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2018-08-27 EDA Packet
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2018-08-27 EDA Packet
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I MINNESOTA STATUTES 2017 469.100 <br /> 469.100 OBLIGATIONS. <br /> Subdivision 1. Taxes and assessments prohibited.An authority must not levy a tax or special assessment, <br /> except as otherwise provided in sections 469.090 to 469.108, pledge the credit of the state or the state's <br /> municipal corporations or other subdivisions, or incur an obligation enforceable on property not owned by <br /> the authority. <br /> Subd. 2. Budget to city.Annually, at a time fixed by charter, resolution, or ordinance of the city, an <br /> authority shall send its budget to its city's council. The budget must include a detailed written estimate of <br /> the amount of money that the authority expects to need from the city to do authority business during the <br /> next fiscal year.The needed amount is what is needed in excess of any expected receipts from other sources. <br /> Subd. 3. Fiscal year. The fiscal year of the authority must be the same as the fiscal year of its city. <br /> Subd. 4. Report to city.Annually, at a time and in a form fixed by the city council, the authority shall <br /> make a written report to the council giving a detailed account of its activities and of its receipts and <br /> expenditures during the preceding calendar year, together with additional matters and recommendations it <br /> deems advisable for the economic development of the city. <br /> Subd. 5. Audits.The financial statements of the authority must be prepared,audited,filed,and published <br /> or posted in the manner required for the financial statements of the city that established the authority. The <br /> financial statements must permit comparison and reconciliation with the city's accounts and financial reports. <br /> The report must be filed with the state auditor by June 30 of each year. The auditor shall review the report <br /> and may accept it or, in the public interest,audit the books of the authority. <br /> Subd. 6. Compliance examinations.At the request of the city or upon the auditor's initiative,the state <br /> auditor may make a legal compliance examination of the authority for that city. Each authority examined <br /> must pay the total cost of the examination,including the salaries paid to the examiners while actually engaged <br /> in making the examination.The state auditor may bill monthly or at the completion of the audit.All collections <br /> received must be deposited in the general fund. <br /> History: 1987 c 291 s 101; 1989 c 335 art 4 s 88 <br /> Copyright U 2017 by the Revisor of Statutes,State of Minnesota.All Rights Reserved. <br />
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