Audit determines Board of Directors can move forward with abolishment

JEFFERSON CITY, Mo. — Missouri State Auditor Nicole Galloway released the closeout audit of the Salt Lick Road Transportation Development District, located in St. Peters. State law requires an audit of a TDD prior to moving forward with dissolution.

The taxing district, established in 2003, was formed for the purpose of improving Salt Lick Road and Veterans Memorial Parkway with the construction of a new intersection and other road improvements in the city. The work was funded by a 1 percent sales tax on all taxable transactions within the boundaries of the district. The project was completed in 2004, and the bond debt was paid off in October 2019.

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.