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Iowa State Auditor

New (7/2013) Are separate Municipal Utilities required to file annual/periodic examination reports separately from the City and pay a separate audit filing fee, separate annual examination filing fee or separate periodic examination fee?

By Statute, audit and annual examination filing fees are assessed for the filing of each report.

Separate Municipal Utilities may file audit or annual examination reports which are included in or separate from the City's audit or annual examination reports.

When a separate Municipal Utilities files an audit or annual examination report covering only its operations, the separate Municipal Utilities must pay an audit or annual examination filing fee. The City is also required to pay an audit or annual examination filing fee for filing a report covering its operations.

When the separate Municipal Utilities is included in an audit or annual examination report which includes the separate Municipal Utilities and the City, only one filing fee is required to be paid. The allocation of the filing fee between the City and the separate Municipal Utilities is a local decision.

Cities and separate Municipal Utilities subject to periodic examinations should discuss and determine whether they wish to be subject to separate or combined examinations. The periodic examination fee paid annually by the City for examinations of the City and the separate Municipal Utilities may be allocated as locally determined.

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