Auditor Releases TDD Closeout Audit Report

Missouri State Auditor Nicole Galloway Tuesday released the closeout audit of a fund established to pay for the completion of a four-lane highway through northeast Missouri.

The Highway 36-Interstate 72 Corridor Transportation Development District was set up in 2005 to fund construction of the last 52 mile stretch of the four-lane U.S. 36 in Macon, Marion, Monroe and Shelby counties.

The TDD fund paid for the project through a loan agreement to be repaid by a half-cent sales tax on retail sales within the district.

The highway was completed in 2010 and the loan was repaid in July of 2017.

The audit determined that there was money left in the fund to pay the remaining costs of closing out the district and authorized the district Board of Directors to proceed with the dissolution of the district.