relating to public safety; fire and police department aid; modifying threshold
for financial reports and audits;amending Minnesota Statutes 2012, section
69.051, subdivision 1.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
Section 1. Minnesota Statutes 2012, section 69.051, subdivision 1, is amended to read:
Subdivision 1. Financial report and audit.
(a) The board of each salaried firefighters
relief association, police relief association, and volunteer firefighters relief association as
defined in section
424A.001, subdivision 4
, with assets of at least
liabilities of at least
in the prior year or in any previous year, according
to the applicable actuarial valuation or financial report if no valuation is required, shall
prepare a financial report covering the special and general funds of the relief association
for the preceding fiscal year, file the financial report, and submit financial statements.
(b) The financial report must contain financial statements and disclosures which
present the true financial condition of the relief association and the results of relief
association operations in conformity with generally accepted accounting principles and in
compliance with the regulatory, financing and funding provisions of this chapter and any
other applicable laws. The financial report must be countersigned by:
(1) the municipal clerk or clerk-treasurer of the municipality in which the relief
association is located if the relief association is a firefighters relief association which is
directly associated with a municipal fire department or is a police relief association; or
(2) by the municipal clerk or clerk-treasurer of the largest municipality in population
which contracts with the independent nonprofit firefighting corporation if the volunteer
firefighter relief association is a subsidiary of an independent nonprofit firefighting
corporation and by the secretary of the independent nonprofit firefighting corporation; or
(3) by the chief financial official of the county in which the volunteer firefighter
relief association is located or primarily located if the relief association is associated with
a fire department that is not located in or associated with an organized municipality.
(c) The financial report must be retained in its office for public inspection and must
be filed with the governing body of the government subdivision in which the associated
fire department is located after the close of the fiscal year. One copy of the financial report
must be furnished to the state auditor after the close of the fiscal year.
(d) Audited financial statements must be attested to by a certified public accountant
or the state auditor and must be filed with the state auditor within 180 days after the close
of the fiscal year. The state auditor may accept this report in lieu of the report required in