1. Message from Auditor Blaha

2. Released: Financial and Investment Report of Volunteer Fire Relief Associations

3. Released: Pension Newsletter

4. TIF: Rental Property Income Requirements

5. Avoiding Pitfall: Cashing Personal or Third-Party Checks

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1. Message from Auditor Blaha

Each week in our E-Update we highlight an Avoiding Pitfall. Avoiding Pitfalls are short, educational pieces to address questions frequently asked of the Office of the State Auditor (OSA) on topics affecting local governments and others subject to the OSA's oversight. The information and guidance in each Avoiding Pitfall is current as of the date last published. Subsequent law or other developments may have affected their current applicability. Avoiding Pitfalls are not legal advice and should not be relied upon in lieu of legal advice.

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2. Released: Financial and Investment Report of Volunteer Fire Relief Associations

The Office of the State Auditor (OSA)’s Financial and Investment Report of Volunteer Fire Relief Associations for the year ended December 31, 2020, was released.

The Report summarizes and evaluates the finances, basic benefit structure, and investment performance of Minnesota’s volunteer fire relief associations. Annual benefit levels, municipal contribution amounts, fire state aid amounts, and rates of return for each relief association are included in the Report.

The Report can be accessed on the OSA website.

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3. Released: Pension Newsletter

The March Pension Newsletter has been released. The Newsletter provides an update on the status of relief association-related legislation. The Newsletter also provides a reporting reminder and tip for completing the 2021 FIRE Form. Information regarding the annual business renewal for nonprofit corporations is also provided.

The complete Newsletter can be accessed on the OSA website.

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4. TIF: Rental Property Income Requirements

Rental property in a TIF housing district must comply with income requirements for the duration of the district, which has implications for maintaining documentation. To learn more, please visit the OSA website.

If you have any questions, please contact us at TIF@osa.state.mn.us.

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5. Avoiding Pitfall: Cashing Personal or Third-Party Checks

Some government entities cash personal or third-party checks from employees or the public. We recommend that government entities prohibit this practice. Government entities should not function as banks for their employees or for third parties. Cashing personal or third-party checks increases the entity’s risk of losses due to insufficient funds.

This Avoiding Pitfall is available on our website.