Tax Increment Financing (TIF) districts are becoming a more common tool for attracting businesses and improving infrastructure for local governments, big and small. As a result of their rising popularity, these districts are also coming under more scrutiny than ever before.
TIF District Accounting
We have extensive experience working with municipalities and their TIF districts, and have a clear understanding of the various reporting requirements for TIF districts. We assist TIF districts in a number of areas, including:
- Preparation of the annual financial report filed with the Comptroller of the State of Illinois.
- Providing an opinion on compliance with the Illinois Tax Increment Allocation Redevelopment Act.
- Providing an opinion on internal control over financial reporting, and on compliance and other matters, based on an audit of the financial statements done in conjunction with the financial statement audit.
- Assistance with the determination of eligible uses of TIF funds.