JEFFERSON CITY, Mo-- Missouri State Auditor Nicole Galloway today issued monthly reports detailing the compliance of local governments and other political subdivisions with financial reporting laws.
One report includes cities, towns and villages while the other lists political subdivisions such as water, fire protection and other taxing districts. These entities are required to file annual financial reports with the State Auditor's Office within six months of the end of their fiscal year.
These reports include the status of 640 political subdivisions that were required to file by Dec. 31 because their fiscal year ended on June 30. Less than half, a total of 209, failed to file their full annual financial reports on time.
During the previous legislative session, Auditor Galloway worked with a bipartisan group of lawmakers to increase penalties for taxing districts who do not meet with transparency requirement. Entities that fail to file are reported to the Department of Revenue, which is then responsible for notifying the entity and collecting the penalty to be distributed among schools in that area.
These reports also include information on 21 political subdivisions that submitted late financial reports or other related documents to the State Auditor's Office in December.