Wyo. Code R. 021-0005-4
Effective Date: 01/04/2023 to Current
Rule Type: Current Rules & Regulations
Reference Number: 021.0005.4.01042023
Section 1. Application. These rules apply to all special districts having authority to levy taxes or impose assessments, or receiving funds from special districts, municipalities, or towns. Sections 2 and 3 apply to those special districts listed in Wyoming Statute 16-12-202(a) where the principal act governing those entities are silent or unclear on submission of budgets. The specific provisions of a principal act are effective or controlling to the extent they conflict with these rules. Sections 2 and 3 do not apply to special districts created by and subject to administration by the courts. The Department shall provide forms, guidance, and direction for special districts requesting assistance.
(a) The reporting entity shall comply with the electronic budget form and associated instructions found on the Department of Audit, Public Funds website. The format shall include at least a budget message, budget summary, statements of cash available, revenue forecasts, expenditure plan, names of board members and end date of their term, location of where the minutes of board meetings are available for public review, a description of how and where notices of meetings are posted for the public, and the location of public meetings. The Director shall provide specific instructions for completion of the online budget reporting form. The reporting entity shall submit electronically the proposed electronic budget form and the date of the budget hearing to the Department and the county clerk of the county where the special district is located. The reporting entity shall also submit electronically the adopted (final) electronic budget form, the date of the budget hearing, and the date of the budget approval to the Department and the county clerk of the county where the special district is located;
(b) If a special district or other specified entity operates in multiple counties, the special district or other specified entity has the option to either post the proposed budget conspicuously on its website or file the proposed budget with each county clerk of the counties in which the special district or other specified entity operates;
(c) Each special district shall submit to the Department and respective county clerk(s) one budget for the entire entity, regardless of the number of funds used by the entity.
(a) The proposed budget shall be filed electronically with the Department and to the county clerk of the county where the special district is located by June 1st of each year;
(b) The adopted budget shall be filed electronically with the Department and to the county clerk of the county where the special district is located by July 31st of each year;
(c) For the public meeting(s) where the district reviews and considers its budget, the district shall submit to the Department proof of publication of the public notice.
Section 4. Use of Annual Census Report Information. To avoid duplication of effort, the annual census report currently being filed with the federal bureau of the census, or with the Department, by all entities required to report to the Department, shall be utilized by the Department to the extent possible to obtain the required revenue, expenditure, and financial activity information. The Department shall seek approval from the appropriate federal authority for modification of the annual census report form, if necessary, to provide the information required by the Department. However, refusal of the federal authority to modify the census report form shall not alter the obligation of the reporting entity to provide the Department with the required information.
(a) The census report form to be used is the Survey of Local Government Finances. Single purpose special districts shall use the online form F-32, and multi-purpose districts shall complete and return the census form for major special agencies, the online form F-66-WY4.
(b) If the Director requires additional or supplemental information, the Department shall provide the necessary forms for uniform reporting.
(a) It is recognized the reported census financial data may not always agree with audited financial statements or with accounting entries made in accordance with Generally Accepted Accounting Principles (GAAP);
(b) The Director shall provide specific instructions for completion of each reporting form to ensure financial data reported to the Department is uniformly identified, grouped, and reported. The reporting entity shall comply with the Director's instructions, even though compliance requires modification of internal accounting programs, procedures, or reports. The Department shall provide information and assistance to the reporting entities.
Section 7. Deadline for Filing Census Reports. The required census reports shall be submitted online to the Department by September 30 for the prior fiscal year.
Section 8. Risk Assessment. The entities, whose financial accounts and records are subject to supervision by the Director, shall be classified according to their relative risk assessment. The higher of the total revenues received, or total expenditures made, by the district during the fiscal year under review, subject to the limitations set forth in W.S. 9-1-507 (a)(iii)(A-D), shall determine the level of risk assessment. The level of risk assessment shall determine the type of oversight or supervision required of the entity, unless special audit requirements imposed by other state or federal laws, rules, regulations, contracts, or agreements require a different type or level of oversight or supervision. The level of risk assessment for each entity shall be determined each fiscal year.
(a) Using the required reports as a basis for assessment and depending upon the higher of the total revenues received, or total-expenditures made, by the district during the fiscal year under review subject to the limitations set forth in W.S. 9-1-507(a)(iii)(A-D), there shall be a total of five levels for special districts. There are three levels with oversight prescribed in the statutes and two additional levels between $100,000 and $1,000,000 for special districts, with oversight as defined in these rules. The complete list is as follows:
(b) Level A is the highest risk assessment level and requires the highest level of supervision and oversight. Level E is the lowest level of risk assessment and requires the lowest level of supervision and oversight.
(c) Federal and state grants shall be included in revenues for the fiscal year in which the grant is received, for purposes of determining the assessed level of risk.
(d) An entity classified at Level A shall have a CPA audit in accordance with Government Auditing Standards. Any management letter or other written correspondence submitted to the audited entity regarding the results of the audit shall also be submitted to the Department as an accompaniment to the auditor's report.
(e) An entity classified at Level B shall have a review level engagement, or a higher level of audit service, such as an audit, at the special district's option, as well as other procedures which may be required or approved by the Director and are identified prior to the commencement of the engagement. Any management letter or other written correspondence submitted to the reviewed/audited entity regarding the results of the review/audit shall also be submitted to the Department as an accompaniment to the auditor's report.
(f) An entity classified at Level C shall have an internal control evaluation and a self-audit and a proof of cash and shall submit them to the Department.
(g) An entity classified at Level D shall have a proof of cash and shall submit it to the Department.
(h) An entity classified as Level E shall provide documentation as stated in Section 9(i).
(i) All entities, regardless of risk level, shall submit an annual report summary to the Department.
Section 10. Procedures Required Annually. Each entity is required to perform the level of procedures required for their respective risk level, or a greater level of assurance (at their option) at the close of each fiscal year. Completion of the procedures performed shall be certified under oath by the officials of the entity on the annual report summary. The annual report summary shall be filed with the Department no later than September 30th for the prior fiscal year being reported. The annual report summary form is available on the Department of Audit, Public Funds website.
Section 11. Certification. Each annual report summary shall contain a certificate, signed by the appointed or elected chairman or president and the treasurer of the special district. The certificate shall verify under oath that, to the best of their knowledge, the information contained in the census report and the risk level procedures performed is a true, accurate, and complete presentation of the financial activities of the reporting entity.
Section 12. Deadline For Filing Additional Procedures. All applicable reporting shall be due to the Department based on risk level assessment.
(a) Additional procedures for risk levels A and B are due to the Department by December 31st for the prior fiscal year being reported. A copy of the contract for or engagement letter with an independent auditor for a CPA Audit or Review is due to the Department by September 30th for the prior fiscal year being reported.
(b) Additional procedures for risk levels C through E are due to the Department by September 30th for the prior fiscal year being reported.
(c) The annual report summary is due, regardless of the entity's risk assessment level, to the Department by September 30th for the prior fiscal year being reported.