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~ STATE OF MINNESOTA /?~ / <br /> OFFICE OF TIlE STATE AUDITOB <br /> <br /> SAINT PAUL 55103 <br /> <br /> City Finance Officers such as yourself <br /> and modernize the 1973 Chart of Accounts <br /> · In response to this need, this office <br /> Finance Officers to develop a new <br /> Minnesota Cities of 2500 and more <br /> <br /> coordinator. <br /> <br /> ccountlng and financial reporting <br /> of the 1973 Chart of Accounts. <br /> the need to revise and update <br /> <br /> 9 of Statement 1 by the NCGA. <br /> 1980 GAAFR (Governmental Accounting, <br /> Reporting) by the MFOA. <br /> of Chapter 787, Minnesota Laws of 1978 by the <br /> Legislature. <br /> <br /> developed a new Uniform Chart of Accounts which <br /> you during December of 1981. Implementation <br /> of Accounts will result in much more uniform accounting <br /> reporting than we have had in the past. <br /> <br /> Let me share with you some reasons why I think it is important that <br /> Minnesota Cities account and report on a uniform basis as soon as <br /> possible. <br /> <br />I <br />I <br />I <br />I <br /> <br />In the current economic environment, your policy makers <br />(council and voters) will increasingly look to you for <br />accurate data that lends itself to comparison with other <br />cities. You will play a vital role in cutback management <br />and your visibility will increase. <br /> <br />The essential thrust of a financial health program which <br />involves an analysis of cities rests on the availability <br />of comparable data. The current differences in accounting <br />and reporting practices make accurate comparisons difficult. <br /> <br />296-2551 <br /> <br />I <br />I <br /> <br />The State Legislature, in reexamining its financial <br />relationship with local units of government, is going to <br />need data which lends itself to comparison.. <br /> <br />I <br /> <br />AN EQUAL OPPORTUNITY EMPLOYER <br /> <br /> <br />