021-3 Wyo. Code R. § 3-3
(a) Using the reports required under this Chapter as a basis for assessment, and using the greater of total revenue or total expenditures, there shall be two levels of risk assessment for entities subject to this Chapter, as follows:
Level A - $100,000 or more
Level B - Under $100,000
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.
(b) Level A is the highest risk assessment and requires the highest level of supervision and oversight. Level B is the lowest level of risk assessment and requires the lowest level of supervision and oversight.
(c) An entity classified at Level A shall have a self-audit procedure performed by an official not involved in the daily transactions of the entity, or by an independent third party under the direction of such officials. In addition, the officials shall complete a self assessment of internal control procedures and an independent third party shall perform bank reconciliation. The procedures shall be documented on the form entitled Local Government Annual Report Summary attached to these rules as Appendix A. Documentation of all procedures performed shall be made and retained.
(d) An entity classified at Level B shall have a bank reconciliation made by an independent third party. Documentation of the procedures followed in performing the reconciliation shall be made and retained. The officials of the entity shall certify that, to the best of their knowledge, the reconciliation was performed in accordance with the documented procedures, and a report made to the director of the department of audit.
021-3 Wyo. Code R. § 3-3