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HF2083 (Legislative Session 94 (2025-2026))

Revenue threshold requiring cities to perform annual audits raised.

Related bill: SF564

AI Generated Summary

This Minnesota House bill, H.F. No. 2083, proposes raising the revenue threshold that determines whether cities must conduct annual financial audits. Specifically, it amends Minnesota Statutes 2024, section 412.591, subdivision 3.

Key provisions include: - If a city's clerk and treasurer offices are combined, and its annual revenue exceeds a specified threshold, the city must undergo an annual audit by the state auditor or a certified public accountant. - If the city's revenue is at or below the threshold, it must undergo an audit at least once every five years instead of annually. - The current revenue threshold of $150,000 is being increased to $500,000 for 2025. - The threshold continues to be adjusted annually for inflation using the implicit price deflator for state and local expenditures, as published by the U.S. Department of Commerce.

The bill aims to reduce the audit burden on smaller cities by increasing the revenue amount at which annual audits become mandatory.

Bill text versions

Actions

DateChamberWhereTypeNameCommittee Name
March 09, 2025HouseFloorActionIntroduction and first reading, referred toElections Finance and Government Operations
March 09, 2025HouseFloorActionIntroduction and first reading, referred toElections Finance and Government Operations

Citations

 
[
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "This bill modifies audit requirements for cities under section 412.591.",
      "modified": [
        "Raises the revenue threshold requiring cities to perform annual audits."
      ]
    },
    "citation": "412.591",
    "subdivision": "subd.3"
  }
]

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