State Auditor's E-Update - 11/19/2021
1. Message from Auditor Blaha
2. Deadline: Pension Reporting Information
3. TIF: Regularly Review Terms of TIF Obligations
4. Avoiding Pitfall: Approval of Relief Association Expenditures
1. Message from Auditor Blaha
I am thankful to you. You have done so much to hold your communities together over the last 20 months. You have provided helpful resources to your neighbors during the pandemic. You have worked within incredibly tight budgets during a very uncertain time. And you continue to show up each day to do what needs to be done for the people of Minnesota.
Thank you, thank you, thank you. I remain in awe of your commitment to local government and I am grateful to be your partner.
Note: There will be no E-Update next week due to the Thanksgiving holiday. We will resume on Friday, December 3.
2. Deadline: Pension Reporting Information
Minnesota law requires forfeiture of fire state aid for volunteer fire relief associations that do not submit all required reporting information to the OSA by November 30. If 2020 reporting forms are not fully received in our office by that date, a relief association’s 2021 state aid will be automatically forfeited and the relief association will not be eligible for future state aid until the 2020 reporting forms are received. The OSA does not have authority to grant filing extensions beyond the November 30 deadline.
If you have questions regarding reporting requirements or need access to online reporting forms, please contact the Pension Division at (651) 282-6110 or pension@osa.state.mn.us.
3. TIF: Regularly Review Terms of TIF Obligations
To avoid making improper payments with tax increment funds, an authority should annually or regularly review the terms of any bonds, notes, loans, or contracts to which tax increment is obligated.
To learn more, please review the TIF topic.
If you have any questions, please contact us at TIF@osa.state.mn.us.
4. Avoiding Pitfall: Approval of Relief Association Expenditures
One of the fiduciary activities specifically assigned to relief association trustees is the expenditure of plan assets. The relief association is a separate entity from the affiliated fire department, and the relief association board of trustees is charged with maintaining relief association accounts. Relief associations should make sure that meetings are scheduled regularly so that expenditures can be approved and disbursed on a timely basis.
This Avoiding Pitfall is available on our website.