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Indian River County, Florida <br />Notes To Financial Statements <br />Year Ended September 30, 2018 <br />NOTE 11 - PROVISION FOR CLOSURE COSTS - Continued <br />A summary of changes in the landfill closure liability account is as follows: <br />Balance Balance <br />10/1/2017 Deposits Withdrawals 09/30/18 <br />Closure and long-term care costs $ 14,009,736 $ 1,270,000 $ (1,164,558) $ 14,115,178 <br />Of the $14,115,178 liability for closure and long-term care costs, management estimates that <br />$8,506,674 will be due and payable within one year. <br />NOTE 12 — 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 $2,121,900 at September 30, 2018 for the two sites. Of the <br />$2,121,900 liability for pollution remediation, management estimates that $92,647 will be due and <br />payable within one year. The pollution remediation obligation is an estimate and subject to changes <br />resulting from price increases and reductions, technology, and changes in applicable laws or <br />regulations. There are no estimated 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 FDEP. The amount of the estimated year end liability is $2,110,000 and will <br />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 $11,900 and will be paid from <br />the General Fund. <br />Total Governmental Activities liability: $2,121,900 <br />83 <br />