Auditor Galloway releases closeout report for Big Bend TDD
Missouri State Auditor Nicole Galloway today released the closeout audit of the Big Bend Transportation Development District (TDD), located in St. Louis County. State law requires an audit of a TDD prior to moving forward with dissolution.
The taxing district, established in 2001, was formed for the purpose of improving Big Bend Boulevard with the construction of new traffic signals, new lanes and other road improvements in the city of Crestwood. The work was funded by a 1/4 of 1 percent sales tax on all taxable transactions within the boundaries of the district. The project was completed in 2002, and the bond debt was paid off in January 2020.
The audit determined the financial condition of the TDD was such that the Board of Directors may proceed with abolishment of the district. The audit identified no significant noncompliance with legal provisions, and identified no significant deficiencies in management practices and procedures.
The complete audit can be found here.
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