OSA Weekly Update - 8/2/2024
1. Message from Auditor Blaha
2. Released: Pension Newsletter
3. TIF Annual Disclosure
4. Released: CTAS 2024 Updates Training Video
5. Avoiding Pitfall: Paying Vendors
6. Job Openings
1. Message from Auditor Blaha
The Office of the State Auditor (OSA) hosted its first Audit and Reporting Group (AaRG) meeting on Aug. 1. AaRG was established to modernize local audit requirements, streamline regulations, and update oversight practices across county, city, town, school district and special district levels. Working Group members reviewed 2023 local government audit and reporting requirements.
The next Working Group meeting will be held on Thursday, Aug. 15 from 2-4 p.m. as a hybrid format, and members will discuss the public finance staff shortage. If you have stories about how the shortage has been affecting you, or if you’d like a link to view the meeting, contact us at outreach@osa.state.mn.us.
2. Released: Pension Newsletter
The July Pension Newsletter was released. The Newsletter provides information about the Schedule Form that relief associations with a defined-benefit lump-sum plan are required to complete to determine 2025 required contribution amounts. The Newsletter also provides a reminder about protecting private member data contained on some reporting forms, and information about municipal ratification requirements for benefit level and interest rate changes.
3. TIF Annual Disclosure
TIF Authorities are required to publish an annual statement containing specific information about each TIF district. The statement must be published in a newspaper of general circulation in the municipality no later than August 15, 2024. The information to be published can be found on the "ADS" Tab of the TIF Annual Reporting Form. Do not forget to publish the disclosure in a timely manner.
Note: Be sure to verify pre-populated information such as the current, original and captured net tax capacities before publishing your annual disclosure statement(s). If you notice a correction is needed for an already submitted report and would like to submit a revised report, alert us and we can mark the file for resubmission.
If you have any questions, contact us at TIF@osa.state.mn.us.
4. Released: CTAS 2024 Updates Training Video
The on-going modernization project for the Small City and Town Accounting System (CTAS), developed by the OSA, completed its first set of updates in April. We recently created a training video for these updates. This training video serves as a guide for CTAS users and is available on the OSA website.
The CTAS 2024 enhancements include updates to leave functionality (sick, vacation, comp time, and Earned Sick and Safe Time), updates to the PERA Annual Exclusion Report, adding 1096 reports for each type of 1099, allowing the clicking of the checkbox in the Chart of Accounts to activate/inactivate items, and adding new Enterprise Fund Types.
The OSA will continue to make updates to CTAS in 2024. If you have any issues or need assistance, send an email to CTAS@osa.state.mn.us or call (651) 296-6262.
5. Avoiding Pitfall: Paying Vendors
Adequate support for payments is a fundamental requirement of a sound accounting system. Before vendor claims are paid, the corresponding invoice should be reviewed, then initialed and dated as approved for payment by an authorized individual.
Marking the invoice as “paid” or “canceled” will also help prevent a second payment from being made for the same invoice. In addition, we suggest that invoices contain the fund and account codes from which the payment will be made, ensuring more accurate posting in the entity’s general ledger.
The full avoiding pitfall is available on the OSA website.
6. Job Openings
Township and Local Government Financial Analyst
The OSA is hiring a Township and Local Government Financial Analyst. This position conducts desk reviews of financial reports submitted by local units of government in Minnesota. The primary responsibility is to examine township and local government financial reports for accuracy, completeness, and compliance with applicable regulations and standards. This position is located in St. Paul and will potentially be hybrid after an initial training period in the office. The job posting closes on August 8.
Legal and Special Investigations Administrative Specialist
The OSA is hiring a Legal and Special Investigations Administrative Specialist. Responsibilities include managing daily administrative functions, maintaining divisional records and databases in compliance with retention schedules, and actively communicating with citizens, government agencies, and OSA staff regarding concerns over irregularities, illegal acts, or policy improprieties involving local government entities. This position is a hybrid position located in St. Paul. The job posting closes on August 12.