Transcript Office of the Legislative Auditor

State of Minnesota
Office of the Legislative Auditor
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Overview Presentation
for
State Government Finance Committee
House of Representatives
State of Minnesota
February 1, 2011
OLA: History
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Created in 1973
Recommendation of the
Loaned Executive Action Panel (LEAP)
Modeled after the Government
Accountability Office (GAO)
Post audit and oversight is a
legislative branch responsibility
OLA: Mission
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Strengthen accountability and
legislative oversight
Promote strong financial management
and cost-effective administration of
organizations and programs funded
with public money
OLA: Work Products
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Compliance and Control Audits
Financial Statement Audits
Information Technology Audits
Evaluations
Investigations
OLA: Principal Goal
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Ensure that every OLA report is
accurate, objective, timely, and useful
OLA: Standards
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Generally Accepted Auditing Standards
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Require fact verification, documentation,
internal and external review
Independence Standards
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Require both organizational and
individual independence
OLA: Jurisdiction
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State Executive Branch
State Judicial Branch
State-Funded Programs
Three Metropolitan Organizations
“Quasi-Government” Organizations
Public Money
OLA: Authority
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Cooperation with OLA required by law,
but OLA also has subpoena authority
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OLA has access to all documents and
data related to the use of public funds
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Legislative Auditor may take testimony
under oath
OLA: Organization
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Legislative Audit Commission
(bipartisan, 12 members)
Commission appoints
Legislative Auditor (6-year term)
Office of the Legislative Auditor
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Financial Audit Division (FAD)
Program Evaluation Division (PED)
OLA: Staffing
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Legislative Auditor
Deputy Legislative Auditor (FAD)
Financial Auditors (38)
Evaluators (13)
Investigator
Administrative Support Staff (4)
Information Technology Staff (3)
OLA: Funding
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• Fiscal year 2011 General Fund
appropriation to OLA approximately
$5.8 million
• Approximately $1.2 million will be
returned to the General Fund through
indirect cost allocations and direct
billings for OLA audit services
OLA: Challenges/Response
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Challenges
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Retaining experienced staff
Providing adequate audit coverage
Response
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Emphasize commitment to OLA mission
Deploy staff strategically