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Federal Financial Assistance 12/31/1991
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Federal Financial Assistance 12/31/1991
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5/19/2014 11:34:31 AM
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5/19/2014 11:08:57 AM
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Finance Dept
Finance Category
Audit
Finance Number Identifier
Federal Financial Assistance
Date
12/31/1991
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_ City of Lino Lakes, Minnesota <br />Legal Compliance Report <br />FINDING: <br />— CONDITION: <br />law <br />CRITERIA: <br />Untimely Reporting of Outstanding Obliations to County Auditor <br />On or before February 1st of each year, the City of Lino Lakes, Minnesota is <br />required to report to the County auditor the total amount of outstanding <br />obligations as of December 31st of the preceding year. The City of Lino Lakes, <br />Minnesota filed this report on February 19, 1992. <br />Minnesota Statute 471.70 reads as follows: <br />471.70 REPORTING OF OBLIGATIONS BY CITIES, <br />TOWNS, SCHOOL DISTRICTS, AND BODIES <br />CORPORATE AND POLITIC. <br />For the purposes of this section "municipality" means a city, <br />however organized; a school district, however organized; a town; or any <br />other body corporate and politic created under Minnesota law. <br />An "obligation" as used in this section means an obligation as <br />defined in chapter 475. <br />On or before February first each year, it shall be the duty of the <br />principal accounting officer of each municipality to report to the auditor <br />of each county in which such municipality is situate, the total amount of <br />outstanding obligations, and the purpose for which issued as of <br />December 31 of the preceding year. Such report shall be kept by the <br />auditor of each county in a suitable record. On March first each year, it <br />shall be the duty of the auditor of each county to report to the state <br />auditor of such obligations as reported to the county auditor by the <br />principal accounting officer of the municipality, together with the <br />amount and character of all outstanding obligations issued by the <br />county. <br />RECOMMENDATION: <br />We recommend that the City file this report on a timely basis in future years. <br />
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