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Indian River County, Florida Notes To Financial Statements Year Ended September 30, 2010 NOTE 15 — POLLUTION REMEDIATION In accordance with GASB Statement 49, a consultant evaluated six sites to assess pollution remediation liabilities. The consultant calculated for each site an expected value (EV) estimate for pollution remediation based on three plausible mitigation scenarios. An obligating event occurred at each of the following six sites requiring the County (using the consultant's services) to attempt to accrue a liability for pollution remediation. The liability totaled $2,539,800 at September 30, 2010 for all six sites. The pollution remediation obligation is an estimate and subject to changes resulting from price increases and reductions, technology, and changes in applicable laws or regulations. There are no estimated recoveries that would reduce the liability. Governmental Activities: 1) South Gifford Road closed landfill — The nature of the pollution remediation obligation is chlorinated solvent contamination. The consultant has conducted cleanup work and has coordinated with the Florida Department of Environmental Protection (FDEP). The amount of the estimated year end liability is $2,200,000. 2) Old Administration Building — The nature of the pollution remediation obligation is closed underground storage tank contamination. The consultant conducted groundwater sampling and coordinated with the FDEP. The amount of the estimated year end liability is $32,400. 3) Sheriff's Administration Building — The nature of the pollution remediation obligation is underground storage tank closure and closure reporting. The consultant will conduct the remediation work and coordinate with the FDEP. The amount of the estimated year end liability is $3,000. 4) Cattle dip site — The nature of the pollution remediation obligation is arsenic contamination. The consultant will conduct the remediation work and coordinate with the FDEP. The amount of the estimated year end liability is $74,800. 5) Former Cumberland Farms — The nature of the pollution remediation obligation is closed underground storage tank petroleum contamination. The consultant will conduct the remediation work and coordinate with the FDEP. The amount of the estimated year end liability is $188,000. Total Governmental activities liability: $2,498,200 Business -type Activities: 6) North County Reverse Osmosis plant — The nature of the pollution remediation obligation is groundwater inorganics contamination. The consultant will conduct the remediation work and coordinate with the FDEP. The amount of the estimated year end liability is $41,600. Please see Note 21-C for information regarding the restatement of beginning net assets for the governmental activities as it relates to the pollution remediation liability. Mh