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 before moving forward with dissolution.
The Wentzville TDD was organized in November 2001 to improve the Pearce Boulevard/Wentzville Parkway interchange with new and widened lanes, enhance the Pearce Boulevard overpass with aesthetic improvements, extend Pearce Boulevard to May Road, and implement a local transit system. The project was substantially completed in March 2010, with a total cost of approximately $6,872,136.
The project was funded by a 0.25 percent sales tax on all taxable transactions within the district’s boundaries. Debt associated with the project was satisfied in November 2022, and the Board of Directors approved rescinding the sales tax in September 2023. Before 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.
As of December 31, 2023, the Wentzville TDD’s cash balance 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. 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 that the Wentzville TDD’s financial condition allows the Board of Directors to proceed with the district’s abolishment.
The complete audit can be found here.
