How will the Township pay to close its two landfills and its septage lagoons, when it has set aside $2,521,219 of a much larger estimated cost?
$2,521,219landfill and lagoon closure liability at December 31, 2024
The Township is legally required to clean up and close its landfill sites and sewage lagoons when they stop being used. The 2024 statements list this as a liability (a bill the Township expects to pay later) of $2,521,219. The statements also print the total estimated cost, before discounting for the time value of money, for each of the three sites: $2,643,577, $3,651,867 and $1,959,044. Added together, worked out by us, that is $8,254,488. The Sioux Narrows landfill is estimated to close in 9 years, and the statements say the liability must be funded within 5 years of closure. The auditor's report also draws attention to a correction of an error in how the cleanup cost was calculated.
Found by reading the town's own documents · 3 sources