Missouri State Auditor Nicole Galloway today issued monthly reports detailing the compliance of local governments and other political subdivisions with financial reporting laws.
One report includes cities, towns and villages while the other lists political subdivisions such as water, fire protection and taxing districts. These entities are required to file annual financial reports with the State Auditor's Office within six months of the end of their fiscal year.
Five cities, five villages and 12 political subdivisions were required to file by August 31. Four local governments and four political subdivisions failed to file financial reports by the deadline.
Legislation that went into effect on Aug. 28 ensures penalty provisions exist for local governments and political subdivisions that fail to submit required annual financial reports. Entities that fail to file are reported to the Department of Revenue, which is then responsible for notifying the entity and collecting the penalty to be distributed among schools in that area.