Friday, May 17, 2002 1

Government/Non-Profit Symposium

Presented by:Pamela J. Robinson, CPAAdministrator, Public FundsWyoming Department of Audit [307-777-7798]

TOPIC:STATE LAW COMPLIANCE

Friday, May 17, 2002 2

VOUCHERS

Vouchers must be prepared for expenditures of the District, or each receipt should be stamped with a perjury statement and the employee who made the purchase should sign and date the statement. (Wyoming Constitution: Article 16, Section 7)

Friday, May 17, 2002 3

Vouchers - Continued

A perjury statement should read:Certification. I hereby certify, under

penalty of perjury, that this receipt, invoice, or statement, and the items included herein for payment, are correct and just in all respects.

Signed: _____________ Date: ______

Friday, May 17, 2002 4

Vouchers - Continued

Each voucher must be approved by the Board and recorded in the District minutes. No money should be paid to anyone without a voucher completed and signed.

Friday, May 17, 2002 5

Donations

Donations are not allowed. (Wyoming Constitution: Article 16, Section 6)

Payments of public money must be for a good or service provided to the entity.

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Budget Requirements

Districts must provide proof of budget hearing to the Department of Audit. (W.S. 16-4-109(b)).

Reminders we send out:Budget Publications – to all districts, in

June.

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February 1994

Public Funds Implemented Rules for Local Government Reporting, Chapter 1-3.This includes County Treasurer, County

Clerk, City/Town, and Special Purpose District census reporting, certifications of report, Self Audit procedures for all entities with revenue greater than $100,000 if not audited or reviewed by CPA.

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Effective January 1, 1995

Statutory change to W.S. 9-1-507(a)(iii). [amended 2002 legislature]

and

Associated Rules, Chapter 4-6.

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Effective March 1, 1995Required Reports (Modified in 2002)

Applies to Special Districts only.Less than $25,000 – Census report only.$25,000 – $100,000 – Census Report, plus

- Proof of cash by independent 3rd party.$100,000 – $300,000 - Census report, plus

- Proof of cash and self assessment of internal controls.

Friday, May 17, 2002 10

Required Reports - Continued

$300,000 - $1Million – Census Report, plus review level engagement from CPA, plus limited compliance procedures listed in rules.

Over $1Million –Census Report, plus CPA Audit.

Friday, May 17, 2002 11

New Law – Enforcement Authority (W.S. 9-1-507(j))

Sept 30 – Census Reports due. (We will send reminders in mid-September.).Oct 5 – We notify Districts and County Commissioners which Districts did not report.Nov 30 – We notify CC, Districts, County Clerk & County Treasurer of those still not in compliance. CC places public notice in paper of Districts in Danger of being dissolved. Co. Treasurer withholds any further distribution of money.

Friday, May 17, 2002 12

Enforcement Authority – Continued

Dec 30 – County Commissioners will proceed to dissolve the District. (W.S. 22-29-401(b) and 22-29-408)

Friday, May 17, 2002 13

Bonding

Requirements vary – check your type of District’s authorizing statutes.

All must be bonded if you get money from the County Treasurer (W.S. 38-2-101 and 106)

Friday, May 17, 2002 14

Banking Requirements

Approve Depository annually in financial institution (No Credit Unions) (W.S. 9-4-817).

Have bank agree to pledge assets (9-4-806).Do Annually. (or 30 days after designated

as official depository).Or when bank changes its name.

Friday, May 17, 2002 15

Banking Requirements (Continued)

Pledging must follow W.S. 9-4-821 for types of assets used.

Banks must provide Joint Custody Receipts when deposits exceed $100,000 FDIC coverage. (W.S. 9-4-825 through 9-4-828).

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Statement of Investment Policy (W.S. 9-4-831(h))

At least as restrictive with respect to types of authorized investments in the statute.

Policy is read and signed by authorized person.

Authorized person agrees to invest money based on the policy.

Does not include deposits in financial institutions.

Friday, May 17, 2002 17

Authorized Investments W.S. 9-4-831

U.S. Treasury bills, Notes, Bonds

Bonds, Notes etc. guaranteed by any Federal Agency.

Mortgage backed securities, obligations of or guaranteed by United States, agencies or instrumentalities.

Friday, May 17, 2002 18

Authorized Investments Continued

CD’s of Wyoming Banks to extent they are fully secured by FDIC or secured by a pledge of assets.

Others – Read statutes.

Friday, May 17, 2002 19

Special District Filings for FY2001

Census Reports 426

Proof of Cash 188

Self Audits 26

Internal Controls 28

Bank Reconciliation 3

Annual Report Summary 305

Budget Hearing Notice 244

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Special Districts Filed for FY2001

$ 1 Million CPA Audits. 42$300,000 – 1 Million CPA Review. 61 With Compliance Requirements.$100,000 - $300,000 Proof of Cash & 86 Self Assessment of Internal Controls.

Friday, May 17, 2002 21

Special Districts Filed for FY2001 - Continued

$50,000 - $100,000 Proof of Cash. 64$25,000 - $50,000 Proof of Cash. 590 - $25,000 Proof of Cash. 111Not Reporting 154

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Types and Numbers of Districts

Airport, JPB or City 12

Cemetery 41

Conservancy 2

Conservation 41

Downtown Develop. Authority 4

Drainage 14

Fire 57

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Districts - Continued

Improvement & Service 107

Irrigation 53

Joint Powers Board 64

Medical 19

Miscellaneous 0

Museum 4

Predatory Animal 23

Friday, May 17, 2002 24

Districts - Continued

Recreation 27

Schools, BOCES 8

Solid Waste 13

Water & Sewer 64

Weed & Pest 23TOTAL DISTRICTS 576