Comprehensive Annual Financial Report - Minnesota

Comprehensive Annual Financial Report

For the year ended June 30, 2020

State of Minnesota

Comprehensive Annual Financial

Report

For the Year Ended JUNE 30, 2020

Prepared by Minnesota Management and Budget

Jim Schowalter, Commissioner

400 Centennial Office Building 658 Cedar Street

Saint Paul, Minnesota 55155-1489

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State of Minnesota

The State of Minnesota Comprehensive Annual Financial Report can be made available in alternative formats upon request, to ensure that it is accessible to people with disabilities. To obtain this document in an alternate format, contact:

Minnesota Management and Budget 400 Centennial Office Building 658 Cedar Street Saint Paul, Minnesota 55155-1489 651-201-8000

The Minnesota Relay service phone number is 1-800-627-3529.

The State of Minnesota Comprehensive Annual Financial Report is available at the following website:

2020 Comprehensive

Annual Financial Report

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2020 Comprehensive Annual Financial Report

Table of Contents

Introduction

Transmittal Letter from the Commissioner of Minnesota Management and Budget....................................................... Certificate of Achievement................................................................................................................................................ State Organization Chart................................................................................................................................................... State Principal Officials......................................................................................................................................................

Financial Section

Independent Auditor's Report........................................................................................................................................... Management's Discussion and Analysis............................................................................................................................ Basic Financial Statements Government-wide Financial Statements.........................................................................................................................

Statement of Net Position............................................................................................................................................ Statement of Activities................................................................................................................................................. Fund Financial Statements Governmental Funds Financial Statements..................................................................................................................

Balance Sheet............................................................................................................................................................ Reconciliation of the Governmental Funds Balance Sheet to the Statement of Net Position................................... Statement of Revenues, Expenditures and Changes in Fund Balances.....................................................................

Reconciliation of the Governmental Funds Statement of Revenues, Expenditures and Changes in Fund Balances to the Statement of Activities....................................................................................................................................

Statement of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Budgetary Basis General Fund.............................................................................................................................

Proprietary Fund Financial Statements........................................................................................................................ Statement of Net Position......................................................................................................................................... Statement of Revenues, Expenses and Changes in Net Position............................................................................... Statement of Cash Flows...........................................................................................................................................

Fiduciary Fund Financial Statements............................................................................................................................ Statement of Net Position......................................................................................................................................... Statement of Changes in Net Position.......................................................................................................................

Discretely Presented Component Unit Funds Financial Statements............................................................................ Statement of Net Position......................................................................................................................................... Statement of Activities..............................................................................................................................................

Index of Notes to the Financial Statements....................................................................................................................... Notes to the Financial Statements.................................................................................................................................. Required Supplementary Information Modified Approach for Infrastructure............................................................................................................................. Defined Benefit Plans - State Participating...................................................................................................................... Defined Benefit Other Postemployment Benefits........................................................................................................... Public Employees Insurance Program Development Information................................................................................... Combining and Individual Fund Statements - Nonmajor Funds Nonmajor Special Revenue, Debt Service, Permanent and Capital Projects Funds..................................................... Combining Balance Sheet.......................................................................................................................................... Combining Statement of Revenues, Expenditures and Changes in Fund Balances................................................... Nonmajor Special Revenue Funds................................................................................................................................ Combining Balance Sheet.......................................................................................................................................... Combining Statement of Revenues, Expenditures and Changes in Fund Balances................................................... Combining Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Budgetary Basis...................................................................................................................................................

Note to Nonmajor Appropriated Special Revenue Funds Combining Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual - Budgetary Basis....................................................................

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