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Government/Non-Profit Symposium

Government/Non-Profit Symposium. Presented by: Pamela J. Robinson, CPA Administrator, Public Funds Wyoming Department of Audit [307-777-7798] TOPIC: STATE LAW COMPLIANCE. VOUCHERS.

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Government/Non-Profit Symposium

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  1. Government/Non-Profit Symposium • Presented by: • Pamela J. Robinson, CPA • Administrator, Public Funds • Wyoming 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. Friday, May 17, 2002

  6. 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. Friday, May 17, 2002

  7. 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. Friday, May 17, 2002

  8. Effective January 1, 1995 • Statutory change to W.S. 9-1-507(a)(iii). [amended 2002 legislature] and • Associated Rules, Chapter 4-6. Friday, May 17, 2002

  9. 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). Friday, May 17, 2002

  16. 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 Friday, May 17, 2002

  20. 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. 59 • 0 - $25,000 Proof of Cash. 111 • Not Reporting 154 Friday, May 17, 2002

  22. Types and Numbers of Districts • Airport, JPB or City 12 • Cemetery 41 • Conservancy 2 • Conservation 41 • Downtown Develop. Authority 4 • Drainage 14 • Fire 57 Friday, May 17, 2002

  23. 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 23 • TOTAL DISTRICTS 576 Friday, May 17, 2002

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