Municipal Tax Incremental Finance (TIF) Audits and Annual Report

When a municipality creates a Tax Incremental District (TID), state law requires the below audits and annual report.

FormName/Description
TID Annual Report (PE-300)
  • State law requires municipalities with active TIDs to electronically submit an Annual Report for each TID by July 1 to the Department of Revenue
  • Reported items capturing the annual activity, include: general information, beginning fiscal balance, revenues, expenditures, future costs, future revenue, and ending fiscal balance
  • A standing Joint Review Board must meet by July 1 (or when the report is available) to review each TID's annual report, performance, and status
  • The Municipality must submit the Annual Report to each overlying tax jurisdiction by July 1
Sample Audit ReportC.P.A. certified audits are required at least three times during the life of the TID, no later than 12 months after:
  • 30% of project expenditures
  • The end of expenditure period
  • Termination of the district

Publications/Information
City/Village Tax Incremental Finance ManualTIF reference guide
Annual Report Form InstructionsGeneral TID Annual Report information

FOR MORE INFORMATION PLEASE CONTACT:

MS 6-97
WISCONSIN DEPARTMENT OF REVENUE
Office of Technical and Assessment Services
PO Box 8971
Madison, WI 53708-8971
Phone: (608) 261-5335 or (608) 266-5708
Email additional questions to ​tif@wisconsin.gov

January 17, 2018