State Auditor Schweich Releases 2010 Transportation Reports

7 years 2 weeks 6 days ago Wednesday, February 29 2012 Feb 29, 2012 Wednesday, February 29, 2012 3:57:00 PM CST February 29, 2012 in News
By: Todd Tumminia

JEFFERSON CITY - State Auditor Tom Schweich today released the 2010 Transportation Development Districts (TDD) report.

As of December 31, 2010, 171 TDD's were in existence, with reported total estimated transportation project costs of over $1.7 billion and reported total anticipated revenues of over $2 billion. The scope of the review included compliance with sales tax remittance and financial statement reporting requirements and related legislative issues.

More than 20 percent of the 171 districts filed financial statements/audit reports with the state auditor's office late or did not file them at all. State law imposes a fine for late report filings but does not designate an agency responsible for assessing and collecting them.

The Missouri Department of Revenue is required by law to collect district taxes, but the law does not provide penalties for non-compliance. Vendors in two districts, Southtown TDD and North Main/Malone TDD, remitted sales tax collections directly to the districts instead of the Department of Revenue.

 

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