Threshold for the required submission of audited municipal liquor store financial statements to the state auditor amended.

This bill (HF 1956) raises the sales threshold requiring Minnesota cities with municipal liquor stores to submit audited financial statements to the state auditor. It amends Minnesota Statutes § 471.6985, subdivision 2, increasing the required annual sales amount from $350,000 to $500,000. Cities operating liquor stores with total annual sales exceeding $500,000 must now submit audited financial statements, certified by a CPA or the state auditor, within 180 days after the fiscal year ends. The change directly affects cities operating municipal liquor stores that previously met the lower $350,000 threshold but now fall below the new $500,000 requirement. The state auditor may grant deadline extensions upon request for cities demonstrating inability to comply.