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JEFFREY R. SMITH, CPA, CGFO, CGMA <br />Clerk of Circuit Court & Comptroller <br />180127' Street <br />Vero Beach, FL 32960 <br />Telephone: (772) 226-1205 <br />TO: The Honorable Members of the Board of County Commissioners <br />THROUGH: Jeffrey R. Smith, Clerk of the Circuit Court and Comptroller "Zo <br />FROM: Elissa Nagy, Assistant Finance Director <br />DATE: April 18, 2017 <br />SUBJECT: Approval of Landfill Escrow Agreement <br />The County maintains a separate account for the accumulation of funds related to landfill <br />closure and long-term care. That account is separately audited and a report is submitted <br />to the Department of Environmental Protection (DEP) annually to show the County has <br />met the requirements of Florida Administrative Code Rule 62-701.630. Balances in this <br />account are maintained as per the amount calculated by CDM Smith on the annual <br />financial assurance report. <br />In addition, subsection (5)(c) of Rule 62-701.630 requires the County to have an escrow <br />agreement in place for the deposits and disbursements related to landfill closure and long <br />term care. The County has met that requirement through an escrow agreement from <br />1992. The Finance Department has since updated the agreement based on current DEP <br />requirements and it now requires approval by the Board of County Commissioners. . <br />Recommendation <br />We respectfully request the Board of County Commissioners to authorize the Chairman <br />to sign the new escrow agreement. <br />P59 <br />