OSA Weekly Update - 10/25/2024
1. Message from Auditor Blaha
2. Reminder: OPEB Trust Investment Reporting Form
3. Avoiding Pitfall: An Environment Where No "Borrowing" of Funds is Allowed
4. Job Openings
1. Message from Auditor Blaha
The early voting totals are a testament to the dedication of local government staff. Over 565,000 Minnesotans have already voted (watch the totals on the Minnesota Secretary of State's website). That’s more than the population of our largest city. Thank you to all keeping the ballots in order, your hard work shows in the numbers.
2. Reminder: OPEB Trust Investment Reporting Form
Other Postemployment Benefits (OPEB) include all benefits, other than pensions, promised to retirees. Minnesota law permits local government entities to create trusts to set aside money to pay future OPEB obligations. Administrators of these trusts are to annually report and certify certain investment information to the Office of the State Auditor by October 25. Contact us at OPEB@osa.state.mn.us with any questions or to obtain login information for accessing the form.
3. Avoiding Pitfall: An Environment Where No "Borrowing" of Funds is Allowed
A control environment, established by management, is essential to an organization’s internal control and the of safeguarding public funds. For example, an environment should be created that prohibits the use of public funds for any personal reason – even in an emergency.
It is not acceptable for an employee to “borrow” funds temporarily from petty cash or from cash receipts. It is not acceptable to use the public entity’s charge card for personal purchases, even if you promptly pay the entity for the purchases. No “I.O.U.s” from employees should be allowed – ever.
The Avoiding Pitfall is available on the OSA website.
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