OSA Weekly Update - 8/15/2025
1. Message from Auditor Blaha
2. Updated: OSA’s Capital Asset Guide
3. Meeting: Fire Relief Association Working Group
4. Avoiding Pitfall: Contractors' Performance and Payment Bonds
1. Message from Auditor Blaha
Let’s connect at the Great Minnesota Get-Together! The State Fair kicks off next Thursday, and I’ll be at the Main Gate to welcome fairgoers on opening day. I’ll also be making additional visits throughout the fair. Much like local government, the Minnesota State Fair brings people together and fosters community – and I’d love to hear what’s happening in yours. If you’d like me to stop by your booth or take part in a special event, reach out to Executive Aide Burke Spizale at Burke.Spizale@osa.state.mn.us or (612) 469-4447.
2. Updated: OSA’s Capital Asset Guide
The Office of the State Auditor’s Capital Asset Guide has been updated and is available on our website. There are numerous GASB statements that impact the recognition and reporting of capital assets for financial reporting. The Capital Asset Guide provides a summary of guidance for use by Minnesota Local Governments.
3. Meeting: Fire Relief Association Working Group
The State Auditor’s Fire Relief Association Working Group met on Tuesday, August 12. Working Group members continued discussing relief association audit requirements and agreed to pursue an increase to the threshold at which an annual audit is required from $750,000 to $1,000,000 in either special fund assets or liabilities. Working Group members also began reviewing tentative changes to provisions governing how service is credited to firefighters who return to relief association membership after a break in firefighting service.
The next Working Group meeting will be held on Tuesday, September 16, from 2 – 3:30 p.m. Meeting recordings and materials are available on the Working Group page of the OSA website.
4. Avoiding Pitfall: Fraud Prevention - The Perception of Detection
Preventing fraud is generally less costly than trying to recover losses. One inexpensive, yet effective, fraud prevention measure is to increase the perception of detection. For example, internal controls are most effective at preventing fraud when they are known by those who may be tempted to steal from a public entity. This means being open about the fact that the entity is taking steps to prevent and detect fraud.
The full Avoiding Pitfall is available on the OSA website.
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