State Auditor's E-Update - 9/2/2022
1. Message from Auditor Blaha
2. Relief Associations: Pension Newsletter
3. TIF: Amending a TIF Plan for Project Cost Increases
4. Avoiding Pitfall: Depositories – Federal Deposit Insurance
1. Message from Auditor Blaha
This Labor Day weekend, I am thinking about the following quote from Dr. Martin Luther King, Jr.
"All labor that uplifts humanity has dignity and importance and should be undertaken with painstaking excellence."
I am grateful to working people across our state, particularly those working in local government.
So as we say our annual goodbye to summer and welcome fall, I hope you have a safe and happy Labor Day!
2. Relief Associations: Pension Newsletter
The August Pension Newsletter has been released and can be accessed on the OSA website. The Newsletter provides a reminder about the upcoming deadline to be eligible for receipt of 2022 fire state aid. The Newsletter also provides information about survivor benefits for deferred members and a link to a sample designation of beneficiary form. A tip for answering the new question on the 2021 FIRE Form about fire state aid allocation agreements is also included.
3. TIF: Amending a TIF Plan for Project Cost Increases
Authorities should monitor their project costs to ensure that they do not exceed the project costs authorized in the TIF plan. A modification of the TIF plan may be desired. Please see the Amending a TIF Plan for Project Cost Increases article for more information.
If you have any questions please contact us at TIF@osa.state.mn.us.
4. Avoiding Pitfall: Depositories – Federal Deposit Insurance
Government entities must designate their depositories as provided in Minn. Stat. § 118A.02.
All public funds on deposit must be protected by deposit insurance, provided by the Federal Deposit Insurance Corporation(FDIC) or the National Credit Union Administration(NCUA), pledged collateral or surety bond.
The Avoiding Pitfall is available on the OSA website.