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<br /> <br />CDM has advised that the County should have funds set aside in the amount of $1,392,134 at the end of <br />FY 2009 to ensure that the amount necessary for all future postclosure costs ($4,050,000) is available in <br />2014. To do so, an annual transfer will be made from excess revenues over expenditures every year to <br />rebuild this liability ensuring funds are available as costs come due. Attached is a five year financial <br />projection that illustrates how these funds will be built backup. In addition, these funds will continue to <br />grow from interest earnings past 2014. Therefore, it is important to note that the cost of the new <br />expansion ($],700,000) will be paid from capital outlay, however because the liability currently has <br />more funds set aside than is necessary to date, the County plans to reallocate these funds to pay for the <br />cost of the new expansion. Due to estimates being used over the next five years, Finance staff has also <br />projected that by 2014 there will be approximately $800,000 cash in excess of the required liability <br />amount to serve as a cushion for any unforeseeable events that may occur. There are no plans for any <br />significant capital outlay purchases.. <br />i <br />u <br />0 <br />u <br />r <br />i <br /> <br />'J <br />r~ <br />i~ <br />C <br />Item# 13 <br />Attachment number 1 <br />F-10 320 of 408 <br />