OSA Weekly Update - 6/7/2024

1. Message from Auditor Blaha

2. Reporting Out-District Expenditures

3. Reminder: Relief Association Reporting Deadline

4. Released: 2022 Minnesota City Finances Report

5. Avoiding Pitfall: Audit Follow-Up

6. Job Openings

7. Deadlines

1. Message from Auditor Blaha

How do you use our data? This week’s release of the OSA's City Finances Report reminds me how much the Minnesotans we serve shape our work. Some of our best report improvements have come from requests and ideas from the public, so your feedback on how you sort, share, and compare our data is always welcome. If you have an interesting way to use our reports or have a request for certain types of data, let us know at state.auditor@osa.state.mn.us.

2. Reporting Out-District Expenditures

The TIF Act requires that authorities annually report the amount of any payments for activities and improvements located outside the district that are paid for or financed with tax increment. This includes activities both physically located outside of the TIF district, as well as costs defined as out-district costs under the pooling limitations. For example, authority administrative costs are defined as out-district costs. The TIF Annual Reporting Form includes a line item on the Project Costs tab where these costs should be reported. When preparing 2023 reporting forms make sure that reporting on this line includes all payments made with tax increments for costs defined as out-district costs. As a reminder, reporting forms are due August 1, 2024.

If you have any questions, contact us at TIF@osa.state.mn.us.

3. Reminder: Relief Association Reporting Deadline

Reporting forms and audited financial statements for fire relief associations with at least $750,000 in assets or liabilities are due by June 30. Reporting forms are accessed and submitted through the State Auditor’s Form Entry System (SAFES). The forms can be signed electronically in SAFES or paper signature pages can be submitted. Additional information is provided in the Reporting Checklist.

4. Released: 2022 Minnesota City Finances Report

This week, State Auditor Julie Blaha released the City Finances Report. The Report summarizes the current and long-term trends for city revenues, expenditures, and debt. The Report and its underlying data are available on the OSA website. The 2022 Minnesota city revenues and expenditures have been updated in the Comparison Tool. The Comparison Tool allows you to compare information for the same city for two different years, or to compare one city to another city.

Making timely and practical use of audit findings should be a key part of a public entity’s internal control system. When a public entity’s auditor provides audit findings, the public entity should develop a corrective action plan to resolve each finding. The corrective action plan should identify the person responsible for resolving the finding and the anticipated completion date for resolution of the finding. Progress on resolving the findings should be monitored by the entity's governing body until the findings are either fully resolved or no longer applicable.

The full Avoiding Pitfall is available on the OSA website.

6. Job Openings

Local Government Auditor Staff Specialists

The OSA is hiring three Local Government Auditor Staff Specialist. Based in Saint Paul, this position is responsible for assisting in the audits of local governments by ensuring that appropriate procedures are performed that are necessary to determine the reliability of clients' financial statements and compliance with legal and regulatory requirements.

The job postings will close on June 13, 2024. For more information, visit the OSA website.

Standards and Procedures Staff Specialist Senior

The OSA is hiring a Local Government Auditor Staff Specialist Senior Position who will work with the Standards and Procedures group within the Audit Division. This position provides oversight of audits conducted to ensure conformance with professional standards, while also providing technical guidance. There are a lot of opportunities for diverse work within Standards and Procedures as we problem solve, review reports, implement and research standards, and issue and review guidance for OSA staff and external entities.

The job posting will close on June 13, 2024. For more information, visit the OSA website.