2014 South Bend Financial Assurance Test Report

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SOLID WASTE LAND DISPOSAL FACILITIES in accordance with this rule. (ii) The local government permittee shall meet the following public notice component requirements: (AA) The local government permittee shall place a reference to the closure and post - closure care costs assured through the financial test into the local government permittee's next comprehensive annual financial report (CAFR) at the time ofthe next required local government financial test annual submittal or before the initial receipt of waste at the facility, whichever is later. Disclosure must include the following: (aa) Nature and source of closure and post - closure care requirements. (bb) Reported liability at the balance sheet date. (cc) Estimated total closure and post - closure care cost remaining to be recognized. (dd) Percentage of landfill capacity used to date. (ee) Estimated landfill life in years. (BB) A reference to corrective action costs must be placed in the CAFR not later than one hundred twenty (120) days after the corrective action remedy has been selected in accordance with the requirements of 329 IAC 10- 21 -13. (CC) For the first year the financial test is used to assure costs at a particular facility, the reference may instead be placed in the facility's operating record until issuance of the next available CAFR if timing does not permit the reference to be incorporated into the most recently issued CAFR or budget. (DD) For closure and post- closure costs, conformance with Government Accounting Standards Board Statement 18 assures compliance with this public notice component. (iii) The local government permittee shall meet the following record keeping and reporting requirements: (AA) The local government permittee shall place the following items in the facility's operating record: (aa) A letter signed by the local government permittee's chief financial officer that completes the following: (1) Lists all of the current cost estimates covered by a financial test as described in clause (C). (2) Provides evidence and certifies that the local government permittee meets the conditions of item (i)(AA) through (i)(CC). (3) Certifies that the local government permittee meets the conditions of item (ii) and clause (C). (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 reporttothe 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 Indiana Administrative Code Page 253