1. (a) A permittee shall establish, implement, and maintain an approved financial assurance plan to guarantee the cost of facility closure, including post-closure as required by the facility permit and the solid waste rules.

2. (b) A financial assurance plan shall include:

   1. (1) A closure cost estimate prepared in accordance with Env-Sw 1403.02;
   2. (2) Provisions for guaranteeing the cost of facility closure based on one or any combination of the options specified in Env-Sw 1403.03 through Env-Sw 1403.05;
   3. (3) For the options specified in Env-Sw 1403.03, the identity and contact information of the financial institution providing the guarantee; and

   4. (4) For a local government proposing to use the state approved local government financial test to assure its obligations, as provided in Env-Sw 1403.05:

      1. a. A letter signed by the local government’s chief financial officer which:

         1. 1. Identifies all current cost estimates covered by a financial test, as described in Env-Sw 1403.05; and
         2. 2. Provides evidence of and certifies that the local government meets the conditions of Env-Sw 1403.05(a) through (h);

      2. b. The local government’s year-end financial statements for the latest fiscal year, audited by an independent, certified public accountant (CPA) who conducts comprehensive audits, with:

         1. 1. The unqualified opinion of the auditor; or
         2. 2. The qualified opinion of and a written explanation by the auditor as to why the qualification should be deemed insufficient to warrant disallowance of the financial test;

      3. c. A report to the local government by the local government’s independent CPA, as follows:

         1. 1. The report shall be based on performing a review of the financial ratios required by Env-Sw 1403.05(a)(3), if applicable, and the requirements of Env-Sw 1403.05(b) and Env-Sw 1403.05(c)(3) and (4); and
         2. 2. The report shall state the procedures performed and the CPA’s findings; and
      4. d. A copy of the comprehensive annual financial report (CAFR) used to comply with Env-Sw 1403.05(d) or certification that the requirements of Statement No. 18 of the Governmental Accounting Standards Board, “Accounting for Municipal Solid Waste Landfill Closure and Postclosure Care Costs”, NO. 101-A, published August, 1993, available as noted in Appendix B, have been met.

3. (c) A proposed financial assurance plan shall be:

   1. (1) Submitted by the permittee in accordance with Env-Sw 303; and
   2. (2) Reviewed and approved by the department pursuant to Env-Sw 1404.

Source. #6619-B, eff 10-29-97; (See Revision Note at chapter heading for Env-Sw 1400); ss by #8459, eff 10-28-05 (formerly Env-Wm 3103.01); ss by #10599, eff 7-1-14; ss by #14068, eff 9-3-24