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3 golden objects Minnesota Legislature

Office of the Legislative Auditor - Financial Audit Division

Report Summary
Public Employees Retirement Association

Financial Audit

For the Year Ended June 30, 1993

 

Public Release Date: May 13, 1994 No. 94-21

Objectives

  • Examine the Associations Financial Statements

  • Evaluate Internal Control Structure: Employee and employer contributions, annuity payments, Police and Fire Fund consolidations.

  • Test Compliance with certain Finance-Related Legal Provisions.

Conclusions

We issued an unqualified opinion on the association's financial statements.

We found one area where the internal control structure needed improvement:

  • PERA's system for monitoring funds transferred to the Minnesota Post Retirement Investment Fund needs improvement.

We found no departures from finance-related legal provisions.