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INDIAN RIVER COUNTY, FLORIDA <br />NOTES To FINANCIAL STATEMENTS - CONTINUED <br />Year Ended September 30, 1992 <br />B. Long -Term Debt - Continued: <br />E. Capital Leases and Notes Payable - Continued <br />The following is an analysis of the leased property under capital leases: <br />9. Provision for Closure Costs: <br />As explained in Note 1.0., current regulations of the U.S. Environmental Protection <br />Agency (EPA) and the Florida Department of Environmental Regulation (FDER) require <br />the Solid Waste Disposal District (SWDD) to place a final cover on closed landfill <br />areas, and to maintain those areas for up to thirty years after closure. The SWDD <br />recognizes the expenses associated with final closure and post -closure maintenance <br />of the landfill areas over the active life of those areas. These costs are recog- <br />nized in each operating period based on the amount of waste received during that <br />period, regardless of when cash disbursements are made for these costs. <br />The SWDD periodically obtains updated and revised estimates of total future closure <br />and post -closure costs from its consulting engineers. The provision for closure <br />costs reported in the financial statements as operating expense represents the <br />portion of these estimated future outlays which are allocable to the current year <br />based on the amount of waste received at active landfill areas during the year. <br />The total unrecognized closure and post -closure costs attributable to the currently <br />active landfill area (Segment II) is approximately $2.1 million. These costs will <br />be recognized in future periods as the remaining capacity is filled. This landfill <br />area is expected to close in the year 1996. In addition, the SWDD has already <br />purchased land which is expected to provide landfill capacity through the year 2002. <br />B-46 <br />i <br />Capitalized <br />Cost <br />Clerk <br />Board of <br />of the <br />Type of County <br />Commissioners <br />Circuit <br />Court <br />Property <br />Sheriff Apnraiser <br />Total <br />Property <br />Computer <br />$ <br />_ <br />$ <br />$ _ $440,694 <br />$ 440,694 <br />equipment <br />Copier equipment <br />- <br />7,671 <br />70,163 _ <br />77,834 <br />Automotive <br />- - <br />475,775 <br />equipment <br />475,775 <br />- <br />Communication <br />- <br />129.605 - <br />129,605 <br />equipment <br />$475,775 <br />S 7.671 <br />S199,768 $440,694 <br />21,123,908 <br />The equipment listed above is recorded in <br />the General Fixed Assets Account <br />Group. <br />9. Provision for Closure Costs: <br />As explained in Note 1.0., current regulations of the U.S. Environmental Protection <br />Agency (EPA) and the Florida Department of Environmental Regulation (FDER) require <br />the Solid Waste Disposal District (SWDD) to place a final cover on closed landfill <br />areas, and to maintain those areas for up to thirty years after closure. The SWDD <br />recognizes the expenses associated with final closure and post -closure maintenance <br />of the landfill areas over the active life of those areas. These costs are recog- <br />nized in each operating period based on the amount of waste received during that <br />period, regardless of when cash disbursements are made for these costs. <br />The SWDD periodically obtains updated and revised estimates of total future closure <br />and post -closure costs from its consulting engineers. The provision for closure <br />costs reported in the financial statements as operating expense represents the <br />portion of these estimated future outlays which are allocable to the current year <br />based on the amount of waste received at active landfill areas during the year. <br />The total unrecognized closure and post -closure costs attributable to the currently <br />active landfill area (Segment II) is approximately $2.1 million. These costs will <br />be recognized in future periods as the remaining capacity is filled. This landfill <br />area is expected to close in the year 1996. In addition, the SWDD has already <br />purchased land which is expected to provide landfill capacity through the year 2002. <br />B-46 <br />i <br />