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Indian River County, Florida <br />Notes To Financial Statements <br />Year Ended September 30, 2019 <br />82 <br /> <br /> <br />NOTE 11 - PROVISION FOR CLOSURE COSTS - Continued <br /> <br />A summary of changes in the landfill closure liability account is as follows: <br /> <br /> Balance Balance <br /> 10/1/2018 Deposits Withdrawals 09/30/19 <br /> <br />Closure and long-term care costs $ 14,115,178 $ 1,495,000 $ (7,455,496) $ 8,154,682 <br /> <br /> <br />Of the $8,154,682 liability for closure and long-term care costs, management estimates that $1,250,481 <br />will be due and payable within one year. <br /> <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 $1,615,300 at September 30, 2019 for the two sites. Of the <br />$1,615,300 liability for pollution remediation, management estimates that $74,273 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 /> <br /> Governmental Activities: <br /> <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 $1,600,000 and will <br />be paid from the Optional Sales Tax Fund. <br /> <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 $15,300 and will be paid from <br />the General Fund. <br /> <br /> Total Governmental Activities liability: $1,615,300 <br /> <br />