§ 9-4-602 — Distribution and use; state treasurer's duty

(a) Except as hereafter provided, distribution under W.S.
9-4-601 shall be made by the state treasurer within thirty (30)
days after the receipt of the government royalty funds for the
preceding period. Federal mineral royalties received by the
state on a continuing monthly basis shall be distributed under
W.S. 9-4-601 by the state treasurer, subject to the following:
(i) Federal mineral royalties earned during each
fiscal year shall be recognized as revenue during that fiscal
year for accounting purposes;
(ii) Except as provided in paragraph (iii) of this
subsection, revenues which are both earned and received during
the first three (3) calendar quarters of the fiscal year shall
be distributed within the first ten (10) days of October,
January and April. For the last quarter of each fiscal year,
revenues earned or received shall be distributed not later than
June 30. In computing distributions for the last quarter, the
state treasurer shall use the most recent consensus revenue
estimating group estimates to the extent that earnings cannot be
determined by June 30. Not later than September 15, the state
treasurer shall compute the actual earnings for the last quarter
of the preceding fiscal year and make adjustments to the October
distributions in an amount equal to the difference between
revenues earned and actual distributions for the preceding
fiscal year;
(iii) Federal mineral royalties to be distributed to
the public school foundation program account under W.S.
9-4-601(a)(ii) and to or for local governments under W.S.
9-4-601(a)(v) and (vi) shall be distributed as follows:
(A) For distributions to the public school
foundation program account, distributions shall be made monthly
in an amount equal to one-twelfth (1/12) of the amount estimated
to be earned in the current fiscal year based upon the most
recent consensus revenue estimating group estimates. For
distributions to local governments, distributions shall be made
quarterly in an amount equal to one-fourth (1/4) of the amount
estimated to be earned in the current fiscal year based upon the
most recent consensus revenue estimating group estimates. In
computing distributions, the state treasurer shall make
adjustments to reflect any changes in the consensus revenue
estimating group estimates;
(B) Not later than September 15, the state
treasurer shall compute actual earnings for the preceding fiscal
year and shall make adjustments to distributions during the
current fiscal year in an amount equal to the difference between
revenues earned and actual distributions for the preceding
fiscal year.