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Indian River County, Florida <br /> Notes To Financial Statements <br /> Year Ended September 30, 2015 <br /> NOTE 13 -PROVISION FOR CLOSURE COSTS - Continued <br /> A summary of changes in the landfill closure liability account is as follows: <br /> Balance Balance <br /> -------------10/1/2014-------- ..............Deposits , _Withdrawals _09/30/15 <br /> Closure and long-term care costs $ 11,509,736 500,000 12,009,736 <br /> Of the $12,009,736 liability for closure and long-term care costs, management estimates that <br /> $4,630,451 will be due and payable within one year. <br /> NOTE 14—POLLUTION REMEDIATION <br /> In accordance with GASB Statement 49, Accounting and Financial Reporting for Pollution <br /> Remediation Obligations, a consultant evaluated two sites to assess pollution remediation liabilities. <br /> The consultant calculated for each site an expected value (EV) estimate for pollution remediation based <br /> on three plausible mitigation scenarios. An obligating event occurred at each of the following two sites <br /> requiring the County (using the consultant's services) to attempt to accrue a liability for pollution <br /> remediation. The liability totaled $2,551,200 at September 30, 2015 for the two sites. The pollution <br /> remediation obligation is an estimate and subject to changes resulting from price increases and <br /> reductions, technology, and changes in applicable laws or regulations. There are no estimated <br /> recoveries that would reduce the liability. <br /> Governmental Activities: <br /> 1) South Gifford Road closed landfill — The nature of the pollution remediation obligation is <br /> chlorinated solvent contamination. The consultant will conduct monitoring, bioremediation and <br /> reporting with the Florida Department of Environmental Protection (FDEP). The amount of the <br /> estimated year end liability is $2,530,000 and will be paid from the Optional Sales Tax Fund. <br /> 2) Old Administration Building — The nature of the pollution remediation obligation is closed <br /> underground storage tank contamination. The consultant will conduct monitoring and reporting <br /> with the FDEP. The amount of the estimated year end liability is $21,200 and will be paid from <br /> the General Fund. <br /> Total Governmental Activities liability: 2 551 200 <br /> 91 <br />