Cluster · revenue · no year

Threshold for annual audit requirement if city's annual revenue for all governmental and enterprise funds combined exceeds this amount.

Every document that mentions this number (1)

• Meeting City Council Meeting — Agenda Packet (2024-12-10)Dec 10, 2024p.2raw: $150,000

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  Threshold for annual audit requirement if city's annual revenue for all governmental and enterprise funds combined exceeds this amount.

  If the offices of clerk and treasurer are combined as provided by this section and the city's annual revenue for all governmental and enterprise funds combined is more than the amount in paragraph (c), the council shall provide for an annual audit of the city's financial affairs by the state auditor or a public accountant in accordance with minimum auditing procedures prescribed by the state auditor. ... (c) For the purposes of paragraph (b), the amount in 2004 is $150,000, and in 2005 and after, $150,000 adjusted for inflation using the annual implicit price deflator for state and local expenditures as published by the United States Department of Commerce.

  Reasoning: Explicitly references a dollar threshold for audit requirements in statute.