MN HF1160

Legislative auditor must appoint a fiscal oversight officer to conduct reviews of transit financial activity for the Metropolitan Council's Transportation Division and joint powers board under section 297A.992.

Fiscal oversight officer must submit quarterly transit financial activity reviews to the Legislative Audit Commission and relevant legislative committee chairs within 14 days of each fiscal quarter end.

Each quarterly review must include monthly financial statements, lists of transit-related obligations and agreements, committed funds analysis, and independent fiscal viability analysis of revenues and expenditures.

Metropolitan Council and joint powers board must produce monthly financial statements and provide timely information requested by the legislative auditor.

Unspecified amount from the general fund is appropriated to the legislative auditor in fiscal year 2017 for these transit oversight purposes, available for two years after appropriation.