2019 South Bend Financial Assurance Test Report

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SOLID WASTE LAND DISPOSAL FACILITIES (bb)The local government permittee’s independently audited year-end financial statements for the latest fiscal year (except for local government permittees where audits are required every two (2) years when unaudited statements may be used in years when audits are not required),including the unqualified opinion of the auditor,who shall be an independent certified public accountant,or the state board of accounts that conducts equivalent comprehensive audits. (cc)A report to the local government permittee from the local government permittee’s independent certified public accountant or the state board of accounts based on performing an agreed upon procedures engagement relative to the: (1)financial ratios required by item (i)(AA)(bb),if applicable;and (2)requirements of item (i)(BB),(i)(CC)(cc),and (i)(CC)(dd). The independent certified public accountant’s or state board of accounts’report must state the procedures performed and the findings. (dd)A copy of the CAFR used to comply with item (ii)or certification that the requirements of General Accounting Standards Board Statement 18 have been met. (BB)The items required in subitem (AA)must be placed in the facility operating record as follows: (aa)In the case of closure and post-closure care,either at the time of the next required local government financial test annual submittal or before the initial receipt of waste at the facility, whichever is later. (bb)In the case of corrective action,not later than one hundred twenty (120)days after the corrective action remedy is selected in accordance with the requirements of 329 IAC 10-21-13. (CC)After the initial placement of the items in the facility’s operating record,the local government permittee shall: (aa)update the information;and (bb)place the updated information in the operating record; within one hundred eighty (180)days following the close of the local government permittee’s fiscal year. (DD)The local government permittee is no longer required to meet the requirements of this item when either the local government permittee: (aa)substitutes alternate financial assurance as specified in this rule;or (bb)is released from the requirements of this rule in accordance with section 6 or 11 of this rule. (EE)A local government permittee shall satis1~’the requirements of the financial test at the close of each fiscal year.If the local government permittee no longer meets the requirements of the local government financial test,the local government permittee shall,within one hundred twenty (120)days following the close of the local government permittee’s fiscal year,complete the following: (aa)Obtain alternative financial assurance that meets the requirements of this rule. (bb)Place the required submissions for that assurance in the facility’s operating record. (cc)Noti&the commissioner that the local government permittee no longer meets the criteria of the financial test and that alternate assurance has been obtained. (FF)The commissioner,based on a reasonable beliefthat the local government permittee may no longer meet the requirements of the local government financial test,may require additional reports of financial condition from the local government permittee at anytime.If the commissioner finds,on the basis of the reports or other information,that the local government permittee no longer meets the requirements ofthe local government financial test,the local government permittee shall provide alternate financial assurance in accordance with this rule. (GG)The commissioner may disallow use of this test on the basis of qualifications in the opinion expressed in the state board of accounts’annual financial audit of the local government permittee.An adverse opinion or a disclaimer of opinion is cause for disallowance.Other qualifications may be cause for disallowance if,in the opinion of the commissioner,the qualifications indicate the local government permittee does not meet the requirements ofthis subdivision.The local government permittee shall choose an alternate financial responsibility mechanism within ninety (90)days after notification of the Indiana Administrative Code Page 254