JEFFERSON CITY, MO – Missouri State Auditor Nicole Galloway yesterday said her office has started work on a review of incentives as a part of the comprehensive audit of the City of St. Louis. The review will examine the administration of various incentives administered by city offices.
“Incentives can serve as valuable economic development tools, but in my discussions within the community, I have heard concerns about transparency and accountability when these programs are utilized,” Audit Galloway said. “A thorough, independent examination will provide a clearer understanding of the processes used to award, monitor and manage these programs and taxing districts.”
The audit will include an overall review of how the city manages tax abatement and tax increment financing, which will also include the St. Louis Development Corporation. Auditors will also look at the city’s monitoring of special taxing districts, such as Community Improvement Districts and Transportation Development Districts.
In late January, Auditor Galloway accepted the request by the Board of Aldermen to complete a comprehensive, independent audit of the City of St. Louis. At the same time, an active group of St. Louis residents were involved in a petition drive to require such an audit.
Auditor Galloway also recently launched a series of follow-up reports to the 2010 audit of the city and an audit of the Supply Division.
Auditor Galloway has pledged to approach the review as a citizen-initiated audit and is working to engage citizens in the process. Citizens can visit auditor.mo.gov/STLAudit for more information about the audit and to submit concerns. Auditor Galloway has also been meeting with elected officials and community leaders to discuss the audit.
SOURCE: news provided by AUDITOR.MO.GOV on May 22, 2018