state.mn.us.
If you have questions or need assistance completing the form, please contact Christy John at 651-297-3681 or Christy.John@osa.state.mn.us.