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Auditor Fitzpatrick releases closeout report for Wentzville Transportation Development District

05/23/2024 - Jefferson City, MO

State Auditor Scott Fitzpatrick today issued the closeout audit of the Wentzville Transportation Development District (TDD), located in St. Charles County. State law requires an audit of a TDD prior to moving forward with dissolution.

The Wentzville TDD was organized in November 2001 for the purpose of improving the Pearce Boulevard/Wentzville Parkway interchange with new and widened lanes, enhancing the Pearce Boulevard overpass with aesthetic improvements, extending Pearce Boulevard to May Road, and implementing a local transit system. The project was substantially completed in March 2010, and the total cost of the project totaled approximately $6,872,136.

The project was funded by a 0.25 percent sales tax on all taxable transactions within the boundaries of the district. Debt associated with the project was satisfied in November 2022 and the Board of Directors approved rescinding the sales tax in September 2023. Prior to the district's termination, the district, the City of Wentzville and the Missouri Highways and Transportation Commission will enter into an agreement regarding ownership, ongoing maintenance, and allocation of excess revenues.

Based on the audit, the cash balance of the Wentzville TDD as of December 31, 2023, was $876,255. According to the district's legal counsel, as of March 2024, the district would incur an additional $75,000 in legal and administrative expenses related to the dissolution of the district. After the district's final costs and professional fees are paid, the remaining balance will be distributed to the City of Wentzville and/or the Missouri Highways and Transportation Commission in accordance with state law.

The audit determined the financial condition of the Wentzville TDD was such that the Board of Directors may proceed with abolishment of the district.

The complete audit can be found here.