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HF 853

as introduced - 88th Legislature (2013 - 2014) Posted on 04/11/2013 05:31pm

KEY: stricken = removed, old language. underscored = added, new language.


Version List Authors and Status

1.1A bill for an act
1.2relating to public safety; fire and police department aid; modifying threshold
1.3for financial reports and audits;amending Minnesota Statutes 2012, section
1.469.051, subdivision 1.

1.6    Section 1. Minnesota Statutes 2012, section 69.051, subdivision 1, is amended to read:
1.7    Subdivision 1. Financial report and audit. (a) The board of each salaried firefighters
1.8relief association, police relief association, and volunteer firefighters relief association as
1.9defined in section 424A.001, subdivision 4, with assets of at least $200,000 $500,000 or
1.10liabilities of at least $200,000 $500,000 in the prior year or in any previous year, according
1.11to the applicable actuarial valuation or financial report if no valuation is required, shall
1.12prepare a financial report covering the special and general funds of the relief association
1.13for the preceding fiscal year, file the financial report, and submit financial statements.
1.14(b) The financial report must contain financial statements and disclosures which
1.15present the true financial condition of the relief association and the results of relief
1.16association operations in conformity with generally accepted accounting principles and in
1.17compliance with the regulatory, financing and funding provisions of this chapter and any
1.18other applicable laws. The financial report must be countersigned by:
1.19(1) the municipal clerk or clerk-treasurer of the municipality in which the relief
1.20association is located if the relief association is a firefighters relief association which is
1.21directly associated with a municipal fire department or is a police relief association; or
1.22(2) by the municipal clerk or clerk-treasurer of the largest municipality in population
1.23which contracts with the independent nonprofit firefighting corporation if the volunteer
2.1firefighter relief association is a subsidiary of an independent nonprofit firefighting
2.2corporation and by the secretary of the independent nonprofit firefighting corporation; or
2.3(3) by the chief financial official of the county in which the volunteer firefighter
2.4relief association is located or primarily located if the relief association is associated with
2.5a fire department that is not located in or associated with an organized municipality.
2.6(c) The financial report must be retained in its office for public inspection and must
2.7be filed with the governing body of the government subdivision in which the associated
2.8fire department is located after the close of the fiscal year. One copy of the financial report
2.9must be furnished to the state auditor after the close of the fiscal year.
2.10(d) Audited financial statements must be attested to by a certified public accountant
2.11or the state auditor and must be filed with the state auditor within 180 days after the close
2.12of the fiscal year. The state auditor may accept this report in lieu of the report required in
2.13paragraph (c).

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