OSA Weekly Update - 3/15/2024
1. Message from Auditor Blaha
2. Reminder: Cash Basis Cities and Township Reporting
3. Reminder: Signing Pension Reporting Forms
4. Avoiding Pitfall: Cash Register Theft Schemes: Voids and Returns
5. Upcoming Deadlines
1. Message from Auditor Blaha
Thank you to all who participated in our State of Main Street listening sessions! Over 100 Minnesotans reviewed our latest county, city, and township data and shared how the numbers are affecting them on the ground. The discussions were enlightening, the panelists were amazing, and the data was compelling. It was so good we don’t want the conversation to stop. As we finalize our analysis, we want to hear from you. Take a look at our trends and think about what they mean in your neck of the woods. Email me at State.Auditor@osa.state.mn.us with your takeaways and questions.
2. Reminder: Cash Basis Cities and Township Reporting
The Annual Financial Reporting Form for Cities and Townships reporting on a cash basis of accounting is due April 1, 2024. The Annual Financial Reporting Form, or the State Auditor Data File for CTAS users, and Financial Statements should be submitted through the State Auditor's Form Entry System (SAFES).
If you don't have a SAFES username and password, email safes@osa.state.mn.us. If you have any questions on reporting, email gid@osa.state.mn.us and to ctas@osa.state.mn.us for CTAS users.
3. Reminder: Signing Pension Reporting Forms
Relief association reporting form submissions aren't complete until they are signed by all required form signers. Reporting forms can be signed electronically in the SAFES, or paper signature pages can be submitted by email, fax, or mail. Detailed instructions for the SAFES electronic signature process are provided in the Reporting Checklist for Volunteer Fire Relief Associations.
For public entities using cash registers, it is important to recognize that voids and returns can be used to cover up cash register theft schemes. To reduce the risk of becoming a target of such a scheme, remember to segregate duties: the person ringing up the sale should not be able to approve voids or returns.
One very simple internal control is the use of void and return forms at each register. The form should identify the amount of the void or return, the employee working the cash register, and the customer involved in the return. The form should require a manager’s approval of the void or return. If the manager is the person initiating the void or handling the return, a second person’s approval should be required. Once the void or return is approved, the form should be placed in the cash register drawer and maintained with the cash register tapes.
The full Avoiding Pitfall is available on the OSA website.
4. Upcoming Deadlines
Relief Association Reporting Deadlines
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.
County TIF Information Forms Due April 1
The County TIF Information Form is due from counties by April 1, 2024. The form captures activity that occurred in 2023 including the county's TIF administrative activities, distributions of tax increment, and transfers of TIF enforcement deduction. The information assists the Office of the State Auditor in its oversight of TIF authorities. Instructions on accessing the form in SAFES were emailed to county representatives on January 16, 2024.
If you have any questions, please contact us at TIF@osa.state.mn.us.