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N.C. Department of Environment and Natural Resources

NC Department of Environment and Natural Resources
Waste Management - DWM - SW - Financial Assurance

Waste Management

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Financial Assurance for Solid Waste Management Facilities

 *** FY 2013 PACA Memo August 12, 2013 ***

 *** Financial Assurance Memo October 12, 2010 ***

 The Financial Assurance Program is based on the Financial Assurance Rule .1628 which requires owners/operators of municipal solid waste landfills (MSWLFs), operating after April 9, 1994,  to demonstrate that the owner/operator will have the funds necessary to properly close,  provide 30 years of post-closure maintenance, and fund any corrective action costs for the permitted landfill.   The rules describe seven different "mechanisms" that owners/operators of MSWLFs can use to demonstrate financial assurance.  The seven mechanisms are as follows:

 

Municipal Solid Waste Landfill (MSWLF) .1600 Rule Mechanisms:

 

Mechanisms for all other Solid Waste Management Facilities: 

 

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 Effective January 1, 2014,
the INFLATION FACTOR PRICE DEFLATOR/MULTIPLIER = 1.015 

 

Effective January 1, 2013,
 the INFLATION FACTOR PRICE DEFLATOR/MULTIPLIER = 1.018

 

 Effective January 1, 2012,
 the INFLATION FACTOR is 2.1% PRICE DEFLATOR/MULTIPLIER = 1.021

 

Each year's "Financial Assurance Mechanism"  must contain, when applicable, inflation adjusted cost estimates for closure, post-closure care, and corrective action or a new cost estimate. If an inflation adjusted cost estimate is to be used, it must be based on US Department of Commerce, Bureau of Economic Analysis' (BEA) Gross Domestic Product implicit price deflator.    

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