2301_FYEND 2018 Local Government Test_20181026

0 . 0
Cleveland Count
FORTH
October 26, 2018
Sarah M. Rice, Compliance Officer
Solid Waste Section
Division of Waste Management -
North Carolina Department of Environment and Natural Resources RECEIVED
1646 Mail Service Center
Raleigh, North Carolina 27699-1646 Nov 2018
Subject: Financial Assurance Rule -- Local Government Financial TestSOLIDWASTE SECTION
Dear Sarah M. Rice:
ast
I am the chief financial officer of Cleveland County, North arolina, which is headquartered tuseloEthe
Marion Street in Shelby, North Carolina. This letter is in support of this unit of local government's
financial test to demonstrate financial assurance, as specified in N.C.G.S 130A 295.04.
ities for
This unit of local government is the owner or operator
onst ated tfollowing
hrough thelfinanc al test pec fi financial
d nassurance
N C G S
for closure, post -closure, or corrective action is demonstrated
rrective action cost estimates covered by the test are
130A 295.04. The current closure, post -closure, or co
shown for each facility:
Facility Name: CLEVELAND COUNTY LANDFILL EAST
Facility Address: PO BOX 1210, SHELBY NC 28151-1210
Permit Number: 2301-MSWLF-1998 $ -
-----------------------
Closure Cost Estimate: ----------- --------------------------------------- $ 470,950
Post -Closure Cost Estimate: ---------------'--""------"-"""-------
Corrective Action Cost Estimate:----------------------------""------
------------------------
Facility Name: CLEVELAND COUNTY CDLF
Facility Address: PO BOX 1210, SHELBY NC 28151-1210
Permit Number: 2301-CDLF-1997 over 2301-MSWLF-1990 - ----- ---- ----- -- $ 1,853,761
Closure Cost Estimate: -------------------------------------- --- ________________________ $ 999,716
Post -Closure Cost Estimate: --------------------------"----------- _____________
Corrective Action Cost Estimate: ------------------------- ----------------
FINANCE & PURCHASING DEPARTMENT
311 EAST MARION STREET
PO BOX 1210 • SHELBY, NC 28151-1210

Facility Name: CLEVELAND COUNTY LANDFILL SELF-MCNEILLY
Facility Address: PO BOX 1210, SHELBY NC 28150
Permit Number: 2301-MSWLF-2009
6049415
Closure Cost Estimate:------------------------------------------------------------------------- $ 1,,
Post -Closure Cost Estimate:------------------------------------------------------------------ $ ,96464,256
56
Corrective Action Cost Estimate:------------------------------------------------------------ $ -
Potential Assessment and Corrective Action Cost Estimate: -------------------------- $ 2,281,566
Total Costs to be Assured:-------------------------------------------------------------------- $ 13,619,664
The fiscal year of this unit of local government ends on June 30th. The figures for the following items
marked with an asterisk are derived from either this unit of local government's Annual Financial Information
Report (AFIR) or annual audited financial report for the latest completed fiscal year, ended June 30, 2011.
RATIO INDICATORS OF FINANCIAL STRENGTH
1. Sum of current closure, post -closure and corrective action cost estimates $ 13,619,664
2.* Sum of cash and investments (AFIR Part 7) $ 58,271,435
3.* Total expenditures (AFIR Part 4 Columns a & b and Part 5 for municipalities or Part 5
excluding educational capital outlays for counties) $ 128,345,514
4.* Annual debt service (AFIR Part 4 Section 1) $ 7,857,357
5. Assured environmental costs to demonstrate financial responsibility in the following
amounts under Division rules:
Solid waste management facilities under 15A NCAC 13B $ 13,619,664
Hazardous waste treatment, storage and disposal facilities under 15A NCAC 13A .0009
and .0010 $
Petroleum underground storage tanks under 15A NCAC 2N .0100 - .0800 $
Underground Injection Control System facilities under 15A NCAC 2D .0400 and 15A
NCAC 2C .0200 $
PCB commercial storage facilities under 15A NCAC 20 .0100 and 15A NCAC 2N .0100 $ -
Total assured environmental costs $ 13,619,664
6.* Total Annual Revenue (AFIR Part 2) $ 124,890,056
Circle either "yes" or "no" to the following questions.
7. Is line 5 divided by line 6 less than or equal to 43%?----------------------------- yes --- 10.905%
8. Is line 2 divided by line 3 greater than or equal to 5%?-------------------------- yes --- 45.402%
9. Is line 4 divided by line 3 less than or equal to 20%?----------------------------- yes --- 6.122%

operated at a total operating fund
government has not op ears, 2 that
1 that this unit of local g term
I hereby certify the following: ( )
nt or more of total annual revenue in eitheeneral obligationsbondsor long -
deficit equal to five percent outstanding g
e an outstanding general obligation bonds rated lower than Baa as
this unit of local government tshavt in default on any s issued by Fitch's, or 75 as issued by the
obligations, and (3) do Standard & Poor's, BBB a
issued by Moody's, BBB as issued by
Municipal Council.
Respectfully yours,
Shane ox
County Chief Financial Officer
October 30, 2018
CC: Nathan McNeilly, Wayne Sullivan; Files