MN HF5223

Cities may elect to provide statutorily required audits to the state auditor on a schedule established by this new subdivision.

Cities receiving $50,000 to $99,999 in aid annually must undergo an audit only if they did not have one in the previous year.

Cities receiving less than $50,000 in aid annually must undergo an audit only if they did not have one in the previous two years.

"Aid amount" is defined as the average of distributions received under sections 477A.011 to 477A.03 over the previous three calendar years.

The provision is effective for financial reports made in calendar year 2025 and thereafter.