What are the audit requirements for cities?
Cities over 2,500 in population, according to the latest census, must have an annual audit in accordance with generally accepted accounting principles.
Cities under 2,500, where there are separate offices of clerk and treasurer, are not generally required by Minnesota law to have an audit.
Cities under 2,500 with the combined office of clerk and treasurer must have an annual audit if total revenues exceed the annual threshold.
Cities under 2,500 with the combined office of clerk and treasurer must have an Agreed-Upon Procedures engagement once in every five-year period if total revenues are equal to or less than the annual threshold.