Internal Controls Certification for For-Profit Business Entities
Per Minnesota Statute 16B.981, subdivision 2, paragraph 3, Minnesota Housing is required to review financial documentation for for-profit business entities requesting grant awards of $50,000 or more. If your organization has not been in existence long enough to have filed a tax return with the IRS, you are required to submit this Certification of Internal Controls in the place of those documents.
1.	Explain why your organization is exempt from filing a tax return with the IRS.
	     
2.	Provide a narrative explanation documenting how your organization addresses internal controls.
	     
Examples of internal controls, policies, and practices include but are not limited to:
•	Cash receipt and disbursement processing, including signing/approval authority
•	Payroll processing, including staff recording of time worked and supervisory review/approval of time worked
•	Bank account reconciliation
•	Procurement and contracting
•	Subgrantee selection, oversight, and monitoring
•	Separation of duties
•	Risk mitigation strategies
•	Other related items
Certification
NOTE: This form can be signed digitally, electronically or via wet signature. 
By signing below, I certify I am an authorized representative or am otherwise authorized to sign contracts, financial documents, and legal documents on behalf of the organization. I also certify that the information contained in this document is true, correct, reliable, and complete.
I acknowledge that the submission of inaccurate or misleading information may be grounds for disqualification from a funding recommendation or award and may subject both me and my organization to suspension or debarment proceedings, as well as other remedies available to the State, by law.
     
Potential Grantee Name
     	     
Authorized Signer Signature	Date
     	     
Authorized Signer Printed Name	Title