Municipal Tax Incremental Finance (TIF) Annual Report and Audits

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

TID Annual Report (PE-300)
  • State law requires municipalities with active TIDs to electronically file an annual report for each TID by July 1 to the Wisconsin Department of Revenue
  • If you are not a Clerk or Clerk/Treasurer then you must request access to file this form through My DOR Government Account
  • Reported items include: general information, beginning fiscal balance, revenues, expenditures, future costs, future revenue, and ending fiscal balance
  • Future costs and future revenue are estimates based on the remaining life of the TID. Information may be found in a recent cash flow statement or in the original project plan.
  • 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
  • Municipality must provide each overlying tax jurisdiction a copy of the annual report by July 1

State law:

Certified Public Accountant (CPA) Audits

For Town and Municipal TIDs, CPA audits are required at least three times during the TID's life, no later than 12 months after:

  • 30 percent of total project expenditures
  • End of expenditure period
  • Termination of the district

For Environmental Remediation TIDs created before November 2017, a CPA audit is required at least once during the TID's life, no later than 12 months after:

  • Termination of the district

The CPA must determine if all financial transactions comply with the state law.

State law:


Publications/Information
TIF Manual - TIF reference guide

Certification statement


FOR QUESTIONS OR COMMENTS CONTACT:

MS 6-97
WISCONSIN DEPARTMENT OF REVENUE
Office of Technical and Assessment Services
PO Box 8971
Madison, WI 53708-8971
Phone: (608) 266-7750
Email additional questions to ​tif@wisconsin.gov