On the agenda: Converse County meeting — data center (Mar 17)

CONVERSE COUNTY COMMISSION
MEETING
March 17, 2026 - 8:00 a.m. to 5:00 p.m.
107 N. 5TH STREET, SUITE 114, DOUGLAS, WY 82633
Commission Chambers are OPEN to the public.
1.

8:00 A.M. CONVENE, PLEDGE OF ALLEGIANCE
CONVERSE COUNTY COMMISSIONERS:
James H. Willox, Chairman
Richard C. Grant, Vice Chairman
Robert G. Short, Board Member
Trent Kaufman, Board Member
Donald Blackburn, Board Member

2.

8:15 A.M. DEPARTMENT UPDATES - ROAD & BRIDGE
Jason Wilkinson, R&B Superintendent; Todd Mattson, HDR Engineering Inc.

3.

9:15 A.M. DEPARTMENT UPDATES - HUMAN RESOURCES
Kristin Watson, HR Director

4.

10:30 A.M. UPDATES - OUTDOOR ENTHUSIASTS OF CONVERSE COUNTY
OECC Board Members
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5.

Discussion of Recreation Opportunities Within Converse County

11:00 A.M. FY2025 CONVERSE COUNTY FINANCIAL STATEMENT
Erin Graham, CPA, PMCH (Porter, Muirhead, Cornia & Howard)
Documents:
CONVERSE COUNTY FINAL FINANCIAL 2025.PDF

6.

12:00 P.M. RECESS FOR LUNCH

7.

1:00 P.M. DEPARTMENT UPDATES - PUBLIC HEALTH
Darcey Cowardin, Public Health Nurse Manager

8.

1:30 P.M. ENERGY & NATURAL RESOURCES UPDATES
Dru Palmer, Dru Consulting

9.

2:30 P.M. WORK SESSION - TECHNICAL SERVICES
Chris Caskey, Technical Services Director
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County Surveyor Position
Commissioner Camera System
Additional Time Clocks/Kiosks

10. GENERAL COUNTY BUSINESS & ACTION ITEMS

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County Surveyor Position
Commissioner Camera System
Additional Time Clocks/Kiosks

10. GENERAL COUNTY BUSINESS & ACTION ITEMS
Meeting Minutes, Monthly Warrants, Monthly Reports, Tax Refunds & Cancellations, Void
Warrants, Resolutions, Agreements/Amendments, etc.
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Commission Minutes, March 3 & 4, 2026

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FY2025 Converse County Financial Statement (Audit)

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Grant Agreement, Wyoming State Parks & Cultural Resources - Converse County,
Semiquincentennial Celebration

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Wyoming Gaming Commission Responsible Gambling Behavior Funding Invoice

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Resolution 02-26, Designation of 2026 Election Districts

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Memorandums of Understanding for 2026 Polling Locations, Converse County CCSD#1, Glenrock Rec Center, and Dry Creek Community Hall

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Temporary Construction Permit, US Forest Service - Converse County, Jenne Trail
Phase 3 Reconstruction Project

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Bore Permit, Bridger Pipeline LLC, CR60-Esau Road

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Deer Creek Muzzleloaders, Request for Variance from 2026 Fire Ban

Documents:
03.03.2026 OFFICIAL.PDF
CONVERSE COUNTY FINAL FINANCIAL 2025.PDF
SEMIQUINCENTENNIAL GRANT CONTRACT, WY STATE PARKS - CONVERSE
COUNTY.PDF
RESPONSIBLE GAMBLING FUNDS - ALL DOCS.PDF
02-26 DESIGNATION OF 2026 ELECTION DISTRICTS, PRECINCTS, POLLING
PLACES.PDF
2026 CONVERSE-CCSD1 POLLING PLACE MOU.PDF
2026 CONVERSE-GLENROCK REC MOU POLLING PLACE.PDF
2026 CONVERSE-DRY CREEK MOU POLLING PLACE.PDF
USFS TEMP USE PERMIT JENNE TRAIL PH 3.PDF
BORE PERMIT, BRIDGER PIPELINE CR60-ESAU RD.PDF
DEER CREEK MUZZLE LOADER VARIANCE REQUEST.PDF
11. OTHER UPCOMING EVENTS
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Mar 11, by Midnight - 2026 Legislative Session Adjourns

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Mar 17, 8a-5p - Commissioner Meeting (3rd Tues of each month)

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Mar 17, 3p - Planning & Zoning Commission Meeting (3rd Tuesday of each month)

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Mar 19, 9a - CCJJC Joint Powers Board Meeting (3rd Thursday of each month)

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April 3, 5p - Deadline for FY2027 Community Service Grant Applications

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April 7&8, 8a-5p - Commissioner Meeting (1st Tues/Wed of each month)

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April 7, 7-8a - Elected Officials Breakfast Meeting (MHCC Boardroom)

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April 8, 7-8a - City/County Breakfast Meeting (MHCC Boardroom)

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April 16, 9a - CCJJC Joint Powers Board Meeting (3rd Thurs of each month)

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April 21, 8a-5p - Commissioner Meeting (3rd Tues of each month)

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April 21, 3p - Planning & Zoning Commission Meeting (3rd Tues of each month)

This agenda is subject to change at any time without notice. The Board may recess into Executive
Session, if necessary, at any time. Previous versions of this agenda are available on this website
at all times. A regular meeting will be held on Tuesday and Wednesday, April 7 and 8, 2026 at

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April 21, 8a-5p - Commissioner Meeting (3rd Tues of each month)

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April 21, 3p - Planning & Zoning Commission Meeting (3rd Tues of each month)

This agenda is subject to change at any time without notice. The Board may recess into Executive
Session, if necessary, at any time. Previous versions of this agenda are available on this website
at all times. A regular meeting will be held on Tuesday and Wednesday, April 7 and 8, 2026 at
8:00 a.m. unless otherwise posted. at the Converse County Courthouse within Commission
Chambers, 107 N. 5th Street, Douglas, Wyoming. The public is invited to attend any
Commissioner meeting. To get on the agenda, contact the County Clerk via email or by calling
307-358-2244 by the Thursday prior to the meeting. Per W.S. §18-3-516(f), access to county
information can be obtained at the County’s official website, www.conversecountywy.gov or by
calling the County Clerk’s Office 307-358-2244.

CONVERSE COUNTY,
WYOMING
Financial Report
June 30, 2025

CONVERSE COUNTY,
WYOMING

Financial Report
June 30, 2025

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Table of Contents
Independent Auditor’s Report…………………………………………………………………………………………………………..…..…………….

1

Management’s Discussion and Analysis (Unaudited)……………………………………………………………………..……...………….

4

Basic Financial Statements………………………………………………………………………………………………………………..…..……………..
Government-Wide Financial Statements
Statement of Net Position…………………………………………………………………………………………………………..…………...…………
Statement of Activities…………………………………………………………………………………………………………………..………...…………
Fund Financial Statements
Balance Sheet - Governmental Funds……………………………………………………………………………………………..………...……..
Reconciliation of the Governmental Funds Balance Sheet to the Statement of Net Position…………………….……
Statement of Revenues, Expenditures, and Changes in Fund Balances of Governmental Funds……………..……...
Reconciliation of the Statement of Revenues, Expenditures, and Changes in Fund Balances of
Governmental Funds to the Statement of Activities………………………………………………………………………………....…...
Statement of Net Position - Proprietary Fund…………………………………………………………………………………………….……
Statement of Revenues, Expenses, and Changes in Fund Net Position - Proprietary Fund………………...…..……….
Statement of Cash Flows - Proprietary Fund………………………………………………………………………………………………..…..
Statement of Fiduciary Net Position - Fiduciary Fund………………………………………………………………..………………..…..
Statement of Changes in Fiduciary Net Position – Fiduciary Fund…………………………………………………………………..
Discretely Presented Component Units Statements
Combining Statement of Net Position………………………………………………………………………………………………………..……
Combining Statement of Activities………………………………………………………………………………...…………………………..…….
Notes to the Financial Statements………………………………………………………………………………………………………………..……....

18
19
20
22
24
25
27
28
29
30
31
32
33
35
37

Required Supplementary Information……………………………………………………………………………………………………..…...…….
Infrastructure Assets Reported Using the Modified Approach (Unaudited)………………………………………………....……...
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual
(Budgetary) - General Fund (Unaudited)…………………………………………………………………………………………..……......……...
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual
(Budgetary) – Joint Justice Center Joint Powers Board (Unaudited)…………………………………………..………..…………….
Schedule of Changes in Net Pension Liability and Related Ratios (Unaudited)…………………………………..…..……………
Schedule of Pension Contributions (Unaudited)…………………………………………………………………………..………..……………..
Notes to the Required Supplementary Information…………………………………………………………………………..…..……….........

80
81

Compliance Section…………………………………………………………………………………………………………………………..…………………....
Report on Internal Control Over Financial Reporting and on Compliance and Other Matters Based on
an Audit of Financial Statements Performed in Accordance with Government Auditing Standards ……..………..…

94

Schedule of Prior Year Audit Findings
Corrective Action Plan

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84
86
87
89
91

95

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INDEPENDENT AUDITOR'S REPORT

Board of County Commissioners
Converse County, Wyoming

Report on the Audit of the Financial Statements

Opinions
We have audited the financial statements of the governmental activities, the aggregate discretely presented
component units, each major fund, and the aggregate remaining fund information of Converse County,
Wyoming, as of and for the year ended June 30, 2025, and the related notes to the financial statements, which
collectively comprise Converse County, Wyoming’s basic financial statements as listed in the table of contents.
In our opinion, based on our audit and the reports of the other auditors, the accompanying financial statements
referred to above present fairly, in all material respects, the respective financial position of the governmental
activities, the aggregate discretely presented component units, each major fund, and the aggregate remaining
fund information of Converse County, Wyoming, as of June 30, 2025, and the respective changes in financial
position, and, where applicable, cash flows thereof for the year then ended in accordance with accounting
principles generally accepted in the United States of America.
We did not audit the financial statements of the Memorial Hospital of Converse County, the Converse County
Weed and Pest Control District, and the Converse County Airport Board, which represents 83 percent, 82
percent, and 98 percent, respectively, of the assets, net position, and revenues of the aggregate discretely
presented component units as of June 30, 2025. Those statements were audited by other auditors whose reports
have been furnished to us, and our opinion, insofar as it relates to the amounts included for the Memorial
Hospital of Converse County, the Converse County Weed and Pest Control District, and the Converse County
Airport Board, is based solely on the reports of the other auditors.

Basis for Opinions
We conducted our audit in accordance with auditing standards generally accepted in the United States of
America (GAAS) and the standards applicable to financial audits contained in Government Auditing Standards
issued by the Comptroller General of the United States (Government Auditing Standards). Our responsibilities
under those standards are further described in the Auditor’s Responsibilities for the Audit of the Financial
Statements section of our report. We are required to be independent of Converse County, Wyoming, and to
meet our other ethical responsibilities, in accordance with the relevant ethical requirements relating to our audit.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our
audit opinions.

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Responsibilities of Management for the Financial Statements
Management is responsible for the preparation and fair presentation of these financial statements in accordance
with accounting principles generally accepted in the United States of America, and for the design,
implementation, and maintenance of internal control relevant to the preparation and fair presentation of
financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, management is required to evaluate whether there are conditions or
events, considered in the aggregate, that raise substantial doubt about the Converse County, Wyoming’s ability
to continue as a going concern for twelve months beyond the financial statement date, including any currently
known information that may raise substantial doubt shortly thereafter.

Auditor’s Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free
from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our
opinions. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a
guarantee that an audit conducted in accordance with GAAS and Government Auditing Standards will always
detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from
fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions,
misrepresentations, or the override of internal control. Misstatements are considered material if there is a
substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a
reasonable user based on the financial statements.
In performing an audit in accordance with GAAS and Government Auditing Standards, we:
• Exercise professional judgement and maintain professional skepticism throughout the audit.
• Identify and assess the risks of material misstatement of the financial statements, whether due to fraud
or error, and design and perform audit procedures responsive to those risks. Such procedures include
examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements.
• Obtain an understanding of internal control relevant to the audit in order to design audit procedures
that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the
effectiveness of the Converse County, Wyoming’s internal control. Accordingly, no such opinion is
expressed.
• Evaluate the appropriateness of accounting policies used and the reasonableness of significant
accounting estimates made by management, as well as evaluate the overall presentation of the financial
statements.
• Conclude whether, in our judgement, there are conditions or events, considered in the aggregate, that
raise substantial doubt about the Converse County, Wyoming’s ability to continue as a going concern
for a reasonable period of time.
We are required to communicate with those charged with governance regarding, among other matters, the
planned scope and timing of the audit, significant audit findings, and certain internal control-related matters
that we identified during the audit.

Required Supplementary Information
Accounting principles generally accepted in the United States of America require that the management’s
discussion and analysis, infrastructure assets reported using the modified approach, budgetary comparison
information, pension schedules, and related ratios, as listed in the table of contents, be presented to supplement
the basic financial statements. Such information is the responsibility of management and, although not a part of
the basic financial statements, is required by the Governmental Accounting Standards Board who considers it to
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be an essential part of financial reporting for placing the basic financial statements in an appropriate
operational, economic, or historical context. We, and other auditors, have applied certain limited procedures to
the required supplementary information in accordance with auditing standards generally accepted in the United
States of America, which consisted of inquiries of management about the methods of preparing the information
and comparing the information for consistency with management’s responses to our inquiries, the basic financial
statements, and other knowledge we obtained during our audit of the basic financial statements. We do not
express an opinion or provide any assurance on the information because the limited procedures do not provide
us with sufficient evidence to express an opinion or provide any assurance.
Other Reporting Required by Government Auditing Standards
In accordance with Government Auditing Standards, we have also issued our report dated March 11, 2026 on
our consideration of Converse County, Wyoming’s internal control over financial reporting and on our tests of its
compliance with certain provisions of laws, regulations, contracts, grant agreements and other matters. The
purpose of that report is solely to describe the scope of our testing on internal control over financial reporting
and compliance and the results of that testing, and not to provide an opinion on the effectiveness of Converse
County, Wyoming’s internal control over financial reporting or on compliance. That report is an integral part of
an audit performed in accordance with Government Auditing Standards and in considering Converse County,
Wyoming’s internal control over financial reporting and compliance.

Casper, Wyoming
March 11, 2026

Porter, Muirhead, Cornia & Howard
Certified Public Accountants

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MANAGEMENT’S
DISCUSSION
AND ANALYSIS

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Converse County, Wyoming
June 30, 2025
Management’s Discussion and Analysis
(Unaudited)

This section of Converse County, Wyoming’s (County) annual financial report presents our discussion and
analysis of financial performance during the fiscal year ended June 30, 2025. The selected financial data
presented was derived from the financial statements of the County, which were audited by Porter, Muirhead,
Cornia and Howard, Certified Public Accountants. The Independent Auditor’s Report, financial statements and
accompanying notes and supplementary information should be read in conjunction with the following
discussion.

Financial Highlights
The County's total assets and deferred outflows of resources exceeded liabilities and deferred inflows of
resources as of June 30, 2025, by $258,487,125 (Net Position). Of this amount $98,576,475 (Unrestricted Net
Position) may be used to meet ongoing obligations, and $153,604,336 is invested in capital assets, net of related
debt.
As of June 30, 2025, the County’s governmental funds reported combined fund balances of $103,236,173.
Unassigned fund balance of the governmental fund balance was $(20,680,385).
The fund balance for the general fund was $61,695,252 as of June 30, 2025, with an unassigned fund balance of
$(33,438,832).

Overview of the Financial Statements
The discussion and analysis are intended to serve as an introduction to the County’s basic financial statements.
In general, the purpose of the financial reporting is to provide external parties that read financial statements
with information that will help them to make decisions or draw conclusions about an entity. These parties do not
always have the same specific objectives. In order to address the needs of as many parties as reasonably
possible the County’s, in accordance with required reporting standards, annual report consists of five
components 1) management’s discussion and analysis (this section); 2) government - wide financial statements;
3) fund financial statements; 4) discretely presented component unit statements and 5) notes to the basic
financial statements. Required Supplementary Information and Supplementary Information are included in
addition to the basic financial statements.

Government-Wide Financial Statements
The focus of the County’s government-wide financial statements is on the overall financial position and activities
of Converse County, Wyoming, similar to the focus of a private sector business. The County’s government-wide
financial statements include the statement of net position and statement of activities. The purpose of the
statement of net position is to report all of the assets held and liabilities owed by the County. The County
reports all of its assets when it acquires ownership over the assets and reports all of its liabilities when they are
incurred. The difference between the County’s total assets, deferred outflows, total liabilities, and deferred
inflows is titled net position and this difference is similar to the owner’s equity presented by a private sector
business. Although the purpose of the County is not to accumulate net position, this amount does indicate the
financial position of the County.
The purpose of the statement of activities is to present all the revenues and expenses of the County. Again, the
items presented on the statement of activities are measured in a manner similar to the approach used by a
private sector business in that revenues are recognized when earned or established criteria are satisfied, and
expenses are reported when incurred by the County.
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Converse County, Wyoming
June 30, 2025
Management’s Discussion and Analysis
(Unaudited)

Government-Wide Financial Statements (Continued)
Revenues are reported even when they may not be collected for several months after the end of the accounting
period and expenses are recorded even though they may not have been paid during the current period.
Although the statement of activities looks different from a private sector business’ income statement, the
statement is different only in format, not substance. Whereas the private sector reports its bottom line as net
income, the County reports an amount described as change in net position, essentially the same thing.
The focus of the statement of activities is on the net cost of various activities provided by the County. The first
column identifies the cost of each of the County’s major functions. Another column identifies the specific
revenues related to the classified governmental functions. The difference between the expenses and revenues
related to specific programs computes the net cost or benefit of the program, which identifies the extent to
which each function of the County draws from general revenues or is self-sufficient through fees,
intergovernmental aid, and other sources of resources.
Both of these government-wide financial statements would distinguish functions of the County that are
principally supported by taxes and intergovernmental revenues (governmental activities) from other functions
that are intended to recover all or in part a portion of their costs through user fees and charges (business-type
activities). All of the County activities are governmental activities.
The government-wide financial statements include not only Converse County itself, (known as the primary
government), but also the following legally separate entities: the Converse County Weed and Pest Control
District, the Converse County Airport Board, the Converse County Library and Foundation, the Memorial Hospital
of Converse County, the Converse County Fair, and the Joint Justice Center Joint Powers Board. The County is
financially accountable for these entities and appoints directors to their boards which require them to be
identified as component units of Converse County, Wyoming. Financial information for these component units is
reported separately from the financial information presented for the primary government itself. Complete
financial statements for the Converse County Weed and Pest Control District, the Converse County Airport
Board, and the Memorial Hospital of Converse County may be obtained from each entity’s administrative offices.
The Converse County Library and Foundation, Joint Justice Center Joint Powers Board, and the Converse County
Fair do not issue separate financial statements.

Fund Financial Statements
The fund financial statements provide more detailed information about the County’s most significant funds, not
the County as a whole. Funds are accounting devices that the County uses to keep track of specific sources of
funding and spending. Except for the General Fund, a specific fund is established to satisfy legal requirements
established by external parties or governmental statutes or regulations. The County establishes other funds to
control and manage money for particular purposes or to show that it is properly using certain resources. The
County’s fund financial statements are divided into three broad categories, governmental funds, proprietary
funds, and fiduciary funds.
Governmental fund financial statements consist of a balance sheet and statement of revenues, expenditures, and
change in fund balances. The statements are prepared on an accounting basis that is significantly different from
those used to prepare the governmental financial statements. All of the County programs are included in the
governmental funds, which focus on how cash and other financial assets can readily be converted to cash flow in
and out in a short period of time. For example, amounts reported on the balance sheet include items such as
cash and receivables collectable within a short period of time, but do not include capital assets such as land and
buildings.
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Converse County, Wyoming
June 30, 2025
Management’s Discussion and Analysis
(Unaudited)

Fund Financial Statements (Continued)
Fund liabilities include amounts that are to be paid in a short period after the end of the fiscal year. The
difference between a fund’s total assets and total liabilities is labeled as the fund balance. The fund balance
generally indicates the amount that can be used to finance next year’s activities. The operating statement for
governmental funds reports only those revenues and expenditures that were collected in cash or paid in cash,
respectively, during the current period or very shortly after the end of the year.
Consequently, the governmental funds statements provide a short-term view that helps determine if there are
more or fewer financial resources to finance the County’s programs. Because this information does not
encompass the long-term focus of the government-wide statements, we provide an analysis of the balance
sheet reconciling the total fund balances to the amount of net position reported in the statement of net
position. Also, there is an analysis of the statement of revenues, expenditures, and changes in fund balances that
reconciles to the change in net position presented in the government-wide statement of activities.
The County presents in separate columns funds that are most significant to the County.
The County uses a proprietary fund to account for its medical insurance activity. A proprietary fund provides the
same type of information as the government-wide financial statements, only in more detail. The proprietary fund
financial statements provide separate information for the Internal Service Fund.
Fiduciary funds are used to account for assets held by the County for the benefit of other parties. Fiduciary funds
are not presented in the government-wide financial statements because the resources of these funds are not
available to finance the County’s activities. However, the financial statements of fiduciary funds are included in
the County’s financial statements because the County is financially accountable for these resources, even though
they belong to other parties.
Notes to the basic financial statements provide additional information that is essential to a full understanding of
data provided in the government-wide and fund statements.
Required Supplementary Information is presented concerning the County’s General Fund and Joint Justice
Center Joint Powers Board budgets. The County adopts an annual budget for all funds. A budgetary comparison
schedule has been provided to demonstrate compliance with this budget. Required Supplementary Information
also includes infrastructure assets reported using the modified approach, schedules of changes in net pension
liability, ratios and pension contributions.

Government–Wide Financial Analysis
As noted earlier, net position may serve over time as a useful indicator of the County’s financial position. The
County’s assets and deferred outflows exceeded liabilities and deferred inflows by $258,487,125. A large portion
of the County’s net position (approximately 60%) reflects its investment in capital assets. The vast majority of
these capital assets are the County’s roads and bridges. These assets are not available for future spending. The
unrestricted net position of $98,576,475 (38%) may be used to meet the County’s ongoing obligations.

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Converse County, Wyoming
June 30, 2025
Management’s Discussion and Analysis
(Unaudited)

Government–Wide Financial Analysis (Continued)
The County’s net position for the governmental activities as of June 30, 2025, was as follows:
ASSETS
Current assets
Capital assets, net of accumulated depreciation
Total assets

2025
$

175,957,293
155,102,305
331,059,598

2024
$

168,088,010
132,326,262
300,414,272

Variance
$

7,869,283
22,776,043
30,645,326

DEFERRED OUTFLOWS OF RESOURCES

2,318,127

3,084,557

(766,430)

LIABILITIES
Current liabilities
Unearned property tax revenue
Due in more than one year
Total liabilities

8,435,246
43,713,954
10,567,174
62,716,374

8,240,101
40,076,773
10,993,848
59,310,722

(195,145)
(3,637,181)
426,674
(3,405,652)

8,678,291
3,495,935
12,174,226

8,705,575
3,921,126
12,626,701

27,284
425,191
452,475

153,604,336
6,306,314
98,576,475
258,487,125

131,107,028
5,630,904
94,823,474
231,561,406

22,497,308
675,410
3,753,001
26,925,719

DEFERRED INFLOWS OF RESOURCES
Unavailable property tax revenue
Pension items
NET POSITION
Net investment in capital assets
Restricted
Unrestricted
Total net position

$

$

$

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Converse County, Wyoming
June 30, 2025
Management’s Discussion and Analysis
(Unaudited)

Government–Wide Financial Analysis (Continued)
The following schedule details the changes in net position for the County’s governmental activities:
Revenues
General
Taxes
Property
Sales
Other
Payments in lieu of taxes
Investment income
Miscellaneous
Program Revenues
Charges for services
Operating grants and
contributions
Capital grants
contributions
Total revenues
Expenses
General government
Public safety
Public safety - Joint Justice
Center
Public works
Health, welfare, and
recreation
Conservation of natural
resources
Total expenses

2025

$ 43,215,263
13,144,994
6,092,369
637,575
5,874,551
113,591

Percentage

2024

Variance

57.7% $ 52,722,358
17.5%
14,092,555
8.1%
4,367,383
0.9%
959,473
7.8%
5,413,975
0.2%
290,432

58.1% $ (9,507,095)
15.6%
(947,561)
4.8%
1,724,986
1.1%
(321,898)
6.0%
460,576
0.3%
(176,841)

3,634,495

4.9%

4,135,405

2,180,886

2.9%

7,298,542

4.6%
0.0%
8.1%

(5,117,656)

65,000
74,958,724

0.1%
100.0%

1,265,540
90,545,663

1.4%
100.0%

(1,200,540)
(15,586,939)

19,879,820
9,505,725

41.4%
19.8%

16,059,795
7,742,618

37.7%
18.2%

3,820,025
1,763,107

2,019,546
14,990,651

4.2%
31.2%

1,782,867
15,683,225

4.2%
36.8%

236,679
(692,574)

1,439,952

3.0%

1,143,169

2.7%

296,783

197,311
48,033,005

0.4%
100.0%

163,514
42,575,188

0.4%
100.0%

33,797
5,457,817

Changes in net position

26,925,719

47,970,475

Net position, beginning of year

231,561,406

183,590,931

$ 258,487,125

$ 231,561,406

Net position, end of year

Percentage

(500,910)

$ (21,044,756)

Financial Analysis of the County’s Funds
The County’s activities are contained in the General, County Roads, Capital Projects, Joint Justice Center Joint
Powers Board, and other non-major special revenue funds. As previously mentioned, the focus of the County’s
governmental funds is to provide information on the near-term inflows, outflows and balances of expendable
resources. At June 30, 2025, the County’s governmental funds reported combined fund balances of
$103,236,173.

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Converse County, Wyoming
June 30, 2025
Management’s Discussion and Analysis
(Unaudited)

Financial Analysis of the County’s Funds (Continued)
The General Fund serves as the County’s primary operating fund. While the County has continued to experience
positive revenue growth, the rate of growth has moderated over the past three fiscal years. Revenues increased
by 39.7% in FY 2023, 29.3% in FY 2024, and 10.7% in FY 2025.
The General Fund began the fiscal year with a balance of approximately $56 million. As of June 30, 2025, the
total fund balance was $61,695,252. The unassigned General Fund balance at year-end was $(33,438,832). The
negative unassigned balance is attributable to unreconciled mineral tax payments.
Mineral tax revenues are collected monthly prior to the annual mill levy being set in August. These revenues will
be reconciled to the approved mill levy in September 2025 (FY 2026).
The County Road Fund is used to account for the construction and maintenance of County roads not financed
through the General Fund. As of June 30, 2025, the County Road Fund reported a fund balance of $24,269,292,
representing a 34.85% decrease from the prior year ending fund balance of $37.3 million in FY 2024.
County road maintenance and construction projects accounted for 88.1% of the County’s total capital outlay in
FY 2025, representing a 76% increase compared to FY 2024. Expenditures totaled approximately $29.4 million in
FY 2025, compared to $16.7 million in FY 2024.
Major capital and infrastructure projects undertaken during the current fiscal year represent a significant
increase of the County’s expenditures. Some of these projects include:


Chalk Buttes Road and Ridgewater Road Reconstruction — The project was budgeted at $7,000,000, with
final expenditures expected to be $7,503,234. The project is expected to be completed in FY 2026.



Boxelder Road Reconstruction – Phase II — Budgeted at $5,602,000, with final expenditures of $4,989,166.
The project was completed in FY 2025.



Colter Trail Paving Project — Budgeted at $1,500,000, with final expenditures expected to be $1,408,661. The
project is expected to be completed in FY 2026.



Jenne Trail Road Reconstruction – Phase II — Budgeted at $13,377,000, with total project costs to date of
$12,765,289. The project is expected to be completed in FY 2026.



Jenne Trail Road Reconstruction – Phase III — Budgeted at $13,377,000, design and planning activities
commenced in FY 2025; however, construction is not anticipated to begin until FY 2026.

Additional notable road projects budgeted in FY 2025 included $1.0 million for maintenance on Windy Ridge,
$1.7 million for gravel on Cold Springs Road, $4.6 million for gravel on Highland Loop, and $2.3 million for
gravel on Twenty Mile Creek Road.
The County received funding under the Congestion Mitigation and Air Quality (CMAQ) program to partially
offset costs associated with projects on Ross Road, Jenne Trail, and Esterbrook Road. The CMAQ program
provides federal funding for transportation projects and programs that contribute to improved air quality. The
County utilizes these funds to reduce fine particulate matter generated from unpaved roads. Total
reimbursements received under this program during FY 2025 amounted to $170,456.
During FY 2025, the County received funding under the federal High Risk Rural Roads (HRRR) grant program to
install an estimated 963 delineator posts along East Antelope, Anderson Dairy Rd, Deer Creek, and Natural
Bridge Rd. The total grant award was $110,509. Of this amount, $75,663 was expended during the fiscal year.
10

Converse County, Wyoming
June 30, 2025
Management’s Discussion and Analysis
(Unaudited)

Financial Analysis of the County’s Funds (Continued)
Grant reimbursements totaled $68,468, with the remaining $7,196 representing the County’s required local
match.
The Capital Projects Fund is used to account for major construction projects throughout the County, which are
financed primarily through transfers from the General Fund. As of June 30, 2025, the Capital Projects Fund
reported a total fund balance of $12,748,391, compared to a prior year balance of $(45,393). During FY 2025,
transfers totaling $15,410,442 were made to fund projects spanning FY 2025 and FY 2026. Significant projects
include the John Lambert Sewer and Water Improvement Project, construction of the Animal Shelter, Natural
Bridge Irrigation Replacement, and renovation of the existing Courthouse.
The Joint Justice Center Joint Powers Board is a blended component unit of the County and is reported as a
special revenue fund. It accounts for the operations of the Converse County Joint Justice Center (CCJJC). The
County holds a 74% ownership interest and is responsible for 74% of the CCJJC’s expenditures, with the City of
Douglas responsible for the remaining 26%.
Total governmental fund revenues for the fiscal year ended June 30, 2025, were approximately $76.4 million,
representing a 15.4% decrease from FY 2024.
The decline in revenues was anticipated. The 2024 tax valuation decreased from a record-setting $4.38 billion in
2023 to $3.56 billion in 2024, resulting in lower property tax revenues. Intergovernmental revenues also declined.
In FY 2023, the County entered into an agreement with Eastern Wyoming College, the City of Douglas, and the
Town of Glenrock for an Economic Development Administration (EDA) grant. Revenues received from these
entities for matching requirements increased reported intergovernmental revenues in FY 2023, creating a higher
comparative base.
The following schedule presents revenues by source.
Revenues
Taxes
Licenses and permits
Intergovernmental revenues
Charges for services
Investment income
Miscellaneous revenues
Total revenues

2025
$ 63,920,512
1,411,446
3,073,363
2,223,049
5,756,995
69,311
$ 76,454,676

Percentage
2024
83.6% $ 73,346,852
1.9%
1,721,601
4.0%
7,329,606
2.9%
2,413,804
7.5%
5,320,301
0.1%
167,916
100.0% $ 90,300,080

Percentage
Variance
81.2% $ (9,426,340)
1.9%
(310,155)
8.1%
(4,256,243)
2.7%
(190,755)
5.9%
436,694
0.2%
(98,605)
100.0% $ (13,845,404)

11

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Converse County, Wyoming
June 30, 2025
Management’s Discussion and Analysis
(Unaudited)

Financial Analysis of the County’s Funds (Continued)

Revenues
Licenses and permits
1.9%
Intergovernmental
revenues 4.0%
Charges for services
2.9%
Investment income
7.5%

Taxes 83.6%

Miscellaneous revenues
0.1%

Total governmental fund expenditures for Fiscal Year 2025 were $70,542,401. Capital outlay and General
Government remained the County’s largest expenditure categories, representing 47.3% and 28.3% of total
governmental fund expenditures, respectively. These expenditures primarily reflect county operations, road
maintenance and construction activities, and capital improvement projects.
Overall governmental fund expenditures increased from $54.6 million in FY 2024 to $70.5 million in FY 2025,
representing an increase of 29.3%. The increase is primarily attributable to expanded road construction and
maintenance efforts, as well as significant capital construction activity undertaken during the fiscal year.
The following schedule presents expenditures by activities.
Expenditures
Current
General government
Public safety
Public works
Health, welfare and
recreation
Conservation of natural
resources
Capital outlay
Total expenditures

2025
$ 19,944,224
10,197,922
5,321,707
1,497,867
195,056
33,385,625
$ 70,542,401

Percentage

2024

Percentage

Variance

28.3% $ 15,929,856
14.5%
8,597,912
7.5%
5,325,231

29.1% $
15.8%
9.8%

4,014,368
1,600,010
(3,524)

2.1%

2.3%

236,409

1,261,458

0.3%
161,920
47.3%
23,298,378
100.0% $ 54,574,755

0.3%
33,136
42.7%
10,087,247
100.0% $ 15,967,646

12

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Converse County, Wyoming
June 30, 2025
Management’s Discussion and Analysis
(Unaudited)

Financial Analysis of the County’s Funds (Continued)

Capital outlay 47.3%

Expenses

Conservation of
natural resources 0.3%
Health, welfare &
recreation 2.1%

Public works 7.5%

General government
28.3%
Public safety 14.5%

As of June 30, 2025, the County reported total reserves of approximately $94 million, representing an increase of
$19.4 million from FY 2024. These reserves are allocated as follows: Operating Reserve — $3.9 million, Building
Reserve — $47.7 million, Equipment Reserve — $11.2 million, Salary Reserve — $4.4 million, Depreciation
Reserve — $1.2 million, Ad Valorem Stabilization Fund — $25.5 million.
The Ad Valorem Stabilization Fund was established in 2023 in response to changes in the collection timing of
mineral taxes. Due to consistent monthly collections, the County did not utilize these reserves during FY 2025,
and no additional contributions were budgeted.
Navajo Transitional Energy Company (NTEC), the purchaser of the North Antelope coal mine, continues to remit
monthly payments toward approximately $8 million in delinquent property taxes resulting from the bankruptcy
of the former owner, Cloud Peak Energy. As of June 30, 2025, the outstanding balance for all tax years was less
than $2 million.

Capital Assets
Capital assets increased by 17.2%, from $132.3 million at June 30, 2024, to $155.1 million at June 30, 2025. The
increase was primarily attributable to growth in infrastructure assets, which increased by 29.1%, and construction
in progress, which increased by 24.9%. These categories accounted for the majority of the overall increase in
capital assets and reflect the County’s continued investment in road improvements and other capital
construction projects during the fiscal year.
13

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Converse County, Wyoming
June 30, 2025
Management’s Discussion and Analysis
(Unaudited)

Capital Assets (Continued)
Significant infrastructure activity during FY 2025 included Phase II & III of the Jenne Trail reconstruction project
and a multi-phase reconstruction of Boxelder Creek Road, which will extend into future fiscal years. Funding
sources include overweight and oversize permit revenues.
Other construction and infrastructure projects included: Ayres Natural Bridge Park Irrigation Replacement
Project, Lambert Subdivision Sewer and Water Improvement Project, Chalk Buttes/Ridgewater Road
Reconstruction Project (design initiated in FY 2024), and Colter Trail Paving Project, the Animal Shelter Expansion
Project, and a Level I and Level II study in preparation for future renovation of the Courthouse.
Capital equipment acquisitions included two police-package Chevrolet Tahoe’s at $54,516 each and one
additional Sheriff’s vehicle at $59,468. The County also purchased two snowplows at $280,000 each. Three
county vehicles were sold via public auction in early 2025 for a total of $38,229.
During FY 2025, the Sheriff’s Department received funding through the Homeland Security Grant Program for
the acquisition of a court security X-ray scanner. The total grant award was $51,622. Eligible expenditures under
the program totaled $51,495, which were reimbursed by the grant.
In January 2025, the County acquired property located at 215 South 4th Street, Glenrock, for $157,000. The
property is intended to house some County offices in the future.
Additional information on Converse County’s capital assets can be found in Note 6.

Debt Administration
At June 30, 2025, the County reported total long-term obligations of $11,567,005, consisting of note obligations,
incurred but not reported claims payable, compensated absences, and net pension liability. The net pension
liability of $9,116,731 represents the County’s proportionate share of the unfunded liability of the State of
Wyoming Retirement System, a cost-sharing, multiple-employer public employee retirement system.
Note obligations include loans issued on behalf of the Conservation District ($250,000), Weed and Pest District
($300,000), and Glenrock Cemetery District ($410,000). Repayment began in December 2023. Each borrowing
entity is required to remit 8% payments to the State of Wyoming. As of June 30, 2025, the Conservation and
Weed and Pest District’s notes were paid in full, with $344,400 remaining outstanding for the Glenrock Cemetery
District.
More information on the County’s long-term debt can be found in Note 8.

14

Converse County, Wyoming
June 30, 2025
Management’s Discussion and Analysis
(Unaudited)

Property Tax
Converse County participated in the property tax refund program for the 2023 tax year. Refund applications
were processed and paid in October 2024. A total of 470 applicants received refunds totaling $236,773, funded
by the General Fund.
Mineral tax payments are received monthly and are based on the prior-year’s mill levies and estimated values.
The reconciliation of mineral taxes for the 2024 tax year (done in FY2025) resulted in an overpayment of
$2,544,042. As of June 30, 2025, 67.6% of the overpayment had been refunded to the taxpayer, with $364,072
remaining payable.
Tax Year 2024 was the first year in which the 4% residential assessment cap established under House Bill 45 was
applied. The legislation limits year-over-year increases in residential property tax valuations. As a result, the
County’s taxable market value was reduced by approximately $12.7 million.

Fiscal Year 2025 Budget
Revenues for FY 2025 were projected to decline from the prior year total of $81.6 million. In anticipation of
reduced collections, the General Fund adopted a budget of $68.7 million. Actual revenues for FY 2025 totaled
$75,506,961, exceeding the budgeted amount.
FY 2025 reflected a decline in assessed valuation from a record $4.3 billion in 2023 to $3.56 billion in 2024.
Despite the reduction in valuation and related revenues, the County expended just over $30.0 million on road
construction and maintenance and transferred $15.4 million to the Capital Projects Fund to support major
construction initiatives, including the Animal Shelter, Courthouse renovation planning, and the John Lambert
Subdivision infrastructure project.
Although the County had significant capital and infrastructure expenditures, the County increased reserve
balances during the fiscal year, budgeting contributions of $1.5 million to the Building and Maintenance Reserve,
$250,000 to the Equipment Reserve, and $250,000 to the Salary Reserve.
During FY 2025, mineral tax reconciliation for the 2024 tax year had no significant impact on the General Fund.
Estimated mineral tax payments totaled $34,403,301, compared to actual reconciled collections of $34,381,175.
Construction of the Cedar Springs IV project began in October 2023. The County received monthly impact
payments of $99,164 from November 2023 through March 2025, totaling approximately $1.69 million. These
funds were utilized in FY 2025 for road repair and maintenance (including Willow Creek Road and Ross Road),
cattle guard replacements, and supplemental law enforcement, ambulance, and fire protection services
associated with project impacts.
The County began receiving opioid settlement distributions from various pharmaceutical manufacturers,
distributors, and pharmacies in FY 2023. For FY 2025, the County budgeted $128,000 in anticipated settlement
revenue; however, actual receipts totaled $142,288, exceeding budgeted expectations.

15

Converse County, Wyoming
June 30, 2025
Management’s Discussion and Analysis
(Unaudited)

Next Year’s Budget and Rates
The County finished Fiscal Year 2025 in good shape, budgeting $68.7 million in revenue and receiving $75.5
million. In the Fiscal Year 2026 budget, the County is anticipating a revenue decrease, budgeting $63.5 million, a
drop of 4.8%, in spite of the overall county valuation bouncing back from a significant decline, increasing from
$3.56 billion to $3.8 billion.
The revenue decrease stems largely from an anticipated drop in oil prices, which averaged $71.39 per barrel in
Fiscal Year 2025 but dropped to $63.36 per barrel in the first half of Fiscal Year 2026. Since oil represents 74% of
the county’s overall value, the drop resulted in a lower revenue projection in spite of the increased certified
value, which represents mineral sales from the prior year.
Expenditures for Fiscal Year 2026 were budgeted 11% higher than FY 2025, rising from $42.6 million to $47.5
million. The increase is attributable to road projects and ongoing capital projects. For example, the County
budgeted $22 million for the reconstruction of Jenne Trail, $2.5 million for improvements on Walker Creek Road,
and $7 million to reconstruct Chalk Buttes Road, just to name a few. Capital projects include the ongoing
construction of the Animal Shelter, a contribution towards the Eastern Wyoming College Trades Addition, and
the purchase of a building in Glenrock that will eventually house county offices. In all, $4.4 million was
transferred from the General Fund to the Capital Construction Fund for projects.
The County also added to reserves, transferring $2.75 million to the Building & Maintenance Reserve, $1 million
to the Equipment Reserve, and $250,000 to the Salary Reserve.

Economic Factors
The County’s future revenues are heavily reliant on mineral production and price, especially oil, which has been
steadily declining in price over the last eighteen months. The price per barrel began calendar year 2025 at $70.45
and ended the year at $57.97. In the most recent six months, it averaged $61.30. Wyoming’s Consensus Revenue
Estimating Group (CREG) is estimating that oil prices will hover between $60 and $70 per barrel between 2025
and 2030, which should result in fairly steady oil revenues for the county.
The resulting monthly mineral payments received from the Department of Revenue reflect these trends. The
County received $37.4 million in mineral payments in Fiscal Year 2025 and has averaged $2.92 million per month
in Fiscal Year 2026, projecting to a total of $34.3 million. If oil prices stabilize as CREG projects, the County’s
revenue should remain fairly stable, between $34 and $39 million, through 2030.
Converse County continues to lead the state in oil production, with 44.4 million barrels produced in Fiscal Year
2025 and a projection of 52 million barrels in Fiscal Year 2026. CREG is estimating stable oil production through
2030, which should mean a stable revenue foundation for the County.
Natural gas valuation peaked in Converse County in 2023, at $610 million, reflecting prices around $7.00 per
million cubic feet (mcf) of gas. The price has dropped drastically since then, averaging $2.48 per mcf in Fiscal
Year 2025 and $3.79 per mcf in Fiscal Year 2026. The result was a $262 million natural gas valuation for tax year
2025. CREG is estimating that natural gas prices in the state will be steady around $4.00 per mcf through 2030.
With stable natural gas production, averaging around 9 million mcf, natural gas revenues should be stable
through 2030.

16

Converse County, Wyoming
June 30, 2025
Management’s Discussion and Analysis
(Unaudited)

Economic Factors (Continued)
Other minerals should also supplement future revenues. Converse County has not had any coal production since
2021, but in August of 2025, the Department of the Interior approved a mining plan that unlocked 14.5 million
tons of federally owned coal at the Antelope Mine, which is operated by Navajo Transitional Energy Company
(NTEC). The decision effectively extends the life of the mine through 2037 and should result in future coal
production in Converse County, likely beginning in 2028. The coal market estimates from CREG are soft,
expecting prices to sag from $14 per ton in 2025 to $13.75 per ton in 2030, so it remains to be seen how much
revenue will result from renewed coal production.
Renewable energy projects in the county, which have been a revenue supplement for the last ten years, have
stalled. Although the Cedar Springs IV wind farm came online in late 2025, other projects that were expected to
begin construction in Fiscal Year 2026 have been pushed back.
The Dutchman Renewable Solar Energy Facility, a $97 million, 4,738-acre solar farm was to begin construction in
late 2025 but has been pushed back to 2027. The Settler Wind Farm, a 13,000-acre, $233 million dollar project
that was projected to begin construction in the second half of 2025 has been postponed until at least November
2027. The Pronghorn Clean Hydrogen & Fuels Project, a $1.7 billion facility to generate hydrogen, became
controversial for its use of state land and has pivoted away from hydrogen towards a wind farm, solar farm and
perhaps a data center. Its construction schedule is now unknown.
While the construction delays are due to many factors, the uncertainty of federal subsidies is certainly playing a
role, after the administration announced in October 2025 that they were canceling $7.6 billion in grants for
renewable projects across the country.
The result of the project delays is that sales tax revenues have been down, especially in sectors representing
industrial projects. In Fiscal Year 2025, the county averaged $7.4 million per month in sales tax collections, with
wholesale sales making up 14% of the total. In Fiscal Year 2026, the county has so far averaged $5.5 million
monthly, with the wholesale sector accounting for 7% of overall collections.
Sales taxes from the mineral sector have also been down, averaging $2.7 million per month in FY 2025 and $1.6
million monthly in FY 2026, a 40% decrease. However, there are signs that new exploration, which drives sales
tax revenues, is picking up in the county. In February 2026, there were 11 drilling rigs in the State of Wyoming,
with 6 operating in Converse County.
Overall, barring unforeseen events like a war in the Middle East, County revenues are expected to remain steady
and solid through 2030.

Conclusion
The above discussion and analysis are presented to provide additional information regarding the activities of the
County and also to meet the disclosure requirements. We believe that all requirements of governmental GAAP
have been met as it applies to the County. This financial report is designed to provide a general overview of the
County’s finances for all those with an interest in the government’s finances. If you have questions about the
report or need additional financial information, contact Converse County’s Treasurer at 107 N 5th Street, Suite
129, Douglas, Wyoming 82633.
Three of the County’s component units issue financial statements. Financial statements can be obtained for the
Memorial Hospital of Converse County, the Converse County Airport Board and the Converse County Weed and
Pest District by contacting each entity directly.
17

BASIC
FINANCIAL
STATEMENTS

18

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Converse County, Wyoming
June 30, 2025
Statement of Net Position

ASSETS
Cash and cash equivalents
Cash held by fiscal agent
Investments
Property and other taxes receivable
Accounts receivable, net $13,679,000 uncollectible
Accrued interest receivable
Due from other governments
Lease receivable, current portion
Inventory
Prepaid items and other assets
Due from primary government
Restricted cash and cash equivalents, noncurrent
Restricted investments, noncurrent
Other assets, noncurrent
Lease receivable, noncurrent
Beneficial interest in assets held by others
Capital assets not being depreciated
Capital assets being depreciated, net of
accumulated depreciation
Total assets
DEFERRED OUTFLOWS OF RESOURCES
Excess of acquisition over consideration
Pension plan items
Total deferred outflows of resources
LIABILITIES
Accounts payable and accrued liabilities
Retainage payable
Due to other governments
Unearned property tax revenue
Noncurrent liabilities
Due within one year
Due in more than one year
Total liabilities
DEFERRED INFLOWS OF RESOURCES
Unavailable property tax revenue
Lease receivable
Pension plan items
Total deferred inflows of resources
NET POSITION
Net investment in capital assets
Restricted by
State statutes (W.S. 24-2-110)
Grantors and others
Voters
Donor - expendable
Donor - nonexpendable
Unrestricted
Total net position

Primary Government
Governmental
Activities

Component Units

$

$

$

37,831,786
115,645,165
16,045,240
172,240
712,945
4,188,201
658,612
703,104
111,879,179

Total
11,226,372
142,800
4,211,864
579,398
36,993,043
6,428
4,118,761
1,404,555
552,784
98,799
14,523,622
278,852
56,816
298,690
15,050,670

43,223,126
331,059,598

53,984,822
143,528,276

2,318,127
2,318,127

46,276,782
155,921
46,432,703

6,690,627
646,372
98,416
43,713,954

16,023,997
-

999,831
10,567,174
62,716,374

10,770,931
29,713,094
56,508,022

8,678,291
3,495,935
12,174,226

1,043,734
61,359
192,275
1,297,368

153,604,336

63,857,798

4,041,572
2,264,742
98,576,475
258,487,125

2,357,524
9,039,668
581,927
56,318,672
132,155,589

$

See accompanying notes to the financial statements

19

Converse County, Wyoming
Year Ended June 30, 2025
Statement of Activities

Function/Programs
Primary government
Governmental activities
General government
Public safety
Public safety - Joint Justice Center
Public works
Health, welfare, and recreation
Conservation of natural resources
Total primary government/
governmental activities
Component units

Charges for
Services

Expenses

Program Revenues
Operating
Grants and
Contributions

Capital
Grants and
Contributions

$ 19,879,820
9,505,725
2,019,546
14,990,651
1,439,952
197,311

$

2,427,818
232,996
765,542
208,139
-

$

1,568,812
109,393
68,822
433,859
-

$

65,000
-

$ 48,033,005

$

3,634,495

$

2,180,886

$

65,000

$ 149,706,229

$ 146,440,105

$

8,877,538

$

4,690,996

General revenues
Property taxes
Sales taxes
Other taxes
Payments in lieu of taxes
Unrestricted investment income
Gain on sale capital assets
Miscellaneous
Total general revenues
Change in net position
Net position, beginning as previously reported
Adoption of GASB 101
Net position, beginning, as restated
Net position, end of year

See accompanying notes to the financial statements

20

Net (Expense) Revenue and
Changes in Net Position
Primary
Government
Governmental
Activities

$

(15,818,190)
(9,163,336)
(1,254,004)
(14,921,829)
(797,954)
(197,311)
(42,152,624)

$

Component Units
Totals

$

-

-

10,302,410

43,215,263
13,144,994
6,092,369
637,575
5,874,551
44,280
69,311
69,078,343

1,333,027
1,322,063
(34,642)
55,512
2,675,960

26,925,719

12,978,370

231,561,406
231,561,406

119,190,104
(12,885)
119,177,219

258,487,125

$ 132,155,589

21

Converse County, Wyoming
June 30, 2025
Balance Sheet - Governmental Funds

ASSETS
Cash and cash equivalents
Investments
Property and other taxes receivable
Accounts receivable, net
Accrued interest receivable
Due from other governments
Due from other funds
Restricted cash and cash equivalents
Inventory
Total assets
LIABILITIES, DEFERRED INFLOWS OF
RESOURCES AND FUND BALANCES
Liabilities
Accounts payable and accrued liabilities
Due to other funds
Due to other governments
Retainage payable
Unearned property tax revenue
Total liabilities

$

$

$

Deferred inflows of resources
Unavailable property tax revenue
Unavailable other revenue
Total deferred inflows of resources
Fund balances
Nonspendable
Inventory
Restricted
Grantors and others
State statutes (W.S. 24-2-110)
Committed
Joint Justice Center Joint Powers Board
Assigned
Unassigned
Total fund balances
Total liabilities, deferred inflows of
resources and fund balances

County
Roads
Fund

General
Fund

$

24,118,461
80,716,562
16,044,936
161,428
497,881
3,259,928
52,180
124,851,376

$

$

Capital
Projects
Fund

8,047,720
18,522,615
114,300
31,981
658,612
27,375,228

$

$

1,483,925
12,478,829
76,530
953
14,040,237

2,604,092
5,525
98,416
43,713,954
46,421,987

2,502,905
13,473
589,558
3,105,936

1,235,032
56,814
1,291,846

15,964,137
770,000
16,734,137

-

-

-

658,612

-

1,140,000
-

4,041,572

-

93,994,084
(33,438,832)

19,569,108
-

12,748,391

61,695,252

24,269,292

12,748,391

124,851,376

$

27,375,228

$

14,040,237

See accompanying notes to the financial statements

22

Joint Justice
Center Joint
Powers Board
$

$

1,298,896
2,105,922
6,504
12,995
113,600
3,537,917

149,947
149,947

$

Total
Nonmajor
Special Revenue
Funds
$

$

$

395,496
304
4,308
437,339
4,768
703,104
1,545,319

29,797
37,950
67,747

Total
Governmental
Funds
$

$

$

35,344,498
113,823,928
16,045,240
172,240
701,706
3,843,801
56,948
703,104
658,612
171,350,077

6,521,773
56,948
98,416
646,372
43,713,954
51,037,463

-

304
342,000
342,304

15,964,441
1,112,000
17,076,441

-

-

658,612

-

1,124,742
-

2,264,742
4,041,572

3,387,970
-

470
10,056

3,387,970
113,563,662
(20,680,385)

3,387,970

1,135,268

103,236,173

3,537,917

$

1,545,319

$

171,350,077

23

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Converse County, Wyoming
June 30, 2025
Reconciliation of the Governmental Funds Balance Sheet to the Statement of Net Position

Amounts reported for governmental activities in the statement of net
position are different because:
Total fund balances - governmental funds

$ 103,236,173

Capital assets, net of accumulated depreciation used in governmental
activities are not financial resources and, therefore, are not reported
in the governmental fund statements. As capital assets used in
governmental activities are purchased or constructed, the costs of
those assets are reported as expenditures in the governmental funds.
This is the total capital assets net of accumulated depreciation
reported in the government-wide statements.
Since the focus of governmental fund statements is on short-term
financing, some assets will not be available to pay for current
expenditures. Those assets are offset by unavailable revenue
in the governmental funds and are not included in the
governmental fund balances.
Difference in unavailable other revenue
Difference in unavailable property tax revenue

155,102,305

$

1,112,000
7,286,150

An internal service fund is used by management to charge the cost
of medical insurance to individual funds. Assets and liabilities of
the internal service fund are included in governmental activities in
the statement of net position.
Differences between expected and actual experiences, assumption changes
and net differences between projected and actual earnings and
contributions subsequent to the measurement date for the
postretirement benefits (pension) are recognized as deferred outflows
of resources and deferred inflows of resources on the statement of
net position.
Pension plan items - deferred outflows of resources
Pension plan items - deferred inflows of resources
Long-term liabilities exceed the amount that is due and payable in the
current period and are not reported in the governmental funds.
Compensated absences
Net pension liability
Lease purchase obligation
Net position of governmental activities

8,398,150

3,790,910

2,318,127
(3,495,935)

(894,277)
(9,116,731)
(851,597)

(1,177,808)

(10,862,605)
$ 258,487,125

See accompanying notes to the financial statements

24

Converse County, Wyoming
Year Ended June 30, 2025
Statement of Revenues, Expenditures, and Changes in Fund Balances of Governmental Funds

Revenues
Taxes
Licenses and permits
Intergovernmental
Charges for services
Investment income
Miscellaneous
Total revenues

County
Roads
Fund

General
Fund
$

63,450,415
1,411,446
1,639,811
1,329,699
4,427,374
67,211
72,325,956

$

470,097
355
1,061,274
1,531,726

Capital
Projects
Fund
$

141,180
141,180

Expenditures
Current
General government
Public safety
Public works
Health, welfare, and recreation
Conservation of natural resources
Capital outlay
Total expenditures

19,853,088
7,742,725
5,284,977
1,318,225
195,056
1,213,481
35,607,552

29,414,306
29,414,306

2,757,838
2,757,838

Excess (deficiency) of revenues
over expenditures

36,718,404

(27,882,580)

(2,616,658)

Other financing sources (uses)
Transfers in
Transfers out
Proceeds from sale of capital assets
Total other financing sources (uses)

439,489
(31,160,161)
44,280
(30,676,392)

14,901,164
14,901,164

15,410,442
15,410,442

Net changes in fund balances

6,042,012

(12,981,416)

12,793,784

Fund balances, beginning of year
Fund balances, end of year

$

55,653,240
61,695,252

$

37,250,708
24,269,292

$

(45,393)
12,748,391

See accompanying notes to the financial statements

25

Joint Justice
Center Joint
Powers Board
$

$

765,542
122,867
888,409

Total
Nonmajor
Special Revenue
Funds
$

1,433,197
127,808
4,300
2,100
1,567,405

Total
Governmental
Funds
$

63,920,512
1,411,446
3,073,363
2,223,049
5,756,995
69,311
76,454,676

2,098,706
2,098,706

91,136
356,491
36,730
179,642
663,999

19,944,224
10,197,922
5,321,707
1,497,867
195,056
33,385,625
70,542,401

(1,210,297)

903,406

5,912,275

1,361,535
1,361,535

1,201
(953,670)
(952,469)

32,113,831
(32,113,831)
44,280
44,280

151,238

(49,063)

5,956,555

3,236,732
3,387,970

$

1,184,331
1,135,268

$

97,279,618
103,236,173

26

Converse County, Wyoming
Year Ended June 30, 2025
Reconciliation of the Statement of Revenues, Expenditures, and Changes in Fund Balances of
Governmental Funds to the Statement of Activities
Amounts reported for governmental activities in the statement of
activities are different because:
Net change in fund balances - total governmental funds
Governmental funds report capital outlays as expenditures. However,
in the statement of activities the cost of those assets is allocated over
their estimated useful lives and reported as depreciation expense.
These changes are detailed as follows:
Capital asset acquisitions expended in the governmental funds
Depreciation expense for the year
Loss on disposal of capital assets

$

$

5,956,555

25,551,144
(2,738,446)
(36,655)

22,776,043

Pension expenses reported in the statement of activities do not require
the use of current financial resources, and therefore are not reported
as expenditures in governmental funds:
Deferred outflows - pension plan items - prior year
Deferred outflows - pension plan items - current year
Deferred inflows - pension plan items - prior year
Deferred inflows - pension plan items - current year

(3,084,557)
2,318,127
3,921,126
(3,495,935)

(341,239)

The issuance of long-term debt provides current financial resources
to governmental funds, while the repayment of principal consumes
the current financial resources of governmental funds. Neither
transaction, however, has any effect on changes in net position.
This is the net effect of these differences in the treatment of
long term-debt:
Principal payments on lease purchase obligation
Liability for compensated absences - prior year
Liability for compensated absences - current year
Net pension liability - prior year
Net pension liability - current year

114,783
468,172
(894,277)
9,215,689
(9,116,731)

(212,364)

An internal service fund is used by management to charge the cost of
medical insurance to individual funds. The net revenue (expense)
of the internal service fund is reported with governmental activities.
Revenues in the statement of activities that do not provide current
financial resources are not reported as revenues
in the governmental funds.
Difference in unavailable other revenue - prior year
Difference in unavailable other revenue - current year
Difference in unavailable property tax revenue - prior year
Difference in unavailable property tax revenue - current year
Change in net position of governmental activities

469,511

(1,834,476)
1,112,000
(8,286,461)
7,286,150
$

(1,722,787)
26,925,719

See accompanying notes to the financial statements

27

Converse County, Wyoming
June 30, 2025
Statement of Net Position - Proprietary Fund

Governmental
Activity
Internal Service
Fund
ASSETS
Cash and cash equivalents
Investments
Accrued interest receivable
Total assets

$

LIABILITIES
Current liabilities
Accounts payable
Noncurrent liabilities
Incurred but not reported claims
Total liabilities
NET POSITION
Unrestricted
Total net position

2,487,288
1,821,237
11,239
4,319,764

168,854
360,000
528,854

$

3,790,910
3,790,910

See accompanying notes to the financial statements

28

Converse County, Wyoming
Year Ended June 30, 2025
Statement of Revenues, Expenses, and Changes in Fund Net Position - Proprietary Fund

Governmental
Activity
Internal Service
Fund
Operating revenues
Charges for premiums

$

Total operating revenues

4,640,844
4,640,844

Operating expenses
Medical claims net of reinsurance and fees

2,918,297

Operating expenses
Total operating expenses

1,370,592
4,288,889

Operating income

351,955

Nonoperating revenue
Investment income
Total nonoperating revenue

117,556
117,556

Change in net position

469,511

Net position, beginning of year
Net position, end of year

3,321,399
3,790,910

$

See accompanying notes to the financial statements

29

Converse County, Wyoming
Year Ended June 30, 2025
Statement of Cash Flows - Proprietary Fund

Governmental
Activity
Internal Service
Fund
Cash flows from operating activities
Receipts from interfund services provided
Payments to third party administrator for medical costs
Net cash and cash equivalents provided by operating activities

$

Cash flows from investing activities
Purchases of investments
Interest on investments
Net cash and cash equivalents provided by investing activities

4,640,844
(4,002,158)
638,686

(74,948)
110,285
35,337

Net increase in cash and cash equivalents

674,023

Cash and cash equivalents, beginning of year
Cash and cash equivalents, end of year
Reconciliation of operating income to net cash and cash equivalents provided by
operating activities
Operating income
Adjustments to reconcile operating income to cash and cash equivalents
provided by operating activities
Increase (decrease) in cash and cash equivalents resulting from
changes in operating assets and liabilities
Accounts payable
Incurred but not reported claims
Net cash and cash equivalents provided by operating activities

$

1,813,265
2,487,288

$

351,955

$

65,319
221,412
638,686

See accompanying notes to the financial statements

30

Converse County, Wyoming
June 30, 2025
Statement of Fiduciary Net Position - Fiduciary Fund

County
Custodial Fund
ASSETS
Cash and cash equivalents
Property taxes receivable
Total assets

$

15,166,000
29,840,548
45,006,548

LIABILITIES
Due to other taxing units
Total liabilities

14,001,533
14,001,533

DEFERRED INFLOWS OF RESOURCES
Unavailable property taxes
Total deferred inflows of resources

29,840,540
29,840,540

NET POSITION
Restricted for
Individuals, other governments, and organization
Total net position

1,164,475
1,164,475

$

See accompanying notes to the financial statements

31

Converse County, Wyoming
Year Ended June 30, 2025
Statement of Changes in Fiduciary Net Position - Fiduciary Fund

County
Custodial Fund
ADDITIONS
Amounts received from inmates
Child support collections
Collection of taxes, fees, and bonds for other governments and organizations
Total contributions

$

Interest and dividends
Total additions

263,393
204,500,213

DEDUCTIONS
Inmate payments for goods, services, and distributions
Child support distributions
Payments of taxes, fees, and bonds to other governments and organizations
Total deductions

151,079
375,309
203,758,573
204,284,961

Net increase in fiduciary net position
Net position, beginning of the year
Net position, end of the year

218,981
376,836
203,641,003
204,236,820

215,252

$

949,223
1,164,475

See accompanying notes to the financial statements

32

Converse County, Wyoming
June 30, 2025
Combining Statement of Net Position - Discretely Presented Component Units

County
Airport
ASSETS
Cash and cash equivalents
Cash held by fiscal agent
Investments
Property taxes receivable
Accounts receivable, net
Due from primary government
Lease receivable, current portion
Prepaid items and other assets
Inventory
Restricted cash and cash equivalents, noncurrent
Restricted investments, noncurrent
Other assets, noncurrent
Lease receivable, noncurrent
Beneficial interest in assets held by others
Capital assets not being depreciated
Capital assets being depreciated, net of
accumulated depreciation
Total assets
DEFERRED OUTFLOWS OF RESOURCES
Excess of acquisition over consideration
Pension plan items
Total deferred outflows of resources
LIABILITIES
Accounts payable and accrued liabilities
Noncurrent liabilities
Due within one year
Due in more than one year
Total liabilities

$

DEFERRED INFLOWS OF RESOURCES
Unavailable property tax revenue
Lease receivable
Pension plan items
Total deferred inflows of resources
NET POSITION
Net investment in capital assets
Restricted by donors, nonexpendable
Restricted by donors and others, expendable
Restricted by voters
Unrestricted
Total net position

$

206,589
436,423
64,038
6,428
1,912
30,000
48,800
56,816
7,911,355

Weed and Pest
Control
District

County
Hospital
$

3,858,264
2,262,133
36,742,491
1,402,643
3,168,373
12,948,038
230,052
7,026,715

$

4,662,631
577,879
152,536
950,388
12,000

5,941,541
14,703,902

29,872,804
97,511,513

840,880
7,196,314

12,930
12,930

46,276,782
46,276,782

31,159
31,159

80,013

14,413,765

1,487,228

65,395
145,408

10,745,347
28,645,782
53,804,894

223,644
1,710,872

61,359
17,735
79,094

-

1,043,734
60,134
1,103,868

13,786,261
30,000
676,069
14,492,330

31,788,460
8,919,065
49,275,876
89,983,401

852,880
3,559,853
4,412,733

$

$

See accompanying notes to the financial statements

33

County
Library
$

$

2,305,935
142,800
1,513,308
1,519
10,169
511,750
98,799
1,545,584
298,690
100,600

County
Fair
$

Total

192,953
23,809
41,034
-

$

11,226,372
142,800
4,211,864
579,398
36,993,043
552,784
6,428
1,404,555
4,118,761
98,799
14,523,622
278,852
56,816
298,690
15,050,670

17,329,597
23,858,751

257,796

53,984,822
143,528,276

111,832
111,832

-

46,276,782
155,921
46,432,703

12,505

30,486

16,023,997

25,584
778,273
816,362

30,486

10,770,931
29,713,094
56,508,022

114,406
114,406

-

1,043,734
61,359
192,275
1,297,368

17,430,197
581,927
90,603
2,357,524
2,579,564
23,039,815

227,310
227,310

63,857,798
581,927
9,039,668
2,357,524
56,318,672
$ 132,155,589

$

34

Converse County, Wyoming
Year Ended June 30, 2025
Combining Statement of Activities - Discretely Presented Component Units

Program Revenues

Component Units
County Airport
County Hospital
Weed and Pest Control District
County Library
County Fair

Expenses
$

$

954,138
143,216,821
2,336,943
2,503,295
695,032
149,706,229

Operating
Grants and
Contributions

Charges for
Services
$

$

73,122
144,973,737
857,294
3,299
532,653
146,440,105

$

$

517,818
6,109,526
2,070,251
179,943
8,877,538

Capital
Grants and
Contributions
$

$

4,690,996
4,690,996

General revenues
Property taxes
Unrestricted investment income
Loss on sale and disposal of capital assets
Miscellaneous
Total general revenues
Change in net position
Net position, beginning as previously reported
Adoption of GASB 101
Net position, beginning as restated
Net position, end of year

See accompanying notes to the financial statements

35

Net (Expense) Revenue and Changes in Net Position

County
Airport
$

$

4,327,798
4,327,798

Weed and
Pest Control
District

County
Hospital
$

7,866,442
7,866,442

$

(1,479,649)
(1,479,649)

County
Library
$

(429,745)
(429,745)

County
Fair
$

17,564
17,564

Totals
$

4,327,798
7,866,442
(1,479,649)
(429,745)
17,564
10,302,410

1,561
22,422
16,995
40,978

875,080
(34,642)
840,438

1,331,466
193,139
37,761
1,562,366

231,422
231,422

756
756

1,333,027
1,322,063
(34,642)
55,512
2,675,960

4,368,776

8,706,880

82,717

(198,323)

18,320

12,978,370

10,123,554
10,123,554

81,276,521
81,276,521

4,342,901
(12,885)
4,330,016

23,238,138
23,238,138

208,990
208,990

119,190,104
(12,885)
119,177,219

227,310

$ 132,155,589

14,492,330

$

89,983,401

$

4,412,733

$

23,039,815

$

36

This page is intentionally left blank

Converse County, Wyoming
June 30, 2025
Notes to the Financial Statements

Note 1.

Nature of Operations and Significant Accounting Policies

Converse County, Wyoming (County) provides a broad range of services to its citizens, including general
government, public safety, transportation, roads and bridges, health, cultural, recreational, conservation and
social services.

Financial Reporting Entity
The County (primary government) is a municipal corporation governed by five elected commissioners. As
required by accounting principles generally accepted in the United States of America, these financial statements
present the County and its component units, entities for which the County is considered to be financially
accountable, and other organizations for which the nature and significance of their relationship with the County
are such that exclusion would cause the County’s financial statements to be misleading or incomplete. Blended
component units, although legally separate entities are, in substance, part of the County's operations, and so
data from those units would be combined with data of the primary government. Each discretely presented
component unit, on the other hand, is reported in a separate column in the combining statements for major
component units to emphasize it is legally separate from the County. Each discretely presented component unit
has a June 30 year-end.

Discretely Presented Component Units
•

The Converse County Airport Board (“County Airport” or “Airport”) provides and maintains aviation
facilities for the County. The Board of County Commissioners approves the Airport’s budget and must
approve any debt issuances. Additionally, the Airport receives funding from the County’s general fund.
Separate audited financial statements can be obtained from the Airport’s administrative offices located
in Douglas, Wyoming.

•

The Memorial Hospital of Converse County (“County Hospital” or “Hospital”) provides and maintains the
Hospital facility for Converse County. The Board of County Commissioners appoints the Hospital’s
board of trustees. The Hospital receives funding from the County’s general fund for ambulance and
indigent care. The Hospital includes the financial data of its component units, the Hospital Foundation
and Summit Memorial Management and Summit Medical Center. Separate audited financial statements
of the Hospital can be obtained from the Hospital’s administrative offices located in Douglas, Wyoming.

•

The Converse County Weed and Pest Control District (“Weed and Pest”) was established for the purpose
of implementing and pursuing an effective program for the control of weeds and pests within the
County. The Board of County Commissioners levies taxes on behalf of the Weed and Pest. Separate
audited financial statements of the Weed and Pest can be obtained from the Weed and Pest
administrative offices located in Douglas, Wyoming.

•

The Converse County Library (“County Library” or “Library”) maintains and manages the operations of
the County Library and library system. The Library is fiscally dependent upon the County. The Board of
County Commissioners approves the Library’s budget and must approve any debt issuances. The
County Library includes the financial data of its component unit, the Converse County Library
Foundation. The Library does not issue separate audited financial statements.

37

Converse County, Wyoming
June 30, 2025
Notes to the Financial Statements

Note 1.

Nature of Operations and Significant Accounting Policies (Continued)

Discretely Presented Component Units (Continued)
•

The Converse County Fair Board (“County Fair” or “Fair Board”) maintains and manages the operations of
the County Fair. The Fair Board is fiscally dependent upon the County. The Board of County
Commissioners approves the Fair Board’s budget. The Fair Board does not issue separate audited
financial statements.

Blended Component Unit
The Converse County Joint Justice Center Joint Powers Board (“Board”) maintains and manages the operations of
the newly constructed Justice Center. The Joint Justice Center Building is 74% funded by the County and 26%
funded by the City of Douglas, cost of operations of the dispatch center are split between the County and the
City of Douglas based on projected usages currently 50/50. Based on these activities, the Board is fiscally
dependent upon the County. The Board is comprised of three County Commissioners and three City Council
representatives and one at-large member. The Converse County Joint Justice Center Joint Powers Board is
reported as a special revenue fund of the County.

Jointly Governed Organization
The Fire Suppression Authority of Converse County was formed by the Converse County Municipal and Joint
Powers Board consisting of the County Commissioners, the City of Douglas, Wyoming, the Town of Glenrock,
Wyoming, the Town of Rolling Hills, Wyoming, and the Town of Lost Springs, Wyoming. The Converse County
Municipal and Joint Powers Board is a separate legal entity created in accordance with the provisions of the
Wyoming Joint Powers Act and does not meet the criteria to be reported as a component unit of the County.
During the fiscal year ended June 30, 2025, the County allocated $1,825,878 to the Converse County Fire
Suppression Authority.

Government-Wide and Fund Financial Statements
The government-wide financial statements (i.e., the statement of net position and the statement of activities)
report information on all of the nonfiduciary activities of the primary government and its component units. For
the most part, the effect of interfund activity has been removed from these statements. Governmental activities,
which normally are supported by taxes and intergovernmental revenues, are reported separately from businesstype activities, which rely to a significant extent on fees and charges for support. Likewise, the primary
government is reported separately from certain legally separate component units for which the primary
government is financially accountable. The statement of activities demonstrates the degree to which the direct
expenses of a given function or segment is offset by program revenues. Direct expenses are those that are
clearly identifiable with a specific function or segment. Program revenues include 1) charges to customers or
applicants who purchase, use, or directly benefit from goods, services, or privileges provided by a given function
or segment and 2) grants and contributions that are restricted to meeting the operational or capital
requirements of a particular function or segment. Taxes and other items not properly included among program
revenues are reported instead as general revenues.

38

Converse County, Wyoming
June 30, 2025
Notes to the Financial Statements

Note 1.

Nature of Operations and Significant Accounting Policies (Continued)

Measurement Focus, Basis of Accounting, and Financial Statement Presentation
Separate financial statements are provided for governmental funds, proprietary funds and fiduciary funds, even
though the latter are excluded from the government-wide financial statements. Major individual governmental
funds and major individual proprietary funds are reported as separate columns in the fund financial statements.
The government-wide financial statements are reported using the economic resources measurement focus and
the accrual basis of accounting, as are the proprietary fund and fiduciary fund financial statements. Revenues
are recorded when earned and expenses are recorded when a liability is incurred, regardless of the timing of
related cash flows. Property taxes are recognized as revenues in the year for which they are levied. Grants and
similar items are recognized as revenue as soon as all eligibility requirements imposed by the provider have
been met.
Governmental fund financial statements are reported using the current financial resources measurement focus
and the modified accrual basis of accounting. Revenues are recognized as soon as they are both measurable
and available. Revenues are considered to be available when they are collectible within the current period.
For this purpose, the government considers revenues to be available if they are collected within 60 days of the
end of the current fiscal period. Expenditures generally are recorded when a liability is incurred, as under accrual
accounting. However, debt service expenditures including lease liabilities, as well as expenditures related to
compensated absences and claims and judgments, are recorded only when payment is due. General capital asset
acquisitions, including entering into contracts giving the County the right-to-use leased assets, are reported as
expenditures in governmental funds. Issuance of long-term debt and acquisitions and financing through leases
are reported as other financing sources.
Property taxes, franchise taxes, licenses, and interest associated with the current fiscal period are all considered
to be susceptible to accrual and so have been recognized as revenues of the current fiscal period. All other
revenue items are considered to be measurable and available only when cash is received by the government.
The County reports the following major governmental funds:

General Fund is the government’s primary operating fund. It accounts for all financial resources of the general
government, except those required to be accounted for in another fund.
County Roads Fund is a capital projects fund and is used to account for the acquisition and construction of

county roads.

Capital Projects Fund is used to account for major construction projects of the County. The construction is
financed from transfers from the General Fund.
Joint Justice Center Joint Powers Board Fund is used to account for the activities of the joint powers board, a

blended component unit of the government. The joint powers board operates the Converse County Joint Justice
Center.
The County reports the following major proprietary fund:

Internal Service Fund accounts for the County’s self-funded medical insurance, which is administered by a thirdparty administrator.

39

Converse County, Wyoming
June 30, 2025
Notes to the Financial Statements

Note 1.

Nature of Operations and Significant Accounting Policies (Continued)

Measurement Focus, Basis of Accounting, and Financial Statement Presentation (Continued)
Additionally, the County reports the following fund types:
The County Custodial Fund is custodial in nature and is used to account for assets that the County holds for
others in a fiduciary capacity (e.g. taxes collected by the treasurer for the benefit of other governments).
As a general rule the effect of interfund activity has been eliminated from the government-wide financial
statements.
Amounts reported as program revenues include 1) charges to customers or applicants for goods, services, or
privileges provided, 2) operating grants and contributions, and 3) capital grants and contributions, including
special assessments. Internally dedicated resources are reported as general revenues rather than as program
revenues. Proprietary funds distinguish operating revenues and expenses from nonoperating items. Operating
revenues and expenses generally result from providing services and producing and delivering goods in
connection with a proprietary fund’s principal ongoing operations. The principal operating revenues of the
County’s proprietary fund are reimbursements from other funds for medical costs. Operating expenses for the
proprietary fund include medical costs and insurance. All revenues and expenses not meeting this definition are
reported as non-operating revenues and expenses.

Assets, Liabilities, Deferred Inflows and Outflows of Resources, and Net Position/Fund Balance
Cash and Cash Equivalents
The County considers all demand deposits and highly liquid investments with an original maturity date of three
months or less when purchased to be cash equivalents. For purposes of the statement of cash flows, the
County’s proprietary funds consider their demand deposits and all highly liquid investments with an original
maturity of three months or less when purchased to be cash equivalents.
The County’s cash activity is accounted for in pooled cash accounts. The accounting records for each applicable
fund reflects their portion of the pooled cash and investments, and any separate unpooled bank accounts. When
a particular fund overdraws its share of pool cash, the deficit is recorded as a payable to the general fund and a
corresponding entry is made in the general fund to reflect the receivable from the other fund.

Restricted Cash and Cash Equivalents
The County considers any cash that is legally restricted as to withdrawal or usage to be presented as restricted
cash and cash equivalents.

40

Converse County, Wyoming
June 30, 2025
Notes to the Financial Statements

Note 1.

Nature of Operations and Significant Accounting Policies (Continued)

Assets, Liabilities, Deferred Inflows and Outflows of Resources, and Net Position/Fund Balance
(Continued)
Investments and Restricted Investments
The County follows the guidelines described in Wyoming Statute 9-4-831 as it relates to the investment of
public funds. Wyoming Statutes authorize the types of investments in which counties may invest. Among these
authorized investments are certificates of deposit, money market funds, commercial paper with maturities not
more than 270 days, obligations of the U.S. Treasury, agencies and instrumentalities of the U.S. Government,
mortgage-backed securities, guaranteed investment contracts, and repurchase agreements with banks with the
underlying securities being obligations of the U.S. Treasury or agencies and instrumentalities of the U.S.
Government. The County’s investments are carried at fair value except for the non-negotiable certificates of
deposit, which are carried at an amortized cost, consist of certificates of deposit, government sponsored
enterprise securities (GSEs) notes, Wyoming Government Investment Fund (WGIF), participation in WYO-STAR I,
Wyoming Cooperative Liquid Asset Securities System (Wyoming CLASS), and money market accounts.
WYO-STAR I is an authorized government investment pool established in 1987 offered exclusively to Wyoming
governmental entities by the Wyoming State Treasurer’s office. The value of the County’s investments in WYOSTAR I equals the value of its WYO-STAR I shares. Each participant’s position in WYO-STAR I is calculated by the
proportion of their share as a percentage of the total share invested in the pool. Income is distributed to
participants based on each entity’s average daily share balance in the pool. Interest is calculated and credited
monthly. WYO-STAR I investments are carried at their fair value as determined at June 30 each year. WYO-STAR
I’s target asset allocation, as stated in its Master Investment Policy, comprises one hundred percent (100%) of
short-term bonds and cash. The Pool does not have a guaranteed rate of return, and Participants expose their
investments to market losses as well as gains. There are no unfunded commitments, the redemption frequency
is daily, and there is no redemption notice period or withdrawal penalty. Withdrawals are available on the
effective date of the transaction, except for the amount subject to hold back. The holdback represents an
amount up to 10% of the total value of the pool participant’s withdrawal, as determined by the pool
administrator. This amount is typically held until the end of the month, when all account reconciliations are
complete.
Wyoming Government Investment Fund (WGIF) is a governmental pool established in 1996 to provide cashmanagement investments exclusively designed for Wyoming public entities. The WGIF Liquid Asset Series is a
short-term money market portfolio that seeks to provide daily liquidity and there are no withdrawal penalties.
The value of the County’s investment in WGIF equals the value of its WGIF shares. WGIF Board of Trustees is
responsible for the overall management of WGIF including formation of its investment and operating policies.
The Wyoming CLASS Indenture of Trust was adopted pursuant to the provisions of W.S. 17-23-101 et seq., the
Wyoming Statutory Trust Act. The Wyoming CLASS portfolio invests in U.S. Treasury securities, federal
instrumentality securities, agency securities, repurchase agreements and triparty repurchase agreements,
collateralized bank deposits commercial paper that, at the time of purchase is rated in its highest rating category
by one or more nationally recognized statistical rating organizations that regularly rate such obligations, and
government money market funds. The value of the County’s investment in Wyoming CLASS equals the value of
its Wyoming CLASS shares. There are no withdrawal penalties.

41

Converse County, Wyoming
June 30, 2025
Notes to the Financial Statements

Note 1.

Nature of Operations and Significant Accounting Policies (Continued)

Assets, Liabilities, Deferred Inflows and Outflows of Resources, and Net Position/Fund Balance
(Continued)
Investments and Restricted Investments (Continued)
The Wyoming CLASS Board of Trustees is responsible for assuring compliance with the Indenture and the
investment restrictions. It oversees, reviews, administers, and supervises the activities of the Trust’s professional
advisors.
The component units’ investments consist of mutual funds, certificates of deposit, and participation in WYOSTAR I and some component units have investments restricted by donors and others. The Library Foundation is
a component unit of the Library and is a 501(c)3 organization that is not subject to the state statutes which
restrict investments to governmental securities. The component units do not have their own investment policies.
Certain debt covenants require the Hospital to establish and maintain prescribed amounts of resources
(consisting of cash and temporary investments) that can be used to service outstanding debt. The Hospital’s
restricted investments, long-term certificates of deposit and cash are pledged as collateral on its note payable.

Receivables and Payables
Activity between funds that is representative of lending/borrowing arrangements outstanding at the end of the
fiscal year is referred to as “Due to/from other funds”. All other outstanding balances between funds are
reported as “due to/due from” the entities and funds involved. Transfers and interfund transactions between
governmental funds are eliminated in the government-wide financial statements.
Any advances between funds, as may be reported in the fund financial statements, are offset by a fund balance
reserve account in the applicable governmental funds to indicate that they are not available for appropriation
and are not expendable financial resources.
The Hospital’s patient receivables are uncollateralized customer and third‐party payor obligations. Patient
receivables, excluding amounts due from third‐party payors, are turned over to a collection agency if the
receivables remain unpaid after the Hospital’s collections procedures. The Hospital does not charge interest on
the unpaid patient receivables. Payments of patient receivables are allocated to the specific claims identified on
the remittance advice or, if unspecified, are applied to the earliest unpaid claim.
The carrying amount of patient receivables is reduced by a valuation allowance that reflects management’s best
estimate of amounts that will not be collected from patients and third-party payors. Management reviews
patients’ receivables by payor class and applies percentages to determine estimated amounts that will not be
collected from patients due to bad debts. Management considers historical write off and recovery information
in determining the estimated bad debt provision.

42

Converse County, Wyoming
June 30, 2025
Notes to the Financial Statements

Note 1.

Nature of Operations and Significant Accounting Policies (Continued)

Assets, Liabilities, Deferred Inflows and Outflows of Resources, and Net Position/Fund Balance
(Continued)
Other Assets, Long-Term
Other assets, long-term, include the Hospital’s investment in a limited liability company. The Hospital has a 40%
equity interest in Big County Rehabilitation, LLC. This investment is accounted for using the equity method.
Accordingly, the carrying value is equal to the capital contribution the Hospital has made, adjusted for profits
and losses, which are allocated to the members as provided in the operating agreements. The Hospital also has
a 100% interest in Summit Memorial Management (SMM). SMM is considered to be a blended component unit
of the Hospital.

Inventory and Prepaid Items
Inventories are stated at the lower cost (first in, first out method) or market. Inventories are accounted for using
the consumption method by which inventory acquisitions are recorded in inventory accounts when purchased or
received by other means and are charged to expense when consumed or sold. Inventory is offset by a
nonspendable fund balance account which indicates it is not an available spendable resource.
Certain payments to vendors reflect costs applicable to future accounting periods and are recorded as prepaid
items in both the government-wide and fund financial statements. The cost of prepaid items is recorded as
expenditures/expenses when consumed rather than when purchased.

Capital Assets
Capital assets, which include property, equipment and infrastructure assets, are recorded at historical cost or at
estimated historical cost if the actual historical cost is not available in the government-wide financial statements
except for right-to-use assets, the measurement of which is discussed below. Infrastructure assets include roads,
bridges, culverts, and signs.
In accordance with the alternative approach to depreciating infrastructure assets permitted by GASB Statement
No. 34, the County has elected to expense all infrastructure related expenditures, except for those expenditures
related to additions to or significant improvement of infrastructure assets, in lieu of depreciating infrastructure
assets. In order to utilize the alternative system, the County must maintain an asset management system which
assesses asset condition and must maintain infrastructure assets at the condition level established by the
County. Capital asset purchases are accounted for as expenditures of the general fund and road construction
fund in the governmental fund financial statements. Other costs for repairs and maintenance are accounted for
as expenditures as incurred.

43

Converse County, Wyoming
June 30, 2025
Notes to the Financial Statements

Note 1.

Nature of Operations and Significant Accounting Policies (Continued)

Assets, Liabilities, Deferred Inflows and Outflows of Resources, and Net Position/Fund Balance
(Continued)
Capital Assets (Continued)
Depreciation on property and equipment is provided on the straight-line basis over the following useful lives:
Primary Government
Buildings and building improvements
Machinery, equipment and office fixtures
Component Units
Improvements other than buildings
Buildings and building improvements
Machinery, equipment and office fixtures
Collection
Right-to-use assets

Years
15 - 30
5 - 15
10 - 20
5 - 40
3 - 25
3-5
3-5

Capital assets must possess the following characteristics: 1) be tangible in nature, 2) have a life longer than one
year, and 3) value in excess of $5,000. Capital asset purchases are accounted for as expenditures in the
governmental fund financial statements. Other costs for repairs and maintenance are accounted for as
expenditures as incurred. Property and equipment donated for the Hospital are valued at their estimated
acquisition value at the date of the gift.

Right to Use Leased Assets
Right to use leased assets are recognized at the lease commencement date and represent the County’s right to
use an underlying asset for the lease term. Right to use leased assets are measured at the initial value of the
lease liability plus any payments made to the lessor before the commencement of the lease term, less any lease
incentives received from the lessor at or before the commencement of the lease term, plus any initial direct costs
necessary to place the lease asset into service. Right to use leased assets are amortized over the shorter of the
lease term or useful life of the underlying asset using the straight-line method. The amortization period varies
from 3 to 5 years.

Deferred Inflows and Outflows of Resources
In addition to assets, the financial statements report a separate section for deferred outflows of resources. This
separate financial statement element, deferred outflows of resources, represents a consumption of net assets
that applies to a future period and so will not be recognized as an outflow of resources (expense/expenditure)
until then. In addition to liabilities, the financial statements include a separate section for deferred inflows of
resources. This separate financial statement element, deferred inflows of resources, represents an acquisition of
net assets that apply to a future period and so will not be recognized as an inflow of resources (revenue) until
that time. The County reports deferred outflows and deferred inflows as follows:

Excess of Acquisition over Consideration – Deferred outflow related to excess acquisition over consideration

resulted from the purchase of a neurology practice and is amortized over 15 years on a straight‐line basis.

44

Converse County, Wyoming
June 30, 2025
Notes to the Financial Statements

Note 1.

Nature of Operations and Significant Accounting Policies (Continued)

Assets, Liabilities, Deferred Inflows and Outflows of Resources, and Net Position/Fund Balance
(Continued)
Deferred Inflows and Outflows of Resources (Continued)
Unavailable Revenues – The governmental funds report unavailable revenues from two sources: property taxes

and wind taxes. These amounts are deferred and recognized as an inflow of resources in the period that the
amounts become available. In the government-wide statement of net position, property tax revenue is reported
as deferred inflows of resources in the year the property tax lien attaches to the property. Additionally, the
County reports deferred amounts related to leases.

Pension Plan Items – In the government-wide statements of net position, a deferred outflow or deferred inflow

of resources is reported for the unrecognized items not yet charged to pension expense related to the net
pension liability. This includes the unamortized portion of the net difference between projected and actual
earnings on pension plan investments and other differences between expected and actual experience. Deferred
outflows for the net difference between projected and actual investment earnings are recognized over a period
of five years, while the deferred outflows or deferred inflows for the differences between expected and actual
experience for economic/demographic assumptions are recognized over the remaining service life for all active
and inactive members.

Pension Plan Items
For purposes of measuring the net pension liability, deferred outflows of resources and deferred inflows of
resources related to pensions, and pension expense, information about the fiduciary net position of the
Wyoming Retirement System (“WRS”) plans and additions to/deductions from WRS’s fiduciary net position have
been determined on the same basis as they are reported by WRS. For this purpose, benefit payments (including
refunds of employee contributions) are recognized when they are due and payable in accordance with the
benefit terms. Investments are reported at fair value.

Property Taxes
The County assesses both mineral and non-mineral ad valorem property taxes, which are generally levied on or
about August 1 each year.
•

Non-Mineral Property Taxes: These are valued and assessed annually as of January 1 at fair market
value, in accordance with Wyoming Statute §39-13-103. A tax lien becomes enforceable on January 1.
County Commissioners levy the taxes around August 1. Payments are due in two equal installments: the
first due September 1 (delinquent after November 10), and the second on March 1 of the following year
(delinquent May 10).

45

Converse County, Wyoming
June 30, 2025
Notes to the Financial Statements

Note 1.

Nature of Operations and Significant Accounting Policies (Continued)

Assets, Liabilities, Deferred Inflows and Outflows of Resources, and Net Position/Fund Balance
(Continued)
Property Taxes (Continued)
•

Mineral Property Taxes: These are assessed based on the mineral production from the preceding
calendar year, with a tax lien attaching at the time of severance, in accordance with Wyoming Statute
§39-14-203(c). County Commissioners levy the taxes around August 1. The Wyoming Department of
Revenue (Department) centrally collects mineral ad valorem taxes based on current monthly production
reports. Taxes are due to the Department by the 25th day of the third month following the month of
production, as established by House Bill 159, 2021 Legislative Session. The Department distributes these
collections to the counties.

Mineral property tax collections are based on the current production while the county levy is based on the
preceding calendar year’s production, the Department’s collections occur before the county’s levy is formally
set. The county distributes all collected property taxes to the appropriate taxing entities when received. Once
the levy is established, the county reconciles the pre-collected taxes against the levy. This reconciliation can
result in either an additional amount due or a refund for overpayment.
Property tax revenues are recognized when levied to the extent they result in current receivables, which means
when collected within the current period or expected to be collected within 60 days of the fiscal year-end to be
used to pay liabilities of the current period on the fund financial statements. Property taxes, which are not
current receivables, are offset by deferred inflows of resources on the fund financial statements but are reported
on the government-wide financial statements as revenue and receivables, with no amount being deferred when
levied. Property taxes receivable is recognized as of the lien date; however, revenue is not recognized until the
levy date.
The County recognized property taxes levied in August 2024 as revenue for the fiscal year ended June 30, 2025.
Property taxes received from mineral production in calendar years 2024 and 2025 were reported as unearned
revenue in both the fund and government-wide financial statements as of June 30, 2025, because they were not
yet levied, assessed or reconciled, and may result in a repayment of collected taxes. Mineral property taxes for
2024 calendar production were legally assessed on January 1, 2025, but were not levied until August 2025.
Mineral property taxes for production in calendar year 2025 had not been assessed as of June 2025.
The County is permitted by Wyoming Statutes to levy up to 12 mills of assessed valuation for all purposes,
exclusive of the state revenue, except for the payment of public debt and interest thereon. The combined tax
rate to finance general governmental services, other than the payment of principal and interest on long-term
debt for the year ended June 30, 2025, was 12 mills, which means that the County has levied to the maximum
amount available.

Major Taxpayers
The County's ten largest taxpayers account for approximately 80% of the County's total assessed property
valuation. Nine of the ten taxpayers are involved in the mineral extraction industry, and the other one is a power
producer. The County received approximately 53% of its total revenues from these taxpayers.
46

Converse County, Wyoming
June 30, 2025
Notes to the Financial Statements

Note 1.

Nature of Operations and Significant Accounting Policies (Continued)

Assets, Liabilities, Deferred Inflows and Outflows of Resources, and Net Position/Fund Balance
(Continued)
Compensated Absences
All regular, full-time and half-time employees who work at least twenty hours accrue monthly paid vacation.
Employees accumulate vacation leave hours monthly based on number of years of service with the County. Fulltime employees are entitled to 12 vacation days for 0 to 5 years of service, 15 vacation days for 6 to 10 years of
service, and 20 ¼ days for more than 11 years of service, and all half-time employees are entitled to half of the
days attributed to the full-time employees. As of January 1, each year, the maximum annual vacation leave
accrual allowed is 20 days. If the maximum is exceeded, the excess amount of annual vacation leave time will be
forfeited by the employee without compensation. The days credited to an employee for annual vacation leave
time are working days. A liability for these amounts is reported for these amounts in the governmental funds
only if they have matured, for example, as a result of employee resignation and retirement.
Regular employees accrue one day per month of sick leave and half-time employees accrued one-half day per
month; however, none of the accumulated sick leave will be paid upon termination of employment.
The Hospital’s employees earn paid time‐off days at varying rates depending on years of service. Employees may
accumulate paid time‐off up to a specified maximum. Employees are paid for accumulated paid time‐off upon
termination. The liability for compensated absences is included with accrued salaries and benefits in the
accompanying financial statements.
Compensated absences are recognized as a liability when the leave is earned, and it is more likely than not that
the benefit will be used or paid.

Short-Term Financing
The County did not issue any tax anticipation notes or use any other type of short-term financing for the year
ended June 30, 2025.

Fund Equity/Net Position
Governmental fund equity is classified as fund balance. Fund balance is further classified as nonspendable,
restricted, committed, assigned, or unassigned. Nonspendable fund balance cannot be spent because of its form
or legal restrictions. Restricted fund balance has limitations imposed by creditors, grantors, or contributors or by
enabling legislation or constitutional provisions. Committed fund balance is a limitation imposed by the County
Commission, the highest level of authority, through approval of resolutions. Assigned fund balances express the
intent of the County, as designated by the County Commission, to utilize the funds for specific purpose.
Unassigned fund balance in the General Fund is the net resources in excess of what can be properly classified in
one of the above four categories.
Negative unassigned fund balance in other governmental funds represents excess expenditures incurred over
the amounts restricted, committed, or assigned to those purposes. Proprietary fund equity is classified the same
as in the government-wide statements.
47

Converse County, Wyoming
June 30, 2025
Notes to the Financial Statements

Note 1.

Nature of Operations and Significant Accounting Policies (Continued)

Assets, Liabilities, Deferred Inflows and Outflows of Resources, and Net Position/Fund Balance
(Continued)
Fund Equity/Net Position (Continued)
When both restricted and unrestricted fund balances are available for use, it is the County’s policy to use
restricted fund balance first, then unrestricted fund balance. Furthermore, committed fund balances are reduced
first, followed by assigned amounts, and then unassigned amounts when expenditures are incurred for purposes
for which amounts in any of those unrestricted fund balance classifications can be used.
For the government-wide financial statements, net position is reported as restricted when constraints placed on
net position are either: (1) externally imposed by creditors (such as debt covenants), grantors, contributors, or
laws or regulations of other governments or (2) imposed by law through constitutional provisions or enabling
legislation.

Net Patient Service Revenue
The Hospital has agreements with third‐party payors that provide payments to the Hospital at amounts different
from its established rates. Payment arrangements include prospectively determined rates, reimbursed costs,
discounted charges, and per diem payments. Net patient service revenue is reported at the estimated net
realizable amounts from patients, third‐party payors, and others for services rendered, including estimated
retroactive adjustments under reimbursement agreements with third‐party payors. Retroactive adjustments are
accrued on an estimated basis in the period the related services are rendered and adjusted in future periods as
final settlements are determined.
Concentration of gross revenues by major payor accounted for the following percentages of the Hospital’s
patient service revenues for the years ended June 30, 2025 are 36% Medicare, 6% Medicaid, 23% Blue Cross,
31% other third‐party payors, and 4% self-pay and other.
Laws and regulations governing the Medicare, Medicaid, and other programs are extremely complex and subject
to interpretation. As a result, there is at least a reasonable possibility that recorded estimates will change by a
material amount in the near term.

Operating Revenues and Expenses
The Hospital’s statement of revenues, expenses, and changes in net position distinguishes between operating
and nonoperating revenues and expenses. Operating revenues and expenses of the Hospital result from
exchange transaction associated with providing health care services – the Hospital’s principal activity, and the
costs of providing those services, including depreciation and amortization and excluding interest cost. All other
revenues and expenses are reported as nonoperating.

48

Converse County, Wyoming
June 30, 2025
Notes to the Financial Statements

Note 1.

Nature of Operations and Significant Accounting Policies (Continued)

Assets, Liabilities, Deferred Inflows and Outflows of Resources, and Net Position/Fund Balance
(Continued)
Grants and Contributions
Revenues from grants and contributions (including contributions for capital assets) are recognized when all
eligibility requirements, including time requirements are met. Grants and contributions may be restricted for
either specific operating purposes or for capital purposes. Amounts that are unrestricted or that are restricted to
a specific operating purpose are reported as nonoperating revenues. Amounts restricted to capital acquisitions
are reported after nonoperating revenues and expenses.

Unearned Revenue/Refundable Advance
Revenue received in advance of the performance of services deemed to be exchange transactions is deferred
until such time as related expenditures are incurred and then recognized as revenue.

Uncompensated Care
Indigent Care - Wyoming Statute §18-08-106 requires Memorial Hospitals to provide “resident indigent patient
care” and assumes that such patients have an inability to pay for the medical services provided. Quite simply the
statute requires the Hospital to provide customary and usual medical services to these patients without
compensation. The term “Indigent” is not further defined in the statute but is generally construed to include
anyone in the county with the inability to pay for his or her medical care regardless of the reason. The statute
with subsequent amendments does not provide a mechanism for compensation to the Hospital. Total cost of
indigent care is calculated by multiplying the ration of cost to gross charges for the Hospital by the gross
uncompensated charges associated with those that qualify for the Hospitals financial assistance program. The
care provided to individuals that qualified for our financial assistance program had an estimated cost of
providing these services was approximately $2,940,000 for the year ended June 30, 2025.
Patient Related Bad Debt - the Hospital also provides care for those individuals either unwilling or unable to pay

for or apply for financial assistance are considered bad debt. The Hospital includes these within its definition of
uncompensated care. The foregone charges related to providing those services were approximately $5,943,000
for the year ended June 30, 2025. The cost of providing these services was approximately $2,892,000, for the
year ended June 30, 2025.

49

Converse County, Wyoming
June 30, 2025
Notes to the Financial Statements

Note 1.

Nature of Operations and Significant Accounting Policies (Continued)

Assets, Liabilities, Deferred Inflows and Outflows of Resources, and Net Position/Fund Balance
(Continued)
Qualified Rate Adjustments
The Hospital participates in the Wyoming Department of Health qualified rate adjustment payment program
under which the Hospitals in the state may elect to make intergovernmental transfers, as determined by the
state based on bed size and payor mix. The Wyoming Department of Health uses the intergovernmental transfer
to supplement state budget funds for the Medicaid program, which brings matching federal monies into the
program, enabling the State of Wyoming to fund Medicaid payments to the Hospitals at a higher rate than
would otherwise be possible. The Hospital paid approximately $907,000 for the year ended June 30, 2025, which
were recorded net of the related revenues. The Hospital received approximately $1,814,000 of supplemental
payments for the year ended June 30, 2025, which are recorded as part of net patient service revenue.
Receivable amounts related to this program were approximately $1,630,000 for the year ended June 30, 2025.

Accounting Estimates
The preparation of the financial statements requires management to make estimates and assumptions that
affect the reported amounts of assets and liabilities and disclosures of contingent liabilities at the date of the
financial statements and the reported amounts of revenues and expenses/expenditures during the reporting
period. Actual amounts could differ from estimates. It is reasonably possible that these estimates will change
within one year of the date of the financial statements due to one or more future events. The effect of the
change could be material to the financial statements and could result in a loss.

Budget
The County Commissioners annually adopt a budget and approve the related appropriations for the funds in
accordance with provisions of the Wyoming Statutes. Budgets are legally adopted for all of the component
units for the County’s discretely presented and blended component units. Annual appropriated budgets are
prepared on a basis of estimated cash receipts and cash disbursements and accounts payable. Unexpended and
unencumbered budgeted amounts and budget appropriations lapse at the end of the fiscal year. Encumbrances
are reappropriated in the ensuing year.
The County Commissioners exercise legal spending control at the departmental level. Any over-expenditures or
transfers of appropriations must be approved by them, as are all departmental budget amendments.
Management control is exercised at budgetary line-item levels. The County Commissioners and the governing
Boards of the component units may also amend the budget after it is approved, using the same procedures
necessary to approve the original budget. The budgetary data presented in the financial statements reflects the
approved budget.

50

Converse County, Wyoming
June 30, 2025
Notes to the Financial Statements

Note 1.

Nature of Operations and Significant Accounting Policies (Continued)

Assets, Liabilities, Deferred Inflows and Outflows of Resources, and Net Position/Fund Balance
(Continued)
Change in Reporting Entity
During the year ended June 30, 2025, further integration of the entities resulted in management of the Hospital
assuming full operational control and leadership of Summit Memorial Management (SMM). The change resulted
in SMM being subject to oversight and control of the Hospital. As a legally separate entity, SMM, inclusive of its
wholly owned subsidiaries, Summit Memorial Medical Group (SMMG) and Summit Medical Center (Summit) has
been reported as a blended component unit starting with the year ended June 30, 2025. AS of June 30, 2024, the
Hospital held and investment on SMM of approximately $12,809,000. As the entity has changed from discrete
presentation to blended presentation, no investment is recorded as of June 30, 2025, and the associated account
balances and activity of SMM are not contained within the financial reporting information of the Hospital.
Accordingly, there is no impact on net position related to this change in reporting entity. The related notes to
the financial statements include the balances and activity of SMM for both years presented.

Standards Issued and Implemented
As of July 1, 2024, the County adopted GASB Statement No. 101, Compensated Absences. The provisions align
recognition and measurement guidance for all types of compensated absences, including vacation, sick leave,
and other paid time off under a unified model, which resulted in governments recognizing a liability that more
appropriately reflects when an obligation for compensated absences occurred. The implementation required the
County to recognize a liability for certain leave benefits that were previously not recorded or measured
differently under prior guidance. The model is intended to provide greater consistency in application and
improved comparability across governments. The impact on net position was not significant to the County. As
such, no restatement of balances was deemed necessary.
As of July 1, 2024, the County adopted GASB Statement No. 102, Certain Risk Disclosures, which requires
management to evaluate whether there are risks related to a government’s vulnerabilities due to certain
concentrations or constraints that require disclosure. A concentration, as defined by Statement 102, is a lack of
diversity related to an aspect of a significant inflow or outflow of resources. A constraint is a limitation imposed
on a government by an external party or by formal action of the government’s highest level of decision-making
authority. The requirements of the Statement are effective for reporting periods beginning after June 15, 2024.
There was no impact on the fund balance or net position in the County due to the implementation of this
standard and primarily resulted in new and enhanced disclosures.

51

Converse County, Wyoming
June 30, 2025
Notes to the Financial Statements

Note 2.

Deposits

Custodial Credit Risk – Deposits
Custodial credit risk for deposits is the risk that, in the event of the failure of a depository institution, the County
will not be able to recover its deposits or will not be able to recover collateral securities that are in the
possession of an outside party. Wyoming state statutes require that the County’s deposits in excess of the
Federal depository insurance amount be collateralized. Deposits held in the County’s bank accounts are insured
by federal depository insurance or are collateralized with securities held by the pledging institution’s trust
department or agent, in joint custody of the bank and the County. All deposits were covered by insurance or
collateral held in joint custody with the financial institution.
At June 30, 2025, the County’s bank balance was $72,878,716 and the carrying amount of deposits was reported
in the financial statements as follows:
Government-Wide Statement of Net Position
Cash and cash equivalents
Restricted cash and cash equivalents
Non-negotiable certificates of deposit
Fiduciary Fund Statement of Net Position - County Custodial Fund
Cash and cash equivalents
Total carrying amount of deposits

Carrying Amount
$

$

37,831,786
703,104
17,800,511
15,166,000
71,501,401

At June 30, 2025, the County’s component units’ bank balance was $28,341,552 and the carrying amount of
deposits was reported in the financial statements as follows:

Government-Wide Statement of Net Position
Cash and cash equivalents
Restricted cash and cash equivalents
Non-negotiable certificates of deposit
Restricted investments
Total carrying amount of deposits

Carrying Amount
$

$

11,369,172
98,799
2,795,904
13,288,191
27,552,066

The difference between the carrying amount and the bank balance is the result of transactions in transit and
cash equivalents without a bank balance. All component unit’s bank balances were either fully insured or
collateralized as required by State statutes.

52

Converse County, Wyoming
June 30, 2025
Notes to the Financial Statements

Note 3.

Investments

As of June 30, 2025, the primary government of the County had the following investments:
Less
Investment Type

Total

Interest Rate

Than 1

1-5

6 - 10

7,050,777

$ 10,749,734

1,735,980

Rating

Non-negotiable
certificates of
deposit

$

17,800,511

.50 to 5.10%

3,708,065

.50 to 5.10%

$

$

-

N/A

1,972,085

-

N/A

Negotiable certificates
of deposit
GSE notes

51,602,752

1% - 5.65%

1,557,437

47,093,422

2,951,893

AA+

44,667

1.00%

44,667

-

-

N/A

WYO-STAR I

1,591,816

4.16%

1,591,816

-

-

Not rated

Wyoming CLASS

22,332,707

4.25%

22,332,707

-

-

Not rated

WGIF
Total

18,564,647
115,645,165

4.26% - 4.40%

18,564,647
$ 52,878,031

$ 59,815,241

2,951,893

Money market
State Treasurer's
Investment pools

$

$

AAAm

As of June 30, 2025, the component units of the County had the following investments excluding the Hospital’s
discretely presented component units:
Investment Type
Certificates of
deposit
Negotiable certificates
of deposit
WYO-STAR I
Insured cash
Total

Total

Interest Rate

$

13,821,961

2.60% - 4.25%
.40%-1.85%
4.160%
0.800%

$

123,884
2,527,454
54
16,473,353

Less
Than 1

1-5

$

2,493,958

$ 11,328,003

$

123,884
2,527,454
54
5,145,350

$ 11,328,003

6 - 10

Rating

$

-

N/A
N/A
Not rated
N/A

$

-

These investments are reported under the caption investments and restricted investments in the statement of
net position.

Credit Risk
Generally, credit risk is the risk that an investment will not fulfill its obligation to the holder of the investment.
This is measured by the assignment of a rating by a nationally recognized statistical rating organization. This is
measured by the assignment of a rating by a nationally recognized statistical rating organization. The County
has adopted Wyoming State statute §9-4-31 as their investment policy which limits investments to those with
highest credit rating from nationally recognized credit rating organizations.

53

Converse County, Wyoming
June 30, 2025
Notes to the Financial Statements

Note 3.

Investments (Continued)

Custodial Credit Risk – Investments
Custodial credit risk is the risk that, in the event of the failure of the counterparty, the County will not be able to
recover the value of its investments or collateral securities held in the possession of an outside party. Custodial
credit risk is for those investment securities that are uninsured, are not registered in the name of the
government, and are held by either (a) the counterparty or (b) the counterparty’s trust department or agent but
not in the government’s name. The County does not have a formal policy to address custodial credit risk. The
County does not have any investments that are not registered in the name of the County. Custodial credit risk
does not apply to a local government’s indirect investments in securities through the use of government
investment pools.

Concentration of Credit Risk
The concentration of credit risk is the risk of loss that may be caused by the County’s investments in a single
issuer. GASB 40 requires disclosure by issuer and amount of investments in any one issuer that represents five
percent (5%) or more of total investments for the County. The information presented below is based on
concentrations of investments in the County’s portfolio. Concentration risk does not arise in connection with U.S.
government obligation and obligations explicitly guaranteed by the U.S. government. Likewise, concentration
risk does not apply to positions in external investment pools, and similar pooled investments, which are
designed, in part, to provide diversification. The County does not have a formal policy for concentration of credit
risk.
At June 30, 2025, the County had 19% of its investments in non-negotiable certificates of deposit, 16% in WGIF,
1% in WYO-STAR I, 19% in Wyoming CLASS, and 45% in government sponsored enterprises. Of the nonnegotiable certificates of deposit 78% are held at one bank. The component units had 85% of their investments
in certificates of deposits and non-negotiable certificates of deposits, and 15% in WYO-STAR I.

Interest Rate Risk
Interest rate risk is the risk that changes in interest rates will adversely affect the fair value of an investment. The
County does not have a formal policy for interest rate risk. As a means of limiting its exposure to fair value losses
arising from interest rates, the County attempts to match its investment maturities with its expected cash flow
needs. With this investment focus, investments are expected to reach maturity with limited gains and losses.
Additionally, majority of the County’s investments are held in external investment pools with a focus on liquidity
as a means of limiting its exposure to fair value losses arising from interest rates.
Wyoming CLASS pool seeks to maintain a stable net asset value of $1.00. The funds' weighted average maturity
is limited to a maximum of 60 days and a weighted average life of 120 days. In our view, a portfolio's weightedaverage maturity is a key measure of a fund's tolerance and sensitivity to rising interest rates.
WGIF pool seeks to maintain a stable net asset value (NAV) of $1.00 and is managed to a maximum weighted
average maturity to reset (WAM(R)) of 60 days.

54

Converse County, Wyoming
June 30, 2025
Notes to the Financial Statements

Note 3.

Investments (Continued)

Interest Rate Risk (Continued)
The WYO-STAR I investment portfolio, as stated in its Master Investment Policy, maintains funds in a cash
portfolio and the rest in an extended cash portfolio, which may not exceed 35% of the market value of the
portfolio at the time of purchase. The cash portfolio seeks to maintain weighted average maturity not to exceed
90 days and all securities must have a maximum maturity of 365 days. The market value of the portfolio must
remain within +/-0.5% to 1% of amortized cost. The extended portfolio seeks to maintain maximum average
cash flow weighted duration not to exceed three years and individual securities must not exceed a cash flow
weighted duration of 5 years. Participants acknowledge there is a risk associated with investing in the pool and
there is no guaranteed rate of return.
Note 4.

Fair Value of Investments

The County categorizes its fair value measurements within the fair value hierarchy established by generally
accepted accounting principles. The hierarchy is based on valuation inputs used to measure the fair value of the
assets. Level 1 inputs are quoted prices in active markets for identical assets; Level 2 inputs are significant other
observable inputs; Level 3 inputs are significant unobservable inputs.
Following is a description of the valuation methodologies used for investments measured at fair value. There
have been no changes in the methodologies used at June 30, 2025:

Government sponsored enterprises (GSEs) notes: Valued using quoted prices for identical or similar assets in

active markets.

Negotiable certificates of deposit: Valued at closing price reported on the active market on which the
individual certificate of deposit is traded. If held to maturity, the certificates of deposit are redeemed at
purchased value.
Primary Government Investments
GSE notes
Negotiable certificates of deposit
Total investments at fair value

$
$

Level 1

Investments at Fair Value as of June 30, 2025
Level 2
Level 3
Total
$ 51,602,752
$
$ 51,602,752
3,708,065
3,708,065
$ 55,310,817
$
55,310,817

Other investments reported in the following classifications
Non-negotiable certificates of deposit
Wyoming CLASS
WYO-STAR I
WGIF
Money market
Total primary government investments

17,800,511
22,332,707
1,591,816
18,564,647
44,667
$ 115,645,165

55

Converse County, Wyoming
June 30, 2025
Notes to the Financial Statements

Note 4.

Fair Value of Investments (Continued)

Component Unit Investments

Negotiable certificates of deposit
Total investments at fair value

$
$

Level 1

Investments at Fair Value as of June 30, 2025
Level 2
Level 3
Total
$
123,884
$
$
123,884
$
123,884
$
123,884

Other investments reported in the following classifications
Certificates of deposit
WYO-STAR I
Insured cash
Total component unit investments

13,821,961
2,527,454
54
16,473,353

$

Beneficial Interest in Assets Held by Others
Converse County Library Foundation transferred investments to the Wyoming Community Foundation specifying
itself as the beneficiary. The Wyoming Community Foundation ("WCF") is a Wyoming not-for-profit organization.
WCF established the Converse County Library Endowment fund to account for these permanently restricted
contributions. WCF is required to make distributions of interest and dividend income to the Converse County
Library Foundation and other contributions that might be made in the future for the benefit of the Converse
County Library Foundation annually. The Converse County Library Foundation received distributions of $4,201
during the year ended June 30, 2025. In accordance with the professional accounting standards, the Foundation
recorded its beneficial interest in the WCF fund and recorded as permanently restricted those contributions
received by the WCF for the benefit of the Foundation. Converse County Library Foundation's beneficial interest
in assets held at WCF was $298,193 as of June 30, 2025.
Note 5.

Interfund Balances and Transfers

Interfund and intra-entity receivables and payables at June 30, 2025 are as follows:
General Fund
County Roads Fund
Nonmajor Special Revenue Funds

Receivable
52,180
4,768
$
56,948

$

$

$

Payable
5,525
13,473
37,950
56,948

56

Converse County, Wyoming
June 30, 2025
Notes to the Financial Statements

Note 5.

Internal Balances and Transfers (Continued)

The outstanding balances between funds results mainly from the time lag between the dates that (1) interfund
goods and services are provided or reimbursable expenditures occurred, (2) transactions are recorded in the
accounting system, and (3) payments between funds are made. Operating transfers during the year were as
follows:
Transfers In
439,489
14,901,164
15,410,442
1,361,535
1,201
$ 32,113,831

General Fund
County Roads Fund
Capital Projects Fund
Joint Justice Center Joint Powers Board
Nonmajor Special Revenue Funds

$

Transfers Out
$ 31,160,161
953,670
$ 32,113,831

Transfers were made to (1) move revenues from the funds that statute or budget requires expending them, and
(2) use unrestricted revenues collected in the general fund to finance various programs accounted for in other
funds in accordance with budgetary restrictions.
Note 6.

Capital Assets

Primary Government
Capital asset activity for the governmental activities for the year ended June 30, 2025, was as follows:

Capital assets, not being depreciated
Land
Infrastructure
Construction in progress
Total capital assets, not being
depreciated

$

Beginning
Balance

Transfers
and Additions

Transfers
and Deletions

1,680,893
49,309,779
37,191,125

$

$

65,000
14,371,273
23,632,382

14,371,273

Ending
Balance
$

1,745,893
63,681,052
46,452,234

88,181,797

38,068,655

14,371,273

111,879,179

Capital assets, being depreciated
Buildings and building improvements
Machinery, equipment, and office fixtures

42,586,099
24,539,717

188,702
1,665,060

232,756

42,774,801
25,972,021

Total capital assets, being depreciated

67,125,816

1,853,762

232,756

68,746,822

Less accumulated depreciation for
Buildings and building improvements
Machinery, equipment, and office fixtures

10,351,281
12,630,070

1,215,694
1,522,752

196,101

11,566,975
13,956,721

22,981,351

2,738,446

196,101

25,523,696

44,144,465
$ 132,326,262

(884,684)
$ 37,183,971

36,655
$ 14,407,928

43,223,126
$ 155,102,305

Total accumulated depreciation
Total capital assets, being
depreciated, net
Governmental activities, capital assets, net

57

Converse County, Wyoming
June 30, 2025
Notes to the Financial Statements

Note 6

Capital Assets (Continued)

The County has $1,247,343 in assets acquired under lease purchase obligations with accumulated depreciation
of $254,987. The depreciation expense on these assets for the fiscal year ended June 30, 2025 was $98,705.
Depreciation expense was charged to the functions/programs of the primary government as follows:
Governmental activities
General government
Public safety
Public works
Health, welfare, and recreation
Total depreciation expense - governmental activities

$

303,204
35,896
1,227,669
1,171,677
2,738,446

$

Component Units
Capital asset activity for the Converse County Airport for the year ended June 30, 2025, was as follows:

Capital assets, not being depreciated
Land
Construction in progress
Total capital assets, not being
depreciated
Capital assets, being depreciated
Improvements other than buildings
including hangars, runways and taxiways
Buildings
Machinery, equipment
and office fixtures
Total capital assets, being
depreciated
Less accumulated depreciation
Total capital assets, being
depreciated, net
Capital assets, net

Beginning
Balance
$

$

2,741,061
319,359

Transfers and
Additions

Transfers and
Deletions

$

$

5,133,882

282,947

Ending
Balance
$

2,741,061
5,170,294

3,060,420

5,133,882

282,947

7,911,355

19,811,209
612,841

-

-

19,811,209
612,841

282,438

282,947

-

565,385

20,706,488
14,418,052

282,947
629,842

-

20,989,435
15,047,894

6,288,436
9,348,856

(346,895)
$ 4,786,987

282,947

5,941,541
$ 13,852,896

$

The construction in progress for the Airport represents costs related to runway upgrades, hanger construction,
and fuel farm upgrades. Signed contracts at June 30, 2025 for these projects approximately $5,539,000. Funding
for these projects is anticipated to include state and federal grants as well as airport generated revenue and
taxes.

58

Converse County, Wyoming
June 30, 2025
Notes to the Financial Statements

Note 6

Capital Assets (Continued)

Component Units (Continued)
Capital asset activity for the Converse County Weed and Pest Control District for the year ended June 30, 2025,
was as follows:
Beginning
Balance
Capital assets, not being depreciated
Land
Construction in progress
Total capital assets, not being
depreciated
Capital assets, being depreciated
Buildings and improvements
Machinery, equipment
and office fixtures
Total capital assets, being
depreciated, net
Less accumulated depreciation
Total capital assets, being
depreciated, net
Capital assets, net

$

$

12,000
19,438

Transfers and
Additions

Transfers and
Deletions

$

$

-

19,438

Ending
Balance
$

12,000
-

31,438

-

19,438

12,000

846,537

43,195

-

889,732

400,936

141,382

-

542,318

1,247,473

184,577

-

1,432,050

536,224

54,946

-

591,170

711,249
742,687

$

129,631
129,631

$

19,438

$

840,880
852,880

Capital asset activity for the Library for the year ended June 30, 2025, was as follows:

Capital assets, not being depreciated
Land
Total capital assets, not being
depreciated

Beginning
Balance
$

100,600

Transfers and
Additions

Transfers and
Deletions

$

$

-

-

Ending
Balance
$

100,600

100,600

-

-

100,600

Capital assets, being depreciated
Buildings and building improvements
Machinery, equipment and office fixtures
Collection
Total capital assets,
being depreciated

20,610,402
570,471
861,740

75,344

3,603
38,610

20,610,402
566,868
898,474

22,042,613

75,344

42,213

22,075,744

Less accumulated depreciation

4,234,373

550,384

38,610

4,746,147

Total capital assets, being
depreciated, net
Capital assets, net

17,808,240
$ 17,908,840

(475,040)
(475,040)

3,603
3,603

17,329,597
$ 17,430,197

$

$

59

Converse County, Wyoming
June 30, 2025
Notes to the Financial Statements

Note 6.

Capital Assets (Continued)

Component Units (Continued)
Capital asset activity for the Hospital, excluding the Hospital’s discretely presented component units, for the year
ended June 30, 2025, was as follows:

Capital assets, not being depreciated
Land
Construction in progress
Total capital assets, not being
depreciated
Capital assets, being depreciated
Improvements other than buildings
Building
Equipment and vehicles
Right-to-use leased assets being amortized
Equipment
Total capital assets, being
depreciated, net
Less accumulated depreciation
Total capital assets, being
depreciated, net
Capital assets, net

Beginning
Balance
$

3,203,956
2,157,524

Transfers and
Additions

Transfers and
Deletions

$

$

2,754,623

1,089,388

Ending
Balance
$

3,203,956
3,822,759

5,361,480

2,754,623

1,089,388

7,026,715

155,984
47,598,249
53,346,554

562,662
585,715

435,059
1,437,564

155,984
47,725,852
52,494,705

3,992,451

4,303,355

566,926

7,728,880

105,093,238
77,962,872

5,451,732
4,799,236

2,439,549
784,245

108,105,421
81,977,863

27,130,366
$ 32,491,846

652,496
$ 3,407,119

1,655,304
$ 2,744,692

26,127,558
$ 33,154,273

Construction in progress on June 30, 2025 represents the electronic medical record system upgrade, for which
are no contractually committed amounts, however significant additional expenditures are anticipated.
Note 7.

Leases

Lessor
The Airport is the lessor for several hangar leases. For leases with a maximum possible term of 12 months or less
at commencement, the Airport recognizes income based on the provision of the lease contract. For all leases (i.e.
those that are not short-term), the related lease receivables and deferred inflows of resources are recognized at
the present value of future lease payments expected to be received during the lease term using the Airport’s
incremental borrowing rate. The deferred inflow of resources is amortized on a straight-line basis over the term
of the lease. The Airport monitors changes in circumstances that would require a remeasurement of its leases
and will remeasure the lease receivable and deferred inflows or resources if certain changes occur that are
expected to significantly affect the amount of the lease receivable.

60

Converse County, Wyoming
June 30, 2025
Notes to the Financial Statements

Note 7.

Leases (Continued)

Lessor (Continued)
The Airport entered into a lease agreement with a third-party effective January 1, 2001. As part of consideration
for this lease agreement the lessee agreed to construct a hangar building at its sole expense on airport property.
The hangar and improvements will become attached to the real property at the end of the term of the lease and
shall at that time automatically vest and become property of the Airport.
The term of the lease is for a period of forty years from January 1, 2001. Upon termination of this lease, the
lessee has right of first refusal to enter into a rental agreement with the Board for the hangar for an additional
term and rental amount that is comparable to other hangar leases existing at the Airport. The lease has a
monthly payment owed of $100 plus a $48 Consumer Price Index (CPI) adjustment for a total monthly payment
of $148 for the period of January 1, 2021, through December 31, 2025. At the end of this five-year period, the
CPI amount will be adjusted for current rates for the next five-year increment.
As of June 30, 2025, the value of the lease receivable is $16,005 and the related deferred inflows is $15,415.
During the year ended June 30, 2025, the Airport recognized lease revenue of approximately $990, interest
revenue of approximately $330 and other revenue, related to the CPI adjustment of approximately $580 under
this lease.
In addition, during the entire term of the lease the lessee agrees to pay the Airport and additional rent of $400 a
month, which shall be used by the Board for the lessee-cost share percentage of Federal Aviation Administration
(FAA) grants for resurfacing runways, taxiways, ramps or other capital improvement projects at the airport. The
additional rent amount will not be paid until the FAA has awarded grant or grants to the Airport and the Airport
cost share for such grants are due to the FAA. The amount due to the Airport in relation to this agreement
totaled $48,000 at June 30, 2025.
The Airport entered into a lease agreement with a related party effective December 9, 2024. The Airport’s
manager is the owner of the company which leases shop and office space from the Airport. The term of the lease
is for a period of five years from December 9, 2024, with an additional five-year renewal option. The lease has a
monthly payment owed of $469. As of June 30, 2025, the value of the lease receivable is $24,096 and the related
deferred inflows is $23,472. During the year ended June 30, 2025, the Airport recognized lease revenue of
approximately $5,290 and interest revenue of approximately $390 under this lease.
The Airport entered into a lease agreement with a third-party effective October 1, 2023. The third party will lease
a hangar on the Airport property. The term of the lease is for a period of forty years from October 1, 2023. Upon
termination of this lease, the lessee has right of first refusal to enter into a rental agreement with the Board for
the hangar for an additional term and rental amount that is comparable to other hangar leases existing at the
Airport. The lease has a monthly payment of $110. As of June 30, 2025, the value of the lease receivable is
$23,143 and the related deferred inflows are $22,472. During the year ended June 30, 2025, the Airport
recognized lease revenue of approximately $590 and interest revenue of approximately $1,100 under this lease.

61

Converse County, Wyoming
June 30, 2025
Notes to the Financial Statements

Note 7.

Leases (Continued)

Lessor (Continued)
As of June 30, 2025, principal and interest expected to maturity were as follows:
Year Ending June 30,
2026
2027
2028
2029
2030
2031-2035
2036-2040
2041-2045
2046-2050
2051-2055
2056-2060
2061-2063
Total minimum lease payments

Note 8.

$

$

Principal
6,428
6,534
6,638
6,752
3,566
6,632
7,579
3,044
3,110
3,955
5,027
3,979
63,244

$

$

Interest
1,723
1,617
1,513
1,399
1,300
5,968
5,021
4,156
3,490
2,645
1,573
311
30,716

Long-Term Debt

County
The Wyoming Constitution (Article 16 §3) limits the amount of indebtedness for any County to not more than
two percent of the last general assessment. This limit was $71,206,309 at June 30, 2025. The County had no
outstanding debt subject to this limitation.

Primary Government
The following is a summary of changes in long-term debt of the County for the year ended June 30, 2025:

Primary Government
Governmental activities
Ad valorem note payable
Lease purchase obligation
Incurred but not reported
claims payable
Compensated absences
Net pension liability

Balance
June 30, 2024
$

377,200
966,380

138,588
468,172
9,215,689
$ 11,166,029

New Debt
Incurred
$

$

221,412
426,105
647,517

$

$

Debt
Retired

Balance
June 30, 2025

32,800
114,783

$

98,958
246,541

360,000
894,277
9,116,731
$ 11,567,005

344,400
851,597

Due Within
One Year
$

$

32,800
121,657
845,374
999,831

62

Converse County, Wyoming
June 30, 2025
Notes to the Financial Statements

Note 8.

Long-Term Debt (Continued)

Purchase lease obligations, ad valorem note payable, and compensated absences which are liabilities of the
primary government are generally liquidated by the general fund. The incurred but not reported claims are paid
by the internal service fund.

Ad Valorem Note Payable
In April 2022, the County entered into a $960,000 loan agreement at a 0% interest rate with the State of
Wyoming for relief from a potential funding shortfall resulting from Wyoming SF60 legislative change. The loan
is due in yearly installments of 8% of the loaned amount and a final payment of 4%. The loan matures on
December 15, 2035. The County passed the loan proceeds to the Weed and Pest, Glenrock Cemetery, and
Conservation Districts. The repayment of the notes receivable to the County will be handled through the
reduction of the tax distribution to these entities in the amount of the proportionate loan repayment each year.
The County’s custodial fund is managing the reduction of the tax distributions and repayment of the State loan.
Both Weed and Pest and Glenrock Conservation District elected to reduce their tax distributions by the full
amount of their outstanding notes receivable to the County and have paid their notes in full. Glenrock Cemetery
District’s paid $32,800 on their note receivable to the County through the reduction of their tax distribution. At
June 30, 2025, the outstanding balance of the note payable to the State was $344,400 with the same amount
due on the note receivable from Glenrock Cemetery District. The annual payments of $32,800 are due in each
fiscal year from 2023 to 2035 and a $16,400 payment in the 2036 fiscal year.

Lease Purchase Obligation
In March of 2023, the County has entered into a lease purchase obligation for three motor graders. The lease
agreement requires annual payments of $172,668 with interest at 5.99% and matures on April 1, 2029, with a
final payment of $321,120. The motor graders are collateral for the lease. Lease payment requirements to
maturity for the years ending June 30, are as follows:
Year Ending June 30,
2026
2027
2028
2029
2030

$

$

Principal
121,657
128,945
136,669
144,854
319,472
851,597

$

$

Interest
51,011
43,723
36,000
27,813
1,648
160,195

63

Converse County, Wyoming
June 30, 2025
Notes to the Financial Statements

Note 8.

Long-Term Debt (Continued)

Component Units
The following is a summary of changes in long-term debt of the component units, excluding the Hospital’s
discretely presented component units, for the year ended June 30, 2025:

Component Units
Notes payable
Lease purchase obligation
Compensated absences
Net pension liability

Balance
June 30, 2024
$ 35,411,388
3,300,567
3,243,653
1,162,488
$ 43,118,096

New Debt
Incurred

Debt
Retired

Balance
June 30, 2025

4,303,355
365,143
$ 4,668,498

$ 4,662,978
2,492,863
444
146,284
$ 7,302,569

$ 30,748,410
5,111,059
3,608,352
1,016,204
$ 40,484,025

$

Due Within
One Year
$

4,620,498
2,593,190
3,557,243
$ 10,770,931

Notes payable and leases include long-term debt related to the Hospital’s discretely presented component unit
and the detail is not included in the County’s financial statements. The Hospital’s and Weed and Pest’s long-term
debt is detailed below.
The Hospital borrowed $8,500,000 in 2015 in order to complete construction of the new medical office building.
The note payable was extended in 2023, increasing the loan amount by approximately $10,000,000 at an interest
rate of 3.25%. The note matures in December 2029. The Hospital has pledged certificates of deposit as collateral
for the full amount of the outstanding notes payable. The note includes a provision allowing the Hospital to
make additional draws. No additional draws were made during 2025.
The Hospital (SMC) borrowed $25,000,000 in 2022 maturing in May 2032 to fund operations at an interest rate
of 4.00%, unsecured.
The Hospital (SMC) also borrowed $1,440,000 in 2023 maturing in December 2047 with an interest rate of 6.9%
secured by land.
The Hospital has a line of credit with a balance of $1,644,729 with an interest rate of 5.75%, with a maximum
draw of $1,800,000.
Note payment requirements to maturity for the years ending June 30 are as follows:
Year Ending June 30,
2026
2027
2028
2029
2030
2031-2035
2036-2040
2041-2045
2046-2050

$

$

Principal
4,620,498
4,523,729
4,694,584
4,876,319
4,199,543
6,815,216
306,608
432,807
279,106
30,748,410

$

$

Interest
1,141,763
975,063
804,208
622,474
439,331
666,852
235,144
178,053
26,323
5,089,211

64

Converse County, Wyoming
June 30, 2025
Notes to the Financial Statements

Note 8.

Long-Term Debt (Continued)

Component Units (Continued)
The Hospital entered into lease agreements for certain equipment. The Hospital is required to make principal
and interest payments through June 2027. The lease agreements have interest rates between 3.00% and 3.50%.
Schedule principal and interest repayments on leases are as follows:
Year Ending June 30,
2026
2027
Total minimum lease payments

Note 9.

$
$

Principal
2,593,190
2,517,869
5,111,059

$
$

Interest
181,844
72,900
254,744

Defined Benefit and Contribution Pension Plans

Pension Plan Fiduciary Net Position
The Wyoming Retirement System issues a publicly available financial report which includes audited financial
statements and required supplementary information for each plan. Detailed information about the pension
plans’ fiduciary net position is available in separately issued Wyoming Retirement System financial report. The
report may be obtained from the Wyoming Retirement System website at http://retirement.state.wy.us.
All eligible County employees are covered under one of the two following retirement plans:

Public Employees’ Pension Plan
The County participates in the Public Employees’ Pension Plan ("PEPP"), a cost-sharing multiple-employer
defined benefit, contributory retirement plan covering substantially all employees of the State and of the PublicSchool Systems of Wyoming. The Plan also covers employees of those political subdivisions and other statutorily
allowed entities which have elected to participate in the Plan. Substantially all County full-time employees are
eligible to participate.
PEPP members are statutorily required to contribute 9.25% of their annual covered salary and the employer is
required to contribute 9.37% of the annual covered payroll for a total of 18.62%. Legislation enacted in 1979
allows the employer to subsidize all or part of the employee contribution. The County currently pays 100% of the
required contribution. Although paid by the County, for purposes of recording the net pension liability these
additional contributions are considered to be employee contributions. The County’s contributions to the PEPP
plan for the year ended June 30, 2025, were $1,224,022, equal to the required contributions for the year.
For the year ended June 30, 2025, the County’s, statutorily required contributions to the PEPP pension plan were
$615,955.
The County’s component units, Weed and Pest, the Airport, and the Library currently pay all of the required
employees’ contribution. The Weed and Pest’s contributions to PEPP for the year ended June 30, 2025, were
$38,820. The Library’s contributions to PEPP for the year ended June 30, 2025, were $149,902. The Airport’s
contributions to PEPP for the year ended June 30, 2025 were $13,000.

65

Converse County, Wyoming
June 30, 2025
Notes to the Financial Statements

Note 9.

Defined Benefit and Contribution Pension Plans (Continued)

Public Employees’ Pension Plan (Continued)
For the year ended June 30, 2025, the component units statutorily required contributions to the PEPP pension
plan were $101,571.
As of July 1, 2025, the statutory required contribution rate will not increase for the employer or the employee for
the PEPP plan.
The amount of contributions designated as employee contributions represents the portion of total contributions
that a participant retains ownership of and can elect to receive as a refund upon termination of employment.
Employers can elect to cover all or a portion of the employee's contribution at their discretion. Through
legislation passed during the 2014 legislative session, two tiers of benefits were established for participants of
this plan.
•

Tier 1, the Plan allows for normal retirement after four years of service and attainment of age 60. Early
retirement is allowed provided the employee has completed four years of service and attained age 50 or
25 years of service but will result in a reduction of benefits based on the length of time remaining to age
60.

•

Tier 2, the Plan allows for normal retirement after four years of service and attainment of age 65. Early
retirement is allowed provided the employee has completed four years of service and attained age 55,
or 25 or more years of service but will result in a reduction of benefits based on the length of time
remaining to age 65.

All employees may also retire upon normal retirement when the sum of the member’s age and service is at least
85.
Benefits are established by Title 9, Chapter 3 of the Wyoming Statutes. The PEPP provides retirement, disability
and death benefits according to predetermined formulas and allows retirees to select one of the seven optional
methods for receiving benefits, including two joint and survivor forms of benefits: a 100% joint and survivor
annuity, and a 50% joint and survivor annuity. The benefit amounts under these options are determined on an
actuarially equivalent basis. The State Legislature must grant any cost of living (COLA) adjustment provided to
retirees. In addition, a COLA will not be approved by the legislature unless the plan is 100% funded after the
COLA is awarded.
Employees terminating prior to normal retirement can elect to withdraw all employee contributions and
accumulated interest through date of termination or, if they are vested, they may elect to remain in the Plan and
be eligible for unreduced retirement benefits at age 60 (Tier 1 employee) or 65 (Tier 2 employee).

Law Enforcement Pension Plan
The County participates in the Wyoming Law Enforcement Pension Plan (“LEPP”), a cost sharing, multipleemployer defined benefit, contributory retirement plan covering any county sheriff, deputy county sheriff,
municipal police officer, Wyoming correctional officer, Wyoming law enforcement academy instructor, University
of Wyoming campus police office, detention officer or dispatcher for law enforcement agencies and certain
investigators of the Wyoming Livestock Board, Wyoming Gaming Commission and Wyoming Board of Outfitters.
On July 1, 2023, full-time state park rangers were added as members of the Law Enforcement Pension Plan.
66

Converse County, Wyoming
June 30, 2025
Notes to the Financial Statements

Note 9.

Defined Benefit and Contribution Pension Plans (Continued)

Pension Plan (Continued)
LEPP members are statutorily required to contribute 9.50% of their annual covered salary and the employer is
statutorily required to contribute 9.50% of the annual covered payroll for a total of 19.00%. Legislation enacted
in 1979 allows the employer to subsidize all or part of the employee contribution. The County has elected to
contribute 100% of the contributions on behalf of eligible employees. Although paid by the County, for
purposes of recording the net pension liability these additional contributions are considered to be employee
contributions. The County’s contributions to the LEPP plan for the year ended June 30, 2025, were $787,348
equal to the required contributions for the year.
For the year ended June 30, 2025, the County’s statutorily required contributions to the LEPP pension plan were
$393,674. As of July 1, 2025, there will be .90% increase in employee and employer statutorily required
contribution rates. The statutorily required contribution rates will increase from 9.5% to 10.4%.
The LEPP statutorily provides retirement, disability and death benefits according to predetermined amounts
determined by salary, age and years of service. The State Legislature must grant any COLA provided to retirees.
In addition, a COLA will not be approved by the legislature unless the plan is 100% funded after the COLA is
awarded. Participants may withdraw from the LEPP at any time and receive refunds of participant contributions
and accumulated interest.

Pension Liabilities, Pension Expense, and Deferred Outflows of Resources and Deferred Inflows of
Resources Related to Pensions
As of June 30, 2025, the County reported a total liability of $9,116,731 for its proportionate share of the net
pension liability. The County’s component units: Library, Weed and Pest, and Airport reported: $775,264,
$175,545, and $65,395, respectively, for their proportionate share of the net pension liability. The net pension
liability was determined by an actuarial valuation as of January 1, 2024, applied to all prior periods included in
the measurement. Actuarial valuation involves estimates of the reported amounts and assumptions about the
probability of occurrence of events far into the future. Amounts determined regarding the net pension liability
are subject to continual revision as actual results are compared with past expectations and new estimates are
made about the future. An experience study was conducted covered the five-year period ending December 31,
2020. The net pension liability as of December 31, 2024, is based on the results of an actuarial valuation as of
January 1, 2024, rolled forward to a measurement date of December 31, 2024.

67

Converse County, Wyoming
June 30, 2025
Notes to the Financial Statements

Note 9.

Defined Benefit and Contribution Pension Plans (Continued)

Pension Liabilities, Pension Expense, and Deferred Outflows of Resources and Deferred Inflows of
Resources Related to Pensions (Continued)
The schedule below shows the County’s proportionate share of the net pension liability at June 30, 2025, the
proportionate portion at the measurement date of December 31, 2024, and the change in the proportion from
the previous measurement date.
Pension
liability at
June 30, 2025

Proportion at
December 31, 2024

Increase
(decrease) from
December 31, 2023

County
Public Employees' Pension Plan

$

6,304,913

0.30231080%

0.019915200%

County - Sheriff
Law Enforcement Pension Plan

$

2,811,818

2.09344810%

0.017113100%

Public Employees' Pension Plan
Library

$

775,264

0.03717270%

-0.000927200%

Weed and Pest

$

175,545

0.00841710%

-0.001416900%

Airport

$

65,395

0.00313560%

-0.000132900%

For the year ended June 30, 2025, the County and its component units Library, Weed and Pest, and Airport
recognized pension expense of $786,064, $63,867, $24,299, and $2,300, respectively.

68

Converse County, Wyoming
June 30, 2025
Notes to the Financial Statements

Note 9.

Defined Benefit and Contribution Pension Plans (Continued)

Pension Liabilities, Pension Expense, and Deferred Outflows of Resources and Deferred Inflows of
Resources Related to Pensions (Continued)
At June 30, 2025, the County reported deferred outflows of resources and deferred inflows of resources related
to pensions from the following sources:
Deferred Outflows (Inflows) of Resources
Net difference
between projected
and actual earnings
on pension plan
investments
Changes in
assumptions
Difference between
actual and expected
experience rate
Change in
employer's proportion
Amortizing deferred
outflows and
deferred inflows
Contributions
subsequent to the
measurement date
Total

PEPP

$

-

$

-

LEPP

(798,262)

$

-

$

(551,147)

Total

Total

Outflows

(Inflows)

$

-

$ (1,349,409)

-

219,657

(2,056,549)

219,657

(2,056,549)

408,818

(7,590)

531,764

(70,385)

940,582

(77,975)

606,751

-

43,461

(12,003)

650,212

(12,003)

794,882

(2,690,084)

1,810,451

(3,495,935)

1,015,569

(805,852)

308,389
$ 1,323,958

$

(805,852)

199,287
$

994,169

$ (2,690,084)

507,676
$ 2,318,127

$ (3,495,935)

The County reported $507,676 as deferred outflows of resources related to contributions subsequent to the
measurement date, which will be recognized as a reduction of the net pension liability in the year ended June 30,
2026.
Other amounts reported as deferred outflows of resources and deferred inflows of resources related to pensions
will be recognized in pension expense as follows:
Year ended June 30,
2026
2027
2028
2029

$

$

PEPP
193,700
608,868
(391,117)
(201,734)
209,717

$

$

LEPP
(1,069,579)
(425,342)
(263,761)
(136,520)
(1,895,202)

69

Converse County, Wyoming
June 30, 2025
Notes to the Financial Statements

Note 9.

Defined Benefit and Contribution Pension Plans (Continued)

Pension Liabilities, Pension Expense, and Deferred Outflows of Resources and Deferred Inflows of
Resources Related to Pensions (Continued)
The County’s component units, Library, Weed and Pest, and Airport reported $40,072, $19,688, and $3,283
respectively, as deferred outflows of resources related to pensions resulting from County contributions
subsequent to the measurement date will be recognized as a reduction of the net pension liability in the year
ended June 30, 2025. Other amounts reported as deferred outflows of resources and deferred inflows of
resources related to pensions will be recognized in pension expense as follows:
Deferred
Outflows

Library

Net difference between project and actual earnings on pension
plan investments
Difference between actual and expected experience rate
Change in employer's proportion
Amortizing deferred outflows and deferred inflows
Contributions subsequent to the measurement date
Total

$

$

Weed and Pest
Net difference between projected and actual earnings on pension
plan investments
Difference between actual and expected experience rate
Change in employer's proportion
Amortizing deferred outflows and deferred inflows
Contributions subsequent to the measurement date
Total

$

$

Deferred
Outflows
$

$

Airport
Net difference between projected and actual earnings on pension
plan investments
Difference between actual and expected experience rate
Change in employer's proportion
Amortizing deferred outflows and deferred inflows
Contributions subsequent to the measurement date
Total

50,269
21,491
71,760
40,072
111,832

Deferred
(Inflows)

11,471
11,471
19,688
31,159

Deferred
(Inflows)
$

$

Deferred
Outflows
$

$

4,276
5,371
9,647
3,283
12,930

(98,156)
(933)
(15,317)
(114,406)
(114,406)

(11,758)
(48,376)
(60,134)
(60,134)
Deferred
(Inflows)

$

$

(7,765)
(87)
(9,883)
(17,735)
(17,735)

70

Converse County, Wyoming
June 30, 2025
Notes to the Financial Statements

Note 9.

Defined Benefit and Contribution Pension Plans (Continued)

Pension Liabilities, Pension Expense, and Deferred Outflows of Resources and Deferred Inflows of
Resources Related to Pensions (Continued)
Other amounts reported as deferred outflows of resources and deferred inflows of resources related to pensions
for the County’s component units will be recognized in pension expenses as follows:
Year ended
June 30,
2026
2027
2028
2029

$

$

Library
(7,205)
49,912
(60,547)
(24,806)
(42,646)

Weed and
Pest
$ (14,080)
8,578
(31,092)
(12,069)
$ (48,663)

$

$

Airport
(3,557)
3,012
(5,452)
(2,091)
(8,088)

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71

Converse County, Wyoming
June 30, 2025
Notes to the Financial Statements

Note 9.

Defined Benefit and Contribution Pension Plans (Continued)

Actuarial Assumptions
The total pension liability in the December 31, 2024 measurement date was determined using the following
actuarial assumptions, applied to all periods included in the measurement:
Valuation Date
Actuarial cost method
Amortization method
Remaining amortization period
PEPP
LEPP
Asset valuation method
Inflation
Salary increases
PEPP
LEPP
Payroll growth rate
Cost of living increase
Investment rate of return
Retirement Age

Post-Retirement Mortality
(PEPP)

Post-Retirement Mortality
(LEPP)

Pre-Retirement Mortality
(PEPP)

Pre-Retirement Mortality
(LEPP)

Actuarial Assumptions and Methods
January 1, 2024
Entry Age Normal
Level Percentage of Payroll, Closed
23 years
20 years
5 year smoothed market
2.25%
2.5% to 6.5%, including inflation
5.25% to 9.25%, including inflation
2.50%
0.00%
6.80%
Experience-based table of rates that are specific to the type of eligibility
condition. Last updated for the 2022 valuation pursuant to an experience study
of the period 2016-2020.
Pub-2010 General Healthy Annuitant Mortality Table, amount-weighted, fully
generational, projected with the MP-2020 Ultimate Scale
Males: No set back with a 100% multiplier
Females: No set back with a 103% multiplier
Pub-2010 Safety Healthy Annuitant Mortality Table, amount-weighted, fully
generational, projected with the MP-2020 Ultimate Scale
Males: No set back with a 100% multiplier
Females: No set back with a 100% multiplier
Pub-2010 General Employee Mortality Table, amount-weighted, fully
generational, projected with the MP-2020 Ultimate Scale
Males: No set back with a 100% multiplier
Females: No set back with a 100% multiplier
Pub-2010 Safety Employee Mortality Table, amount-weighted, fully
generational, projected with the MP-2020 Ultimate Scale
Males: No set back with a 100% multiplier
Females: No set back with a 100% multiplier

72

Converse County, Wyoming
June 30, 2025
Notes to the Financial Statements

Note 9.

Defined Benefit and Contribution Pension Plans (Continued)

Actuarial Assumptions (Continued)
The plan’s trustees adopted the assumed rate of investment return after considering input from the plan’s
investment consultant(s) and actuary(s). Additional information about the assumed rate of investment return is
included in the WRS actuarial valuation report as of January 1, 2024. In addition, a five-year experience study was
completed as of December 31, 2020, and this study provides a detailed analysis regarding recommendations on
the long-term rates for inflation and the real rate of return. The assumed rate of investment return of 6.80% (real
return net of inflation of 4.55%) falls within a reasonable range of the long-term expected rate of return.
The long-term expected rate of return on pension plan investments was determined using a building-block
method in which expected future real rates of return (expected arithmetic returns, net of pension plan
investment expense and inflation) are developed for each major asset class. These real rates of return are
combined to produce the long-term expected rate of return by weighting the expected future real rates of
return by the target asset allocation percentage and by adding expected inflation. Each major asset class is
included in the pension plans target asset allocation for the fiscal year 2024. These best estimates are
summarized in the following table:

Asset Class

Cash
Gold
Fixed income
Equity
Marketable alternatives
Private real assets
Total

Target
Allocation
0.50%
1.50%
20.00%
51.50%
16.00%
10.50%
100.00%

Long-Term
Expected
Geometric Real
Rate of Return
0.41%
2.33%
3.79%
6.51%
4.54%
6.23%
5.53%

Long-Term
Expected
Arithmetic Real
Rate of Return
0.40%
0.90%
4.22%
8.19%
5.38%
7.74%
6.75%

Discount Rate
The discount rate used to measure the Public Employees Plan and the Law Enforcement Plan total pension
liability was 6.80%. Projected benefit payments are required to be discounted to their actuarial present values
using a single discount rate that reflects 1) a long-term expected rate of return on pension plan investments (to
the extent that the plan’s fiduciary net position is projected to be sufficient to pay benefits using a 100 year
analysis) and 2) tax-exempt municipal bond rate based on an index of 20 year general obligation bonds with an
average AA credit rating (which is published by the Federal Reserve) as of the measurement date (to the extent
that the contributions for use with the long-term expected rate of return are not met).
For purposes of this valuation, the expected rate of return on pension plan investments is 6.80%, the municipal
bond rate is 4.08% (based on the daily rate closest to but not later than the measurement date of the Bond
Buyer “20-Year GO Bond Index”); and the resulting single discount rates listed above.

73

Converse County, Wyoming
June 30, 2025
Notes to the Financial Statements

Note 9.

Defined Benefit and Contribution Pension Plans (Continued)

Actuarial Assumptions (Continued)
Sensitivity of the County’s Proportionate Share of the Net Pension Liability to Changes in the Discount
Rate
The following table represents the County’s proportionate share of the net unfunded pension liability for each
plan calculated using the discount rate applicable, as well as what the County’s proportionate share of the net
pension liability would be if it were calculated using a discount rate that is 1-percentage-point lower or 1percentage-point higher than the current rate.
Current Single
Discount Rate
1% Decrease
Assumption
1% Increase
(5.80)%
(6.80)%
(7.80)%
Pension Plan
Public Employees' Pension Plan
$
10,502,665
$
6,304,913
$
2,828,658
Law Enforcement Pension Plan
5,898,361
2,811,818
288,276
Component Units
Library
1,340,121
775,264
432,660
Weed and Pest
292,421
175,545
78,757
Airport
108,935
65,395
29,339

Payables to the Pension Plan
At June 30, 2025, the County and its component units did not have any payables to the pension plans.

Retirement Plan – The Hospital
In 2009, the Hospital established a defined contribution profit sharing plan covering substantially all employees
who have over 1,000 hours of service within the first anniversary year of employment or subsequent plan year.
The Hospital Retirement Plan (Plan) is administered by a Board of Trustees who has executed a trust agreement
with a financial institution to hold, manage, invest, and distribute contributions in accordance with the provisions
of the Plan.
The Plan allows for eligible employees to contribute a percentage of pre‐tax annual compensation as defined in
the Plan. The Hospital makes a discretionary matching percentage on the participant’s eligible contributions for
the Plan year. The Hospital may also make an optional profit‐sharing contribution subject to certain limitations
imposed by the Internal Revenue Service.
Participants are immediately vested in their voluntary contribution plus actual earnings thereon. Vesting in the
remainder of their accounts is based on years of continuous service. A participant is 100% vested after six years
of service. All years of service beginning January 1, 2009, shall count toward years of vesting. In addition, each
participant shall receive one year of service for each two years of service completed before January 1, 2009, up
to a maximum of 6 years of service credited toward vesting. Also, a participant shall be 100% vested upon death,
disability, or upon a reduction in force as determined by the Hospital. The discretionary contributions to the Plan
was approximately $1,875,000 for the year ended June 30, 2025.
74

Converse County, Wyoming
June 30, 2025
Notes to the Financial Statements

Note 10.

Deferred Compensation Plans

The Hospital also provides a deferred compensation plan (457 Plan) to substantially all employees of the
Hospital. The Hospital does not make contributions to the 457 Plan.
Weed and Pest also offers its employees a deferred compensation plan under the provisions of Internal Revenue
Code Section 457. Employees are eligible to participate upon start of employment. Participants can make pre-tax
or after-tax contributions up to limits set by the IRS at their discretion and are always 100% vested in their
account. Weed and Pest Control District can match employee contributions at their discretion. No employer
matching contributions were made in 2025.
Note 11.

Fund Balance

The County’s general fund assigned fund balance consists of the following amounts:
Building/maintenance reserve
Equipment reserve
Salary reserve
Loans reserve
Operating reserve
Depreciation reserve
Ad valorem stabilization

$

$

47,696,124
11,218,307
4,404,918
83,812
3,900,000
1,225,000
25,465,923
93,994,084

The County’s Women, Infant and Children grant fund had a deficit fund balance at June 30, 2025, of $1,532. The
County will make transfers in the future to resolve the deficit.
Note 12.

Commitments and Contingencies

In the normal course of business, various lawsuits or claims are brought against the County. It is not possible to
determine the ultimate disposition of these matters at this time; however, the County Attorney and the County
Commissioners are of the opinion that these matters would not have a material adverse effect on the results of
operations, financial condition, or cash flows of the County. The County’s lawsuits and/or claims are covered by
insurance and Wyoming Government Claims Act limits the liability to $250,000.
The Hospital is subject to the usual contingencies in the normal course of operations relating to the performance
of task under its various programs. In the opinion of management, the ultimate settlement of litigation, claims
and disputes in process will not be material to the financial position, operations, or cash flows of the Hospital.
The health care industry is subject to numerous laws and regulations of federal, state and local governments.
Compliance with these laws and regulations, specifically those relating to Medicare and Medicaid programs, can
be subject to government review and interpretation, as well as regulatory actions unknown and unasserted at
this time. Federal government activity has increased with respect to investigations and allegations concerning
possible violations by health care providers of regulations, which could result in the imposition of significant
fines and penalties, as well as significant repayments of previously billed and collected revenues from patient
services.

75

Converse County, Wyoming
June 30, 2025
Notes to the Financial Statements

Note 12.

Commitments and Contingencies (Continued)

The County has a contract with Sampson Construction Co., Inc. in the amount of $24,634,872 including change
orders for the design of the Joint Justice Center Phase II. As of June 30, 2025, there was approximately $108,000
outstanding on that contract.
In June 2023, the County approved a $12,454,585 bid from Knife River for the Jenne Trail Phase 2. As of June 30,
2025, there was approximately $375,846 outstanding on that contract.
In April 2024, the County approved a $1,644,152 bid from HDR Engineering, Inc. for the Jenne Trail Phase 3. As
of June 30, 2025, there was approximately $375,846 outstanding on that contract.
In March 2025, the County approved a $6,934,999 bid from Earth Work Solutions for the Chalkbuttes Road
Reconstruction. As of June 30, 2025, there was approximately $5,582,605 outstanding on that contract.
The Airport received approximately 82% of its support (excluding intergovernmental, federal and state grant
revenue) during 2025 from Converse County, Wyoming. A significant reduction in the level of this support, if this
were to occur, may have a negative effect on the Airport’s operations.
Note 13.

Risk Management Programs

The County is exposed to various risks of loss related to torts; theft of, damage to, and destruction of assets;
error and omissions; injuries to employees; and natural disasters. As a result of these and other risks, the County
participates in the Local Government Liability Pool (LGLP) which is a public entity risk pool. LGLP provides liability
coverage for claims subject to the Wyoming Governmental Claims Act (W.S. 1-39-101) up to $250,000 per
claimant but not more than $500,000 per occurrence and $1,500,000 per occurrence for federal and out-of-state
claims. The coverage limit is $1,000,000 per occurrence for all members combined of the LGLP risk pool
including various additional sub-limits. Claims have not exceeded coverage amounts in any of the last three
years. Premiums paid to LGLP by the County totaled $1,200.
The County’s component units, the Converse County Weed and Pest Control District, the County Airport Board,
and the Fair Board also participate in LGLP. In addition, the County purchases commercial insurance to cover its
property and automobile physical damage, as well as for the Joint Justice Center. Premiums paid for these
coverages by the County totaled $192,774.
The County also participates in two other state sponsored, risk management programs under the Workers’
Compensation Act and Unemployment Compensation Act.
Wyoming Statute §27-14-101 created the Wyoming Workers' Compensation Act which is administered as an
enterprise fund by the State of Wyoming. All employers within the State of Wyoming are participants of this plan
with only a few exceptions. This Act provides for the payment of benefits to employees for job-related injuries
and diseases through the Workers' Compensation Fund. This Act provides general protection from suits filed by
employees against the County. The County makes monthly payments to the Department of Employment, State
of Wyoming. This amount is based on salaries and is a split rate between hazardous and non-hazardous
positions. The amount paid by the County to the State for Workers' Compensation during fiscal year 2025 was
$129,878.

76

Converse County, Wyoming
June 30, 2025
Notes to the Financial Statements

Note 13.

Risk Management Programs (Continued)

Wyoming Statute §27-3-101 created the Wyoming Unemployment Compensation Act. This Act requires the
County to pay the cost of actual claims incurred. Changes in the balances of claims liabilities during fiscal years
2025 and 2024 were as follows for the County’s participation in the Unemployment Compensation Act Program.
Unpaid claims, beginning of year
Claims incurred
Claims paid
Unpaid claims, end of year

$

$

2025
2,396
(2,396)
-

$

$

2024

2,396
2,396

The County also provides its employees’ health care benefits through a self-insured program for primary
government and component unit employees excluding the Hospital and the Fair Board. Under this program, the
County is insured under a stop-loss policy for individual claims exceeding $55,000 per year. The maximum
specific reimbursement per person is unlimited per policy period.
Premiums paid for stop-loss insurance were approximately $660,000. Estimated medical claims are calculated by
the plan administrator based on past historical experience and current economic events. Claims are usually paid
within one year of submission.
Changes in the County's health care risk management liability during the years ended June 30, 2025 and 2024
are as follows:
Incurred but not reported claims payable, beginning of year
Claims incurred
Claims paid
Incurred but not reported claims payable, end of year

2025
$
138,588
2,567,261
(2,345,849)
$
360,000

2024
$
152,000
2,330,299
(2,343,711)
$
138,588

Insurance settlements during the last three fiscal years have not exceeded the County's insurance coverage.
There has been no significant change in insurance coverage or the County's risk management programs during
the year ended June 30, 2025.
The Hospital is self‐funded for health benefits for eligible employees and their dependents. The Hospital, in
connection with this plan, recognizes health benefit expenses on accrual basis. An accrued liability is recorded at
year-end which estimates the incurred by not reported claims that will be paid by the Hospital. The Hospital has
stop loss insurance to cover catastrophic claims in excess of $150,000 per claim and an annual aggregate limit of
$1,000,000 for the plan year ended June 30, 2025.
The Hospital expenses amounts representing the employer’s portion of actual claims paid, adjusted for the
estimates of liabilities related to claims resulted from services provided prior to the fiscal year end not to exceed
the annual aggregate expense. The estimated liability of $365,878 is included in accrued salaries, and benefits in
the financial statements. This amount has been estimated based on historical trends.

77

Converse County, Wyoming
June 30, 2025
Notes to the Financial Statements

Note 14.

Transactions with Related Parties and Component Units

In fiscal year 2016, the County entered into a lease agreement with Commissioner Richard Grant, for royalties
from the Dry Creek Gravel Pit on the Grant Ranch. Compensation for the gravel is $1.25 per yard that leaves the
site and up to 100 yards of aggregate per year for ranch use. There were no payments on this contract during
the fiscal year 2025.
During the fiscal year ended June 30, 2025 the County provided $1,361,535 in support of the Joint Justice Center
Joint Powers Board. The County received $765,542 from the City of Douglas as its share of the operations and
communications cost of the Joint Justice Center.
During the fiscal year ended June 30, 2025, the County provided $517,818, $2,047,000, $4,600,000, and $179,900
in support to the Airport, the Library, the Hospital, and the Fair, respectively.
The Airport’s manager is the owner of a company which leases hangar and office space from the Airport. Total
rent received for the year ended June 30, 2025 amounted to approximately $5,680.
The County invests in WGIF where the County Treasurer is a board member. The Treasurer does not receive
compensation for being a WGIF board member.
The Hospital is a 40% owner in Big Country Rehabilitation, LLC. Big Country Rehabilitation LLC leases space from
the Hospital for approximately $42,874 per year. The lease began March 1, 2011, and is renewed automatically
for one-year increments until it is cancelled.
During the year ended June 30, 2025, the Hospital paid Big County Rehabilitation, LLC approximately $962,000
for professional services rendered. The Hospital received $244,000 of income related to its investment in Big
Country during the year ended June 30, 2025.
During fiscal year 2025. Commissioner Donald Blackburn took office as county commissioner, who is the owner
of Balckburn Cattle Co. The County has been using Blackburn Cattle Co for years. Total payments for the year
ended June 30, 2025, amounted to $394,659.
Note 15.

Issued Standards Not Yet Implemented

GASB Statement No. 103, Financial Reporting Model Improvements, improves key components of the financial
reporting model to enhance its effectiveness in providing information that is essential for decision making and
assessing a government’s accountability. This Statement also addresses certain application issues. Key provisions
of this Statement include (1) recognition and measurement of revenues and expenditures; (2) presentation
enhancements; and (3) note disclosures. The requirements of this Statement are effective for fiscal years
beginning after June 15, 2025.
GASB Statement No. 104, Disclosure of Certain Capital Assets, requires governments to separately disclose
certain types of capital assets, including lease assets, intangible right-to-use assets, and subscription assets, to
enhance transparency in financial statements. It also provides guidelines for capital assets held for sale, requiring
disclosure of their cost and accumulated depreciation. These requirements are effective for fiscal years
beginning after June 15, 2025, with early adoption encouraged.

78

Converse County, Wyoming
June 30, 2025
Notes to the Financial Statements

Note 15.

Issued Standards Not Yet Implemented (Continued)

GASB Statement No. 105, Subsequent Events, requires governments to enhance the consistency and usefulness
of financial reporting for events that occur after the date of the financial statements but before the statements
are available to be issued. Subsequent events, as defined by Statement No. 105, are transactions or other events
occurring during this period, with the date the financial statements are available to be issued defined as the date
the statements are complete in accordance with generally accepted accounting principles and all necessary
approvals for issuance have been obtained. The Statement clarifies which subsequent events should be
recognized in the financial statements and which should be disclosed in the notes, and it requires disclosure of
the date through which subsequent events have been evaluated. The requirements of the Statement are
effective for fiscal years beginning after June 15, 2026.
Management has not yet completed its assessment of the effects of implementing these standards.
Note 16.

Subsequent Events

Subsequent to June 30, 2025, the County awarded the following contracts/agreements:
•

In February 2026, the Commissioners approved an Aid to Others agreement with the Wyoming State
Fair Foundation that included this $750,000 for the Show Center along with $20,000 for the Foundation
operations.

•

In November 2025, the Commissioners enter into a land purchase agreement with B.K. Killion LLC to
purchase land adjacent to Natural Bridge Park for $1,695,000 from County energy royalty funds.

79

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REQUIRED
SUPPLEMENTARY
INFORMATION

80

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Converse County, Wyoming
June 30, 2025
Infrastructure Assets Reported Using the Modified Approach
(Unaudited)

The County accounts for its infrastructure assets using the modified approach. The infrastructure consists
of the road subsystem and the bridge subsystem.
The County manages its road network with an assessment system conducted in-house by the Public
Works department. The network is assessed annually. The roads may be rated as being in standard or
substandard condition. Standard paved roads will not need major repairs for 10 to 15 years. Substandard
paved roads will need major repairs within 0 to 10 years. Standard gravel roads will not need major
repairs for 4 years. Substandard gravel roads will need major repairs within 0 to 5 years due to not having
the proper structural base.
Effective July 1, 2019, it is the County’s policy to maintain its paved roads with at least 33% rated as
standard and to maintain its gravel roads with at least 33% rated as standard. The County added an
additional category for dirt/unimproved roads which are not assessed or maintained. The number of
miles of paved and gravel rated standard and substandard are as follows:
County Roads
Paved
2025
Condition Rating
Standard
Sub-standard

Miles
95
25
120

Gravel
Percent
78%
22%
100%

Miles
448
62
510

Paved
2024
Condition Rating
Standard
Sub-standard

Miles
96
24
120

Gravel
Percent
78%
22%
100%

Miles
448
62
510

Paved
2023
Condition Rating
Standard
Sub-standard

Percent
88%
12%
100%

Percent
88%
12%
100%
Gravel

Miles
96
24

Percent
78%
22%

Miles
448
62

Percent
88%
12%

120

100%

510

100%

See accompanying notes to required supplementary information

81

Converse County, Wyoming
June 30, 2025
Infrastructure Assets Reported Using the Modified Approach (Continued)
(Unaudited)

The County’s bridges are monitored by the State of Wyoming. The State uses a comprehensive bridge
management system (PONTIS) to assist in managing all bridges within the State. Each bridge is inspected
at least once every two years. This inspection measures and rates the required National Bridge Inventory
(NBI) items, including dimensions, clearances, alignment, waterway data and structural condition. The
structural condition is evaluated by using structural elements. Each component of the bridge (girders,
deck, railing, columns, piling, etc.) is assigned an element and the condition of each element is evaluated
based on several condition assessments. The element data is converted to NBI ratings using a conversion
program. The structure’s NBI data is then used to determine its sufficiency rating. The sufficiency rating is
calculated by the Federal Highway Administration, and bridges with a sufficiency rating of 80 or less and
classified as structurally deficient and/or functionally obsolete are put on the Federal Highway
Administration Selection List. Functional obsolescence is a measure of the suitability of the bridge to
provide for requirements of traffic both on and under the structure. Structural deficiency is a measure of
the condition of the structural elements and the ability of the bridge to carry the anticipated loads.
Bridges appearing on the Selection List are considered deficient, whereas those not on the list are
considered good. The bridge subsystem condition assessment is done every year. The County’s policy is
to maintain 50% of bridges at fair or better condition.
Using the BMS/NBI conversion program, the NBI data supplied by the State of Wyoming to the Federal
Highway Administration results in the Selection List Condition Rating is as follows:
2025
Condition Rating
Good (80 to 100 points)
Fair (50 to 80 points)
Deficient (less than 50 points)

Bridges
3
27
6
36

Condition Rating
Good (80 to 100 points)
Fair (50 to 80 points)
Deficient (less than 50 points)

Bridges
3
27
6
36

Percent
8%
76%
16%
100%
2024
Percent
8%
76%
16%
100%
2023

Condition Rating
Good (80 to 100 points)
Fair (50 to 80 points)
Deficient (less than 50 points)

Bridges
3
27
6
36

Percent
8%
76%
16%
100%

See accompanying notes to required supplementary information

82

Converse County, Wyoming
June 30, 2025
Infrastructure Assets Reported Using the Modified Approach (Continued)
(Unaudited)

The County’s estimated maintenance and preservation expenditures on infrastructure assets as compared
to accrual expenditures on the budgetary basis are as follows:

Maintenance and
preservation expenditures
(budgetary basis)
2021
2022
2023
2024
2025

Estimated

Roads
Actual

Variance

$ 22,652,661
15,470,786

$ 14,231,653
6,951,747

$ 8,421,008
8,519,039

18,319,102
47,108,951
49,463,908

10,825,848
14,784,617
30,304,726

7,493,254
32,324,334
19,159,182

Estimated

Bridges
Actual

Variance

$

$

$

-

-

-

The remainder of this page intentionally left blank

See accompanying notes to required supplementary information

-

83

Converse County, Wyoming
Year Ended June 30, 2025
Schedule of Revenues, Expenditures, and Changes in Fund Balance
Budget and Actual (Budgetary) - General Fund
(Unaudited)

Budget Amounts
Original
Final
Revenues
Tax - property
Tax - other
Intergovernmental
Charges for services
Investment income (loss)
Economic development
Miscellaneous
Total revenues
Expenditures
County Commissioners
County Clerk
County Treasurer
County Assessor
County Sheriff
County Attorney
Courthouse/Maintenance
County Surveyor
County Coroner
Agricultural agents
Clerk of District Court
County jail
Road and bridge
Elections
Emergency management
IT
Health
Parks and recreation
Special projects
Human Resources
Total county departments

$

43,492,200
16,240,143
2,785,113
1,707,900
2,761,500
37,500
1,633,700
68,658,056

$ 43,492,200
16,240,143
2,785,113
1,707,900
2,761,500
37,500
1,633,700
68,658,056

436,674
845,213
916,529
1,260,286
3,047,585
1,644,452
1,340,919
276,896
102,863
210,337
841,717
4,222,824
6,347,357
329,580
337,820
790,684
743,924
1,943,571
136,454
190,743
25,966,428

436,674
845,213
916,529
1,260,286
3,047,585
1,644,452
1,340,919
276,896
102,863
210,337
841,717
4,222,824
6,347,357
329,580
1,078,720
790,684
743,924
1,943,571
136,454
190,743
26,707,328

Actual
$

Variance with
Final Budget
Positive
(Negative)

49,156,561
16,196,446
1,795,397
1,610,111
3,934,716
10,061
2,803,669
75,506,961

$

5,664,361
(43,697)
(989,716)
(97,789)
1,173,216
(27,439)
1,169,969
6,848,905

436,597
711,866
866,307
1,246,598
2,857,540
1,607,306
828,387
197,302
91,939
193,960
820,158
3,761,932
5,290,693
290,084
1,078,702
750,056
678,370
646,048
129,605
177,111
22,660,561

77
133,347
50,222
13,688
190,045
37,146
512,532
79,594
10,924
16,377
21,559
460,892
1,056,664
39,496
18
40,628
65,554
1,297,523
6,849
13,632
4,046,767
(Continued)

See accompanying notes to required supplementary information

84

Converse County, Wyoming
Year Ended June 30, 2025
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget and Actual (Budgetary) - General Fund (Continued)
(Unaudited)

Variance with
Final Budget

General accounts
Community aid
Fire departments
Depreciation reserve
Total other expenditures
Total general fund

$

Budget Amounts
Original
Final
8,716,057
$ 8,716,057
961,000
961,000
1,825,878
1,825,878
1,225,000
1,386,200
12,727,935
12,889,135
38,694,363
39,596,463

$

Actual
8,655,001
914,281
1,825,878
1,386,150
12,781,310
35,441,871

Positive
(Negative)
$
61,056
46,719
50
107,825
4,154,592

Economic development
Total expenditures

85,000
38,779,363

85,000
39,681,463

56,621
35,498,492

28,379
4,182,971

Excess of revenues over
expenditures

29,878,693

28,976,593

40,008,469

11,031,876

2,000,000
2,000,000

2,000,000
2,000,000

439,489
55,220
2,000,000
2,494,709

439,489
55,220
494,709

(2,000,000)
(832,809)
(528,726)
(47,500)
(15,410,442)
(14,388,184)
(33,207,661)
(31,207,661)
(1,328,968)
93,154,189
$ 91,825,221

(2,000,000)
(832,809)
(528,726)
(47,500)
(15,410,442)
(14,388,184)
(33,207,661)
(31,207,661)
(2,231,068)
93,154,189
$ 90,923,121

(2,000,000)
(832,809)
(528,726)
(55,220)
(15,410,442)
(14,388,184)
(33,215,381)
(30,720,672)
9,287,797
93,154,189
$ 102,441,986

(7,720)
(7,720)
486,989
$ 11,518,865

Other financing sources (uses)
Transfers in
Nonmajor special revenue funds
Economic Development
Reserve funds (*)
Total transfers in
Transfers out
Reserve funds (*)
Joint Justice Communications
Joint Justice Operations
Economic Development
Capital Construction
County Roads Fund
Total transfers out
Total other financing (uses)
Net change in fund balance
Fund balance, beginning of year
Fund balance, end of year

(*) The County maintains separate funds for its reserves and budgets transfers from the general fund to the
reserve funds. The reserve funds are included in the County’s general fund for financial reporting.

See accompanying notes to required supplementary information 85

This page is intentionally left blank

Converse County, Wyoming
Year Ended June 30, 2025
Schedule of Revenues, Expenditures, and Changes in Fund Balance
Budget and Actual (Budgetary) - Joint Justice Center Joint Powers Board
(Unaudited)

Budget Amounts
Original
Final
Revenues
Charges for services
Investment income
Total revenues
Expenditures
Public safety
Communications
Operations
Total expenditures
Excess (deficiency) of revenues
over expenditures

$

1,033,657
85,000
1,118,657

$

1,033,657
85,000
1,118,657

Actual
$

782,890
113,506
896,396

Variance with
Final Budget
Positive
(Negative)
$

(250,767)
28,506
(222,261)

1,665,618
714,494
2,380,112

1,665,618
714,494
2,380,112

1,379,600
673,960
2,053,560

286,018
40,534
326,552

(1,261,455)

(1,261,455)

(1,157,164)

104,291

Transfers in
Total other financing sources

1,376,614
1,376,614

1,376,614
1,376,614

1,361,535
1,361,535

(15,079)
(15,079)

Net change in fund balance

115,159

115,159

204,371

Other financing sources

Fund balance, beginning of year
Fund balance, end of year

$

3,106,613
3,221,772

$

3,106,613
3,221,772

$

$

89,212

3,106,613
3,310,984

See accompanying notes to required supplementary information 86

Converse County, Wyoming
Last 10 Fiscal Years *
Schedule of Changes in Net Pension Liability and Related Ratios

(Unaudited)

2025
Public Employees Pension Plan - County
Proportion of the net pension liability
Proportionate share of the net pension liability
Covered payroll
Proportionate share of the net pension liability
as a percentage of its covered payroll
Plan fiduciary net position as a percentage
of the total pension liability
Law Enforcement Pension Plan - County
Proportion of the net pension liability
Proportionate share of the net pension liability
Covered payroll
Proportionate share of the net pension liability
as a percentage of its covered payroll
Plan fiduciary net position as a percentage
of the total pension liability
Public Employees Pension Plan - Component Units
County Library
Proportion of the net pension liability
Proportionate share of the net pension liability
Covered payroll
Proportionate share of the net pension liability
as a percentage of its covered payroll
Plan fiduciary net position as a percentage
of the total pension liability
Weed and Pest
Proportion of the net pension liability
Proportionate share of the net pension liability
Covered payroll
Proportionate share of the net pension liability
as a percentage of its covered payroll
Plan fiduciary net position as a percentage
of the total pension liability
County Airport
Proportion of the net pension liability
Proportionate share of the net pension liability
Covered payroll
Proportionate share of the net pension liability
as a percentage of its covered payroll
Plan fiduciary net position as a percentage
of the total pension liability

$
$

$
$

$
$

$
$

$
$

0.30231080%
6,304,913
6,331,743

2024

$
$

0.28239560%
6,410,892
5,304,286

2023

$
$

0.26002115%
7,105,895
4,694,767

99.58%

120.86%

151.36%

82.46%

80.19%

75.47%

2.09344810%
2,811,818
4,037,086

$
$

2.07633500%
2,804,797
3,472,925

$
$

2.08734800%
7,110,648
3,369,092

69.65%

80.76%

211.06%

87.88%

86.90%

70.30%

0.03717270%
775,264
788,415

$
$

0.03809990%
864,937
715,637

$
$

0.03615070%
987,931
652,713

98.33%

120.86%

151.36%

82.46%

80.19%

75.47%

0.00840000%
175,545
182,430

$
$

0.00984000%
223,350
208,059

$
$

0.01170000%
319,477
208,059

96.23%

107.35%

153.55%

82.46%

80.19%

75.47%

0.00313560%
65,395
80,000

$
$

0.00326850%
74,201
80,000

$
$

0.00345240%
94,348
72,000

81.74%

92.75%

131.04%

82.46%

80.19%

75.47%

*The amounts presented for each fiscal year were determined as of December 31,
which is the measurement date.

See accompanying notes to required supplementary information 87

2022

2021

2020

2019

2018

2017

2016

0.24543790%
0.23807634%
0.23722819%
0.22027724%
0.21156516%
0.20623750%
0.19816312%
$ 3,742,273
$ 5,174,255
$ 5,574,688
$ 6,708,083
$ 4,822,290
$ 4,985,792
$ 4,615,908
$ 4,466,793
$ 4,238,871
$ 4,123,531
$ 3,835,808
$ 3,758,196
$ 3,677,019
$ 3,182,564
83.78%

122.07%

135.19%

174.88%

128.31%

135.59%

103.23%

86.03%

79.24%

76.83%

69.17%

76.35%

73.42%

73.40%

2.06141554%
1.95251674%
1.90734570%
1.81034961%
1.62265252%
1.49563660%
1.45762803%
$ 5,865,522
$ 1,330,097
$ 1,644,108
$ 4,382,355
$ 1,396,203
$ 1,129,085
$ 1,094,696
$ 3,424,655
$ 3,138,465
$ 2,972,626
$ 2,749,897
$ 2,491,536
$ 2,314,934
$ 2,192,269
171.27%

42.38%

55.31%

159.36%

56.04%

56.04%

48.77%

75.62%

91.82%

89.05%

71.22%

87.99%

88.11%

87.49%

0.03599654%
0.03338778%
0.02962926%
0.02719371%
0.02880958%
0.02633070%
0.02355706%
$
548,847
$
725,637
$
696,266
$
828,128
$
656,669
$
636,545
$
548,726
$
655,111
$
594,459
$
515,020
$
473,539
$
511,767
$
469,451
$
452,577

$
$

$
$

83.78%

122.07%

135.19%

174.88%

128.31%

135.59%

103.23%

86.03%

79.24%

76.83%

69.17%

76.35%

73.42%

73.40%

0.00930000%
0.01080000%
0.01090000%
0.01090000%
0.00930000%
0.00850000%
0.00869739%
141,095
$
236,401
$
256,812
$
333,779
$
213,061
$
206,106
$
202,592
187,996
$
181,548
$
198,587
$
190,766
$
180,385
$
155,408
$
150,909
75.05%

130.21%

129.32%

174.97%

118.11%

132.62%

133.56%

86.03%

79.24%

76.83%

69.17%

76.35%

73.42%

73.40%

0.00351500%
0.00312070%
0.00318120%
0.00302940%
0.00277490%
0.00278030%
0.00154752%
53,594
$
67,824
$
74,756
$
92,254
$
63,249
$
67,214
36,074
$
72,000
$
57,000
$
57,000
$
53,000
$
49,000
$
50,000
$
27,000
744.44%

118.99%

131.15%

174.06%

129.08%

134.43%

133.51%

86.03%

79.24%

76.83%

69.17%

76.35%

73.42%

73.40%

88

Converse County, Wyoming
Last 10 Fiscal Years
Schedule of Pension Contributions

(Unaudited)

2025
Public Employees Pension Plan - County
Statutorily required contribution
Contributions in relations to the statutorily
required contributions
Contribution deficiency (excess)
Covered payroll
Contributions as a percentage of payroll
Law Enforcement Pension Plan - County
Statutorily required contribution
Contributions in relations to the statutorily
required contributions

2024

$

615,955

$

(615,955)
-

2023

$

563,308

$

(563,308)
-

$

485,319

$

(485,319)
-

$

6,573,693
9.37%

$

6,011,825
9.37%

$

5,179,498
9.37%

$

393,674

$

340,583

$

308,520

(393,674)

(340,583)

(308,520)

Contribution deficiency (excess)

$

-

$

-

$

-

Covered payroll
Contributions as a percentage of payroll

$

4,143,937
9.50%

$

3,960,267
8.60%

$

3,587,442
8.60%

$

75,434

$

76,896

$

65,612

$

(75,434)
-

$

(76,896)
-

$

(65,612)
-

Public Employees Pension Plan - Component Units
County Library
Statutorily required contribution
Contributions in relations to the statutorily
required contributions
Contribution deficiency (excess)
Covered payroll
Contributions as a percentage of payroll
Weed and Pest
Statutorily required contribution
Contributions in relations to the statutorily
required contributions
Contribution deficiency (excess)
Covered payroll
Contributions as a percentage of payroll
County Airport
Statutorily required contribution
Contributions in relations to the statutorily
required contributions
Contribution deficiency (excess)
Covered payroll
Contributions as a percentage of payroll

$

805,059
9.37%

$

820,662
9.37%

$

700,235
9.37%

$

19,535

$

17,112

$

19,516

$

(19,535)
-

$

(17,112)
-

$

(19,516)
-

$

182,430
9.37%

$

208,059
9.37%

$

208,059
9.37%

$

6,500

$

6,100

$

6,100

$

(6,500)
-

$

(6,100)
-

$

(6,100)
-

$

69,500
9.37%

$

65,000
9.37%

$

64,000
9.37%

See accompanying notes to required supplementary information 89

2022

2021

$

431,958

$

(431,958)
-

2020

$

384,693

$

(384,693)
-

2019

$

376,869

$

(376,869)
-

2018

$

353,160

$

(353,160)
-

2017

$

309,439

$

(309,439)
-

2016

$

310,473

$

(310,473)
-

$

321,106

$

(321,106)
-

$ 4,610,011
9.37%

$ 4,218,125
9.12%

$ 4,248,805
8.87%

$ 4,096,984
8.62%

$ 3,697,001
8.37%

$ 3,709,355
8.37%

$ 3,836,392
8.37%

$

$

$

$

$

$

$

274,674
(274,674)

$

-

275,429
(275,429)

$

-

269,800
(269,800)

$

-

255,992
(255,992)

$

-

227,379
(227,379)

$

-

204,925
(204,925)

$

-

201,084
(201,084)

$

-

$ 3,193,884
8.60%

$ 3,202,663
8.60%

$ 3,137,209
8.60%

$ 2,976,651
8.60%

$ 2,643,942
8.60%

$ 2,382,849
8.60%

$ 2,338,186
8.60%

$

62,640

$

57,226

$

52,773

$

46,258

$

44,825

$

42,445

$

35,444

$

(62,640)
-

$

(57,226)
-

$

(52,773)
-

$

(46,258)
-

$

(44,825)
-

$

(42,445)
-

$

(35,444)
-

$

668,517
9.37%

$

627,478
9.12%

$

594,961
8.87%

$

536,636
8.62%

$

535,544
8.37%

$

507,109
8.37%

$

423,465
8.37%

$

17,643

$

16,557

$

17,615

$

16,441

$

15,098

$

13,008

$

12,631

$

(17,643)
-

$

(16,557)
-

$

(17,615)
-

$

(16,441)
-

$

(15,098)
-

$

(13,008)
-

$

(12,631)
-

$

187,996
9.37%

$

181,548
9.12%

$

198,587
8.87%

$

190,766
8.62%

$

180,385
8.37%

$

155,408
8.37%

$

150,909
8.37%

$

6,000

$

5,500

$

5,000

$

4,800

$

4,000

$

4,100

$

4,400

$

(6,000)
-

$

(5,500)
-

$

(5,000)
-

$

(4,800)
-

$

(4,000)
-

$

(4,100)
-

$

60,300
9.37%

$

56,400
9.12%

$

56,300
8.87%

$

48,300
8.62%

$

49,100
8.37%

$

52,600
8.37%

(4,400)
N/A
N/A
8.37%

90

Converse County, Wyoming
June 30, 2025
Notes to the Required Supplementary Information
(Unaudited)
Note 1.

Basis of Budgeting

The County’s budgets and related appropriations are prepared on the basis of cash receipts and cash
disbursements whereas the County’s financial statements are prepared in accordance with generally accepted
accounting principles (GAAP). The budgetary presentation differences relate to the variance in classification of
certain revenues and expenses. The adjustments necessary to convert GAAP basis revenues and expenditures of
the general fund and Joint Justice Center Joint Powers Board are as follows:
Joint Justice
Center

General Fund
Revenues
Actual amounts (budgetary basis) from the Budgetary
Comparison Schedule
Differences - Budgetary Basis to GAAP
Due from other governments
Investment income
Miscellaneous
Proceeds from sale of capital assets
Total revenues as reported on the Statement of Revenues,
Expenditures and Changes in Fund Balances Governmental Funds
Expenditures
Actual amounts (budgetary basis) from the Budgetary
Comparison Schedule
Differences - Budgetary Basis to GAAP
Accounts payable
Capital outlay
Total expenditures as reported on the Statement of Revenues,
Expenditures and Changes in Fund Balances Governmental Funds

$ 75,506,961

$

(3,616,002)
492,658
(13,381)
(44,280)

896,396
(17,348)
9,361
-

$ 72,325,956

$

888,409

$ 35,498,492

$

2,053,560

281,729
(172,669)

$ 35,607,552

65,009
(19,863)

$

2,098,706

91

Converse County, Wyoming
June 30, 2025
Notes to the Required Supplementary Information
(Unaudited)
Note 1.

Basis of Budgeting (Continued)

Budgetary Information
The schedules of revenues, expenditures and changes in fund balance – budget and actual – General Fund and
Joint Justice Center Joint Powers Board, present a comparison of the legally adopted budget with actual data.
The County prepares its budgets on a cash basis. Appropriations lapse at fiscal year-end. All budget
amendments are approved by the County Commissioners and are presented within the final budget figures.
Wyoming State Statutes require the preparation of the annual budget, which provides documentation that all
sources and uses of County resources are properly planned, budgeted and approved. The budget, upon
adoption, is the legal document which places restrictions and limitations on the purposes and amounts for which
County monies may be expended.
The County follows these procedures in establishing the budgetary data reflected in the financial statements.
The budget is adopted according to the following schedule:
1.

On or before May 15, the Budget Officer shall prepare a tentative budget for each fund and file the
budget with the governing body.

2.

A summary of the tentative budget shall be entered into the minutes, and the governing body shall
publish the summary at least one week before the public hearing to adopt the budget.

3.

The public hearing is held on or before the third Monday in July.

4.

On the day of or the day following the public hearing, the County Commissioners, by resolution, make
the necessary appropriations and adopt the budget, which subject to future amendment, shall be in
effect for the next fiscal year.

The general fund consists of the County’s general fund, as well as the building maintenance reserve fund, the
equipment reserve fund, the salary reserve fund, the economic development fund, payroll clearing funds, and a
Treasurer clearing fund.
The total amount of the FY2025 budget amendment was $902,100, and the fund that had to be amended was:
•

Emergency management in the amount of $740,900 due to unanticipated costs.

•

General depreciation reserve in the amount of $161,200 due to unanticipated costs

92

Converse County, Wyoming
June 30, 2025
Notes to the Required Supplementary Information
(Unaudited)
Note 2.

Explanation of Changes to Pension Plan

Changes in Benefits Terms
There were no changes in benefit terms between the initial measurement date reflected below and the
December 31, 2024, measurement date.

Changes to Assumptions
The assumptions used in the actuarial valuation were adopted at the November 17, 2021, and the February 17,
2022, meetings and were first utilized with the actuarial valuation report for the year beginning January 1, 2021.
In general, the assumptions reflect an update to the mortality tables, adjustments to the demographic and salary
scale, as well as a lower long-term investment return. The expected rate of return on assets for all plans was
decreased from 7.00% to 6.80%. There have been no actuarial assumption changes or methods since the prior
valuation for all plans. See the table below:
2024

2023

2022

2021

2020

2019

2018

2017

2016

6.80%
6.80%

6.80%
6.80%

6.80%
6.80%

6.80%
5.17%

7.00%
7.00%

7.00%
7.00%

7.00%
5.92%

7.00%
7.00%

7.75%
7.75%

6.80%

6.80%

6.80%

6.80%

7.00%

7.00%

7.00%

7.75%

7.75%

4.55%
2.25%

4.55%
2.25%

4.55%
2.25%

4.55%
2.25%

4.75%
2.25%

4.75%
2.25%

3.52%
2.25%

4.75%
3.25%

4.50%
3.25%

PEPP

2.50%6.50%

2.50%6.50%

2.50% 6.50%

2.50% 6.50%

2.50% 6.50%

2.50% 6.50%

4.75% 8.75%

4.25% 6.00%

4.25% 6.00%

LEPP

5.25% 9.25%

5.25% 9.25%

5.25% 9.25%

3.00% 7.00%

4.75% 8.75%

4.75% 8.75%

4.75% 8.75%

4.25% 8.00%

4.25% 8.00%

2.50%

2.50%

2.50%

2.50%

2.50%

2.50%

2.50%

4.25%

4.25%

Measurement Date
(Plan Year-End)
Discount rate
PEPP
LEPP
Investment rate
of return
Real return net
of inflation
Inflation
Salary increases

Payroll growth rate

93

COMPLIANCE SECTION

94

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REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER
MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH

GOVERNMENT AUDITING STANDARDS
INDEPENDENT AUDITOR’S REPORT
Board of County Commissioners
Converse County, Wyoming

We have audited, in accordance with the auditing standards generally accepted in the United States of America
and the standards applicable to financial audits contained in Government Auditing Standards issued by the
Comptroller General of the United States (Governmental Auditing Standards), the financial statements of the
governmental activities, the aggregate discretely presented component units, each major fund, and the
aggregate remaining fund information of Converse County, Wyoming (County) as of and for the year ended
June 30, 2025, and the related notes to the financial statements, which collectively comprise the County’s basic
financial statements, and have issued our report thereon dated March 11, 2026.
Our report includes a reference to other auditors who audited the financial statements of the Memorial Hospital
of Converse County, the Converse County Weed and Pest Control District, and the Converse County Airport
Board as described in our report on the County’s financial statements. This report does not include the results of
the other auditors’ testing of internal control over financial reporting or compliance and other matters that are
reported on separately by those auditors.
Report on Internal Control over Financial Reporting
In planning and performing our audit of the financial statements, we considered the County’s internal control
over financial reporting (internal control) as a basis for designing the audit procedures that are appropriate in
the circumstances for the purpose of expressing our opinions on the financial statements, but not for the
purpose of expressing an opinion on the effectiveness of the County’s internal control. Accordingly, we do not
express an opinion on the effectiveness of the County’s internal control.
A deficiency in internal control exists when the design or operation of a control does not allow management or
employees, in the normal course of performing their assigned functions, to prevent, or detect and correct,
misstatements on a timely basis. A material weakness is a deficiency, or combination of deficiencies, in internal
control such that there is a reasonable possibility that a material misstatement of the entity’s financial
statements will not be prevented or detected and corrected on a timely basis. A significant deficiency is a
deficiency, or a combination of deficiencies, in internal control that is less severe than a material weakness, yet
important enough to merit attention by those charged with governance.

95

Our consideration of internal control was for the limited purpose described in the first paragraph of this section
and was not designed to identify all deficiencies in internal control that might be material weaknesses or
significant deficiencies and therefore, material weaknesses or significant deficiencies may exist that were not
identified. We identified certain deficiency in internal control, described in the accompanying schedule of
findings and questioned costs as item 2025-001 that we consider to be a material weakness.
Report on Compliance and Other Matters
As part of obtaining reasonable assurance about whether the County’s financial statements are free from
material misstatement, we performed tests of its compliance with certain provisions of laws, regulations,
contracts and grant agreements, noncompliance with which could have a direct and material effect on the
financial statements. However, providing an opinion on compliance with those provisions was not an objective
of our audit, and accordingly, we do not express such an opinion. The results of our tests disclosed no instances
of noncompliance or other matters that are required to be reported under Government Auditing Standards.

County’s Response to Findings
Government Auditing Standards requires the auditor to perform limited procedures on the County’s response to
the findings identified in our audit and described in the accompanying schedule of findings and questioned
costs. The County’s response was not subjected to the other auditing procedures applied in the audit of the
financial statements and, accordingly, we express no opinion on the response.
Purpose of This Report
The purpose of this report is solely to describe the scope of our testing of internal control and compliance and
the result of that testing, and not to provide an opinion on the effectiveness of the entity’s internal control or on
compliance. This report is an integral part of an audit performed in accordance with Government Auditing
Standards in considering the entity’s internal control and compliance. Accordingly, this communication is not
suitable for any other purpose.

Casper, Wyoming
March 11, 2026

Porter, Muirhead, Cornia & Howard
Certified Public Accountants

96

Converse County, Wyoming
June 30, 2025
Schedule of Findings and Responses

Material Weakness in Internal Control over Financial Reporting
2025-001
Significant Audit Adjustments
Criteria
An internal control structure should be designed to identify adjusting journal entries that are significant to
Converse County, Wyoming’s (the County) financial statements, which are prepared in accordance with
accounting principles generally accepted in the United States of America (U.S. GAAP). Fundamental
concepts in an adequate system of internal control are the identification and prevention or detection of
errors on a timely basis.

Condition
Adjusting journal entries were proposed as follows:
• To increase accounts payable by approximately $1,500,000 relating to county roads and capital
projects fund

Cause
The accounts payable schedule prepared for accrual adjustments lacked a secondary review beyond the
individual who prepared the underlying support.

Effect or Potential Effect
Prior to the proposed audit adjustments, the financial statements were not properly stated in accordance
with U.S. GAAP.

Recommendation
We recommend that current internal control policies and procedures be enhanced to ensure that there
are proper control activities, which include a separate review and approval of all listings that are used to
support related journal entries.

Views of Responsible Officials
The Converse County Clerk and appropriate staff will review accounts payable processes and procedures
and adjust accordingly to ensure pay applications, particularly those relating to major projects, are
thoroughly reviewed from June through September prior to payment to ensure work is recorded in the
same fiscal year it was performed.

97

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Board of Commissioners
Converse County, Wyoming

107 No. 5th St., Suite 114 • Douglas, WY 82633-2448 • 307-358-2244 • Fax 307-358-5998
Jim Willox, Chair • Rick Grant, Vice-Chair • Robert Short • Trent Kaufman • Donald Blackburn
Schedule of Prior Year Audit Findings
2024-001: Significant Audit Adjustments
Name of Contact Person: Karen Rimmer, Clerk

Condition
Adjusting journal entries were proposed as follows:
•

To increase accounts payable by approximately $1,900,000 relating to county roads and capital projects
fund

•

To increase capital assets by approximately $2,500,000 relating to additions from previous years.

Status
This finding has been repeated.
2024-002: Reporting
Name of Contact Person: Karen Rimmer, Clerk

Condition
The amounts reported on the annual report to the Department of Treasury were not completed. Additionally,
the report was not submitted timely.

Status
This finding has been corrected.

This page is intentionally left blank

Board of Commissioners
Converse County, Wyoming

107 No. 5th St., Suite 114 • Douglas, WY 82633-2448 • 307-358-2244 • Fax 307-358-5998
Jim Willox, Chair • Rick Grant, Vice-Chair • Robert Short • Trent Kaufman • Donald Blackburn

CORRECTIVE ACTION PLAN
FINANCIAL STATEMENT FINDINGS
Finding 2025-001 – Significant Audit Adjustments
Name of Contact Person:
Karen Rimmer, County Clerk
Corrective Action Plan:
The Converse County Clerk and appropriate staff will review accounts payable processes and procedures and
adjust accordingly to ensure pay applications, particularly those relating to major projects, are thoroughly
reviewed from June through September prior to payment to ensure work is recorded in the same fiscal year it
was performed.
Proposed Completion Date:
Fiscal year ended June 30, 2026.

Unapproved Minutes
Board of Commissioners of Converse County
March 3 and 4, 2026
The regular meeting was called to order at 8:05 a.m. on March 3, 2026. Present in person
were Commission Chairman, Jim Willox; Commission Vice-Chairman Rick Grant;
Commissioners Robert Short, Trent Kaufman and Donald Blackburn; and County Clerk, Karen
Rimmer.
The Commissioners reviewed all warrants and documentation presented for the meeting.
No action was taken.
Mr. Chris Caskey, Technical Services Director, and Mr. Nate Hughes, Technical Services
Administrator, provided updates on completed and upcoming surplus auction items. The
Commissioners authorized the market value and sale of one new crated 2008 CAT C9 400HP
Engine and one Mohawk TP-15 two post floor hoist; both items will be listed on an upcoming
online Public Surplus auction. Other departmental updates included Special Projects and updates
on various subdivisions; multiple ongoing maintenance projects for County facilities; personnel;
upcoming work sessions; and updates on County Surveyor, GIS, IT, and janitorial. Significant
email security and cybersecurity issues were discussed along with increased awareness and the
upcoming implementation of various email security measures. The department as a whole has
multiple upcoming and ongoing projects. No action was taken.
Mr. Mike Jennings, Relic Services LLC, provided updates on the Shooting Range Complex
Improvements Project, including a detailed overview of drainage improvements, quotes received,
and next steps. Following discussion, Mr. Blackburn moved to approve the contract between
Converse County and Henry Bros LLC for installation of a storm drainage system, surface
restoration, and testing as presented in the amount of $730,000 as recommended by Relic Services,
LLC; Mr. Grant seconded. Mr. Short stated for the record that he does not have any professional
or financial affiliation or connection with Relic Services and therefore has no conflict with voting
on this contract. No further discussion and motion carried. Additional updates and next steps were
provided, and the Commissioners directed Mr. Jennings to develop bid specifications for buildings
and other site improvements with the understanding the County Clerk will administer the process,
accept and open bids, and field questions which will be shared will all interested bidders. Relic
Services will also be eligible to bid on projects, which will be disclosed at the onset of any bid
process.
The meeting recessed at 12:00 p.m. and reconvened at 1:00 p.m.
Mr. Russ Dalgarn, Emergency Management Director, provided departmental updates
including the status of a tower replacement project; the construction of a new tower; and other
ongoing and upcoming projects. Other discussions concerned various accidents and a building
fire. No action was taken.
Mr. Todd Mattson and Mr. Kenny Sission, HDR Engineering, Inc., provided brief updates
on the Jenne Trail Road Reconstruction Project Phase 3. Following discussion, Mr. Blackburn
moved to recess into Executive Session pursuant to W.S. 16-4-405(a)(vii) to consider the selection
Page 1 of 7

of a site or the purchase of real estate when the publicity regarding the consideration would cause
a likelihood of an increase in price. Mr. Short seconded; motion carried. The regular meeting
recessed at 2:10 p.m. and reconvened at 2:33 p.m.; no action was taken. Mr. moved to approve
the construction contract between Converse County and Croell, Inc. for the Jenne Trail Road
Phase 3 and Ross Road Reconstruction Project in the amount of $18,774,070 with substantial
completion no later than October 15, 2027, or two hundred fifty working days, whichever comes
first, contingent upon review by HDR Engineering; Mr. Blackburn seconded; motion carried. Mr.
Kaufman moved to approve the Short Term and Long-Term Right of Way Applications from the
Office of State Lands and Investments for the Ross Road/Jenne Trail Phase 3 project as follows:
WYWY106775891 for a construction area and WYWY 106696373 for construction of the
roadway to improve safety and reduce maintenance of the current gravel roadway as presented;
Mr. Grant seconded; motion carried. Other departmental updates included other major road
projects; road maintenance; reclamation projects; signage; specific bore and public utility right of
way permits and related unsatisfactory workmanship; and the status of approved grants for dust
suppression and road safety, including Congestive Mitigation Air Quality, High Risk Rural Roads
Project, and Safe Streets for All. The Department would like to bid on wood chipping equipment
through an auction company; the process by which this would occur was discussed, and Road &
Bridge will work with the Clerk if they decide to proceed. No further action was taken.
Mr. Kenny Sission, HDR Engineering, Inc., representing the LaPrele Irrigation District
(LID), provided updates on the LaPrele Dam project and presented a draft temporary construction
easement to enable LID temporary access and use on and around the newly acquired Countyowned lands near Natural Bridge during the project. Other considerations within the agreement
included fencing; restricted and public access; electrical service; water well development; and the
required process for projects that receive state and federal funding. Following further discussion,
Mr. Short moved to approve the State of Wyoming Surface Lessee Notification and Comment
Form for submittal to the Office of State Lands and Investments upon completion and further
authorized any Commissioner to sign the form upon legal review by the County Attorney; Mr.
Kaufman seconded; motion carried. Following discussion of the temporary construction easement
and needed amendments, Mr. Blackburn moved to approve the Temporary Construction Easement
between LaPrele Irrigation District and Converse County for a temporary easement within the
NW1/4NW1/4 of Section 21, T32N, R73W, of the 6th P.M. for $10.00 and other good and valuable
consideration contingent upon inclusion of agreed-upon amendments and legal review by the
County Attorney; Mr. Kaufman seconded; motion carried. Various ideas were then discussed
regarding how to best utilize the park for future public use; no further action was taken.
The regular meeting recessed at 4:33 p.m. and reconvened at 8:36 a.m. on Wednesday,
March 4, 2026.
The minutes of the February 3 and 4, 2026, regular meeting were approved and ordered
filed.
Mr. Grant moved to approve February 2026 Accounts Payable in the amount of
$6,301,648.02: 307 Services $175.00 Svcs; 307 Signs&More $84.00 Printing; 5 ACES Printing
$2,480.50 Printing; A Diamond Trucking $15,300.00 Road Maint; AT&T Mobility $2,493.30
Page 2 of 7

Utilities; Advanced Geotechnical $18,670.00 Road Maint; Airgas $59.37 Svcs; ALSCO
$2,209.75 Svcs; Amazon Capital $2,638.09 Supplies; Anadarko E&P Onshore $845.00 Svcs;
Arete Design Group $17,570.33 Contract; Atlas Office Products $3,646.62 Supplies; Atlas
Premier Service $1,395.46 Lease; Atlas Reproduction/PEAC $344.70 Lease; B&B Leasing
$1,285.97 Lease; B&B Aggregates $446,250.00 Road Maint; Barnes Law $737.20 Legal; Big
Horn Services $3,346.22 Svcs; Bison Pump&Supply $650.86 Supplies; Black Hills Energy
$21,077.00 Utilities; Blackburn Cattle Co $28,200.00 Road Maint; Blackburn, Donald $461.73
Tech Reimb; Bliss, Mary $174.00 Reimb; Bloedorn Lumber $508.71 Supplies; Blue Collar
Logistics $34,200.00 Road Maint; Bob Barker Company $443.80 Supplies; Bob Ruwart Motors
$549.69 Svcs; The Body Shop $190.00 Wellness; Bomgaars $617.25 Supplies; Bonanza Earth
Relocators $40,800.00 Road Maint; Boys & Girls Club of Douglas $7,375.00 Allocation; Boys &
Girls Clubs of Central Wyoming $6,818.18 Allocation; Bryan C Cropper $380.00 Inmate Med;
Buckley Powder $89,088.28 Svcs; Butch's Propane $827.27 Utilities; Carquest Douglas
$3,156.62 Supplies; Casteel, Robert $1,680.00 Legal; CDI $916.91 Svcs; CDW Government
$93,889.21 Equip; Centric Elevator Corp $990.00 Svcs; CenturyLink $3,155.29 Utilities; CIGNA
$355,393.81 Insurance; City of Douglas $2,749.91 Insurance; CleverPath IT $4,680.69 Svcs;
Coca Cola Bottling $39.00 Supplies; Converse County Firewise $3,200.00 Allocation; Converse
County Library $722,115.50 Allocation; Converse County Search&Rescue Unit $450.00
Retirement; Cowboy Chemical $111.60 Supplies; Cowboy Supply House $2,280.93 Supplies;
Decker Auto Glass $1,077.97 Svcs; Defense Technology $750.00 Svcs Delta Dental $16,498.40
Insurance; Dilts, Jerry J $2,265.00 Rent; Dotson, Hunter $150.00 Reimb; Douglas Business
Center $68.25 Supplies; Douglas FR & Embroidery $60.00 Svcs; Douglas Grocery $47.64
Supplies; Douglas Hardware $326.51 Supplies; Douglas Med Spa $60.00 Wellness; Douglas Tire
Center $4,969.30 Svcs; Doyle, Kellynne $675.97 Reimb; DRU Consulting $4,963.98 Consult; E
Benefits $177.50 Insurance; WY Earth Work Solutions $340,378.65 Road Maint; Eastern WY
College $2,695.00 Contract; Elevate Glenrock $32,280.20 Utilities; The Enterprise $24,434.88
Allocation; EnviroTech $7,756.88 Equip; Fastenal Co $239.41 Svcs; FDL Architecture $4,930.92
Svcs; First American Title $1,699,794.54 Insurance; Gillette Community College District
$2,486.75 Svcs; Glenrock Hardware Hank $175.97 Supplies; Glenrock Health Center $2,400.00
Rent; Glenrock Housing Authority $2,167.00 Reimb; Glenrock Independent $52.00 Printing;
Gorman Funeral Homes $3,380.00 Allocation; Grainger $4,298.11 Supplies; Granite
Telecommunications $1,894.73 Utilities; Grant, Richard C $113.10 Reimb; GreatAmerica
Financial $711.06 Lease; Greiner Ford of Casper $1,307.84 Svcs; gWorks $2,977.00 Allocation;
H&J Trucking $34,125.00 Road Maint; HDR Engineering $171,616.21 Road Maint; Health
Merch $170.00 Supplies; Heintz Surveying and Engineering $2,130.00 Svcs; Henson, Tiffany
$36.25 Reimb; High Country Behavioral Health $5,416.66 Allocation; Hilltop National Bank
$331.00 Insurance; Homax Oil Sales $68,145.64 Svcs; Huxtable, Dixie $4,741.13 Reimb; I D
Checking Guide $33.95 Svcs; Igo Oil Field Service $47,700.00 Road Maint; IMA $7,916.66
Consult; Inner Strength Therapeutic Massage $120.00 Wellness; Interstate Batteries $529.85
Supplies; Jerry s Welding-Steel Fab $2,820.91 Parts/Svcs; Justin Miller Trucking $45,200.00
Road Maint; Kaufman, Trent $188.50 Reimb; KCK $13,200.00 Road Maint; Kelly's
Page 3 of 7

Alignment&Brake $535.00 Svcs; Kone $1,503.54 Svcs; Laboratory Corp of America $752.08
Svcs; Laramie Peak Humane Society $2,083.33 Allocation; Laramie Range Water
Treatment&Plumbing $2,004.50 Supplies; Lavine, Randi $36.25 Reimb; Legend Services
$21,300.00 Road Maint; Lexisnexis Matthew Bender $1,916.00 Svcs; Loco Luna $15,600.00
Road Maint; Loenbro $1,950.79 Svcs; Lopez, Jaqueline $36.25 Reimb; Massage Therapy by Silke
Hodges $300.00 Wellness; The Master's Touch $412.45 Svcs; McKesson Medical $1,045.68
Svcs; McKillip Trucking $12,600.00 Road Maint; Memorial Hospital of CC $320,331.13
Allocation; Menards $729.97 Supplies; Mittleider, M Stacey $90.24 Reimb; Moore's Heavy
Equipment $3,647.40 Equip; Motor Power Equipment $330.80 Equip; Motorola Solutions
$174,295.51 Svcs; Mountain Retreat Massage $60.00 Wellness; Mountain West Technologies
$104.95 Utilities; Nelico $964.57 Svcs; Newman Signs $360.03 Parts; Niobrara Electric $96.75
Utilities; NMS Labs $681.00 Svcs; Norco $679.65 Supplies; O Reilly Automotive $81.90
Supplies; ODP Business $323.74 Supplies; OffenderWatch $200.36 Svcs; Office of the State
Public Defender $117,836.54 Allocation; Olsen, Christie $14,700.00 Road Maint; Palen Law
$1,884.00 Legal; PartsOne $697.68 Parts; Peak Fitness $475.00 Wellness; Pitney Bowes $216.12
Supplies; Plainsman Printing $3,685.94Printing; Pope Construction $225,122.45 Contract; Porter,
Muirhead, Cornia&Howard $25,000.00 Contract; Price Trucking $17,512.50 Road Maint;
Principal Life $3,563.91 Insurance; Pure Raine Salon $710.00 Wellness; Quill Corporation
$703.00 Supplies; R & R Rest Stops of Casper $313.50 Svcs; Range $1,539.52 Supplies; Reaper
Logistics $42,900.00 Road Maint; Richardson Construction $122,926.26 Contract; Ricoh $8.88
Supplies; Roc Doc Mobile Windshield Repair $45.00 Svcs; Rocky Mountain Power $21,466.02
Utilities; Rocky Mountain Wash $86.00 Svcs; Ron s Supply $475.84 Supplies; Sam s Club
$1,004.54 Supplies; Sanofi Pasteur $3,115.58 Supplies; Schell, Joel $477.05 Reimb; Secretary of
State $120.00 Svcs; Shatto s Frontier Drug $3,354.85 Allocation; Short Powerline $6,936.00
Svcs; Short, Robert $2,860.40 Tech Reimb; ShredAmerica $782.28 Svcs; Shuler Kristy $72.50
Reimb Si Senor $1,200.00 Svcs; Smiley Face Logistics $15,600.00 Road Maint; Sovos
Compliance $137.76 Allocation; State of Wyoming $146.37 Svcs; Stop Stick Ltd $1,676.00
Supplies; Strode Forensics $2,220.00 Svcs; Summit Food $20,523.28 Svcs; Texas Refinery Corp
$608.00 Parts; TGOB Material $47,852.12 Road Maint; Thalken, Twyla $637.50 Svcs; Top
Office Products $821.23 Lease; Town of Glenrock $1,040.62 Rent; Trane US $2,208.34
Parts/Svcs; Tyler Technologies $5,300.59 Svcs; U S Postmaster $386.00 Supplies; Univ Of
Wyoming $7,083.00 Reimb; UW 4-H in Converse County $166.10 Reimb; Verizon Wireless
$717.90 Utilities; Visa $8,743.88 Supplies/Equip; Visionary Communications $1,354.49 Utilities;
Voice Products $4,046.74 Allocation; Vyve Broadband $211.56 Utilities; Wagner, Allegra $29.51
Reimb; Watson, Kristin $185.60 Reimb; Western Dakota Energy Assoc $100.00 Svcs; Western
Skies Technology $9,181.00 Svcs; Western States & Tribal Nations $5,000.00 Allocation; Wild
West Mobile Repair $810.00 Allocation; Willox Jim $861.40 Reimb; WLC
Engineering&Surveying $5,416.51 Contract; Wright, Triston $150.00 Reimb; WY Behavioral
Institute $10,556.00 Svcs; Wy Dept of Health-Public Health Nursing $25,155.60 Allocation; WY
First Aid&Safety $112.31 Supplies; WY Local Government Liability Pool $399.05 Allocation;
WY Machinery $392,315.55 Parts/Svcs; WY Public Health Lab $531.00 Svcs; WY
Page 4 of 7

Rigging&Industrial $4,322.05 Supplies/Equip; WY T2/LTAP Center $2,720.00 Svcs; Wyoming
Law Enforcement Acedemy $1,350.00 Svcs; Wyoming Safety Supply $150.00 Supplies; Youth
Development Services $4,166.66 Allocation; Z Lazy Y Trucking $12,000.00 Road Maint; Zen
Spa $120.00 Wellness; February monthly reports Clerk $46,100.96; Clerk of District Court
$5,251.76; Road & Bridge $59,695.70; NOVC 2025-0631 Chesapeake Operating $145.45;
NOVC 2026-0134 Continental Resources $115,179.95; NOVC 2026-0035 Wold Energy Partners
$2727.66 & $379.22 & $7.62; Mr. Short seconded; Commissioners abstained from voting on
warrants pertaining to themselves; motion carried.
Mr. Kaufman moved to approve the transfer of $1,699,794.54 from Fund 173 MAVSF
(Monthly Ad Valorum Stabilization Fund) to Fund 150 Capital Construction Misc for the purchase
of lands adjacent to Ayres Natural Bridge Park from B.K. Killion LLC; Mr. Blackburn seconded.
It was stated for the record that these funds are from mineral production taxes and not any other
type of tax; motion carried.
Mr. Short moved to approve Amendment No. 4 to Notice of Additional Services with FDL
Services, LLC for the redesign of water main line location and coordination of the electrical vault
location for the Animal Shelter Expansion Project for additional fees of $7,750 for a total new
cost of $583,477; Mr. Blackburn seconded; motion carried.
Following clarification of process, Mr. Grant moved to accept the proposal and approve
the contract from Inberg-Miller Engineering, Inc. for third-party testing services at the Eastern
Wyoming College Construction Technology Addition based upon the Schedule of Fees and
Available Services as presented and as recommended by Arete Design and further authorized the
Chairman to sign upon legal review by the County Attorney; Mr. Short seconded; motion carried.
Mr. Short moved to purchase additional half-page ads with the Douglas Budget/Glenrock
Independent magazines to promote the County in all six magazines at the bundled cost of $2,040;
Mr. Kaufman seconded. Discussion followed regarding promotion of major County projects,
including Natural Bridge Park, Eastern Wyoming College Construction Technology Addition,
Animal Shelter Expansion Project, and Glenrock Office Project; motion carried.
A County-wide business review took place with updates provided by the Assessor; Clerk
of District Court; Technical Services; UW Extension; Public Health; HR; Parks & Recreation;
Clerk; and Commissioners. Discussion included the FY2027 budget, tentative schedule, and new
budget software; 4-H enrollment and activities; personnel; cyber security; AI use, policy, and
protections; major construction projects; and various conferences and trainings. Lengthy
discussion of the 2026 Legislative Session ensued including potential impacts on local
government and the public. No action was taken.
Mr. Willox opened a public hearing at 10:03 a.m. to consider and obtain public comment
on a subdivision application to vacate Lots 1 and 4 of the H4U Subdivision and replat the same
into Lot 1 as DeGraw Subdivision, containing approximately 36.68 acres and being a portion of
the SE1/4SE1/4 of Section 13, and the N1/2NE1/4 of Section 24, T31N, R70W, 6th P.M.,
Converse County, Wyoming, addressed as 19 and 24 Freedom Way. Ms. Tory Walsh, Special
Projects Coordinator, provided an overview of the application and answered questions form the
Commissioners, including the sequence of ownership related to the vacate and replat. The
Page 5 of 7

Planning & Zoning Commission recommended approval of the application at their January 20,
2026 meeting. The applicant, Ms. Nikki DeGraw, was not present, and there were no public or
written comments received in favor or opposition of the application. The public hearing closed at
10:16 a.m. Following further discussion, Mr. Short moved to approve the DeGraw Subdivision
subject to the following revisions: that H4U Inc./Mr. Charles Heglund be removed as a signer
from the plat, and all parties must execute and record a deed from H4U, Inc. to Ms. Nikki Walker
for Lot 1 of H4U Subdivision prior to the recording of the plat related to this application; Mr.
Blackburn seconded. Further discussion followed to ensure clarity of the process; motion carried.
Mr. Willox opened a public hearing at 10:30 a.m. to consider and obtain public comment
on an application to create Phipps Minor Subdivision No. 2, situated in the SE1/4NE1/4 of Section
10, and the SW1/4NW1/4 of Section 11, T33N, R75W of the 6th P.M., Converse County,
Wyoming, addressed as 10 Sage Court. Ms. Tory Walsh, Special Projects Coordinator, provided
an overview and history of the application beginning in April 2025, and answered questions from
the Commissioners. This application was requested by the County as voluntary compliance
following a legal opinion from the County Attorney pertaining to ownership as deeds had been
recorded resulting in the discovery of this being an illegal subdivision. The application has been
reviewed, revised, and presented to and recommended for approval by the Planning & Zoning
Commission with technical changes at their regular meeting on December 16, 2025, which have
been incorporated. It was also approved by the Town of Glenrock on November 13, 2025. The
applicant, Ms. Debbie Phipps, was not present, and there were no public comments received in
favor or opposition of the application. The public hearing closed at 10:36 a.m. Mr. Short moved
to approve the Phipps Minor Subdivision No. 2 as presented with no modifications. Mr. Kaufman
seconded; motion carried.
Mr. Kristin Watson, HR Director, provided an overview of potential revisions to the
Converse County Personnel Policy related to PTO, Administrative Leave, and Personal Leave.
Following lengthy discussion, including the negative connotation of Administrative Leave,
medical leave, wellness benefits, and various shift hours, the Commissioners provided direction
for additional revisions. No action was taken.
The meeting recessed for lunch at 12:10 p.m. and reconvened at 1:30 p.m.
Ms. Jessie Dykehouse, FDL Consulting, LLC, provided updates on major construction
projects. A detailed review with stakeholders of the most recent design plans for the Courthouse
Level 1 and 2 Studies took place, and recommended revisions were requested. The civil and
structural building assessments have been received and will be reviewed by FDL Consulting with
a report to follow at a subsequent meeting. The Glenrock Office project was discussed; this
building will serve as office spaces for County departments as well as County network
redundancy, and the necessary space for redundancy was discussed as well as stakeholder
meetings and outcomes. An overview of the Animal Shelter Expansion Project was provided as
well; this project is currently on time and budget due in part to favorable weather. There will be
three large and separate concrete pours for the kennel area that will be completed over a two-day
span. Following review of the next steps, Mr. Grant moved to authorize Commissioner Trent
Kaufman to approve and sign any subsequent Change Order Requests for this project, which will
Page 6 of 7

be presented to the entire body as part of a Change Order for approval, and to become the
Commission lead on this project; Mr. Blackburn seconded; motion carried.
A regular meeting of this Board will be held on Tuesday March 17, 2026, at 8:00 a.m.,
unless otherwise posted, at the Converse County Courthouse within Commission Chambers,
located at 107 N. 5th Street, Douglas, Wyoming. The public is invited to attend. To get on the
agenda, call the Clerk’s Office by the Thursday before the meeting. Per W.S. §18-3-516(f), access
to county information can be obtained at www.conversecountywy.gov or by calling the County
Clerk’s Office at (307) 358-2244.

James H. Willox, Chairman

Karen Rimmer, County Clerk
Publish: March 11, 2026, Douglas Budget & Glenrock Independent

Page 7 of 7

CONVERSE COUNTY,
WYOMING
Financial Report
June 30, 2025

CONVERSE COUNTY,
WYOMING

Financial Report
June 30, 2025

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Table of Contents
Independent Auditor’s Report…………………………………………………………………………………………………………..…..…………….

1

Management’s Discussion and Analysis (Unaudited)……………………………………………………………………..……...………….

4

Basic Financial Statements………………………………………………………………………………………………………………..…..……………..
Government-Wide Financial Statements
Statement of Net Position…………………………………………………………………………………………………………..…………...…………
Statement of Activities…………………………………………………………………………………………………………………..………...…………
Fund Financial Statements
Balance Sheet - Governmental Funds……………………………………………………………………………………………..………...……..
Reconciliation of the Governmental Funds Balance Sheet to the Statement of Net Position…………………….……
Statement of Revenues, Expenditures, and Changes in Fund Balances of Governmental Funds……………..……...
Reconciliation of the Statement of Revenues, Expenditures, and Changes in Fund Balances of
Governmental Funds to the Statement of Activities………………………………………………………………………………....…...
Statement of Net Position - Proprietary Fund…………………………………………………………………………………………….……
Statement of Revenues, Expenses, and Changes in Fund Net Position - Proprietary Fund………………...…..……….
Statement of Cash Flows - Proprietary Fund………………………………………………………………………………………………..…..
Statement of Fiduciary Net Position - Fiduciary Fund………………………………………………………………..………………..…..
Statement of Changes in Fiduciary Net Position – Fiduciary Fund…………………………………………………………………..
Discretely Presented Component Units Statements
Combining Statement of Net Position………………………………………………………………………………………………………..……
Combining Statement of Activities………………………………………………………………………………...…………………………..…….
Notes to the Financial Statements………………………………………………………………………………………………………………..……....

18
19
20
22
24
25
27
28
29
30
31
32
33
35
37

Required Supplementary Information……………………………………………………………………………………………………..…...…….
Infrastructure Assets Reported Using the Modified Approach (Unaudited)………………………………………………....……...
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual
(Budgetary) - General Fund (Unaudited)…………………………………………………………………………………………..……......……...
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual
(Budgetary) – Joint Justice Center Joint Powers Board (Unaudited)…………………………………………..………..…………….
Schedule of Changes in Net Pension Liability and Related Ratios (Unaudited)…………………………………..…..……………
Schedule of Pension Contributions (Unaudited)…………………………………………………………………………..………..……………..
Notes to the Required Supplementary Information…………………………………………………………………………..…..……….........

80
81

Compliance Section…………………………………………………………………………………………………………………………..…………………....
Report on Internal Control Over Financial Reporting and on Compliance and Other Matters Based on
an Audit of Financial Statements Performed in Accordance with Government Auditing Standards ……..………..…

94

Schedule of Prior Year Audit Findings
Corrective Action Plan

i

84
86
87
89
91

95

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INDEPENDENT AUDITOR'S REPORT

Board of County Commissioners
Converse County, Wyoming

Report on the Audit of the Financial Statements

Opinions
We have audited the financial statements of the governmental activities, the aggregate discretely presented
component units, each major fund, and the aggregate remaining fund information of Converse County,
Wyoming, as of and for the year ended June 30, 2025, and the related notes to the financial statements, which
collectively comprise Converse County, Wyoming’s basic financial statements as listed in the table of contents.
In our opinion, based on our audit and the reports of the other auditors, the accompanying financial statements
referred to above present fairly, in all material respects, the respective financial position of the governmental
activities, the aggregate discretely presented component units, each major fund, and the aggregate remaining
fund information of Converse County, Wyoming, as of June 30, 2025, and the respective changes in financial
position, and, where applicable, cash flows thereof for the year then ended in accordance with accounting
principles generally accepted in the United States of America.
We did not audit the financial statements of the Memorial Hospital of Converse County, the Converse County
Weed and Pest Control District, and the Converse County Airport Board, which represents 83 percent, 82
percent, and 98 percent, respectively, of the assets, net position, and revenues of the aggregate discretely
presented component units as of June 30, 2025. Those statements were audited by other auditors whose reports
have been furnished to us, and our opinion, insofar as it relates to the amounts included for the Memorial
Hospital of Converse County, the Converse County Weed and Pest Control District, and the Converse County
Airport Board, is based solely on the reports of the other auditors.

Basis for Opinions
We conducted our audit in accordance with auditing standards generally accepted in the United States of
America (GAAS) and the standards applicable to financial audits contained in Government Auditing Standards
issued by the Comptroller General of the United States (Government Auditing Standards). Our responsibilities
under those standards are further described in the Auditor’s Responsibilities for the Audit of the Financial
Statements section of our report. We are required to be independent of Converse County, Wyoming, and to
meet our other ethical responsibilities, in accordance with the relevant ethical requirements relating to our audit.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our
audit opinions.

1

Responsibilities of Management for the Financial Statements
Management is responsible for the preparation and fair presentation of these financial statements in accordance
with accounting principles generally accepted in the United States of America, and for the design,
implementation, and maintenance of internal control relevant to the preparation and fair presentation of
financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, management is required to evaluate whether there are conditions or
events, considered in the aggregate, that raise substantial doubt about the Converse County, Wyoming’s ability
to continue as a going concern for twelve months beyond the financial statement date, including any currently
known information that may raise substantial doubt shortly thereafter.

Auditor’s Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free
from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our
opinions. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a
guarantee that an audit conducted in accordance with GAAS and Government Auditing Standards will always
detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from
fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions,
misrepresentations, or the override of internal control. Misstatements are considered material if there is a
substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a
reasonable user based on the financial statements.
In performing an audit in accordance with GAAS and Government Auditing Standards, we:
• Exercise professional judgement and maintain professional skepticism throughout the audit.
• Identify and assess the risks of material misstatement of the financial statements, whether due to fraud
or error, and design and perform audit procedures responsive to those risks. Such procedures include
examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements.
• Obtain an understanding of internal control relevant to the audit in order to design audit procedures
that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the
effectiveness of the Converse County, Wyoming’s internal control. Accordingly, no such opinion is
expressed.
• Evaluate the appropriateness of accounting policies used and the reasonableness of significant
accounting estimates made by management, as well as evaluate the overall presentation of the financial
statements.
• Conclude whether, in our judgement, there are conditions or events, considered in the aggregate, that
raise substantial doubt about the Converse County, Wyoming’s ability to continue as a going concern
for a reasonable period of time.
We are required to communicate with those charged with governance regarding, among other matters, the
planned scope and timing of the audit, significant audit findings, and certain internal control-related matters
that we identified during the audit.

Required Supplementary Information
Accounting principles generally accepted in the United States of America require that the management’s
discussion and analysis, infrastructure assets reported using the modified approach, budgetary comparison
information, pension schedules, and related ratios, as listed in the table of contents, be presented to supplement
the basic financial statements. Such information is the responsibility of management and, although not a part of
the basic financial statements, is required by the Governmental Accounting Standards Board who considers it to
2

be an essential part of financial reporting for placing the basic financial statements in an appropriate
operational, economic, or historical context. We, and other auditors, have applied certain limited procedures to
the required supplementary information in accordance with auditing standards generally accepted in the United
States of America, which consisted of inquiries of management about the methods of preparing the information
and comparing the information for consistency with management’s responses to our inquiries, the basic financial
statements, and other knowledge we obtained during our audit of the basic financial statements. We do not
express an opinion or provide any assurance on the information because the limited procedures do not provide
us with sufficient evidence to express an opinion or provide any assurance.
Other Reporting Required by Government Auditing Standards
In accordance with Government Auditing Standards, we have also issued our report dated March 11, 2026 on
our consideration of Converse County, Wyoming’s internal control over financial reporting and on our tests of its
compliance with certain provisions of laws, regulations, contracts, grant agreements and other matters. The
purpose of that report is solely to describe the scope of our testing on internal control over financial reporting
and compliance and the results of that testing, and not to provide an opinion on the effectiveness of Converse
County, Wyoming’s internal control over financial reporting or on compliance. That report is an integral part of
an audit performed in accordance with Government Auditing Standards and in considering Converse County,
Wyoming’s internal control over financial reporting and compliance.

Casper, Wyoming
March 11, 2026

Porter, Muirhead, Cornia & Howard
Certified Public Accountants

3

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MANAGEMENT’S
DISCUSSION
AND ANALYSIS

4

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Converse County, Wyoming
June 30, 2025
Management’s Discussion and Analysis
(Unaudited)

This section of Converse County, Wyoming’s (County) annual financial report presents our discussion and
analysis of financial performance during the fiscal year ended June 30, 2025. The selected financial data
presented was derived from the financial statements of the County, which were audited by Porter, Muirhead,
Cornia and Howard, Certified Public Accountants. The Independent Auditor’s Report, financial statements and
accompanying notes and supplementary information should be read in conjunction with the following
discussion.

Financial Highlights
The County's total assets and deferred outflows of resources exceeded liabilities and deferred inflows of
resources as of June 30, 2025, by $258,487,125 (Net Position). Of this amount $98,576,475 (Unrestricted Net
Position) may be used to meet ongoing obligations, and $153,604,336 is invested in capital assets, net of related
debt.
As of June 30, 2025, the County’s governmental funds reported combined fund balances of $103,236,173.
Unassigned fund balance of the governmental fund balance was $(20,680,385).
The fund balance for the general fund was $61,695,252 as of June 30, 2025, with an unassigned fund balance of
$(33,438,832).

Overview of the Financial Statements
The discussion and analysis are intended to serve as an introduction to the County’s basic financial statements.
In general, the purpose of the financial reporting is to provide external parties that read financial statements
with information that will help them to make decisions or draw conclusions about an entity. These parties do not
always have the same specific objectives. In order to address the needs of as many parties as reasonably
possible the County’s, in accordance with required reporting standards, annual report consists of five
components 1) management’s discussion and analysis (this section); 2) government - wide financial statements;
3) fund financial statements; 4) discretely presented component unit statements and 5) notes to the basic
financial statements. Required Supplementary Information and Supplementary Information are included in
addition to the basic financial statements.

Government-Wide Financial Statements
The focus of the County’s government-wide financial statements is on the overall financial position and activities
of Converse County, Wyoming, similar to the focus of a private sector business. The County’s government-wide
financial statements include the statement of net position and statement of activities. The purpose of the
statement of net position is to report all of the assets held and liabilities owed by the County. The County
reports all of its assets when it acquires ownership over the assets and reports all of its liabilities when they are
incurred. The difference between the County’s total assets, deferred outflows, total liabilities, and deferred
inflows is titled net position and this difference is similar to the owner’s equity presented by a private sector
business. Although the purpose of the County is not to accumulate net position, this amount does indicate the
financial position of the County.
The purpose of the statement of activities is to present all the revenues and expenses of the County. Again, the
items presented on the statement of activities are measured in a manner similar to the approach used by a
private sector business in that revenues are recognized when earned or established criteria are satisfied, and
expenses are reported when incurred by the County.
5

Converse County, Wyoming
June 30, 2025
Management’s Discussion and Analysis
(Unaudited)

Government-Wide Financial Statements (Continued)
Revenues are reported even when they may not be collected for several months after the end of the accounting
period and expenses are recorded even though they may not have been paid during the current period.
Although the statement of activities looks different from a private sector business’ income statement, the
statement is different only in format, not substance. Whereas the private sector reports its bottom line as net
income, the County reports an amount described as change in net position, essentially the same thing.
The focus of the statement of activities is on the net cost of various activities provided by the County. The first
column identifies the cost of each of the County’s major functions. Another column identifies the specific
revenues related to the classified governmental functions. The difference between the expenses and revenues
related to specific programs computes the net cost or benefit of the program, which identifies the extent to
which each function of the County draws from general revenues or is self-sufficient through fees,
intergovernmental aid, and other sources of resources.
Both of these government-wide financial statements would distinguish functions of the County that are
principally supported by taxes and intergovernmental revenues (governmental activities) from other functions
that are intended to recover all or in part a portion of their costs through user fees and charges (business-type
activities). All of the County activities are governmental activities.
The government-wide financial statements include not only Converse County itself, (known as the primary
government), but also the following legally separate entities: the Converse County Weed and Pest Control
District, the Converse County Airport Board, the Converse County Library and Foundation, the Memorial Hospital
of Converse County, the Converse County Fair, and the Joint Justice Center Joint Powers Board. The County is
financially accountable for these entities and appoints directors to their boards which require them to be
identified as component units of Converse County, Wyoming. Financial information for these component units is
reported separately from the financial information presented for the primary government itself. Complete
financial statements for the Converse County Weed and Pest Control District, the Converse County Airport
Board, and the Memorial Hospital of Converse County may be obtained from each entity’s administrative offices.
The Converse County Library and Foundation, Joint Justice Center Joint Powers Board, and the Converse County
Fair do not issue separate financial statements.

Fund Financial Statements
The fund financial statements provide more detailed information about the County’s most significant funds, not
the County as a whole. Funds are accounting devices that the County uses to keep track of specific sources of
funding and spending. Except for the General Fund, a specific fund is established to satisfy legal requirements
established by external parties or governmental statutes or regulations. The County establishes other funds to
control and manage money for particular purposes or to show that it is properly using certain resources. The
County’s fund financial statements are divided into three broad categories, governmental funds, proprietary
funds, and fiduciary funds.
Governmental fund financial statements consist of a balance sheet and statement of revenues, expenditures, and
change in fund balances. The statements are prepared on an accounting basis that is significantly different from
those used to prepare the governmental financial statements. All of the County programs are included in the
governmental funds, which focus on how cash and other financial assets can readily be converted to cash flow in
and out in a short period of time. For example, amounts reported on the balance sheet include items such as
cash and receivables collectable within a short period of time, but do not include capital assets such as land and
buildings.
6

Converse County, Wyoming
June 30, 2025
Management’s Discussion and Analysis
(Unaudited)

Fund Financial Statements (Continued)
Fund liabilities include amounts that are to be paid in a short period after the end of the fiscal year. The
difference between a fund’s total assets and total liabilities is labeled as the fund balance. The fund balance
generally indicates the amount that can be used to finance next year’s activities. The operating statement for
governmental funds reports only those revenues and expenditures that were collected in cash or paid in cash,
respectively, during the current period or very shortly after the end of the year.
Consequently, the governmental funds statements provide a short-term view that helps determine if there are
more or fewer financial resources to finance the County’s programs. Because this information does not
encompass the long-term focus of the government-wide statements, we provide an analysis of the balance
sheet reconciling the total fund balances to the amount of net position reported in the statement of net
position. Also, there is an analysis of the statement of revenues, expenditures, and changes in fund balances that
reconciles to the change in net position presented in the government-wide statement of activities.
The County presents in separate columns funds that are most significant to the County.
The County uses a proprietary fund to account for its medical insurance activity. A proprietary fund provides the
same type of information as the government-wide financial statements, only in more detail. The proprietary fund
financial statements provide separate information for the Internal Service Fund.
Fiduciary funds are used to account for assets held by the County for the benefit of other parties. Fiduciary funds
are not presented in the government-wide financial statements because the resources of these funds are not
available to finance the County’s activities. However, the financial statements of fiduciary funds are included in
the County’s financial statements because the County is financially accountable for these resources, even though
they belong to other parties.
Notes to the basic financial statements provide additional information that is essential to a full understanding of
data provided in the government-wide and fund statements.
Required Supplementary Information is presented concerning the County’s General Fund and Joint Justice
Center Joint Powers Board budgets. The County adopts an annual budget for all funds. A budgetary comparison
schedule has been provided to demonstrate compliance with this budget. Required Supplementary Information
also includes infrastructure assets reported using the modified approach, schedules of changes in net pension
liability, ratios and pension contributions.

Government–Wide Financial Analysis
As noted earlier, net position may serve over time as a useful indicator of the County’s financial position. The
County’s assets and deferred outflows exceeded liabilities and deferred inflows by $258,487,125. A large portion
of the County’s net position (approximately 60%) reflects its investment in capital assets. The vast majority of
these capital assets are the County’s roads and bridges. These assets are not available for future spending. The
unrestricted net position of $98,576,475 (38%) may be used to meet the County’s ongoing obligations.

7

Converse County, Wyoming
June 30, 2025
Management’s Discussion and Analysis
(Unaudited)

Government–Wide Financial Analysis (Continued)
The County’s net position for the governmental activities as of June 30, 2025, was as follows:
ASSETS
Current assets
Capital assets, net of accumulated depreciation
Total assets

2025
$

175,957,293
155,102,305
331,059,598

2024
$

168,088,010
132,326,262
300,414,272

Variance
$

7,869,283
22,776,043
30,645,326

DEFERRED OUTFLOWS OF RESOURCES

2,318,127

3,084,557

(766,430)

LIABILITIES
Current liabilities
Unearned property tax revenue
Due in more than one year
Total liabilities

8,435,246
43,713,954
10,567,174
62,716,374

8,240,101
40,076,773
10,993,848
59,310,722

(195,145)
(3,637,181)
426,674
(3,405,652)

8,678,291
3,495,935
12,174,226

8,705,575
3,921,126
12,626,701

27,284
425,191
452,475

153,604,336
6,306,314
98,576,475
258,487,125

131,107,028
5,630,904
94,823,474
231,561,406

22,497,308
675,410
3,753,001
26,925,719

DEFERRED INFLOWS OF RESOURCES
Unavailable property tax revenue
Pension items
NET POSITION
Net investment in capital assets
Restricted
Unrestricted
Total net position

$

$

$

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8

Converse County, Wyoming
June 30, 2025
Management’s Discussion and Analysis
(Unaudited)

Government–Wide Financial Analysis (Continued)
The following schedule details the changes in net position for the County’s governmental activities:
Revenues
General
Taxes
Property
Sales
Other
Payments in lieu of taxes
Investment income
Miscellaneous
Program Revenues
Charges for services
Operating grants and
contributions
Capital grants
contributions
Total revenues
Expenses
General government
Public safety
Public safety - Joint Justice
Center
Public works
Health, welfare, and
recreation
Conservation of natural
resources
Total expenses

2025

$ 43,215,263
13,144,994
6,092,369
637,575
5,874,551
113,591

Percentage

2024

Variance

57.7% $ 52,722,358
17.5%
14,092,555
8.1%
4,367,383
0.9%
959,473
7.8%
5,413,975
0.2%
290,432

58.1% $ (9,507,095)
15.6%
(947,561)
4.8%
1,724,986
1.1%
(321,898)
6.0%
460,576
0.3%
(176,841)

3,634,495

4.9%

4,135,405

2,180,886

2.9%

7,298,542

4.6%
0.0%
8.1%

(5,117,656)

65,000
74,958,724

0.1%
100.0%

1,265,540
90,545,663

1.4%
100.0%

(1,200,540)
(15,586,939)

19,879,820
9,505,725

41.4%
19.8%

16,059,795
7,742,618

37.7%
18.2%

3,820,025
1,763,107

2,019,546
14,990,651

4.2%
31.2%

1,782,867
15,683,225

4.2%
36.8%

236,679
(692,574)

1,439,952

3.0%

1,143,169

2.7%

296,783

197,311
48,033,005

0.4%
100.0%

163,514
42,575,188

0.4%
100.0%

33,797
5,457,817

Changes in net position

26,925,719

47,970,475

Net position, beginning of year

231,561,406

183,590,931

$ 258,487,125

$ 231,561,406

Net position, end of year

Percentage

(500,910)

$ (21,044,756)

Financial Analysis of the County’s Funds
The County’s activities are contained in the General, County Roads, Capital Projects, Joint Justice Center Joint
Powers Board, and other non-major special revenue funds. As previously mentioned, the focus of the County’s
governmental funds is to provide information on the near-term inflows, outflows and balances of expendable
resources. At June 30, 2025, the County’s governmental funds reported combined fund balances of
$103,236,173.

9

Converse County, Wyoming
June 30, 2025
Management’s Discussion and Analysis
(Unaudited)

Financial Analysis of the County’s Funds (Continued)
The General Fund serves as the County’s primary operating fund. While the County has continued to experience
positive revenue growth, the rate of growth has moderated over the past three fiscal years. Revenues increased
by 39.7% in FY 2023, 29.3% in FY 2024, and 10.7% in FY 2025.
The General Fund began the fiscal year with a balance of approximately $56 million. As of June 30, 2025, the
total fund balance was $61,695,252. The unassigned General Fund balance at year-end was $(33,438,832). The
negative unassigned balance is attributable to unreconciled mineral tax payments.
Mineral tax revenues are collected monthly prior to the annual mill levy being set in August. These revenues will
be reconciled to the approved mill levy in September 2025 (FY 2026).
The County Road Fund is used to account for the construction and maintenance of County roads not financed
through the General Fund. As of June 30, 2025, the County Road Fund reported a fund balance of $24,269,292,
representing a 34.85% decrease from the prior year ending fund balance of $37.3 million in FY 2024.
County road maintenance and construction projects accounted for 88.1% of the County’s total capital outlay in
FY 2025, representing a 76% increase compared to FY 2024. Expenditures totaled approximately $29.4 million in
FY 2025, compared to $16.7 million in FY 2024.
Major capital and infrastructure projects undertaken during the current fiscal year represent a significant
increase of the County’s expenditures. Some of these projects include:


Chalk Buttes Road and Ridgewater Road Reconstruction — The project was budgeted at $7,000,000, with
final expenditures expected to be $7,503,234. The project is expected to be completed in FY 2026.



Boxelder Road Reconstruction – Phase II — Budgeted at $5,602,000, with final expenditures of $4,989,166.
The project was completed in FY 2025.



Colter Trail Paving Project — Budgeted at $1,500,000, with final expenditures expected to be $1,408,661. The
project is expected to be completed in FY 2026.



Jenne Trail Road Reconstruction – Phase II — Budgeted at $13,377,000, with total project costs to date of
$12,765,289. The project is expected to be completed in FY 2026.



Jenne Trail Road Reconstruction – Phase III — Budgeted at $13,377,000, design and planning activities
commenced in FY 2025; however, construction is not anticipated to begin until FY 2026.

Additional notable road projects budgeted in FY 2025 included $1.0 million for maintenance on Windy Ridge,
$1.7 million for gravel on Cold Springs Road, $4.6 million for gravel on Highland Loop, and $2.3 million for
gravel on Twenty Mile Creek Road.
The County received funding under the Congestion Mitigation and Air Quality (CMAQ) program to partially
offset costs associated with projects on Ross Road, Jenne Trail, and Esterbrook Road. The CMAQ program
provides federal funding for transportation projects and programs that contribute to improved air quality. The
County utilizes these funds to reduce fine particulate matter generated from unpaved roads. Total
reimbursements received under this program during FY 2025 amounted to $170,456.
During FY 2025, the County received funding under the federal High Risk Rural Roads (HRRR) grant program to
install an estimated 963 delineator posts along East Antelope, Anderson Dairy Rd, Deer Creek, and Natural
Bridge Rd. The total grant award was $110,509. Of this amount, $75,663 was expended during the fiscal year.
10

Converse County, Wyoming
June 30, 2025
Management’s Discussion and Analysis
(Unaudited)

Financial Analysis of the County’s Funds (Continued)
Grant reimbursements totaled $68,468, with the remaining $7,196 representing the County’s required local
match.
The Capital Projects Fund is used to account for major construction projects throughout the County, which are
financed primarily through transfers from the General Fund. As of June 30, 2025, the Capital Projects Fund
reported a total fund balance of $12,748,391, compared to a prior year balance of $(45,393). During FY 2025,
transfers totaling $15,410,442 were made to fund projects spanning FY 2025 and FY 2026. Significant projects
include the John Lambert Sewer and Water Improvement Project, construction of the Animal Shelter, Natural
Bridge Irrigation Replacement, and renovation of the existing Courthouse.
The Joint Justice Center Joint Powers Board is a blended component unit of the County and is reported as a
special revenue fund. It accounts for the operations of the Converse County Joint Justice Center (CCJJC). The
County holds a 74% ownership interest and is responsible for 74% of the CCJJC’s expenditures, with the City of
Douglas responsible for the remaining 26%.
Total governmental fund revenues for the fiscal year ended June 30, 2025, were approximately $76.4 million,
representing a 15.4% decrease from FY 2024.
The decline in revenues was anticipated. The 2024 tax valuation decreased from a record-setting $4.38 billion in
2023 to $3.56 billion in 2024, resulting in lower property tax revenues. Intergovernmental revenues also declined.
In FY 2023, the County entered into an agreement with Eastern Wyoming College, the City of Douglas, and the
Town of Glenrock for an Economic Development Administration (EDA) grant. Revenues received from these
entities for matching requirements increased reported intergovernmental revenues in FY 2023, creating a higher
comparative base.
The following schedule presents revenues by source.
Revenues
Taxes
Licenses and permits
Intergovernmental revenues
Charges for services
Investment income
Miscellaneous revenues
Total revenues

2025
$ 63,920,512
1,411,446
3,073,363
2,223,049
5,756,995
69,311
$ 76,454,676

Percentage
2024
83.6% $ 73,346,852
1.9%
1,721,601
4.0%
7,329,606
2.9%
2,413,804
7.5%
5,320,301
0.1%
167,916
100.0% $ 90,300,080

Percentage
Variance
81.2% $ (9,426,340)
1.9%
(310,155)
8.1%
(4,256,243)
2.7%
(190,755)
5.9%
436,694
0.2%
(98,605)
100.0% $ (13,845,404)

11

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Converse County, Wyoming
June 30, 2025
Management’s Discussion and Analysis
(Unaudited)

Financial Analysis of the County’s Funds (Continued)

Revenues
Licenses and permits
1.9%
Intergovernmental
revenues 4.0%
Charges for services
2.9%
Investment income
7.5%

Taxes 83.6%

Miscellaneous revenues
0.1%

Total governmental fund expenditures for Fiscal Year 2025 were $70,542,401. Capital outlay and General
Government remained the County’s largest expenditure categories, representing 47.3% and 28.3% of total
governmental fund expenditures, respectively. These expenditures primarily reflect county operations, road
maintenance and construction activities, and capital improvement projects.
Overall governmental fund expenditures increased from $54.6 million in FY 2024 to $70.5 million in FY 2025,
representing an increase of 29.3%. The increase is primarily attributable to expanded road construction and
maintenance efforts, as well as significant capital construction activity undertaken during the fiscal year.
The following schedule presents expenditures by activities.
Expenditures
Current
General government
Public safety
Public works
Health, welfare and
recreation
Conservation of natural
resources
Capital outlay
Total expenditures

2025
$ 19,944,224
10,197,922
5,321,707
1,497,867
195,056
33,385,625
$ 70,542,401

Percentage

2024

Percentage

Variance

28.3% $ 15,929,856
14.5%
8,597,912
7.5%
5,325,231

29.1% $
15.8%
9.8%

4,014,368
1,600,010
(3,524)

2.1%

2.3%

236,409

1,261,458

0.3%
161,920
47.3%
23,298,378
100.0% $ 54,574,755

0.3%
33,136
42.7%
10,087,247
100.0% $ 15,967,646

12

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Converse County, Wyoming
June 30, 2025
Management’s Discussion and Analysis
(Unaudited)

Financial Analysis of the County’s Funds (Continued)

Capital outlay 47.3%

Expenses

Conservation of
natural resources 0.3%
Health, welfare &
recreation 2.1%

Public works 7.5%

General government
28.3%
Public safety 14.5%

As of June 30, 2025, the County reported total reserves of approximately $94 million, representing an increase of
$19.4 million from FY 2024. These reserves are allocated as follows: Operating Reserve — $3.9 million, Building
Reserve — $47.7 million, Equipment Reserve — $11.2 million, Salary Reserve — $4.4 million, Depreciation
Reserve — $1.2 million, Ad Valorem Stabilization Fund — $25.5 million.
The Ad Valorem Stabilization Fund was established in 2023 in response to changes in the collection timing of
mineral taxes. Due to consistent monthly collections, the County did not utilize these reserves during FY 2025,
and no additional contributions were budgeted.
Navajo Transitional Energy Company (NTEC), the purchaser of the North Antelope coal mine, continues to remit
monthly payments toward approximately $8 million in delinquent property taxes resulting from the bankruptcy
of the former owner, Cloud Peak Energy. As of June 30, 2025, the outstanding balance for all tax years was less
than $2 million.

Capital Assets
Capital assets increased by 17.2%, from $132.3 million at June 30, 2024, to $155.1 million at June 30, 2025. The
increase was primarily attributable to growth in infrastructure assets, which increased by 29.1%, and construction
in progress, which increased by 24.9%. These categories accounted for the majority of the overall increase in
capital assets and reflect the County’s continued investment in road improvements and other capital
construction projects during the fiscal year.
13

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Converse County, Wyoming
June 30, 2025
Management’s Discussion and Analysis
(Unaudited)

Capital Assets (Continued)
Significant infrastructure activity during FY 2025 included Phase II & III of the Jenne Trail reconstruction project
and a multi-phase reconstruction of Boxelder Creek Road, which will extend into future fiscal years. Funding
sources include overweight and oversize permit revenues.
Other construction and infrastructure projects included: Ayres Natural Bridge Park Irrigation Replacement
Project, Lambert Subdivision Sewer and Water Improvement Project, Chalk Buttes/Ridgewater Road
Reconstruction Project (design initiated in FY 2024), and Colter Trail Paving Project, the Animal Shelter Expansion
Project, and a Level I and Level II study in preparation for future renovation of the Courthouse.
Capital equipment acquisitions included two police-package Chevrolet Tahoe’s at $54,516 each and one
additional Sheriff’s vehicle at $59,468. The County also purchased two snowplows at $280,000 each. Three
county vehicles were sold via public auction in early 2025 for a total of $38,229.
During FY 2025, the Sheriff’s Department received funding through the Homeland Security Grant Program for
the acquisition of a court security X-ray scanner. The total grant award was $51,622. Eligible expenditures under
the program totaled $51,495, which were reimbursed by the grant.
In January 2025, the County acquired property located at 215 South 4th Street, Glenrock, for $157,000. The
property is intended to house some County offices in the future.
Additional information on Converse County’s capital assets can be found in Note 6.

Debt Administration
At June 30, 2025, the County reported total long-term obligations of $11,567,005, consisting of note obligations,
incurred but not reported claims payable, compensated absences, and net pension liability. The net pension
liability of $9,116,731 represents the County’s proportionate share of the unfunded liability of the State of
Wyoming Retirement System, a cost-sharing, multiple-employer public employee retirement system.
Note obligations include loans issued on behalf of the Conservation District ($250,000), Weed and Pest District
($300,000), and Glenrock Cemetery District ($410,000). Repayment began in December 2023. Each borrowing
entity is required to remit 8% payments to the State of Wyoming. As of June 30, 2025, the Conservation and
Weed and Pest District’s notes were paid in full, with $344,400 remaining outstanding for the Glenrock Cemetery
District.
More information on the County’s long-term debt can be found in Note 8.

14

Converse County, Wyoming
June 30, 2025
Management’s Discussion and Analysis
(Unaudited)

Property Tax
Converse County participated in the property tax refund program for the 2023 tax year. Refund applications
were processed and paid in October 2024. A total of 470 applicants received refunds totaling $236,773, funded
by the General Fund.
Mineral tax payments are received monthly and are based on the prior-year’s mill levies and estimated values.
The reconciliation of mineral taxes for the 2024 tax year (done in FY2025) resulted in an overpayment of
$2,544,042. As of June 30, 2025, 67.6% of the overpayment had been refunded to the taxpayer, with $364,072
remaining payable.
Tax Year 2024 was the first year in which the 4% residential assessment cap established under House Bill 45 was
applied. The legislation limits year-over-year increases in residential property tax valuations. As a result, the
County’s taxable market value was reduced by approximately $12.7 million.

Fiscal Year 2025 Budget
Revenues for FY 2025 were projected to decline from the prior year total of $81.6 million. In anticipation of
reduced collections, the General Fund adopted a budget of $68.7 million. Actual revenues for FY 2025 totaled
$75,506,961, exceeding the budgeted amount.
FY 2025 reflected a decline in assessed valuation from a record $4.3 billion in 2023 to $3.56 billion in 2024.
Despite the reduction in valuation and related revenues, the County expended just over $30.0 million on road
construction and maintenance and transferred $15.4 million to the Capital Projects Fund to support major
construction initiatives, including the Animal Shelter, Courthouse renovation planning, and the John Lambert
Subdivision infrastructure project.
Although the County had significant capital and infrastructure expenditures, the County increased reserve
balances during the fiscal year, budgeting contributions of $1.5 million to the Building and Maintenance Reserve,
$250,000 to the Equipment Reserve, and $250,000 to the Salary Reserve.
During FY 2025, mineral tax reconciliation for the 2024 tax year had no significant impact on the General Fund.
Estimated mineral tax payments totaled $34,403,301, compared to actual reconciled collections of $34,381,175.
Construction of the Cedar Springs IV project began in October 2023. The County received monthly impact
payments of $99,164 from November 2023 through March 2025, totaling approximately $1.69 million. These
funds were utilized in FY 2025 for road repair and maintenance (including Willow Creek Road and Ross Road),
cattle guard replacements, and supplemental law enforcement, ambulance, and fire protection services
associated with project impacts.
The County began receiving opioid settlement distributions from various pharmaceutical manufacturers,
distributors, and pharmacies in FY 2023. For FY 2025, the County budgeted $128,000 in anticipated settlement
revenue; however, actual receipts totaled $142,288, exceeding budgeted expectations.

15

Converse County, Wyoming
June 30, 2025
Management’s Discussion and Analysis
(Unaudited)

Next Year’s Budget and Rates
The County finished Fiscal Year 2025 in good shape, budgeting $68.7 million in revenue and receiving $75.5
million. In the Fiscal Year 2026 budget, the County is anticipating a revenue decrease, budgeting $63.5 million, a
drop of 4.8%, in spite of the overall county valuation bouncing back from a significant decline, increasing from
$3.56 billion to $3.8 billion.
The revenue decrease stems largely from an anticipated drop in oil prices, which averaged $71.39 per barrel in
Fiscal Year 2025 but dropped to $63.36 per barrel in the first half of Fiscal Year 2026. Since oil represents 74% of
the county’s overall value, the drop resulted in a lower revenue projection in spite of the increased certified
value, which represents mineral sales from the prior year.
Expenditures for Fiscal Year 2026 were budgeted 11% higher than FY 2025, rising from $42.6 million to $47.5
million. The increase is attributable to road projects and ongoing capital projects. For example, the County
budgeted $22 million for the reconstruction of Jenne Trail, $2.5 million for improvements on Walker Creek Road,
and $7 million to reconstruct Chalk Buttes Road, just to name a few. Capital projects include the ongoing
construction of the Animal Shelter, a contribution towards the Eastern Wyoming College Trades Addition, and
the purchase of a building in Glenrock that will eventually house county offices. In all, $4.4 million was
transferred from the General Fund to the Capital Construction Fund for projects.
The County also added to reserves, transferring $2.75 million to the Building & Maintenance Reserve, $1 million
to the Equipment Reserve, and $250,000 to the Salary Reserve.

Economic Factors
The County’s future revenues are heavily reliant on mineral production and price, especially oil, which has been
steadily declining in price over the last eighteen months. The price per barrel began calendar year 2025 at $70.45
and ended the year at $57.97. In the most recent six months, it averaged $61.30. Wyoming’s Consensus Revenue
Estimating Group (CREG) is estimating that oil prices will hover between $60 and $70 per barrel between 2025
and 2030, which should result in fairly steady oil revenues for the county.
The resulting monthly mineral payments received from the Department of Revenue reflect these trends. The
County received $37.4 million in mineral payments in Fiscal Year 2025 and has averaged $2.92 million per month
in Fiscal Year 2026, projecting to a total of $34.3 million. If oil prices stabilize as CREG projects, the County’s
revenue should remain fairly stable, between $34 and $39 million, through 2030.
Converse County continues to lead the state in oil production, with 44.4 million barrels produced in Fiscal Year
2025 and a projection of 52 million barrels in Fiscal Year 2026. CREG is estimating stable oil production through
2030, which should mean a stable revenue foundation for the County.
Natural gas valuation peaked in Converse County in 2023, at $610 million, reflecting prices around $7.00 per
million cubic feet (mcf) of gas. The price has dropped drastically since then, averaging $2.48 per mcf in Fiscal
Year 2025 and $3.79 per mcf in Fiscal Year 2026. The result was a $262 million natural gas valuation for tax year
2025. CREG is estimating that natural gas prices in the state will be steady around $4.00 per mcf through 2030.
With stable natural gas production, averaging around 9 million mcf, natural gas revenues should be stable
through 2030.

16

Converse County, Wyoming
June 30, 2025
Management’s Discussion and Analysis
(Unaudited)

Economic Factors (Continued)
Other minerals should also supplement future revenues. Converse County has not had any coal production since
2021, but in August of 2025, the Department of the Interior approved a mining plan that unlocked 14.5 million
tons of federally owned coal at the Antelope Mine, which is operated by Navajo Transitional Energy Company
(NTEC). The decision effectively extends the life of the mine through 2037 and should result in future coal
production in Converse County, likely beginning in 2028. The coal market estimates from CREG are soft,
expecting prices to sag from $14 per ton in 2025 to $13.75 per ton in 2030, so it remains to be seen how much
revenue will result from renewed coal production.
Renewable energy projects in the county, which have been a revenue supplement for the last ten years, have
stalled. Although the Cedar Springs IV wind farm came online in late 2025, other projects that were expected to
begin construction in Fiscal Year 2026 have been pushed back.
The Dutchman Renewable Solar Energy Facility, a $97 million, 4,738-acre solar farm was to begin construction in
late 2025 but has been pushed back to 2027. The Settler Wind Farm, a 13,000-acre, $233 million dollar project
that was projected to begin construction in the second half of 2025 has been postponed until at least November
2027. The Pronghorn Clean Hydrogen & Fuels Project, a $1.7 billion facility to generate hydrogen, became
controversial for its use of state land and has pivoted away from hydrogen towards a wind farm, solar farm and
perhaps a data center. Its construction schedule is now unknown.
While the construction delays are due to many factors, the uncertainty of federal subsidies is certainly playing a
role, after the administration announced in October 2025 that they were canceling $7.6 billion in grants for
renewable projects across the country.
The result of the project delays is that sales tax revenues have been down, especially in sectors representing
industrial projects. In Fiscal Year 2025, the county averaged $7.4 million per month in sales tax collections, with
wholesale sales making up 14% of the total. In Fiscal Year 2026, the county has so far averaged $5.5 million
monthly, with the wholesale sector accounting for 7% of overall collections.
Sales taxes from the mineral sector have also been down, averaging $2.7 million per month in FY 2025 and $1.6
million monthly in FY 2026, a 40% decrease. However, there are signs that new exploration, which drives sales
tax revenues, is picking up in the county. In February 2026, there were 11 drilling rigs in the State of Wyoming,
with 6 operating in Converse County.
Overall, barring unforeseen events like a war in the Middle East, County revenues are expected to remain steady
and solid through 2030.

Conclusion
The above discussion and analysis are presented to provide additional information regarding the activities of the
County and also to meet the disclosure requirements. We believe that all requirements of governmental GAAP
have been met as it applies to the County. This financial report is designed to provide a general overview of the
County’s finances for all those with an interest in the government’s finances. If you have questions about the
report or need additional financial information, contact Converse County’s Treasurer at 107 N 5th Street, Suite
129, Douglas, Wyoming 82633.
Three of the County’s component units issue financial statements. Financial statements can be obtained for the
Memorial Hospital of Converse County, the Converse County Airport Board and the Converse County Weed and
Pest District by contacting each entity directly.
17

BASIC
FINANCIAL
STATEMENTS

18

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Converse County, Wyoming
June 30, 2025
Statement of Net Position

ASSETS
Cash and cash equivalents
Cash held by fiscal agent
Investments
Property and other taxes receivable
Accounts receivable, net $13,679,000 uncollectible
Accrued interest receivable
Due from other governments
Lease receivable, current portion
Inventory
Prepaid items and other assets
Due from primary government
Restricted cash and cash equivalents, noncurrent
Restricted investments, noncurrent
Other assets, noncurrent
Lease receivable, noncurrent
Beneficial interest in assets held by others
Capital assets not being depreciated
Capital assets being depreciated, net of
accumulated depreciation
Total assets
DEFERRED OUTFLOWS OF RESOURCES
Excess of acquisition over consideration
Pension plan items
Total deferred outflows of resources
LIABILITIES
Accounts payable and accrued liabilities
Retainage payable
Due to other governments
Unearned property tax revenue
Noncurrent liabilities
Due within one year
Due in more than one year
Total liabilities
DEFERRED INFLOWS OF RESOURCES
Unavailable property tax revenue
Lease receivable
Pension plan items
Total deferred inflows of resources
NET POSITION
Net investment in capital assets
Restricted by
State statutes (W.S. 24-2-110)
Grantors and others
Voters
Donor - expendable
Donor - nonexpendable
Unrestricted
Total net position

Primary Government
Governmental
Activities

Component Units

$

$

$

37,831,786
115,645,165
16,045,240
172,240
712,945
4,188,201
658,612
703,104
111,879,179

Total
11,226,372
142,800
4,211,864
579,398
36,993,043
6,428
4,118,761
1,404,555
552,784
98,799
14,523,622
278,852
56,816
298,690
15,050,670

43,223,126
331,059,598

53,984,822
143,528,276

2,318,127
2,318,127

46,276,782
155,921
46,432,703

6,690,627
646,372
98,416
43,713,954

16,023,997
-

999,831
10,567,174
62,716,374

10,770,931
29,713,094
56,508,022

8,678,291
3,495,935
12,174,226

1,043,734
61,359
192,275
1,297,368

153,604,336

63,857,798

4,041,572
2,264,742
98,576,475
258,487,125

2,357,524
9,039,668
581,927
56,318,672
132,155,589

$

See accompanying notes to the financial statements

19

Converse County, Wyoming
Year Ended June 30, 2025
Statement of Activities

Function/Programs
Primary government
Governmental activities
General government
Public safety
Public safety - Joint Justice Center
Public works
Health, welfare, and recreation
Conservation of natural resources
Total primary government/
governmental activities
Component units

Charges for
Services

Expenses

Program Revenues
Operating
Grants and
Contributions

Capital
Grants and
Contributions

$ 19,879,820
9,505,725
2,019,546
14,990,651
1,439,952
197,311

$

2,427,818
232,996
765,542
208,139
-

$

1,568,812
109,393
68,822
433,859
-

$

65,000
-

$ 48,033,005

$

3,634,495

$

2,180,886

$

65,000

$ 149,706,229

$ 146,440,105

$

8,877,538

$

4,690,996

General revenues
Property taxes
Sales taxes
Other taxes
Payments in lieu of taxes
Unrestricted investment income
Gain on sale capital assets
Miscellaneous
Total general revenues
Change in net position
Net position, beginning as previously reported
Adoption of GASB 101
Net position, beginning, as restated
Net position, end of year

See accompanying notes to the financial statements

20

Net (Expense) Revenue and
Changes in Net Position
Primary
Government
Governmental
Activities

$

(15,818,190)
(9,163,336)
(1,254,004)
(14,921,829)
(797,954)
(197,311)
(42,152,624)

$

Component Units
Totals

$

-

-

10,302,410

43,215,263
13,144,994
6,092,369
637,575
5,874,551
44,280
69,311
69,078,343

1,333,027
1,322,063
(34,642)
55,512
2,675,960

26,925,719

12,978,370

231,561,406
231,561,406

119,190,104
(12,885)
119,177,219

258,487,125

$ 132,155,589

21

Converse County, Wyoming
June 30, 2025
Balance Sheet - Governmental Funds

ASSETS
Cash and cash equivalents
Investments
Property and other taxes receivable
Accounts receivable, net
Accrued interest receivable
Due from other governments
Due from other funds
Restricted cash and cash equivalents
Inventory
Total assets
LIABILITIES, DEFERRED INFLOWS OF
RESOURCES AND FUND BALANCES
Liabilities
Accounts payable and accrued liabilities
Due to other funds
Due to other governments
Retainage payable
Unearned property tax revenue
Total liabilities

$

$

$

Deferred inflows of resources
Unavailable property tax revenue
Unavailable other revenue
Total deferred inflows of resources
Fund balances
Nonspendable
Inventory
Restricted
Grantors and others
State statutes (W.S. 24-2-110)
Committed
Joint Justice Center Joint Powers Board
Assigned
Unassigned
Total fund balances
Total liabilities, deferred inflows of
resources and fund balances

County
Roads
Fund

General
Fund

$

24,118,461
80,716,562
16,044,936
161,428
497,881
3,259,928
52,180
124,851,376

$

$

Capital
Projects
Fund

8,047,720
18,522,615
114,300
31,981
658,612
27,375,228

$

$

1,483,925
12,478,829
76,530
953
14,040,237

2,604,092
5,525
98,416
43,713,954
46,421,987

2,502,905
13,473
589,558
3,105,936

1,235,032
56,814
1,291,846

15,964,137
770,000
16,734,137

-

-

-

658,612

-

1,140,000
-

4,041,572

-

93,994,084
(33,438,832)

19,569,108
-

12,748,391

61,695,252

24,269,292

12,748,391

124,851,376

$

27,375,228

$

14,040,237

See accompanying notes to the financial statements

22

Joint Justice
Center Joint
Powers Board
$

$

1,298,896
2,105,922
6,504
12,995
113,600
3,537,917

149,947
149,947

$

Total
Nonmajor
Special Revenue
Funds
$

$

$

395,496
304
4,308
437,339
4,768
703,104
1,545,319

29,797
37,950
67,747

Total
Governmental
Funds
$

$

$

35,344,498
113,823,928
16,045,240
172,240
701,706
3,843,801
56,948
703,104
658,612
171,350,077

6,521,773
56,948
98,416
646,372
43,713,954
51,037,463

-

304
342,000
342,304

15,964,441
1,112,000
17,076,441

-

-

658,612

-

1,124,742
-

2,264,742
4,041,572

3,387,970
-

470
10,056

3,387,970
113,563,662
(20,680,385)

3,387,970

1,135,268

103,236,173

3,537,917

$

1,545,319

$

171,350,077

23

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Converse County, Wyoming
June 30, 2025
Reconciliation of the Governmental Funds Balance Sheet to the Statement of Net Position

Amounts reported for governmental activities in the statement of net
position are different because:
Total fund balances - governmental funds

$ 103,236,173

Capital assets, net of accumulated depreciation used in governmental
activities are not financial resources and, therefore, are not reported
in the governmental fund statements. As capital assets used in
governmental activities are purchased or constructed, the costs of
those assets are reported as expenditures in the governmental funds.
This is the total capital assets net of accumulated depreciation
reported in the government-wide statements.
Since the focus of governmental fund statements is on short-term
financing, some assets will not be available to pay for current
expenditures. Those assets are offset by unavailable revenue
in the governmental funds and are not included in the
governmental fund balances.
Difference in unavailable other revenue
Difference in unavailable property tax revenue

155,102,305

$

1,112,000
7,286,150

An internal service fund is used by management to charge the cost
of medical insurance to individual funds. Assets and liabilities of
the internal service fund are included in governmental activities in
the statement of net position.
Differences between expected and actual experiences, assumption changes
and net differences between projected and actual earnings and
contributions subsequent to the measurement date for the
postretirement benefits (pension) are recognized as deferred outflows
of resources and deferred inflows of resources on the statement of
net position.
Pension plan items - deferred outflows of resources
Pension plan items - deferred inflows of resources
Long-term liabilities exceed the amount that is due and payable in the
current period and are not reported in the governmental funds.
Compensated absences
Net pension liability
Lease purchase obligation
Net position of governmental activities

8,398,150

3,790,910

2,318,127
(3,495,935)

(894,277)
(9,116,731)
(851,597)

(1,177,808)

(10,862,605)
$ 258,487,125

See accompanying notes to the financial statements

24

Converse County, Wyoming
Year Ended June 30, 2025
Statement of Revenues, Expenditures, and Changes in Fund Balances of Governmental Funds

Revenues
Taxes
Licenses and permits
Intergovernmental
Charges for services
Investment income
Miscellaneous
Total revenues

County
Roads
Fund

General
Fund
$

63,450,415
1,411,446
1,639,811
1,329,699
4,427,374
67,211
72,325,956

$

470,097
355
1,061,274
1,531,726

Capital
Projects
Fund
$

141,180
141,180

Expenditures
Current
General government
Public safety
Public works
Health, welfare, and recreation
Conservation of natural resources
Capital outlay
Total expenditures

19,853,088
7,742,725
5,284,977
1,318,225
195,056
1,213,481
35,607,552

29,414,306
29,414,306

2,757,838
2,757,838

Excess (deficiency) of revenues
over expenditures

36,718,404

(27,882,580)

(2,616,658)

Other financing sources (uses)
Transfers in
Transfers out
Proceeds from sale of capital assets
Total other financing sources (uses)

439,489
(31,160,161)
44,280
(30,676,392)

14,901,164
14,901,164

15,410,442
15,410,442

Net changes in fund balances

6,042,012

(12,981,416)

12,793,784

Fund balances, beginning of year
Fund balances, end of year

$

55,653,240
61,695,252

$

37,250,708
24,269,292

$

(45,393)
12,748,391

See accompanying notes to the financial statements

25

Joint Justice
Center Joint
Powers Board
$

$

765,542
122,867
888,409

Total
Nonmajor
Special Revenue
Funds
$

1,433,197
127,808
4,300
2,100
1,567,405

Total
Governmental
Funds
$

63,920,512
1,411,446
3,073,363
2,223,049
5,756,995
69,311
76,454,676

2,098,706
2,098,706

91,136
356,491
36,730
179,642
663,999

19,944,224
10,197,922
5,321,707
1,497,867
195,056
33,385,625
70,542,401

(1,210,297)

903,406

5,912,275

1,361,535
1,361,535

1,201
(953,670)
(952,469)

32,113,831
(32,113,831)
44,280
44,280

151,238

(49,063)

5,956,555

3,236,732
3,387,970

$

1,184,331
1,135,268

$

97,279,618
103,236,173

26

Converse County, Wyoming
Year Ended June 30, 2025
Reconciliation of the Statement of Revenues, Expenditures, and Changes in Fund Balances of
Governmental Funds to the Statement of Activities
Amounts reported for governmental activities in the statement of
activities are different because:
Net change in fund balances - total governmental funds
Governmental funds report capital outlays as expenditures. However,
in the statement of activities the cost of those assets is allocated over
their estimated useful lives and reported as depreciation expense.
These changes are detailed as follows:
Capital asset acquisitions expended in the governmental funds
Depreciation expense for the year
Loss on disposal of capital assets

$

$

5,956,555

25,551,144
(2,738,446)
(36,655)

22,776,043

Pension expenses reported in the statement of activities do not require
the use of current financial resources, and therefore are not reported
as expenditures in governmental funds:
Deferred outflows - pension plan items - prior year
Deferred outflows - pension plan items - current year
Deferred inflows - pension plan items - prior year
Deferred inflows - pension plan items - current year

(3,084,557)
2,318,127
3,921,126
(3,495,935)

(341,239)

The issuance of long-term debt provides current financial resources
to governmental funds, while the repayment of principal consumes
the current financial resources of governmental funds. Neither
transaction, however, has any effect on changes in net position.
This is the net effect of these differences in the treatment of
long term-debt:
Principal payments on lease purchase obligation
Liability for compensated absences - prior year
Liability for compensated absences - current year
Net pension liability - prior year
Net pension liability - current year

114,783
468,172
(894,277)
9,215,689
(9,116,731)

(212,364)

An internal service fund is used by management to charge the cost of
medical insurance to individual funds. The net revenue (expense)
of the internal service fund is reported with governmental activities.
Revenues in the statement of activities that do not provide current
financial resources are not reported as revenues
in the governmental funds.
Difference in unavailable other revenue - prior year
Difference in unavailable other revenue - current year
Difference in unavailable property tax revenue - prior year
Difference in unavailable property tax revenue - current year
Change in net position of governmental activities

469,511

(1,834,476)
1,112,000
(8,286,461)
7,286,150
$

(1,722,787)
26,925,719

See accompanying notes to the financial statements

27

Converse County, Wyoming
June 30, 2025
Statement of Net Position - Proprietary Fund

Governmental
Activity
Internal Service
Fund
ASSETS
Cash and cash equivalents
Investments
Accrued interest receivable
Total assets

$

LIABILITIES
Current liabilities
Accounts payable
Noncurrent liabilities
Incurred but not reported claims
Total liabilities
NET POSITION
Unrestricted
Total net position

2,487,288
1,821,237
11,239
4,319,764

168,854
360,000
528,854

$

3,790,910
3,790,910

See accompanying notes to the financial statements

28

Converse County, Wyoming
Year Ended June 30, 2025
Statement of Revenues, Expenses, and Changes in Fund Net Position - Proprietary Fund

Governmental
Activity
Internal Service
Fund
Operating revenues
Charges for premiums

$

Total operating revenues

4,640,844
4,640,844

Operating expenses
Medical claims net of reinsurance and fees

2,918,297

Operating expenses
Total operating expenses

1,370,592
4,288,889

Operating income

351,955

Nonoperating revenue
Investment income
Total nonoperating revenue

117,556
117,556

Change in net position

469,511

Net position, beginning of year
Net position, end of year

3,321,399
3,790,910

$

See accompanying notes to the financial statements

29

Converse County, Wyoming
Year Ended June 30, 2025
Statement of Cash Flows - Proprietary Fund

Governmental
Activity
Internal Service
Fund
Cash flows from operating activities
Receipts from interfund services provided
Payments to third party administrator for medical costs
Net cash and cash equivalents provided by operating activities

$

Cash flows from investing activities
Purchases of investments
Interest on investments
Net cash and cash equivalents provided by investing activities

4,640,844
(4,002,158)
638,686

(74,948)
110,285
35,337

Net increase in cash and cash equivalents

674,023

Cash and cash equivalents, beginning of year
Cash and cash equivalents, end of year
Reconciliation of operating income to net cash and cash equivalents provided by
operating activities
Operating income
Adjustments to reconcile operating income to cash and cash equivalents
provided by operating activities
Increase (decrease) in cash and cash equivalents resulting from
changes in operating assets and liabilities
Accounts payable
Incurred but not reported claims
Net cash and cash equivalents provided by operating activities

$

1,813,265
2,487,288

$

351,955

$

65,319
221,412
638,686

See accompanying notes to the financial statements

30

Converse County, Wyoming
June 30, 2025
Statement of Fiduciary Net Position - Fiduciary Fund

County
Custodial Fund
ASSETS
Cash and cash equivalents
Property taxes receivable
Total assets

$

15,166,000
29,840,548
45,006,548

LIABILITIES
Due to other taxing units
Total liabilities

14,001,533
14,001,533

DEFERRED INFLOWS OF RESOURCES
Unavailable property taxes
Total deferred inflows of resources

29,840,540
29,840,540

NET POSITION
Restricted for
Individuals, other governments, and organization
Total net position

1,164,475
1,164,475

$

See accompanying notes to the financial statements

31

Converse County, Wyoming
Year Ended June 30, 2025
Statement of Changes in Fiduciary Net Position - Fiduciary Fund

County
Custodial Fund
ADDITIONS
Amounts received from inmates
Child support collections
Collection of taxes, fees, and bonds for other governments and organizations
Total contributions

$

Interest and dividends
Total additions

263,393
204,500,213

DEDUCTIONS
Inmate payments for goods, services, and distributions
Child support distributions
Payments of taxes, fees, and bonds to other governments and organizations
Total deductions

151,079
375,309
203,758,573
204,284,961

Net increase in fiduciary net position
Net position, beginning of the year
Net position, end of the year

218,981
376,836
203,641,003
204,236,820

215,252

$

949,223
1,164,475

See accompanying notes to the financial statements

32

Converse County, Wyoming
June 30, 2025
Combining Statement of Net Position - Discretely Presented Component Units

County
Airport
ASSETS
Cash and cash equivalents
Cash held by fiscal agent
Investments
Property taxes receivable
Accounts receivable, net
Due from primary government
Lease receivable, current portion
Prepaid items and other assets
Inventory
Restricted cash and cash equivalents, noncurrent
Restricted investments, noncurrent
Other assets, noncurrent
Lease receivable, noncurrent
Beneficial interest in assets held by others
Capital assets not being depreciated
Capital assets being depreciated, net of
accumulated depreciation
Total assets
DEFERRED OUTFLOWS OF RESOURCES
Excess of acquisition over consideration
Pension plan items
Total deferred outflows of resources
LIABILITIES
Accounts payable and accrued liabilities
Noncurrent liabilities
Due within one year
Due in more than one year
Total liabilities

$

DEFERRED INFLOWS OF RESOURCES
Unavailable property tax revenue
Lease receivable
Pension plan items
Total deferred inflows of resources
NET POSITION
Net investment in capital assets
Restricted by donors, nonexpendable
Restricted by donors and others, expendable
Restricted by voters
Unrestricted
Total net position

$

206,589
436,423
64,038
6,428
1,912
30,000
48,800
56,816
7,911,355

Weed and Pest
Control
District

County
Hospital
$

3,858,264
2,262,133
36,742,491
1,402,643
3,168,373
12,948,038
230,052
7,026,715

$

4,662,631
577,879
152,536
950,388
12,000

5,941,541
14,703,902

29,872,804
97,511,513

840,880
7,196,314

12,930
12,930

46,276,782
46,276,782

31,159
31,159

80,013

14,413,765

1,487,228

65,395
145,408

10,745,347
28,645,782
53,804,894

223,644
1,710,872

61,359
17,735
79,094

-

1,043,734
60,134
1,103,868

13,786,261
30,000
676,069
14,492,330

31,788,460
8,919,065
49,275,876
89,983,401

852,880
3,559,853
4,412,733

$

$

See accompanying notes to the financial statements

33

County
Library
$

$

2,305,935
142,800
1,513,308
1,519
10,169
511,750
98,799
1,545,584
298,690
100,600

County
Fair
$

Total

192,953
23,809
41,034
-

$

11,226,372
142,800
4,211,864
579,398
36,993,043
552,784
6,428
1,404,555
4,118,761
98,799
14,523,622
278,852
56,816
298,690
15,050,670

17,329,597
23,858,751

257,796

53,984,822
143,528,276

111,832
111,832

-

46,276,782
155,921
46,432,703

12,505

30,486

16,023,997

25,584
778,273
816,362

30,486

10,770,931
29,713,094
56,508,022

114,406
114,406

-

1,043,734
61,359
192,275
1,297,368

17,430,197
581,927
90,603
2,357,524
2,579,564
23,039,815

227,310
227,310

63,857,798
581,927
9,039,668
2,357,524
56,318,672
$ 132,155,589

$

34

Converse County, Wyoming
Year Ended June 30, 2025
Combining Statement of Activities - Discretely Presented Component Units

Program Revenues

Component Units
County Airport
County Hospital
Weed and Pest Control District
County Library
County Fair

Expenses
$

$

954,138
143,216,821
2,336,943
2,503,295
695,032
149,706,229

Operating
Grants and
Contributions

Charges for
Services
$

$

73,122
144,973,737
857,294
3,299
532,653
146,440,105

$

$

517,818
6,109,526
2,070,251
179,943
8,877,538

Capital
Grants and
Contributions
$

$

4,690,996
4,690,996

General revenues
Property taxes
Unrestricted investment income
Loss on sale and disposal of capital assets
Miscellaneous
Total general revenues
Change in net position
Net position, beginning as previously reported
Adoption of GASB 101
Net position, beginning as restated
Net position, end of year

See accompanying notes to the financial statements

35

Net (Expense) Revenue and Changes in Net Position

County
Airport
$

$

4,327,798
4,327,798

Weed and
Pest Control
District

County
Hospital
$

7,866,442
7,866,442

$

(1,479,649)
(1,479,649)

County
Library
$

(429,745)
(429,745)

County
Fair
$

17,564
17,564

Totals
$

4,327,798
7,866,442
(1,479,649)
(429,745)
17,564
10,302,410

1,561
22,422
16,995
40,978

875,080
(34,642)
840,438

1,331,466
193,139
37,761
1,562,366

231,422
231,422

756
756

1,333,027
1,322,063
(34,642)
55,512
2,675,960

4,368,776

8,706,880

82,717

(198,323)

18,320

12,978,370

10,123,554
10,123,554

81,276,521
81,276,521

4,342,901
(12,885)
4,330,016

23,238,138
23,238,138

208,990
208,990

119,190,104
(12,885)
119,177,219

227,310

$ 132,155,589

14,492,330

$

89,983,401

$

4,412,733

$

23,039,815

$

36

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Converse County, Wyoming
June 30, 2025
Notes to the Financial Statements

Note 1.

Nature of Operations and Significant Accounting Policies

Converse County, Wyoming (County) provides a broad range of services to its citizens, including general
government, public safety, transportation, roads and bridges, health, cultural, recreational, conservation and
social services.

Financial Reporting Entity
The County (primary government) is a municipal corporation governed by five elected commissioners. As
required by accounting principles generally accepted in the United States of America, these financial statements
present the County and its component units, entities for which the County is considered to be financially
accountable, and other organizations for which the nature and significance of their relationship with the County
are such that exclusion would cause the County’s financial statements to be misleading or incomplete. Blended
component units, although legally separate entities are, in substance, part of the County's operations, and so
data from those units would be combined with data of the primary government. Each discretely presented
component unit, on the other hand, is reported in a separate column in the combining statements for major
component units to emphasize it is legally separate from the County. Each discretely presented component unit
has a June 30 year-end.

Discretely Presented Component Units
•

The Converse County Airport Board (“County Airport” or “Airport”) provides and maintains aviation
facilities for the County. The Board of County Commissioners approves the Airport’s budget and must
approve any debt issuances. Additionally, the Airport receives funding from the County’s general fund.
Separate audited financial statements can be obtained from the Airport’s administrative offices located
in Douglas, Wyoming.

•

The Memorial Hospital of Converse County (“County Hospital” or “Hospital”) provides and maintains the
Hospital facility for Converse County. The Board of County Commissioners appoints the Hospital’s
board of trustees. The Hospital receives funding from the County’s general fund for ambulance and
indigent care. The Hospital includes the financial data of its component units, the Hospital Foundation
and Summit Memorial Management and Summit Medical Center. Separate audited financial statements
of the Hospital can be obtained from the Hospital’s administrative offices located in Douglas, Wyoming.

•

The Converse County Weed and Pest Control District (“Weed and Pest”) was established for the purpose
of implementing and pursuing an effective program for the control of weeds and pests within the
County. The Board of County Commissioners levies taxes on behalf of the Weed and Pest. Separate
audited financial statements of the Weed and Pest can be obtained from the Weed and Pest
administrative offices located in Douglas, Wyoming.

•

The Converse County Library (“County Library” or “Library”) maintains and manages the operations of
the County Library and library system. The Library is fiscally dependent upon the County. The Board of
County Commissioners approves the Library’s budget and must approve any debt issuances. The
County Library includes the financial data of its component unit, the Converse County Library
Foundation. The Library does not issue separate audited financial statements.

37

Converse County, Wyoming
June 30, 2025
Notes to the Financial Statements

Note 1.

Nature of Operations and Significant Accounting Policies (Continued)

Discretely Presented Component Units (Continued)
•

The Converse County Fair Board (“County Fair” or “Fair Board”) maintains and manages the operations of
the County Fair. The Fair Board is fiscally dependent upon the County. The Board of County
Commissioners approves the Fair Board’s budget. The Fair Board does not issue separate audited
financial statements.

Blended Component Unit
The Converse County Joint Justice Center Joint Powers Board (“Board”) maintains and manages the operations of
the newly constructed Justice Center. The Joint Justice Center Building is 74% funded by the County and 26%
funded by the City of Douglas, cost of operations of the dispatch center are split between the County and the
City of Douglas based on projected usages currently 50/50. Based on these activities, the Board is fiscally
dependent upon the County. The Board is comprised of three County Commissioners and three City Council
representatives and one at-large member. The Converse County Joint Justice Center Joint Powers Board is
reported as a special revenue fund of the County.

Jointly Governed Organization
The Fire Suppression Authority of Converse County was formed by the Converse County Municipal and Joint
Powers Board consisting of the County Commissioners, the City of Douglas, Wyoming, the Town of Glenrock,
Wyoming, the Town of Rolling Hills, Wyoming, and the Town of Lost Springs, Wyoming. The Converse County
Municipal and Joint Powers Board is a separate legal entity created in accordance with the provisions of the
Wyoming Joint Powers Act and does not meet the criteria to be reported as a component unit of the County.
During the fiscal year ended June 30, 2025, the County allocated $1,825,878 to the Converse County Fire
Suppression Authority.

Government-Wide and Fund Financial Statements
The government-wide financial statements (i.e., the statement of net position and the statement of activities)
report information on all of the nonfiduciary activities of the primary government and its component units. For
the most part, the effect of interfund activity has been removed from these statements. Governmental activities,
which normally are supported by taxes and intergovernmental revenues, are reported separately from businesstype activities, which rely to a significant extent on fees and charges for support. Likewise, the primary
government is reported separately from certain legally separate component units for which the primary
government is financially accountable. The statement of activities demonstrates the degree to which the direct
expenses of a given function or segment is offset by program revenues. Direct expenses are those that are
clearly identifiable with a specific function or segment. Program revenues include 1) charges to customers or
applicants who purchase, use, or directly benefit from goods, services, or privileges provided by a given function
or segment and 2) grants and contributions that are restricted to meeting the operational or capital
requirements of a particular function or segment. Taxes and other items not properly included among program
revenues are reported instead as general revenues.

38

Converse County, Wyoming
June 30, 2025
Notes to the Financial Statements

Note 1.

Nature of Operations and Significant Accounting Policies (Continued)

Measurement Focus, Basis of Accounting, and Financial Statement Presentation
Separate financial statements are provided for governmental funds, proprietary funds and fiduciary funds, even
though the latter are excluded from the government-wide financial statements. Major individual governmental
funds and major individual proprietary funds are reported as separate columns in the fund financial statements.
The government-wide financial statements are reported using the economic resources measurement focus and
the accrual basis of accounting, as are the proprietary fund and fiduciary fund financial statements. Revenues
are recorded when earned and expenses are recorded when a liability is incurred, regardless of the timing of
related cash flows. Property taxes are recognized as revenues in the year for which they are levied. Grants and
similar items are recognized as revenue as soon as all eligibility requirements imposed by the provider have
been met.
Governmental fund financial statements are reported using the current financial resources measurement focus
and the modified accrual basis of accounting. Revenues are recognized as soon as they are both measurable
and available. Revenues are considered to be available when they are collectible within the current period.
For this purpose, the government considers revenues to be available if they are collected within 60 days of the
end of the current fiscal period. Expenditures generally are recorded when a liability is incurred, as under accrual
accounting. However, debt service expenditures including lease liabilities, as well as expenditures related to
compensated absences and claims and judgments, are recorded only when payment is due. General capital asset
acquisitions, including entering into contracts giving the County the right-to-use leased assets, are reported as
expenditures in governmental funds. Issuance of long-term debt and acquisitions and financing through leases
are reported as other financing sources.
Property taxes, franchise taxes, licenses, and interest associated with the current fiscal period are all considered
to be susceptible to accrual and so have been recognized as revenues of the current fiscal period. All other
revenue items are considered to be measurable and available only when cash is received by the government.
The County reports the following major governmental funds:

General Fund is the government’s primary operating fund. It accounts for all financial resources of the general
government, except those required to be accounted for in another fund.
County Roads Fund is a capital projects fund and is used to account for the acquisition and construction of

county roads.

Capital Projects Fund is used to account for major construction projects of the County. The construction is
financed from transfers from the General Fund.
Joint Justice Center Joint Powers Board Fund is used to account for the activities of the joint powers board, a

blended component unit of the government. The joint powers board operates the Converse County Joint Justice
Center.
The County reports the following major proprietary fund:

Internal Service Fund accounts for the County’s self-funded medical insurance, which is administered by a thirdparty administrator.

39

Converse County, Wyoming
June 30, 2025
Notes to the Financial Statements

Note 1.

Nature of Operations and Significant Accounting Policies (Continued)

Measurement Focus, Basis of Accounting, and Financial Statement Presentation (Continued)
Additionally, the County reports the following fund types:
The County Custodial Fund is custodial in nature and is used to account for assets that the County holds for
others in a fiduciary capacity (e.g. taxes collected by the treasurer for the benefit of other governments).
As a general rule the effect of interfund activity has been eliminated from the government-wide financial
statements.
Amounts reported as program revenues include 1) charges to customers or applicants for goods, services, or
privileges provided, 2) operating grants and contributions, and 3) capital grants and contributions, including
special assessments. Internally dedicated resources are reported as general revenues rather than as program
revenues. Proprietary funds distinguish operating revenues and expenses from nonoperating items. Operating
revenues and expenses generally result from providing services and producing and delivering goods in
connection with a proprietary fund’s principal ongoing operations. The principal operating revenues of the
County’s proprietary fund are reimbursements from other funds for medical costs. Operating expenses for the
proprietary fund include medical costs and insurance. All revenues and expenses not meeting this definition are
reported as non-operating revenues and expenses.

Assets, Liabilities, Deferred Inflows and Outflows of Resources, and Net Position/Fund Balance
Cash and Cash Equivalents
The County considers all demand deposits and highly liquid investments with an original maturity date of three
months or less when purchased to be cash equivalents. For purposes of the statement of cash flows, the
County’s proprietary funds consider their demand deposits and all highly liquid investments with an original
maturity of three months or less when purchased to be cash equivalents.
The County’s cash activity is accounted for in pooled cash accounts. The accounting records for each applicable
fund reflects their portion of the pooled cash and investments, and any separate unpooled bank accounts. When
a particular fund overdraws its share of pool cash, the deficit is recorded as a payable to the general fund and a
corresponding entry is made in the general fund to reflect the receivable from the other fund.

Restricted Cash and Cash Equivalents
The County considers any cash that is legally restricted as to withdrawal or usage to be presented as restricted
cash and cash equivalents.

40

Converse County, Wyoming
June 30, 2025
Notes to the Financial Statements

Note 1.

Nature of Operations and Significant Accounting Policies (Continued)

Assets, Liabilities, Deferred Inflows and Outflows of Resources, and Net Position/Fund Balance
(Continued)
Investments and Restricted Investments
The County follows the guidelines described in Wyoming Statute 9-4-831 as it relates to the investment of
public funds. Wyoming Statutes authorize the types of investments in which counties may invest. Among these
authorized investments are certificates of deposit, money market funds, commercial paper with maturities not
more than 270 days, obligations of the U.S. Treasury, agencies and instrumentalities of the U.S. Government,
mortgage-backed securities, guaranteed investment contracts, and repurchase agreements with banks with the
underlying securities being obligations of the U.S. Treasury or agencies and instrumentalities of the U.S.
Government. The County’s investments are carried at fair value except for the non-negotiable certificates of
deposit, which are carried at an amortized cost, consist of certificates of deposit, government sponsored
enterprise securities (GSEs) notes, Wyoming Government Investment Fund (WGIF), participation in WYO-STAR I,
Wyoming Cooperative Liquid Asset Securities System (Wyoming CLASS), and money market accounts.
WYO-STAR I is an authorized government investment pool established in 1987 offered exclusively to Wyoming
governmental entities by the Wyoming State Treasurer’s office. The value of the County’s investments in WYOSTAR I equals the value of its WYO-STAR I shares. Each participant’s position in WYO-STAR I is calculated by the
proportion of their share as a percentage of the total share invested in the pool. Income is distributed to
participants based on each entity’s average daily share balance in the pool. Interest is calculated and credited
monthly. WYO-STAR I investments are carried at their fair value as determined at June 30 each year. WYO-STAR
I’s target asset allocation, as stated in its Master Investment Policy, comprises one hundred percent (100%) of
short-term bonds and cash. The Pool does not have a guaranteed rate of return, and Participants expose their
investments to market losses as well as gains. There are no unfunded commitments, the redemption frequency
is daily, and there is no redemption notice period or withdrawal penalty. Withdrawals are available on the
effective date of the transaction, except for the amount subject to hold back. The holdback represents an
amount up to 10% of the total value of the pool participant’s withdrawal, as determined by the pool
administrator. This amount is typically held until the end of the month, when all account reconciliations are
complete.
Wyoming Government Investment Fund (WGIF) is a governmental pool established in 1996 to provide cashmanagement investments exclusively designed for Wyoming public entities. The WGIF Liquid Asset Series is a
short-term money market portfolio that seeks to provide daily liquidity and there are no withdrawal penalties.
The value of the County’s investment in WGIF equals the value of its WGIF shares. WGIF Board of Trustees is
responsible for the overall management of WGIF including formation of its investment and operating policies.
The Wyoming CLASS Indenture of Trust was adopted pursuant to the provisions of W.S. 17-23-101 et seq., the
Wyoming Statutory Trust Act. The Wyoming CLASS portfolio invests in U.S. Treasury securities, federal
instrumentality securities, agency securities, repurchase agreements and triparty repurchase agreements,
collateralized bank deposits commercial paper that, at the time of purchase is rated in its highest rating category
by one or more nationally recognized statistical rating organizations that regularly rate such obligations, and
government money market funds. The value of the County’s investment in Wyoming CLASS equals the value of
its Wyoming CLASS shares. There are no withdrawal penalties.

41

Converse County, Wyoming
June 30, 2025
Notes to the Financial Statements

Note 1.

Nature of Operations and Significant Accounting Policies (Continued)

Assets, Liabilities, Deferred Inflows and Outflows of Resources, and Net Position/Fund Balance
(Continued)
Investments and Restricted Investments (Continued)
The Wyoming CLASS Board of Trustees is responsible for assuring compliance with the Indenture and the
investment restrictions. It oversees, reviews, administers, and supervises the activities of the Trust’s professional
advisors.
The component units’ investments consist of mutual funds, certificates of deposit, and participation in WYOSTAR I and some component units have investments restricted by donors and others. The Library Foundation is
a component unit of the Library and is a 501(c)3 organization that is not subject to the state statutes which
restrict investments to governmental securities. The component units do not have their own investment policies.
Certain debt covenants require the Hospital to establish and maintain prescribed amounts of resources
(consisting of cash and temporary investments) that can be used to service outstanding debt. The Hospital’s
restricted investments, long-term certificates of deposit and cash are pledged as collateral on its note payable.

Receivables and Payables
Activity between funds that is representative of lending/borrowing arrangements outstanding at the end of the
fiscal year is referred to as “Due to/from other funds”. All other outstanding balances between funds are
reported as “due to/due from” the entities and funds involved. Transfers and interfund transactions between
governmental funds are eliminated in the government-wide financial statements.
Any advances between funds, as may be reported in the fund financial statements, are offset by a fund balance
reserve account in the applicable governmental funds to indicate that they are not available for appropriation
and are not expendable financial resources.
The Hospital’s patient receivables are uncollateralized customer and third‐party payor obligations. Patient
receivables, excluding amounts due from third‐party payors, are turned over to a collection agency if the
receivables remain unpaid after the Hospital’s collections procedures. The Hospital does not charge interest on
the unpaid patient receivables. Payments of patient receivables are allocated to the specific claims identified on
the remittance advice or, if unspecified, are applied to the earliest unpaid claim.
The carrying amount of patient receivables is reduced by a valuation allowance that reflects management’s best
estimate of amounts that will not be collected from patients and third-party payors. Management reviews
patients’ receivables by payor class and applies percentages to determine estimated amounts that will not be
collected from patients due to bad debts. Management considers historical write off and recovery information
in determining the estimated bad debt provision.

42

Converse County, Wyoming
June 30, 2025
Notes to the Financial Statements

Note 1.

Nature of Operations and Significant Accounting Policies (Continued)

Assets, Liabilities, Deferred Inflows and Outflows of Resources, and Net Position/Fund Balance
(Continued)
Other Assets, Long-Term
Other assets, long-term, include the Hospital’s investment in a limited liability company. The Hospital has a 40%
equity interest in Big County Rehabilitation, LLC. This investment is accounted for using the equity method.
Accordingly, the carrying value is equal to the capital contribution the Hospital has made, adjusted for profits
and losses, which are allocated to the members as provided in the operating agreements. The Hospital also has
a 100% interest in Summit Memorial Management (SMM). SMM is considered to be a blended component unit
of the Hospital.

Inventory and Prepaid Items
Inventories are stated at the lower cost (first in, first out method) or market. Inventories are accounted for using
the consumption method by which inventory acquisitions are recorded in inventory accounts when purchased or
received by other means and are charged to expense when consumed or sold. Inventory is offset by a
nonspendable fund balance account which indicates it is not an available spendable resource.
Certain payments to vendors reflect costs applicable to future accounting periods and are recorded as prepaid
items in both the government-wide and fund financial statements. The cost of prepaid items is recorded as
expenditures/expenses when consumed rather than when purchased.

Capital Assets
Capital assets, which include property, equipment and infrastructure assets, are recorded at historical cost or at
estimated historical cost if the actual historical cost is not available in the government-wide financial statements
except for right-to-use assets, the measurement of which is discussed below. Infrastructure assets include roads,
bridges, culverts, and signs.
In accordance with the alternative approach to depreciating infrastructure assets permitted by GASB Statement
No. 34, the County has elected to expense all infrastructure related expenditures, except for those expenditures
related to additions to or significant improvement of infrastructure assets, in lieu of depreciating infrastructure
assets. In order to utilize the alternative system, the County must maintain an asset management system which
assesses asset condition and must maintain infrastructure assets at the condition level established by the
County. Capital asset purchases are accounted for as expenditures of the general fund and road construction
fund in the governmental fund financial statements. Other costs for repairs and maintenance are accounted for
as expenditures as incurred.

43

Converse County, Wyoming
June 30, 2025
Notes to the Financial Statements

Note 1.

Nature of Operations and Significant Accounting Policies (Continued)

Assets, Liabilities, Deferred Inflows and Outflows of Resources, and Net Position/Fund Balance
(Continued)
Capital Assets (Continued)
Depreciation on property and equipment is provided on the straight-line basis over the following useful lives:
Primary Government
Buildings and building improvements
Machinery, equipment and office fixtures
Component Units
Improvements other than buildings
Buildings and building improvements
Machinery, equipment and office fixtures
Collection
Right-to-use assets

Years
15 - 30
5 - 15
10 - 20
5 - 40
3 - 25
3-5
3-5

Capital assets must possess the following characteristics: 1) be tangible in nature, 2) have a life longer than one
year, and 3) value in excess of $5,000. Capital asset purchases are accounted for as expenditures in the
governmental fund financial statements. Other costs for repairs and maintenance are accounted for as
expenditures as incurred. Property and equipment donated for the Hospital are valued at their estimated
acquisition value at the date of the gift.

Right to Use Leased Assets
Right to use leased assets are recognized at the lease commencement date and represent the County’s right to
use an underlying asset for the lease term. Right to use leased assets are measured at the initial value of the
lease liability plus any payments made to the lessor before the commencement of the lease term, less any lease
incentives received from the lessor at or before the commencement of the lease term, plus any initial direct costs
necessary to place the lease asset into service. Right to use leased assets are amortized over the shorter of the
lease term or useful life of the underlying asset using the straight-line method. The amortization period varies
from 3 to 5 years.

Deferred Inflows and Outflows of Resources
In addition to assets, the financial statements report a separate section for deferred outflows of resources. This
separate financial statement element, deferred outflows of resources, represents a consumption of net assets
that applies to a future period and so will not be recognized as an outflow of resources (expense/expenditure)
until then. In addition to liabilities, the financial statements include a separate section for deferred inflows of
resources. This separate financial statement element, deferred inflows of resources, represents an acquisition of
net assets that apply to a future period and so will not be recognized as an inflow of resources (revenue) until
that time. The County reports deferred outflows and deferred inflows as follows:

Excess of Acquisition over Consideration – Deferred outflow related to excess acquisition over consideration

resulted from the purchase of a neurology practice and is amortized over 15 years on a straight‐line basis.

44

Converse County, Wyoming
June 30, 2025
Notes to the Financial Statements

Note 1.

Nature of Operations and Significant Accounting Policies (Continued)

Assets, Liabilities, Deferred Inflows and Outflows of Resources, and Net Position/Fund Balance
(Continued)
Deferred Inflows and Outflows of Resources (Continued)
Unavailable Revenues – The governmental funds report unavailable revenues from two sources: property taxes

and wind taxes. These amounts are deferred and recognized as an inflow of resources in the period that the
amounts become available. In the government-wide statement of net position, property tax revenue is reported
as deferred inflows of resources in the year the property tax lien attaches to the property. Additionally, the
County reports deferred amounts related to leases.

Pension Plan Items – In the government-wide statements of net position, a deferred outflow or deferred inflow

of resources is reported for the unrecognized items not yet charged to pension expense related to the net
pension liability. This includes the unamortized portion of the net difference between projected and actual
earnings on pension plan investments and other differences between expected and actual experience. Deferred
outflows for the net difference between projected and actual investment earnings are recognized over a period
of five years, while the deferred outflows or deferred inflows for the differences between expected and actual
experience for economic/demographic assumptions are recognized over the remaining service life for all active
and inactive members.

Pension Plan Items
For purposes of measuring the net pension liability, deferred outflows of resources and deferred inflows of
resources related to pensions, and pension expense, information about the fiduciary net position of the
Wyoming Retirement System (“WRS”) plans and additions to/deductions from WRS’s fiduciary net position have
been determined on the same basis as they are reported by WRS. For this purpose, benefit payments (including
refunds of employee contributions) are recognized when they are due and payable in accordance with the
benefit terms. Investments are reported at fair value.

Property Taxes
The County assesses both mineral and non-mineral ad valorem property taxes, which are generally levied on or
about August 1 each year.
•

Non-Mineral Property Taxes: These are valued and assessed annually as of January 1 at fair market
value, in accordance with Wyoming Statute §39-13-103. A tax lien becomes enforceable on January 1.
County Commissioners levy the taxes around August 1. Payments are due in two equal installments: the
first due September 1 (delinquent after November 10), and the second on March 1 of the following year
(delinquent May 10).

45

Converse County, Wyoming
June 30, 2025
Notes to the Financial Statements

Note 1.

Nature of Operations and Significant Accounting Policies (Continued)

Assets, Liabilities, Deferred Inflows and Outflows of Resources, and Net Position/Fund Balance
(Continued)
Property Taxes (Continued)
•

Mineral Property Taxes: These are assessed based on the mineral production from the preceding
calendar year, with a tax lien attaching at the time of severance, in accordance with Wyoming Statute
§39-14-203(c). County Commissioners levy the taxes around August 1. The Wyoming Department of
Revenue (Department) centrally collects mineral ad valorem taxes based on current monthly production
reports. Taxes are due to the Department by the 25th day of the third month following the month of
production, as established by House Bill 159, 2021 Legislative Session. The Department distributes these
collections to the counties.

Mineral property tax collections are based on the current production while the county levy is based on the
preceding calendar year’s production, the Department’s collections occur before the county’s levy is formally
set. The county distributes all collected property taxes to the appropriate taxing entities when received. Once
the levy is established, the county reconciles the pre-collected taxes against the levy. This reconciliation can
result in either an additional amount due or a refund for overpayment.
Property tax revenues are recognized when levied to the extent they result in current receivables, which means
when collected within the current period or expected to be collected within 60 days of the fiscal year-end to be
used to pay liabilities of the current period on the fund financial statements. Property taxes, which are not
current receivables, are offset by deferred inflows of resources on the fund financial statements but are reported
on the government-wide financial statements as revenue and receivables, with no amount being deferred when
levied. Property taxes receivable is recognized as of the lien date; however, revenue is not recognized until the
levy date.
The County recognized property taxes levied in August 2024 as revenue for the fiscal year ended June 30, 2025.
Property taxes received from mineral production in calendar years 2024 and 2025 were reported as unearned
revenue in both the fund and government-wide financial statements as of June 30, 2025, because they were not
yet levied, assessed or reconciled, and may result in a repayment of collected taxes. Mineral property taxes for
2024 calendar production were legally assessed on January 1, 2025, but were not levied until August 2025.
Mineral property taxes for production in calendar year 2025 had not been assessed as of June 2025.
The County is permitted by Wyoming Statutes to levy up to 12 mills of assessed valuation for all purposes,
exclusive of the state revenue, except for the payment of public debt and interest thereon. The combined tax
rate to finance general governmental services, other than the payment of principal and interest on long-term
debt for the year ended June 30, 2025, was 12 mills, which means that the County has levied to the maximum
amount available.

Major Taxpayers
The County's ten largest taxpayers account for approximately 80% of the County's total assessed property
valuation. Nine of the ten taxpayers are involved in the mineral extraction industry, and the other one is a power
producer. The County received approximately 53% of its total revenues from these taxpayers.
46

Converse County, Wyoming
June 30, 2025
Notes to the Financial Statements

Note 1.

Nature of Operations and Significant Accounting Policies (Continued)

Assets, Liabilities, Deferred Inflows and Outflows of Resources, and Net Position/Fund Balance
(Continued)
Compensated Absences
All regular, full-time and half-time employees who work at least twenty hours accrue monthly paid vacation.
Employees accumulate vacation leave hours monthly based on number of years of service with the County. Fulltime employees are entitled to 12 vacation days for 0 to 5 years of service, 15 vacation days for 6 to 10 years of
service, and 20 ¼ days for more than 11 years of service, and all half-time employees are entitled to half of the
days attributed to the full-time employees. As of January 1, each year, the maximum annual vacation leave
accrual allowed is 20 days. If the maximum is exceeded, the excess amount of annual vacation leave time will be
forfeited by the employee without compensation. The days credited to an employee for annual vacation leave
time are working days. A liability for these amounts is reported for these amounts in the governmental funds
only if they have matured, for example, as a result of employee resignation and retirement.
Regular employees accrue one day per month of sick leave and half-time employees accrued one-half day per
month; however, none of the accumulated sick leave will be paid upon termination of employment.
The Hospital’s employees earn paid time‐off days at varying rates depending on years of service. Employees may
accumulate paid time‐off up to a specified maximum. Employees are paid for accumulated paid time‐off upon
termination. The liability for compensated absences is included with accrued salaries and benefits in the
accompanying financial statements.
Compensated absences are recognized as a liability when the leave is earned, and it is more likely than not that
the benefit will be used or paid.

Short-Term Financing
The County did not issue any tax anticipation notes or use any other type of short-term financing for the year
ended June 30, 2025.

Fund Equity/Net Position
Governmental fund equity is classified as fund balance. Fund balance is further classified as nonspendable,
restricted, committed, assigned, or unassigned. Nonspendable fund balance cannot be spent because of its form
or legal restrictions. Restricted fund balance has limitations imposed by creditors, grantors, or contributors or by
enabling legislation or constitutional provisions. Committed fund balance is a limitation imposed by the County
Commission, the highest level of authority, through approval of resolutions. Assigned fund balances express the
intent of the County, as designated by the County Commission, to utilize the funds for specific purpose.
Unassigned fund balance in the General Fund is the net resources in excess of what can be properly classified in
one of the above four categories.
Negative unassigned fund balance in other governmental funds represents excess expenditures incurred over
the amounts restricted, committed, or assigned to those purposes. Proprietary fund equity is classified the same
as in the government-wide statements.
47

Converse County, Wyoming
June 30, 2025
Notes to the Financial Statements

Note 1.

Nature of Operations and Significant Accounting Policies (Continued)

Assets, Liabilities, Deferred Inflows and Outflows of Resources, and Net Position/Fund Balance
(Continued)
Fund Equity/Net Position (Continued)
When both restricted and unrestricted fund balances are available for use, it is the County’s policy to use
restricted fund balance first, then unrestricted fund balance. Furthermore, committed fund balances are reduced
first, followed by assigned amounts, and then unassigned amounts when expenditures are incurred for purposes
for which amounts in any of those unrestricted fund balance classifications can be used.
For the government-wide financial statements, net position is reported as restricted when constraints placed on
net position are either: (1) externally imposed by creditors (such as debt covenants), grantors, contributors, or
laws or regulations of other governments or (2) imposed by law through constitutional provisions or enabling
legislation.

Net Patient Service Revenue
The Hospital has agreements with third‐party payors that provide payments to the Hospital at amounts different
from its established rates. Payment arrangements include prospectively determined rates, reimbursed costs,
discounted charges, and per diem payments. Net patient service revenue is reported at the estimated net
realizable amounts from patients, third‐party payors, and others for services rendered, including estimated
retroactive adjustments under reimbursement agreements with third‐party payors. Retroactive adjustments are
accrued on an estimated basis in the period the related services are rendered and adjusted in future periods as
final settlements are determined.
Concentration of gross revenues by major payor accounted for the following percentages of the Hospital’s
patient service revenues for the years ended June 30, 2025 are 36% Medicare, 6% Medicaid, 23% Blue Cross,
31% other third‐party payors, and 4% self-pay and other.
Laws and regulations governing the Medicare, Medicaid, and other programs are extremely complex and subject
to interpretation. As a result, there is at least a reasonable possibility that recorded estimates will change by a
material amount in the near term.

Operating Revenues and Expenses
The Hospital’s statement of revenues, expenses, and changes in net position distinguishes between operating
and nonoperating revenues and expenses. Operating revenues and expenses of the Hospital result from
exchange transaction associated with providing health care services – the Hospital’s principal activity, and the
costs of providing those services, including depreciation and amortization and excluding interest cost. All other
revenues and expenses are reported as nonoperating.

48

Converse County, Wyoming
June 30, 2025
Notes to the Financial Statements

Note 1.

Nature of Operations and Significant Accounting Policies (Continued)

Assets, Liabilities, Deferred Inflows and Outflows of Resources, and Net Position/Fund Balance
(Continued)
Grants and Contributions
Revenues from grants and contributions (including contributions for capital assets) are recognized when all
eligibility requirements, including time requirements are met. Grants and contributions may be restricted for
either specific operating purposes or for capital purposes. Amounts that are unrestricted or that are restricted to
a specific operating purpose are reported as nonoperating revenues. Amounts restricted to capital acquisitions
are reported after nonoperating revenues and expenses.

Unearned Revenue/Refundable Advance
Revenue received in advance of the performance of services deemed to be exchange transactions is deferred
until such time as related expenditures are incurred and then recognized as revenue.

Uncompensated Care
Indigent Care - Wyoming Statute §18-08-106 requires Memorial Hospitals to provide “resident indigent patient
care” and assumes that such patients have an inability to pay for the medical services provided. Quite simply the
statute requires the Hospital to provide customary and usual medical services to these patients without
compensation. The term “Indigent” is not further defined in the statute but is generally construed to include
anyone in the county with the inability to pay for his or her medical care regardless of the reason. The statute
with subsequent amendments does not provide a mechanism for compensation to the Hospital. Total cost of
indigent care is calculated by multiplying the ration of cost to gross charges for the Hospital by the gross
uncompensated charges associated with those that qualify for the Hospitals financial assistance program. The
care provided to individuals that qualified for our financial assistance program had an estimated cost of
providing these services was approximately $2,940,000 for the year ended June 30, 2025.
Patient Related Bad Debt - the Hospital also provides care for those individuals either unwilling or unable to pay

for or apply for financial assistance are considered bad debt. The Hospital includes these within its definition of
uncompensated care. The foregone charges related to providing those services were approximately $5,943,000
for the year ended June 30, 2025. The cost of providing these services was approximately $2,892,000, for the
year ended June 30, 2025.

49

Converse County, Wyoming
June 30, 2025
Notes to the Financial Statements

Note 1.

Nature of Operations and Significant Accounting Policies (Continued)

Assets, Liabilities, Deferred Inflows and Outflows of Resources, and Net Position/Fund Balance
(Continued)
Qualified Rate Adjustments
The Hospital participates in the Wyoming Department of Health qualified rate adjustment payment program
under which the Hospitals in the state may elect to make intergovernmental transfers, as determined by the
state based on bed size and payor mix. The Wyoming Department of Health uses the intergovernmental transfer
to supplement state budget funds for the Medicaid program, which brings matching federal monies into the
program, enabling the State of Wyoming to fund Medicaid payments to the Hospitals at a higher rate than
would otherwise be possible. The Hospital paid approximately $907,000 for the year ended June 30, 2025, which
were recorded net of the related revenues. The Hospital received approximately $1,814,000 of supplemental
payments for the year ended June 30, 2025, which are recorded as part of net patient service revenue.
Receivable amounts related to this program were approximately $1,630,000 for the year ended June 30, 2025.

Accounting Estimates
The preparation of the financial statements requires management to make estimates and assumptions that
affect the reported amounts of assets and liabilities and disclosures of contingent liabilities at the date of the
financial statements and the reported amounts of revenues and expenses/expenditures during the reporting
period. Actual amounts could differ from estimates. It is reasonably possible that these estimates will change
within one year of the date of the financial statements due to one or more future events. The effect of the
change could be material to the financial statements and could result in a loss.

Budget
The County Commissioners annually adopt a budget and approve the related appropriations for the funds in
accordance with provisions of the Wyoming Statutes. Budgets are legally adopted for all of the component
units for the County’s discretely presented and blended component units. Annual appropriated budgets are
prepared on a basis of estimated cash receipts and cash disbursements and accounts payable. Unexpended and
unencumbered budgeted amounts and budget appropriations lapse at the end of the fiscal year. Encumbrances
are reappropriated in the ensuing year.
The County Commissioners exercise legal spending control at the departmental level. Any over-expenditures or
transfers of appropriations must be approved by them, as are all departmental budget amendments.
Management control is exercised at budgetary line-item levels. The County Commissioners and the governing
Boards of the component units may also amend the budget after it is approved, using the same procedures
necessary to approve the original budget. The budgetary data presented in the financial statements reflects the
approved budget.

50

Converse County, Wyoming
June 30, 2025
Notes to the Financial Statements

Note 1.

Nature of Operations and Significant Accounting Policies (Continued)

Assets, Liabilities, Deferred Inflows and Outflows of Resources, and Net Position/Fund Balance
(Continued)
Change in Reporting Entity
During the year ended June 30, 2025, further integration of the entities resulted in management of the Hospital
assuming full operational control and leadership of Summit Memorial Management (SMM). The change resulted
in SMM being subject to oversight and control of the Hospital. As a legally separate entity, SMM, inclusive of its
wholly owned subsidiaries, Summit Memorial Medical Group (SMMG) and Summit Medical Center (Summit) has
been reported as a blended component unit starting with the year ended June 30, 2025. AS of June 30, 2024, the
Hospital held and investment on SMM of approximately $12,809,000. As the entity has changed from discrete
presentation to blended presentation, no investment is recorded as of June 30, 2025, and the associated account
balances and activity of SMM are not contained within the financial reporting information of the Hospital.
Accordingly, there is no impact on net position related to this change in reporting entity. The related notes to
the financial statements include the balances and activity of SMM for both years presented.

Standards Issued and Implemented
As of July 1, 2024, the County adopted GASB Statement No. 101, Compensated Absences. The provisions align
recognition and measurement guidance for all types of compensated absences, including vacation, sick leave,
and other paid time off under a unified model, which resulted in governments recognizing a liability that more
appropriately reflects when an obligation for compensated absences occurred. The implementation required the
County to recognize a liability for certain leave benefits that were previously not recorded or measured
differently under prior guidance. The model is intended to provide greater consistency in application and
improved comparability across governments. The impact on net position was not significant to the County. As
such, no restatement of balances was deemed necessary.
As of July 1, 2024, the County adopted GASB Statement No. 102, Certain Risk Disclosures, which requires
management to evaluate whether there are risks related to a government’s vulnerabilities due to certain
concentrations or constraints that require disclosure. A concentration, as defined by Statement 102, is a lack of
diversity related to an aspect of a significant inflow or outflow of resources. A constraint is a limitation imposed
on a government by an external party or by formal action of the government’s highest level of decision-making
authority. The requirements of the Statement are effective for reporting periods beginning after June 15, 2024.
There was no impact on the fund balance or net position in the County due to the implementation of this
standard and primarily resulted in new and enhanced disclosures.

51

Converse County, Wyoming
June 30, 2025
Notes to the Financial Statements

Note 2.

Deposits

Custodial Credit Risk – Deposits
Custodial credit risk for deposits is the risk that, in the event of the failure of a depository institution, the County
will not be able to recover its deposits or will not be able to recover collateral securities that are in the
possession of an outside party. Wyoming state statutes require that the County’s deposits in excess of the
Federal depository insurance amount be collateralized. Deposits held in the County’s bank accounts are insured
by federal depository insurance or are collateralized with securities held by the pledging institution’s trust
department or agent, in joint custody of the bank and the County. All deposits were covered by insurance or
collateral held in joint custody with the financial institution.
At June 30, 2025, the County’s bank balance was $72,878,716 and the carrying amount of deposits was reported
in the financial statements as follows:
Government-Wide Statement of Net Position
Cash and cash equivalents
Restricted cash and cash equivalents
Non-negotiable certificates of deposit
Fiduciary Fund Statement of Net Position - County Custodial Fund
Cash and cash equivalents
Total carrying amount of deposits

Carrying Amount
$

$

37,831,786
703,104
17,800,511
15,166,000
71,501,401

At June 30, 2025, the County’s component units’ bank balance was $28,341,552 and the carrying amount of
deposits was reported in the financial statements as follows:

Government-Wide Statement of Net Position
Cash and cash equivalents
Restricted cash and cash equivalents
Non-negotiable certificates of deposit
Restricted investments
Total carrying amount of deposits

Carrying Amount
$

$

11,369,172
98,799
2,795,904
13,288,191
27,552,066

The difference between the carrying amount and the bank balance is the result of transactions in transit and
cash equivalents without a bank balance. All component unit’s bank balances were either fully insured or
collateralized as required by State statutes.

52

Converse County, Wyoming
June 30, 2025
Notes to the Financial Statements

Note 3.

Investments

As of June 30, 2025, the primary government of the County had the following investments:
Less
Investment Type

Total

Interest Rate

Than 1

1-5

6 - 10

7,050,777

$ 10,749,734

1,735,980

Rating

Non-negotiable
certificates of
deposit

$

17,800,511

.50 to 5.10%

3,708,065

.50 to 5.10%

$

$

-

N/A

1,972,085

-

N/A

Negotiable certificates
of deposit
GSE notes

51,602,752

1% - 5.65%

1,557,437

47,093,422

2,951,893

AA+

44,667

1.00%

44,667

-

-

N/A

WYO-STAR I

1,591,816

4.16%

1,591,816

-

-

Not rated

Wyoming CLASS

22,332,707

4.25%

22,332,707

-

-

Not rated

WGIF
Total

18,564,647
115,645,165

4.26% - 4.40%

18,564,647
$ 52,878,031

$ 59,815,241

2,951,893

Money market
State Treasurer's
Investment pools

$

$

AAAm

As of June 30, 2025, the component units of the County had the following investments excluding the Hospital’s
discretely presented component units:
Investment Type
Certificates of
deposit
Negotiable certificates
of deposit
WYO-STAR I
Insured cash
Total

Total

Interest Rate

$

13,821,961

2.60% - 4.25%
.40%-1.85%
4.160%
0.800%

$

123,884
2,527,454
54
16,473,353

Less
Than 1

1-5

$

2,493,958

$ 11,328,003

$

123,884
2,527,454
54
5,145,350

$ 11,328,003

6 - 10

Rating

$

-

N/A
N/A
Not rated
N/A

$

-

These investments are reported under the caption investments and restricted investments in the statement of
net position.

Credit Risk
Generally, credit risk is the risk that an investment will not fulfill its obligation to the holder of the investment.
This is measured by the assignment of a rating by a nationally recognized statistical rating organization. This is
measured by the assignment of a rating by a nationally recognized statistical rating organization. The County
has adopted Wyoming State statute §9-4-31 as their investment policy which limits investments to those with
highest credit rating from nationally recognized credit rating organizations.

53

Converse County, Wyoming
June 30, 2025
Notes to the Financial Statements

Note 3.

Investments (Continued)

Custodial Credit Risk – Investments
Custodial credit risk is the risk that, in the event of the failure of the counterparty, the County will not be able to
recover the value of its investments or collateral securities held in the possession of an outside party. Custodial
credit risk is for those investment securities that are uninsured, are not registered in the name of the
government, and are held by either (a) the counterparty or (b) the counterparty’s trust department or agent but
not in the government’s name. The County does not have a formal policy to address custodial credit risk. The
County does not have any investments that are not registered in the name of the County. Custodial credit risk
does not apply to a local government’s indirect investments in securities through the use of government
investment pools.

Concentration of Credit Risk
The concentration of credit risk is the risk of loss that may be caused by the County’s investments in a single
issuer. GASB 40 requires disclosure by issuer and amount of investments in any one issuer that represents five
percent (5%) or more of total investments for the County. The information presented below is based on
concentrations of investments in the County’s portfolio. Concentration risk does not arise in connection with U.S.
government obligation and obligations explicitly guaranteed by the U.S. government. Likewise, concentration
risk does not apply to positions in external investment pools, and similar pooled investments, which are
designed, in part, to provide diversification. The County does not have a formal policy for concentration of credit
risk.
At June 30, 2025, the County had 19% of its investments in non-negotiable certificates of deposit, 16% in WGIF,
1% in WYO-STAR I, 19% in Wyoming CLASS, and 45% in government sponsored enterprises. Of the nonnegotiable certificates of deposit 78% are held at one bank. The component units had 85% of their investments
in certificates of deposits and non-negotiable certificates of deposits, and 15% in WYO-STAR I.

Interest Rate Risk
Interest rate risk is the risk that changes in interest rates will adversely affect the fair value of an investment. The
County does not have a formal policy for interest rate risk. As a means of limiting its exposure to fair value losses
arising from interest rates, the County attempts to match its investment maturities with its expected cash flow
needs. With this investment focus, investments are expected to reach maturity with limited gains and losses.
Additionally, majority of the County’s investments are held in external investment pools with a focus on liquidity
as a means of limiting its exposure to fair value losses arising from interest rates.
Wyoming CLASS pool seeks to maintain a stable net asset value of $1.00. The funds' weighted average maturity
is limited to a maximum of 60 days and a weighted average life of 120 days. In our view, a portfolio's weightedaverage maturity is a key measure of a fund's tolerance and sensitivity to rising interest rates.
WGIF pool seeks to maintain a stable net asset value (NAV) of $1.00 and is managed to a maximum weighted
average maturity to reset (WAM(R)) of 60 days.

54

Converse County, Wyoming
June 30, 2025
Notes to the Financial Statements

Note 3.

Investments (Continued)

Interest Rate Risk (Continued)
The WYO-STAR I investment portfolio, as stated in its Master Investment Policy, maintains funds in a cash
portfolio and the rest in an extended cash portfolio, which may not exceed 35% of the market value of the
portfolio at the time of purchase. The cash portfolio seeks to maintain weighted average maturity not to exceed
90 days and all securities must have a maximum maturity of 365 days. The market value of the portfolio must
remain within +/-0.5% to 1% of amortized cost. The extended portfolio seeks to maintain maximum average
cash flow weighted duration not to exceed three years and individual securities must not exceed a cash flow
weighted duration of 5 years. Participants acknowledge there is a risk associated with investing in the pool and
there is no guaranteed rate of return.
Note 4.

Fair Value of Investments

The County categorizes its fair value measurements within the fair value hierarchy established by generally
accepted accounting principles. The hierarchy is based on valuation inputs used to measure the fair value of the
assets. Level 1 inputs are quoted prices in active markets for identical assets; Level 2 inputs are significant other
observable inputs; Level 3 inputs are significant unobservable inputs.
Following is a description of the valuation methodologies used for investments measured at fair value. There
have been no changes in the methodologies used at June 30, 2025:

Government sponsored enterprises (GSEs) notes: Valued using quoted prices for identical or similar assets in

active markets.

Negotiable certificates of deposit: Valued at closing price reported on the active market on which the
individual certificate of deposit is traded. If held to maturity, the certificates of deposit are redeemed at
purchased value.
Primary Government Investments
GSE notes
Negotiable certificates of deposit
Total investments at fair value

$
$

Level 1

Investments at Fair Value as of June 30, 2025
Level 2
Level 3
Total
$ 51,602,752
$
$ 51,602,752
3,708,065
3,708,065
$ 55,310,817
$
55,310,817

Other investments reported in the following classifications
Non-negotiable certificates of deposit
Wyoming CLASS
WYO-STAR I
WGIF
Money market
Total primary government investments

17,800,511
22,332,707
1,591,816
18,564,647
44,667
$ 115,645,165

55

Converse County, Wyoming
June 30, 2025
Notes to the Financial Statements

Note 4.

Fair Value of Investments (Continued)

Component Unit Investments

Negotiable certificates of deposit
Total investments at fair value

$
$

Level 1

Investments at Fair Value as of June 30, 2025
Level 2
Level 3
Total
$
123,884
$
$
123,884
$
123,884
$
123,884

Other investments reported in the following classifications
Certificates of deposit
WYO-STAR I
Insured cash
Total component unit investments

13,821,961
2,527,454
54
16,473,353

$

Beneficial Interest in Assets Held by Others
Converse County Library Foundation transferred investments to the Wyoming Community Foundation specifying
itself as the beneficiary. The Wyoming Community Foundation ("WCF") is a Wyoming not-for-profit organization.
WCF established the Converse County Library Endowment fund to account for these permanently restricted
contributions. WCF is required to make distributions of interest and dividend income to the Converse County
Library Foundation and other contributions that might be made in the future for the benefit of the Converse
County Library Foundation annually. The Converse County Library Foundation received distributions of $4,201
during the year ended June 30, 2025. In accordance with the professional accounting standards, the Foundation
recorded its beneficial interest in the WCF fund and recorded as permanently restricted those contributions
received by the WCF for the benefit of the Foundation. Converse County Library Foundation's beneficial interest
in assets held at WCF was $298,193 as of June 30, 2025.
Note 5.

Interfund Balances and Transfers

Interfund and intra-entity receivables and payables at June 30, 2025 are as follows:
General Fund
County Roads Fund
Nonmajor Special Revenue Funds

Receivable
52,180
4,768
$
56,948

$

$

$

Payable
5,525
13,473
37,950
56,948

56

Converse County, Wyoming
June 30, 2025
Notes to the Financial Statements

Note 5.

Internal Balances and Transfers (Continued)

The outstanding balances between funds results mainly from the time lag between the dates that (1) interfund
goods and services are provided or reimbursable expenditures occurred, (2) transactions are recorded in the
accounting system, and (3) payments between funds are made. Operating transfers during the year were as
follows:
Transfers In
439,489
14,901,164
15,410,442
1,361,535
1,201
$ 32,113,831

General Fund
County Roads Fund
Capital Projects Fund
Joint Justice Center Joint Powers Board
Nonmajor Special Revenue Funds

$

Transfers Out
$ 31,160,161
953,670
$ 32,113,831

Transfers were made to (1) move revenues from the funds that statute or budget requires expending them, and
(2) use unrestricted revenues collected in the general fund to finance various programs accounted for in other
funds in accordance with budgetary restrictions.
Note 6.

Capital Assets

Primary Government
Capital asset activity for the governmental activities for the year ended June 30, 2025, was as follows:

Capital assets, not being depreciated
Land
Infrastructure
Construction in progress
Total capital assets, not being
depreciated

$

Beginning
Balance

Transfers
and Additions

Transfers
and Deletions

1,680,893
49,309,779
37,191,125

$

$

65,000
14,371,273
23,632,382

14,371,273

Ending
Balance
$

1,745,893
63,681,052
46,452,234

88,181,797

38,068,655

14,371,273

111,879,179

Capital assets, being depreciated
Buildings and building improvements
Machinery, equipment, and office fixtures

42,586,099
24,539,717

188,702
1,665,060

232,756

42,774,801
25,972,021

Total capital assets, being depreciated

67,125,816

1,853,762

232,756

68,746,822

Less accumulated depreciation for
Buildings and building improvements
Machinery, equipment, and office fixtures

10,351,281
12,630,070

1,215,694
1,522,752

196,101

11,566,975
13,956,721

22,981,351

2,738,446

196,101

25,523,696

44,144,465
$ 132,326,262

(884,684)
$ 37,183,971

36,655
$ 14,407,928

43,223,126
$ 155,102,305

Total accumulated depreciation
Total capital assets, being
depreciated, net
Governmental activities, capital assets, net

57

Converse County, Wyoming
June 30, 2025
Notes to the Financial Statements

Note 6

Capital Assets (Continued)

The County has $1,247,343 in assets acquired under lease purchase obligations with accumulated depreciation
of $254,987. The depreciation expense on these assets for the fiscal year ended June 30, 2025 was $98,705.
Depreciation expense was charged to the functions/programs of the primary government as follows:
Governmental activities
General government
Public safety
Public works
Health, welfare, and recreation
Total depreciation expense - governmental activities

$

303,204
35,896
1,227,669
1,171,677
2,738,446

$

Component Units
Capital asset activity for the Converse County Airport for the year ended June 30, 2025, was as follows:

Capital assets, not being depreciated
Land
Construction in progress
Total capital assets, not being
depreciated
Capital assets, being depreciated
Improvements other than buildings
including hangars, runways and taxiways
Buildings
Machinery, equipment
and office fixtures
Total capital assets, being
depreciated
Less accumulated depreciation
Total capital assets, being
depreciated, net
Capital assets, net

Beginning
Balance
$

$

2,741,061
319,359

Transfers and
Additions

Transfers and
Deletions

$

$

5,133,882

282,947

Ending
Balance
$

2,741,061
5,170,294

3,060,420

5,133,882

282,947

7,911,355

19,811,209
612,841

-

-

19,811,209
612,841

282,438

282,947

-

565,385

20,706,488
14,418,052

282,947
629,842

-

20,989,435
15,047,894

6,288,436
9,348,856

(346,895)
$ 4,786,987

282,947

5,941,541
$ 13,852,896

$

The construction in progress for the Airport represents costs related to runway upgrades, hanger construction,
and fuel farm upgrades. Signed contracts at June 30, 2025 for these projects approximately $5,539,000. Funding
for these projects is anticipated to include state and federal grants as well as airport generated revenue and
taxes.

58

Converse County, Wyoming
June 30, 2025
Notes to the Financial Statements

Note 6

Capital Assets (Continued)

Component Units (Continued)
Capital asset activity for the Converse County Weed and Pest Control District for the year ended June 30, 2025,
was as follows:
Beginning
Balance
Capital assets, not being depreciated
Land
Construction in progress
Total capital assets, not being
depreciated
Capital assets, being depreciated
Buildings and improvements
Machinery, equipment
and office fixtures
Total capital assets, being
depreciated, net
Less accumulated depreciation
Total capital assets, being
depreciated, net
Capital assets, net

$

$

12,000
19,438

Transfers and
Additions

Transfers and
Deletions

$

$

-

19,438

Ending
Balance
$

12,000
-

31,438

-

19,438

12,000

846,537

43,195

-

889,732

400,936

141,382

-

542,318

1,247,473

184,577

-

1,432,050

536,224

54,946

-

591,170

711,249
742,687

$

129,631
129,631

$

19,438

$

840,880
852,880

Capital asset activity for the Library for the year ended June 30, 2025, was as follows:

Capital assets, not being depreciated
Land
Total capital assets, not being
depreciated

Beginning
Balance
$

100,600

Transfers and
Additions

Transfers and
Deletions

$

$

-

-

Ending
Balance
$

100,600

100,600

-

-

100,600

Capital assets, being depreciated
Buildings and building improvements
Machinery, equipment and office fixtures
Collection
Total capital assets,
being depreciated

20,610,402
570,471
861,740

75,344

3,603
38,610

20,610,402
566,868
898,474

22,042,613

75,344

42,213

22,075,744

Less accumulated depreciation

4,234,373

550,384

38,610

4,746,147

Total capital assets, being
depreciated, net
Capital assets, net

17,808,240
$ 17,908,840

(475,040)
(475,040)

3,603
3,603

17,329,597
$ 17,430,197

$

$

59

Converse County, Wyoming
June 30, 2025
Notes to the Financial Statements

Note 6.

Capital Assets (Continued)

Component Units (Continued)
Capital asset activity for the Hospital, excluding the Hospital’s discretely presented component units, for the year
ended June 30, 2025, was as follows:

Capital assets, not being depreciated
Land
Construction in progress
Total capital assets, not being
depreciated
Capital assets, being depreciated
Improvements other than buildings
Building
Equipment and vehicles
Right-to-use leased assets being amortized
Equipment
Total capital assets, being
depreciated, net
Less accumulated depreciation
Total capital assets, being
depreciated, net
Capital assets, net

Beginning
Balance
$

3,203,956
2,157,524

Transfers and
Additions

Transfers and
Deletions

$

$

2,754,623

1,089,388

Ending
Balance
$

3,203,956
3,822,759

5,361,480

2,754,623

1,089,388

7,026,715

155,984
47,598,249
53,346,554

562,662
585,715

435,059
1,437,564

155,984
47,725,852
52,494,705

3,992,451

4,303,355

566,926

7,728,880

105,093,238
77,962,872

5,451,732
4,799,236

2,439,549
784,245

108,105,421
81,977,863

27,130,366
$ 32,491,846

652,496
$ 3,407,119

1,655,304
$ 2,744,692

26,127,558
$ 33,154,273

Construction in progress on June 30, 2025 represents the electronic medical record system upgrade, for which
are no contractually committed amounts, however significant additional expenditures are anticipated.
Note 7.

Leases

Lessor
The Airport is the lessor for several hangar leases. For leases with a maximum possible term of 12 months or less
at commencement, the Airport recognizes income based on the provision of the lease contract. For all leases (i.e.
those that are not short-term), the related lease receivables and deferred inflows of resources are recognized at
the present value of future lease payments expected to be received during the lease term using the Airport’s
incremental borrowing rate. The deferred inflow of resources is amortized on a straight-line basis over the term
of the lease. The Airport monitors changes in circumstances that would require a remeasurement of its leases
and will remeasure the lease receivable and deferred inflows or resources if certain changes occur that are
expected to significantly affect the amount of the lease receivable.

60

Converse County, Wyoming
June 30, 2025
Notes to the Financial Statements

Note 7.

Leases (Continued)

Lessor (Continued)
The Airport entered into a lease agreement with a third-party effective January 1, 2001. As part of consideration
for this lease agreement the lessee agreed to construct a hangar building at its sole expense on airport property.
The hangar and improvements will become attached to the real property at the end of the term of the lease and
shall at that time automatically vest and become property of the Airport.
The term of the lease is for a period of forty years from January 1, 2001. Upon termination of this lease, the
lessee has right of first refusal to enter into a rental agreement with the Board for the hangar for an additional
term and rental amount that is comparable to other hangar leases existing at the Airport. The lease has a
monthly payment owed of $100 plus a $48 Consumer Price Index (CPI) adjustment for a total monthly payment
of $148 for the period of January 1, 2021, through December 31, 2025. At the end of this five-year period, the
CPI amount will be adjusted for current rates for the next five-year increment.
As of June 30, 2025, the value of the lease receivable is $16,005 and the related deferred inflows is $15,415.
During the year ended June 30, 2025, the Airport recognized lease revenue of approximately $990, interest
revenue of approximately $330 and other revenue, related to the CPI adjustment of approximately $580 under
this lease.
In addition, during the entire term of the lease the lessee agrees to pay the Airport and additional rent of $400 a
month, which shall be used by the Board for the lessee-cost share percentage of Federal Aviation Administration
(FAA) grants for resurfacing runways, taxiways, ramps or other capital improvement projects at the airport. The
additional rent amount will not be paid until the FAA has awarded grant or grants to the Airport and the Airport
cost share for such grants are due to the FAA. The amount due to the Airport in relation to this agreement
totaled $48,000 at June 30, 2025.
The Airport entered into a lease agreement with a related party effective December 9, 2024. The Airport’s
manager is the owner of the company which leases shop and office space from the Airport. The term of the lease
is for a period of five years from December 9, 2024, with an additional five-year renewal option. The lease has a
monthly payment owed of $469. As of June 30, 2025, the value of the lease receivable is $24,096 and the related
deferred inflows is $23,472. During the year ended June 30, 2025, the Airport recognized lease revenue of
approximately $5,290 and interest revenue of approximately $390 under this lease.
The Airport entered into a lease agreement with a third-party effective October 1, 2023. The third party will lease
a hangar on the Airport property. The term of the lease is for a period of forty years from October 1, 2023. Upon
termination of this lease, the lessee has right of first refusal to enter into a rental agreement with the Board for
the hangar for an additional term and rental amount that is comparable to other hangar leases existing at the
Airport. The lease has a monthly payment of $110. As of June 30, 2025, the value of the lease receivable is
$23,143 and the related deferred inflows are $22,472. During the year ended June 30, 2025, the Airport
recognized lease revenue of approximately $590 and interest revenue of approximately $1,100 under this lease.

61

Converse County, Wyoming
June 30, 2025
Notes to the Financial Statements

Note 7.

Leases (Continued)

Lessor (Continued)
As of June 30, 2025, principal and interest expected to maturity were as follows:
Year Ending June 30,
2026
2027
2028
2029
2030
2031-2035
2036-2040
2041-2045
2046-2050
2051-2055
2056-2060
2061-2063
Total minimum lease payments

Note 8.

$

$

Principal
6,428
6,534
6,638
6,752
3,566
6,632
7,579
3,044
3,110
3,955
5,027
3,979
63,244

$

$

Interest
1,723
1,617
1,513
1,399
1,300
5,968
5,021
4,156
3,490
2,645
1,573
311
30,716

Long-Term Debt

County
The Wyoming Constitution (Article 16 §3) limits the amount of indebtedness for any County to not more than
two percent of the last general assessment. This limit was $71,206,309 at June 30, 2025. The County had no
outstanding debt subject to this limitation.

Primary Government
The following is a summary of changes in long-term debt of the County for the year ended June 30, 2025:

Primary Government
Governmental activities
Ad valorem note payable
Lease purchase obligation
Incurred but not reported
claims payable
Compensated absences
Net pension liability

Balance
June 30, 2024
$

377,200
966,380

138,588
468,172
9,215,689
$ 11,166,029

New Debt
Incurred
$

$

221,412
426,105
647,517

$

$

Debt
Retired

Balance
June 30, 2025

32,800
114,783

$

98,958
246,541

360,000
894,277
9,116,731
$ 11,567,005

344,400
851,597

Due Within
One Year
$

$

32,800
121,657
845,374
999,831

62

Converse County, Wyoming
June 30, 2025
Notes to the Financial Statements

Note 8.

Long-Term Debt (Continued)

Purchase lease obligations, ad valorem note payable, and compensated absences which are liabilities of the
primary government are generally liquidated by the general fund. The incurred but not reported claims are paid
by the internal service fund.

Ad Valorem Note Payable
In April 2022, the County entered into a $960,000 loan agreement at a 0% interest rate with the State of
Wyoming for relief from a potential funding shortfall resulting from Wyoming SF60 legislative change. The loan
is due in yearly installments of 8% of the loaned amount and a final payment of 4%. The loan matures on
December 15, 2035. The County passed the loan proceeds to the Weed and Pest, Glenrock Cemetery, and
Conservation Districts. The repayment of the notes receivable to the County will be handled through the
reduction of the tax distribution to these entities in the amount of the proportionate loan repayment each year.
The County’s custodial fund is managing the reduction of the tax distributions and repayment of the State loan.
Both Weed and Pest and Glenrock Conservation District elected to reduce their tax distributions by the full
amount of their outstanding notes receivable to the County and have paid their notes in full. Glenrock Cemetery
District’s paid $32,800 on their note receivable to the County through the reduction of their tax distribution. At
June 30, 2025, the outstanding balance of the note payable to the State was $344,400 with the same amount
due on the note receivable from Glenrock Cemetery District. The annual payments of $32,800 are due in each
fiscal year from 2023 to 2035 and a $16,400 payment in the 2036 fiscal year.

Lease Purchase Obligation
In March of 2023, the County has entered into a lease purchase obligation for three motor graders. The lease
agreement requires annual payments of $172,668 with interest at 5.99% and matures on April 1, 2029, with a
final payment of $321,120. The motor graders are collateral for the lease. Lease payment requirements to
maturity for the years ending June 30, are as follows:
Year Ending June 30,
2026
2027
2028
2029
2030

$

$

Principal
121,657
128,945
136,669
144,854
319,472
851,597

$

$

Interest
51,011
43,723
36,000
27,813
1,648
160,195

63

Converse County, Wyoming
June 30, 2025
Notes to the Financial Statements

Note 8.

Long-Term Debt (Continued)

Component Units
The following is a summary of changes in long-term debt of the component units, excluding the Hospital’s
discretely presented component units, for the year ended June 30, 2025:

Component Units
Notes payable
Lease purchase obligation
Compensated absences
Net pension liability

Balance
June 30, 2024
$ 35,411,388
3,300,567
3,243,653
1,162,488
$ 43,118,096

New Debt
Incurred

Debt
Retired

Balance
June 30, 2025

4,303,355
365,143
$ 4,668,498

$ 4,662,978
2,492,863
444
146,284
$ 7,302,569

$ 30,748,410
5,111,059
3,608,352
1,016,204
$ 40,484,025

$

Due Within
One Year
$

4,620,498
2,593,190
3,557,243
$ 10,770,931

Notes payable and leases include long-term debt related to the Hospital’s discretely presented component unit
and the detail is not included in the County’s financial statements. The Hospital’s and Weed and Pest’s long-term
debt is detailed below.
The Hospital borrowed $8,500,000 in 2015 in order to complete construction of the new medical office building.
The note payable was extended in 2023, increasing the loan amount by approximately $10,000,000 at an interest
rate of 3.25%. The note matures in December 2029. The Hospital has pledged certificates of deposit as collateral
for the full amount of the outstanding notes payable. The note includes a provision allowing the Hospital to
make additional draws. No additional draws were made during 2025.
The Hospital (SMC) borrowed $25,000,000 in 2022 maturing in May 2032 to fund operations at an interest rate
of 4.00%, unsecured.
The Hospital (SMC) also borrowed $1,440,000 in 2023 maturing in December 2047 with an interest rate of 6.9%
secured by land.
The Hospital has a line of credit with a balance of $1,644,729 with an interest rate of 5.75%, with a maximum
draw of $1,800,000.
Note payment requirements to maturity for the years ending June 30 are as follows:
Year Ending June 30,
2026
2027
2028
2029
2030
2031-2035
2036-2040
2041-2045
2046-2050

$

$

Principal
4,620,498
4,523,729
4,694,584
4,876,319
4,199,543
6,815,216
306,608
432,807
279,106
30,748,410

$

$

Interest
1,141,763
975,063
804,208
622,474
439,331
666,852
235,144
178,053
26,323
5,089,211

64

Converse County, Wyoming
June 30, 2025
Notes to the Financial Statements

Note 8.

Long-Term Debt (Continued)

Component Units (Continued)
The Hospital entered into lease agreements for certain equipment. The Hospital is required to make principal
and interest payments through June 2027. The lease agreements have interest rates between 3.00% and 3.50%.
Schedule principal and interest repayments on leases are as follows:
Year Ending June 30,
2026
2027
Total minimum lease payments

Note 9.

$
$

Principal
2,593,190
2,517,869
5,111,059

$
$

Interest
181,844
72,900
254,744

Defined Benefit and Contribution Pension Plans

Pension Plan Fiduciary Net Position
The Wyoming Retirement System issues a publicly available financial report which includes audited financial
statements and required supplementary information for each plan. Detailed information about the pension
plans’ fiduciary net position is available in separately issued Wyoming Retirement System financial report. The
report may be obtained from the Wyoming Retirement System website at http://retirement.state.wy.us.
All eligible County employees are covered under one of the two following retirement plans:

Public Employees’ Pension Plan
The County participates in the Public Employees’ Pension Plan ("PEPP"), a cost-sharing multiple-employer
defined benefit, contributory retirement plan covering substantially all employees of the State and of the PublicSchool Systems of Wyoming. The Plan also covers employees of those political subdivisions and other statutorily
allowed entities which have elected to participate in the Plan. Substantially all County full-time employees are
eligible to participate.
PEPP members are statutorily required to contribute 9.25% of their annual covered salary and the employer is
required to contribute 9.37% of the annual covered payroll for a total of 18.62%. Legislation enacted in 1979
allows the employer to subsidize all or part of the employee contribution. The County currently pays 100% of the
required contribution. Although paid by the County, for purposes of recording the net pension liability these
additional contributions are considered to be employee contributions. The County’s contributions to the PEPP
plan for the year ended June 30, 2025, were $1,224,022, equal to the required contributions for the year.
For the year ended June 30, 2025, the County’s, statutorily required contributions to the PEPP pension plan were
$615,955.
The County’s component units, Weed and Pest, the Airport, and the Library currently pay all of the required
employees’ contribution. The Weed and Pest’s contributions to PEPP for the year ended June 30, 2025, were
$38,820. The Library’s contributions to PEPP for the year ended June 30, 2025, were $149,902. The Airport’s
contributions to PEPP for the year ended June 30, 2025 were $13,000.

65

Converse County, Wyoming
June 30, 2025
Notes to the Financial Statements

Note 9.

Defined Benefit and Contribution Pension Plans (Continued)

Public Employees’ Pension Plan (Continued)
For the year ended June 30, 2025, the component units statutorily required contributions to the PEPP pension
plan were $101,571.
As of July 1, 2025, the statutory required contribution rate will not increase for the employer or the employee for
the PEPP plan.
The amount of contributions designated as employee contributions represents the portion of total contributions
that a participant retains ownership of and can elect to receive as a refund upon termination of employment.
Employers can elect to cover all or a portion of the employee's contribution at their discretion. Through
legislation passed during the 2014 legislative session, two tiers of benefits were established for participants of
this plan.
•

Tier 1, the Plan allows for normal retirement after four years of service and attainment of age 60. Early
retirement is allowed provided the employee has completed four years of service and attained age 50 or
25 years of service but will result in a reduction of benefits based on the length of time remaining to age
60.

•

Tier 2, the Plan allows for normal retirement after four years of service and attainment of age 65. Early
retirement is allowed provided the employee has completed four years of service and attained age 55,
or 25 or more years of service but will result in a reduction of benefits based on the length of time
remaining to age 65.

All employees may also retire upon normal retirement when the sum of the member’s age and service is at least
85.
Benefits are established by Title 9, Chapter 3 of the Wyoming Statutes. The PEPP provides retirement, disability
and death benefits according to predetermined formulas and allows retirees to select one of the seven optional
methods for receiving benefits, including two joint and survivor forms of benefits: a 100% joint and survivor
annuity, and a 50% joint and survivor annuity. The benefit amounts under these options are determined on an
actuarially equivalent basis. The State Legislature must grant any cost of living (COLA) adjustment provided to
retirees. In addition, a COLA will not be approved by the legislature unless the plan is 100% funded after the
COLA is awarded.
Employees terminating prior to normal retirement can elect to withdraw all employee contributions and
accumulated interest through date of termination or, if they are vested, they may elect to remain in the Plan and
be eligible for unreduced retirement benefits at age 60 (Tier 1 employee) or 65 (Tier 2 employee).

Law Enforcement Pension Plan
The County participates in the Wyoming Law Enforcement Pension Plan (“LEPP”), a cost sharing, multipleemployer defined benefit, contributory retirement plan covering any county sheriff, deputy county sheriff,
municipal police officer, Wyoming correctional officer, Wyoming law enforcement academy instructor, University
of Wyoming campus police office, detention officer or dispatcher for law enforcement agencies and certain
investigators of the Wyoming Livestock Board, Wyoming Gaming Commission and Wyoming Board of Outfitters.
On July 1, 2023, full-time state park rangers were added as members of the Law Enforcement Pension Plan.
66

Converse County, Wyoming
June 30, 2025
Notes to the Financial Statements

Note 9.

Defined Benefit and Contribution Pension Plans (Continued)

Pension Plan (Continued)
LEPP members are statutorily required to contribute 9.50% of their annual covered salary and the employer is
statutorily required to contribute 9.50% of the annual covered payroll for a total of 19.00%. Legislation enacted
in 1979 allows the employer to subsidize all or part of the employee contribution. The County has elected to
contribute 100% of the contributions on behalf of eligible employees. Although paid by the County, for
purposes of recording the net pension liability these additional contributions are considered to be employee
contributions. The County’s contributions to the LEPP plan for the year ended June 30, 2025, were $787,348
equal to the required contributions for the year.
For the year ended June 30, 2025, the County’s statutorily required contributions to the LEPP pension plan were
$393,674. As of July 1, 2025, there will be .90% increase in employee and employer statutorily required
contribution rates. The statutorily required contribution rates will increase from 9.5% to 10.4%.
The LEPP statutorily provides retirement, disability and death benefits according to predetermined amounts
determined by salary, age and years of service. The State Legislature must grant any COLA provided to retirees.
In addition, a COLA will not be approved by the legislature unless the plan is 100% funded after the COLA is
awarded. Participants may withdraw from the LEPP at any time and receive refunds of participant contributions
and accumulated interest.

Pension Liabilities, Pension Expense, and Deferred Outflows of Resources and Deferred Inflows of
Resources Related to Pensions
As of June 30, 2025, the County reported a total liability of $9,116,731 for its proportionate share of the net
pension liability. The County’s component units: Library, Weed and Pest, and Airport reported: $775,264,
$175,545, and $65,395, respectively, for their proportionate share of the net pension liability. The net pension
liability was determined by an actuarial valuation as of January 1, 2024, applied to all prior periods included in
the measurement. Actuarial valuation involves estimates of the reported amounts and assumptions about the
probability of occurrence of events far into the future. Amounts determined regarding the net pension liability
are subject to continual revision as actual results are compared with past expectations and new estimates are
made about the future. An experience study was conducted covered the five-year period ending December 31,
2020. The net pension liability as of December 31, 2024, is based on the results of an actuarial valuation as of
January 1, 2024, rolled forward to a measurement date of December 31, 2024.

67

Converse County, Wyoming
June 30, 2025
Notes to the Financial Statements

Note 9.

Defined Benefit and Contribution Pension Plans (Continued)

Pension Liabilities, Pension Expense, and Deferred Outflows of Resources and Deferred Inflows of
Resources Related to Pensions (Continued)
The schedule below shows the County’s proportionate share of the net pension liability at June 30, 2025, the
proportionate portion at the measurement date of December 31, 2024, and the change in the proportion from
the previous measurement date.
Pension
liability at
June 30, 2025

Proportion at
December 31, 2024

Increase
(decrease) from
December 31, 2023

County
Public Employees' Pension Plan

$

6,304,913

0.30231080%

0.019915200%

County - Sheriff
Law Enforcement Pension Plan

$

2,811,818

2.09344810%

0.017113100%

Public Employees' Pension Plan
Library

$

775,264

0.03717270%

-0.000927200%

Weed and Pest

$

175,545

0.00841710%

-0.001416900%

Airport

$

65,395

0.00313560%

-0.000132900%

For the year ended June 30, 2025, the County and its component units Library, Weed and Pest, and Airport
recognized pension expense of $786,064, $63,867, $24,299, and $2,300, respectively.

68

Converse County, Wyoming
June 30, 2025
Notes to the Financial Statements

Note 9.

Defined Benefit and Contribution Pension Plans (Continued)

Pension Liabilities, Pension Expense, and Deferred Outflows of Resources and Deferred Inflows of
Resources Related to Pensions (Continued)
At June 30, 2025, the County reported deferred outflows of resources and deferred inflows of resources related
to pensions from the following sources:
Deferred Outflows (Inflows) of Resources
Net difference
between projected
and actual earnings
on pension plan
investments
Changes in
assumptions
Difference between
actual and expected
experience rate
Change in
employer's proportion
Amortizing deferred
outflows and
deferred inflows
Contributions
subsequent to the
measurement date
Total

PEPP

$

-

$

-

LEPP

(798,262)

$

-

$

(551,147)

Total

Total

Outflows

(Inflows)

$

-

$ (1,349,409)

-

219,657

(2,056,549)

219,657

(2,056,549)

408,818

(7,590)

531,764

(70,385)

940,582

(77,975)

606,751

-

43,461

(12,003)

650,212

(12,003)

794,882

(2,690,084)

1,810,451

(3,495,935)

1,015,569

(805,852)

308,389
$ 1,323,958

$

(805,852)

199,287
$

994,169

$ (2,690,084)

507,676
$ 2,318,127

$ (3,495,935)

The County reported $507,676 as deferred outflows of resources related to contributions subsequent to the
measurement date, which will be recognized as a reduction of the net pension liability in the year ended June 30,
2026.
Other amounts reported as deferred outflows of resources and deferred inflows of resources related to pensions
will be recognized in pension expense as follows:
Year ended June 30,
2026
2027
2028
2029

$

$

PEPP
193,700
608,868
(391,117)
(201,734)
209,717

$

$

LEPP
(1,069,579)
(425,342)
(263,761)
(136,520)
(1,895,202)

69

Converse County, Wyoming
June 30, 2025
Notes to the Financial Statements

Note 9.

Defined Benefit and Contribution Pension Plans (Continued)

Pension Liabilities, Pension Expense, and Deferred Outflows of Resources and Deferred Inflows of
Resources Related to Pensions (Continued)
The County’s component units, Library, Weed and Pest, and Airport reported $40,072, $19,688, and $3,283
respectively, as deferred outflows of resources related to pensions resu