This bill proposes amendments to Minnesota's retirement statutes, specifically regarding firefighters' relief associations, based on recommendations from the state auditor’s Fire Relief Association Working Group. The key changes include:

1. Financial Reporting Requirements: Firefighter relief associations that do not file a formal financial report must prepare a detailed financial statement covering revenue, expenditures, assets, liabilities, and financial position in a prescribed format.

2. Certification of Financial Statements: These statements must be certified by a certified public accountant (CPA) or the state auditor using agreed-upon procedures. The CPA must have at least five years of experience and cannot be a current or former firefighter associated with the relief association.

3. Countersignatures and Submission Deadlines:

   • The financial statement must be countersigned by relevant municipal or county officials, depending on the association’s structure (e.g., municipal clerk, treasurer, or county financial officer).
   • The report must be submitted to the state auditor by June 30 following the fiscal year-end.

4. Accountability for Auditors: CPAs or auditors conducting the agreed-upon financial procedures are subject to specific state reporting requirements.

Additionally, the bill includes amendments to multiple sections of Minnesota Statutes (2024) related to firefighters’ relief associations and repeals Section 424A.015, Subdivision 5.

Overall, the bill enhances financial transparency and oversight for firefighters' relief associations in Minnesota.