Office of the Legislative Auditor - Financial Audit Division
Report Summary State Board of Investment
Financial Statement Audit
Financial Audit Division Report 10-13
Released April 6, 2010
The Minnesota State Board of Investment’s (SBI) financial statements for the Supplemental Investment Fund and the Post Retirement Investment Fund were fairly presented in all material respects. However, SBI had a weakness in internal control over financial reporting, as noted below.
Prior Finding Partially Resolved: The State Board of Investment did not sufficiently identify, analyze, and document internal controls related to financial reporting and business operations.
We audited SBI’s Supplemental Investment Fund and Post Retirement Investment Fund financial statements for the fiscal year ended June 30, 2009.