Minnesota Office of the Legislative Auditor
Financial Audit Division

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Report Summary
Department of Revenue

 

Financial Audit Division Report 08-09 Released  March 20, 2008

Conclusion:

The department had adequate internal controls over financial reporting and generally complied with certain provisions of laws, regulations, contracts, and grants. However, the department had the following issue of noncompliance with state statute:
Audit Findings:

  • The Department of Revenue did not deposit tax receipts collected by the cashier in a timely manner.
   Audit Scope:

Tax revenue and expenditure programs material to the basic financial statements of the State of Minnesota for fiscal year 2007.


Background:

The Department of Revenue administers Minnesota’s revenue system, which manages 28 state taxes (including individual income, sales, corporate franchise, petroleum, environmental, gambling, cigarette/tobacco, alcohol, insurance, and health care provider taxes) and state assessed property taxes. The department collected about $15.5 billion in state taxes for fiscal year 2007 and oversaw the uniform application of the property tax laws.

More Information

Office of the Legislative Auditor ♦ Room 140, 658 Cedar St., St. Paul, MN 55155