State Auditor's E-Update - 4/9/2021
1. Message from Auditor Blaha
2. Pension: Audit Threshold for Relief Associations
3. TIF: TIF Pooled Debt Form
4. Available: 2020 Annual Financial Reporting Forms and Due Dates
5. Avoiding Pitfall: Records Retention
1. Message from Auditor Blaha
I am pleased to share that this week I received my first dose of the Pfizer vaccine.
This is a reminder that all Minnesotans ages 16+ are now eligible for the COVID-19 vaccine. For real time vaccine appointments in Minnesota, check out the Vaccine Spotter map here: https://www.vaccinespotter.org/MN/. If you live in a high density part of the state, and you're able to drive a little further, it is more likely that you will find an open appointment slot in greater Minnesota.
The Vaccine Connector (https://vaccineconnector.mn.gov/) is a statewide program that helps Minnesotans navigate the vaccination process -- please continue to encourage people in your community to sign-up for this program!
While we continue to make record breaking progress (over 3 million doses administered so far), please remember that we are not yet out of the woods. Case numbers remain steady so wearing your mask and maintaining social distance are still important.
I am grateful to everyone who is making the vaccination process so smooth in Minnesota. From the nurses administering the vaccine to the person driving their neighbor to get the vaccine, we remain in this together. I am so proud of you, Minnesota.
2. Pension: Audit Threshold for Relief Associations
Volunteer fire relief associations with assets or liabilities of at least $500,000 must submit an annual audit to the Office of the State Auditor with the relief association’s annual reporting forms. End-of-year asset and liability amounts, based on Special Fund amounts only, determine whether a relief association has exceeded the statutory threshold.
After a relief association exceeds the threshold in either assets or liabilities an audit is required beginning with the next reporting year’s reports, rather than the current-year reports.
3. TIF: TIF Pooled Debt Form
In addition to filing an Annual TIF Report Form for each tax increment financing (TIF) district, authorities must also submit a TIF Pooled Debt Form for any outstanding pooled debt. The forms will be made available in May and are due August 2nd. Authorities that have new pooled debts should notify our office as soon as possible to enable the new form to be available when the other forms are posted in the State Auditor Form Entry System (SAFES).
To learn more, please visit:
https://www.osa.state.mn.us/training-guidance/guidance/tif-topics-articles/tif-pooled-debt-form/
If you have any questions, please contact us at TIF@osa.state.mn.us.
4. Available: 2020 Annual Financial Reporting Forms and Due Dates
The 2020 Annual Financial Reporting Form (Reporting Form) is now available through the State Auditor’s Form Entry System (SAFES) at:
Instructions on completing the Reporting Form can be found at:
https://www.osa.state.mn.us/media/35xpwwlj/instructionsfinancialform.pdf
CTAS Users are now also able to submit the State Auditor Data File and Financial Statements right from CTAS. Instructions can be found at:
https://www.osa.state.mn.us/media/03fpaokp/yearendreportinginstructions.pdf
For cities and townships reporting on a cash basis of accounting, the Reporting Form (CTAS: State Auditor Data File) and Financial Statements were due March 31, 2021.
For entities reporting on a GAAP basis of accounting, the Reporting Form and Audit are due by June 30, 2021. For Special Districts, the Annual Financial Reporting Form and Financial Statements/Audit are due 180 days after the end of the District's fiscal year.
5. Avoiding Pitfall: Records Retention
Government records must be preserved according to state law. In Minnesota, local governments may only destroy government records pursuant to:
- An “Application for Authority to Dispose of Records” submitted to and approved by the State Records Disposition Panel; or
- A records retention schedule adopted by the governing board and approved by the State Records Disposition Panel.
This Avoiding Pitfall is available on our website here: