OSA Weekly Update - 12/13/2024
1. Message from Auditor Blaha
2. Due: 2025 Summary City and County Budget Form by January 31, 2025
3. CTAS 1099-NEC & MISC Forms
4. Available: Key Reporting Requirements Calendar for Fire Relief Associations
5. TIF: Timely Payment of TIF Enforcement Deductions
6. Avoiding Pitfall: First Meeting of the Year
1. Message from Auditor Blaha
The OSA Audit and Reporting Group (AaRG) is getting down to brass tacks, in our case, audit thresholds and basis of accounting. We formed AaRG to dig into ways to ease regulatory burden and improve oversight, and we’re at a point in our analysis where we’ll be reaching out to you. In the new year, watch for a survey asking about why your entity chooses to use a cash basis or GAAP basis of accounting. If you’d like to share your reasons early, feel free to email us at outreach@osa.state.mn.us. Thank you in advance for your ideas.
2. Due: 2025 Summary City and County Budget Form by January 31, 2025
The 2025 Summary City and County Budget Form is now available through SAFES.
The form is due by January 31, 2025. You will need a SAFES User ID and Password to access the Form. If you need a SAFES User ID and Password, send an email to SAFES@osa.state.mn.us with your name, title, entity, public mailing address, email, and phone number. Instructions on completing the form are located on the OSA website.
3. CTAS 1099-NEC & MISC Forms
To ensure that the 1099-MISC and 1099-NEC forms populate correctly, specific account numbers and object codes on disbursements must be used. This will allow the information to flow accurately into the forms. For more detailed information, refer to the CTAS Webpage under Other Resources, titled "Using CTAS for 1099s" at CTAS Review Procedures for 1099-NEC & MISC forms.
4. Available: Key Reporting Requirements Calendar for Fire Relief Associations
The 2025 Key Reporting Requirements Calendar is now available on the OSA website. The calendar lists each reporting form that fire relief associations must submit to the OSA, reporting reminders, and deadlines for additional required State reporting. Links to the forms are provided within the document.
5. TIF: Timely Payment of TIF Enforcement Deductions
As counties make settlements and distributions of property tax collections in December and January, do not forget to make timely payments of the TIF Enforcement Deduction to the State.
Note: Enforcement Deduction payments should routed to the Treasury Division of Minnesota Management and Budget along with the Vital Statistics Monthly Remittance Report. Payments should not be sent to the Department of Revenue.
If you have any questions, contact us at TIF@osa.state.mn.us.
6. Avoiding Pitfall: First Meeting of the Year
Local government entities have specific responsibilities at the beginning of a new year.
At the first meeting of the year, city councils and county boards must designate the entity’s official newspaper. City councils must also elect an acting mayor to assume the mayor’s duties in the mayor’s absence or if the mayor becomes disabled. County boards must elect a chair and a vice-chair, unless the county has adopted either the at-large chair or the elected executive plan.
The first meeting of the year is also a good time to:
- Designate or re-designate official depositories for the entity’s funds;
- Make appointments to boards, commissions and committees;
- Approve bonds for officers and employees who need to be bonded;
- Review any expense reimbursement limits and mileage rates;
- Obtain the annual broker certification forms, if required; and
- Review fee schedules.
The Avoiding Pitfall is available on the OSA website.
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