LARIMER COUNTY, COLORADO
NOTES TO FINANCIAL STATEMENTS
Year Ended December 31, 2000
NOTE 8 - CLOSURE AND POSTCLOSURE CARE COST OF LANDFILL:
State and federal laws and regulations require the County to place a final cover on its landfill site when it stops accepting waste and to perform certain maintenance and monitoring functions at the site for thirty years after closure. Although closure and postclosure care costs will be paid only near or after the date that the landfill stops accepting waste, the County reports a portion of these closure and postclosure care costs as an operating expense in each period based on landfill capacity used as of each balance sheet date. The $3,519,360 reported as landfill closure and postclosure care liability at December 31, 2000, represents the cumulative amount reported to date based on the use of 84.6 percent of the estimated capacity of the landfill. The County will recognize the remaining estimated cost of closure and postclosure care of $640,138 as the remaining estimated capacity is filled. These amounts are based on what it would cost to perform all closure and postclosure care in 2000. Actual cost may be higher due to inflation, changes in technology or changes in regulations. It is estimated that the County landfill has a remaining useful life of five years. The County is required by state and federal laws and regulations to demonstrate financial assurance. The County is in compliance with these requirements through the local government financial test.
Estimated total current cost of closure and postclosure care applicable to entire landfill for 2000 are as follows:
|
Equipment and Facilities Cost: |
|
|
Near date landfill stops accepting waste |
|
|
Installation of gas monitoring and venting systems |
$ 7,527 |
|
During closure/postclosure |
|
|
Expected renewals and replacements of |
|
|
stormwater erosion control facilities |
32,647 |
|
Final Cover Cost: |
|
|
Final cover material and labor, including vegetative cover |
2,859,123 |
|
Engineering Management |
136,391 |
|
Miscellaneous |
305,680 |
|
Postclosure Care Cost: |
|
|
Inspection and maintenance of final cover ($14,296 per year) |
428,880 |
|
Groundwater monitoring ($12,204 per year) |
366,120 |
|
Gas monitoring ($494 per year) |
14,820 |
|
Groundwater monitoring well replacement ($277 per year) |
8,310 |
|
Estimated cost in 2000 dollars of closure and postclosure care |
|
|
applicable to entire landfill |
$ 4,159,498 |
Calculation of accrued liability and annual expense amounts are as follows:
|
Depletion Allowances |
|
|
Total estimated capacity |
16,309,159 |
|
Cumulative capacity used to date |
13,799,213 |
|
Percent depleted |
84.6% |
|
Amount Previously |
Current Year |
|||
|
$4,159,498 X 13,799,213 |
Recognized |
Expense |
||
|
16,309,159 |
- |
3,517,716 |
= |
1,644 |
Back to 2000 Financial Report