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January 3, 2012 (Work Session)
<br />Page 926
<br />The construction of extension of the current waste placement area
<br />was completed in early October. The department of environment
<br />and natural resources granted an operating permit for this area
<br />on November 1. Once the construction was completed, an airspace
<br />survey for the new area was conducted. This study determined
<br />that the new area will provide a total of 83,000 cubic yards of
<br />additional airspace. Assuming that an average of 2,000 tons of
<br />construction and demolition waste enters the landfill, airspace
<br />in this section of landfill would last until June 2013.
<br />This additional revenue coming into the landfill will help reduce
<br />the General Fund contribution needed to fully fund the closure /
<br />post closure liability balance. Financial data is included to
<br />show the impact of keeping the landfill open until the end of
<br />June, 2013.
<br />Closing the landfill June 30, 2012 may require additional funding
<br />due to regarding of waste per closure specifications.
<br />We are asking for direction as to whether we should continue to
<br />operate the landfill until this area fills up in 2013 or if we
<br />should close operations the end of this fiscal year.
<br />CABARRUS COUNTY LANDFILL
<br />PROJECTED FINANCIAL INFORMATION
<br />OPTION A: CLOSE JUNE 30, 2013
<br />2012 2013
<br />Tipping Fee
<br />$ 31.001
<br />$ 31.00
<br />TOTAL REVENUES
<br />$1,068,345
<br />$1,068,345
<br />OPERATING EXPENSES
<br />572,497
<br />572,497
<br />495,848
<br />495,848
<br />OPERATING INCOME
<br />Capital Reserve Expense - Transfer to C /PC
<br />-
<br />767,496
<br />NET OPERATING INCOME
<br />495,848
<br />(271,648)
<br />CASH FLOW PROJECTION:
<br />3,349,072
<br />Net Income (Loss)
<br />Beginning Cash - 7/1/11
<br />3,349,072
<br />3,692,837
<br />Net Income (Loss)
<br />495,848
<br />(271,648)
<br />Less: Closure for Current /Expansion
<br />-
<br />(1,218,384)
<br />Less: Monitoring & Care Costs
<br />(152,083)
<br />(155,249)
<br />Sub -Total
<br />3,692,837
<br />2,047,555
<br />Transfer of Fund Balance to C /PC
<br />-
<br />767,496
<br />General Fund Contribution - C /PC
<br />-
<br />756,649
<br />3,692,837
<br />3,571,700
<br />Ending Cash
<br />Closure /PC Liability Balance
<br />3,421,189
<br />3,571,700
<br />Fund Balance (Cumulative)
<br />271,6481
<br />0
<br />CABARRUS COUNTY LANDFILL
<br />PROJECTED FINANCIAL INFORMATION
<br />OPTION B: CLOSE JUNE 30, 2012
<br />2012
<br />Tipping Fee
<br />$ 31.00
<br />TOTAL REVENUES
<br />$ 1,068,345
<br />OPERATING EXPENSES
<br />572,497
<br />OPERATING INCOME
<br />495,848
<br />Capital Reserve Expense - Transfer to C /PC
<br />271,648
<br />NET OPERATING INCOME
<br />224,200
<br />CASH FLOW PROJECTION:
<br />Beginning Cash - 7/1/11
<br />3,349,072
<br />Net Income (Loss)
<br />224,200
<br />Less: C &D Over MSW Closure
<br />-
<br />Less: Closure for Current /Expansion
<br />(1,218,384)
<br />Less: Monitoring & Care Costs
<br />(152,083)
<br />Sub -Total
<br />2,202,805
<br />Transfer of Fund Balance to C /PC
<br />271,648
<br />General Fund Contribution - C /PC
<br />1,097,247
<br />Ending Cash
<br />3,571,700
<br />Closure /PC Liability Balance
<br />3,571,700
<br />Fund Balance (Cumulative)
<br />(0)
<br />A discussion ensued related to raising the tipping fee and associated
<br />consequences. Mr. Grant and Kyle Bilafer, General Services Director,
<br />responded to a variety of questions from the Board. During discussion, the
<br />Board expressed support for increasing the tipping fee to $35.00 and closing
<br />
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