|Financial Audit Division Report 14-03||Released February 13, 2014|
The Minnesota State Retirement System’s basic financial statements for the fiscal year ended June 30, 2013, were fairly presented in all material respects. However, the retirement system had a weakness in internal control over financial reporting, as noted below.
The Minnesota State Retirement System fully resolved the prior audit finding.1 In fiscal year 2013, the retirement system improved internal controls in order to correctly classify refunds and health care reimbursements in the defined contribution funds financial statements.
1 Minnesota Office of the Legislative Auditor, Financial Audit Division Report 13-03, Minnesota State Retirement System, Report on Internal Control Over Financial Reporting, February 14, 2013.