JEFFERSON CITY, MO (Oct. 23 2015) Missouri State Auditor Nicole Galloway has released an audit of the Fenton Crossing Transportation Development District in St. Louis County. The transportation development district was created in 2000 to oversee traffic improvements to Route 141 in Fenton, and the audit was conducted in advance of the district’s proposed abolishment.
In Missouri, a transportation development district may be created to assist in development, improvement, maintenance and operations for transportation projects. When a transportation development district’s duties have been completed, and upon approval of the voters, the district may begin the process of closing; however, Missouri law requires the auditor’s office to first conduct an audit to determine the financial status of the district.
The audit found the district’s financial condition to be acceptable for closing. The district has no remaining financial obligations or outstanding bonds. The district does have an accumulated cash balance of nearly $450,000 that must be turned over to the city and/or the Missouri Department of Transportation, as appropriate, upon its abolishment.
The complete report of the Fenton Crossing Transportation Development District is available here.
