State Auditor's E-Update - 5/6/2022
1. Message from Auditor Blaha
2. Meeting: Supplemental State Aid Work Group
3. Reminder: TIF Certification Cut-Off Approaching, Sample Supplement Available
4. Avoiding Pitfall: Contractors' Performance and Payment Bonds
1. Message from Auditor Blaha
This week Auditor Blaha spent time with local leaders in Northeast Minnesota. She made stops in Duluth, Two Harbors, Grand Marais, and Grand Portage. Auditor Blaha had the opportunity to share our State of Main Street data with members of the Minnesota Indian Affairs Council where leaders offered keen insights into how local economic trends play out in their nations.
As we travel, we like to make as many stops as possible. If you would like to invite Auditor Blaha to event in your community or request an in-person visit, please email State.Auditor@osa.state.mn.us.
2. Meeting: Supplemental State Aid Work Group
The Supplemental State Aid Work Group will meet on May 12, to evaluate the impact of various allocation options for supplemental state aid.
The meeting will be held from 2:00 p.m. to 3:30 p.m. remotely via Zoom, and will be live-streamed for those who are interested in watching. The live-stream link, along with the meeting agenda and materials, are available on the Supplemental State Aid Work Group page of the OSA website.
3. Reminder: TIF Certification Cut-Off Approaching, Sample Supplement Available
After a TIF plan is approved, an authority must request certification of the TIF district by the county auditor, who then certifies the district's original values. June 30th is an important cut-off date for the certification request. Requests for certification made on or before this date will have their original values based on the previous assessment year, and requests made after June 30th will be based on the current assessment year. TIF authorities should seek to understand the implications and plan accordingly.
If your county does not have its own prescribed form for requesting certification, the OSA recommends attaching the TIF District Certification Request Supplement form available on our website when making your request. This recommended sample was created to replace the discontinued sample previously provided by the Department of Revenue.
If you have any questions, please contact us at TIF@osa.state.mn.us.
4. Avoiding Pitfall: Contractors' Performance and Payment Bonds
When public entities enter into contracts greater than $175,000, they must obtain a performance bond and a payment bond from the contractor. This requirement, with a few exceptions, applies to contracts for “the doing of any public work.”
The performance bond helps ensure that the work will be completed according to the terms of the contract. The payment bond helps ensure that subcontractors, and people who provide labor and materials, are paid.
This Avoiding Pitfall is available on our website.