Bill > SF3072

This bill modifies the threshold for municipal liquor stores' financial reporting requirements to the state auditor by increasing the annual sales trigger for mandatory audited financial statements from $350,000 to $500,000. Currently, cities operating municipal liquor stores with annual sales exceeding the previous threshold were required to submit audited financial statements prepared by a certified public accountant or the state auditor within 180 days after the end of their fiscal year. The bill raises this sales threshold, which means fewer municipal liquor stores will be obligated to produce these detailed audited statements. The state auditor retains the ability to extend the reporting deadline if a city demonstrates an inability to comply, and the change will take effect the day after the bill is enacted. This modification potentially reduces administrative burden for smaller municipal liquor stores while maintaining financial oversight for larger operations.

Government Affairs

https://www.revisor.mn.gov/bills/bill.php?b=Senate&f=SF3072&ssn=0&y=2025