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Indian River County, Florida Notes To Financial Statements Year Ended September 30, 2013 NOTE 15 — POLLUTION REMEDIATION In accordance with GASB Statement 49, Accounting and Financial Reporting for Pollution Remediation Obligations, a consultant evaluated five 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 five sites requiring the County (using the consultant's services) to attempt to accrue a liability for pollution remediation. The liability totaled $2,737,900 at September 30, 2013 for all five 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 will conduct monitoring, bioremediation and reporting with the Florida Department of Environmental Protection (FDEP). The amount of the estimated year end liability is $2,640,000 and will be paid from the Optional Sales Tax Fund. 2) Old Administration Building — The nature of the pollution remediation obligation is closed underground storage tank contamination. The consultant will conduct monitoring and reporting with the FDEP. The amount of the estimated year end liability is $11,200 and will be paid from the General Fund. 3) Cattle dip site — The nature of the pollution remediation obligation is arsenic contamination. The consultant will conduct monitoring and assessment. The amount of the estimated year end liability is $73,200 and will be paid from the Impact Fees Fund. 4) Shadowbrook Estates — The nature of the pollution remediation obligation is arsenic and lead contamination in two areas of a former citrus grove. The consultant will conduct the additional assessment and natural attenuation monitoring. The amount of the estimated year end liability is $3,000 and will be paid from a nonmajor fund, the Land Acquisition Fund. Total Governmental Activities liability: $2,727,400 Business -type Activities: 5) North County Reverse Osmosis plant — The nature of the pollution remediation obligation is groundwater inorganic contamination. The consultant will conduct monitoring and assessment. The amount of the estimated year end liability is $10,500 and will be paid from the County Utilities Fund. Total Business -type Activities liability: $10,500 86