Inside208

State Treasury Audit and Financial Reporting Extension Option

Posted on April 1, 2020 by chackbarth

The Michigan Department of Treasury sent the following reminder yesterday to local units of government that may need to request filing extensions for any upcoming F-65 audit or other fiscal year-end filing requirements…

The Uniform Budgeting and Accounting Act (Public Act 2 of 1968 ) and the Revised Municipal Finance Act (Public Act 34 of 2001) requires a local unit to submit audited financial statements, Annual Financial Reports (F65), and Qualifying Statements (Form 5047) within six months of their fiscal year-end. 

If local units are having trouble completing these required reports by the statutory deadline, Numbered Letter 2001-1 outlines the process for filing audit/f65 extensions. If a local unit would like to file a 30-day extension, please use these guidelines we have attached for your convenience. Receiving an audit/F65 extension automatically extends the Qualifying Statement due date for the same period of time

If you have any questions, please e-mail TreasLocalGov@michigan.gov for further assistance.

Chris Hackbarth is the League’s director of state & federal affairs. He can be reached at 517-908-0304 and chackbarth@mml.org.

Locations
Headquarters
1675 Green Road,
Ann Arbor MI 48105
 
Capitol Office
208 N. Capitol Ave.,
1st Floor Lansing, MI 48933
©2022 Michigan Municipal League LLC. All rights reserved