Key Conclusions:
- We issued an unqualified opinion on the Metropolitan Sports Facilities Commission’s (Commission) financial statements as of and for the year ended December 31, 2004.
- We identified and reported two findings in our Report on Internal Control Over Financial Reporting and on Compliance and Other Matters.
Findings:
- The Commission and the Minnesota Twins continue to operate under an expired 1998 baseball use agreement.
- The Commission did not formalize team financial commitments to pay for advertising displays intended to enhance team revenue.
| The audit report contained two audit findings related to internal controls and finance-related legal compliance. |
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| Audit Scope:
Audit Period:
Fiscal year ended December 31, 2004
Selected Audit Areas:
- Cash and Cash Equivalents
- Capital Assets
- Revenues
- Concessions
- Payroll and Operating Expenses
Agency Background:
The Metropolitan Sports Facilities Commission is comprised of six commissioners appointed by the Minneapolis City Council and a chair appointed by the Governor. The Commission operates the Hubert H. Humphrey Metrodome sports stadium, which was originally constructed in 1982.
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