The Minnesota Governor's Council on Developmental Disabilities
Providing information, education, and training to build knowledge, develop skills, and change attitudes that will lead to increased independence, productivity, self determination, integration and inclusion (IPSII) for people with developmental disabilities and their families.
MNDisability.gov

Business/Organization Requirements and Record Keeping


Starting and building a credible and trustworthy business requires a current knowledge of state and federal laws that apply to many different types of businesses and organizations. It also requires a commitment to comply with those laws.

There are many online resources and consulting services to help with business startup and provide technical assistance with organizational issues that can arise during the lifetime of a business. The responsibility to be well informed about current laws and other requirements, stay updated about changes, and ensure that employees and others who are part of the business operations understand their respective responsibilities rests with the leadership of the business or organization.

The GCDD expects that suppliers who are awarded funds for grant projects and programs are in full compliance with all applicable state and federal laws, and other requirements. This is true regardless of the dollar amount involved, or the type or size of the business. These requirements include a record keeping system that is best suited to the business, and will help monitor and track income and expenses, and other financial and business transactions.

Included in this section are several informational items and resources that may be of assistance to you. They are not intended to be exhaustive or the only items that your particular business or organization needs to be aware of, understand, and apply.

Following are the included items and resources, and a brief description of each:

  1. Office of Management and Budget (OMB) Circular A-87: This circular sets out the principles and standards for determining costs for federal awards that are carried out through grants and other types of agreements with state and local governments, and Indian Tribal governments.

  2. OMB Circular A-133: This circular discusses audits and audit requirements of state and local governmental entities, and nonprofit organizations that receive and expend federal funds.

  3. Federal Regulations – 45 CFR, Subtitle A, Subpart C: These federal regulations address financial management (reporting and accounting), allowable costs, matching funds, budget changes, and audits. These regulations apply to grantees as well as subgrantees (suppliers).

  4. Questions and Answers about Sarbanes-Oxley: This is an overview of Sarbanes-Oxley, a federal law that grew out of the corporate and accounting scandals of Enron, Tyco, and WorldCom. As a result of this law, new rules were established in specific accounting and compliance areas. These rules impact how corporations conduct themselves in these areas and are considered best practices for nonprofits.

  5. Minnesota Department of Revenue: The Department of Revenue web site includes forms and instructions, and online services for business taxpayers.

  6. Nonprofit Law Resource Library: This online resource includes a list of initial business filings for Minnesota nonprofit organizations with complete contact information for each of the state offices where information and forms can be obtained and business filings submitted.

  7. Internal Revenue Service Publication 583: This publication discusses areas related to taxes and record keeping that new business owners need  to know.

  8. Department of Employment and Economic Security (DEED): The DEED web site includes information on starting a business with links to resources for addressing employer issues, business tax issues, financing, and small business assistance. One of the links is to the Minnesota Small Business Resource Guide.

    The Guide includes business resources, financing programs through the Small Business Administration, and a business startup kit.

  9. Minnesota Statute 43A.38: This state law is a code of ethics that applies to employees in the executive branch and affects those who do business with executive branch agencies.

  10. Minnesota Council of NonProfits: The Council provides information and resources about starting a nonprofit in Minnesota.

  11. MAP for Nonprofits: This organization provides management services to nonprofits in the Twin Cities. Services include assistance with strategic planning, financial and operational assessment, and board training.

  12. Business.USA.Gov: This is a business link to the US Government that, in turn, links to business topics in each state.

  13. BuzGate: This web site serves as a portal for small businesses. Frequently Asked Questions(FAQ's) about starting a new business are state specific with links to state offices and resources, and how to find answers to the FAQ's.

©2014 The Minnesota Governor's Council on Developmental Disabilities
 370 Centennial Office Building  658 Cedar Street   St. Paul, Minnesota 55155 
Phone: 651.296.4018   Toll-free number: 877.348.0505   MN Relay Service: 800.627.3529 OR 711   Fax:651.297.7200 
Email: admin.dd@state.mn.us   View Privacy Policy   An Equal Opportunity Employer 

The GCDD is funded under the provisions of P.L. 106-402. The federal law also provides funding to the Minnesota Disability Law Center, the state Protection and Advocacy System, and to the Institute on Community Integration, the state University Center for Excellence. The Minnesota network of programs works to increase the IPSII of people with developmental disabilities and families into community life.