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way this could be set out and explained in the Financial Report <br />would be to include something about it in the Transmittal Letter. <br />Commissioner Scurlock continued to stress that there is a <br />different picture painted between our financial statements and <br />what we are really doing, and it makes it difficult for the Board <br />to justify these things to the general public. <br />Finance Director Fry felt one of the problems you always run <br />into with financial reporting is that it is all history. The <br />Board must look to the future, but financial statements always <br />look back. <br />Commissioner Scurlock again referred to the Landfill <br />coverage and noted the figures indicate that we have had only one <br />year in the last ten where we were close to the 1.25 coverage. <br />Ms. Hill pointed out that the 1.25 coverage is a minimum. It <br />is only designed to protect the bond holders and may not be all <br />the money you need to operate effectively. If you were right at <br />minimum coverage, you would be very close to potential problems. <br />Commissioner Scurlock noted that we had talked at one time <br />about a surcharge to take care of unexpected land closure costs, <br />and he questioned Utilities Director Pinto about that. <br />Director Pinto advised that we are required to have a 100 <br />R&R fund plus an amount each year for future closure costs, which <br />are substantial. There is also a requirement each year for a <br />maintenance fund of the old cell. <br />Commissioner Scurlock asked if we did not have the Special <br />Assessment program we have developed for Solid Waste, what the <br />tipping fees would be at the Landfill at this time, and Director <br />Pinto estimated that for the coming year they would be in the $50 <br />range. He also felt the rates probably would have tripled for <br />those who were having the garbage picked up at their homes. <br />Commissioner Scurlock wished to make the point that if we <br />did away with the special assessment and went back to some sort <br />of tipping fee, there would have been a significant increase in <br />any event. All we have changed is how we collect the money, and <br />3 9 9�1 <br />MAY 2 3 1989 �oo� <br />