Illinois Administrative Code › Title 35 - ENVIRONMENTAL PROTECTION › Part 811 - STANDARDS FOR NEW SOLID WASTE LANDFILLS › Subpart G - FINANCIAL ASSURANCE › Appendix A - Financial Assurance Forms › ILLUSTRATION I - Letter from Chief Financial Officer

Current through Register Vol. 48, No. 28, July 12, 2024
LETTER FROM CHIEF FINANCIAL OFFICER
Director
Illinois Environmental Protection Agency
C/O Bureau of Land #24
1021 North Grand Avenue East
Post Office Box 19276
Springfield, Illinois 62794-9276
Dear Sir or Madam:
I am the chief financial officer of
					 ________________________________________________
This letter is in support of this firm's use of the gross
					 revenue test and financial test to demonstrate financial assurance pursuant to
					 35 Ill. Adm. Code 811.715.
Owner or Operator:
Name:
					 _________________________________________________________________
Address:
					 _______________________________________________________________
City:
					 __________________________________________________________________
Current cost estimate:
					 $____________________________________________________
Owner or Operator:
Name:
					 _________________________________________________________________
Address:
					 _______________________________________________________________
City:
					 __________________________________________________________________
Current cost estimate:
					 $____________________________________________________
Please attach a separate page if more space is needed for
					 all facilities.
Attached is an Owner's or Operator's Bond without Surety or
					 an Owner's or Operator's Bond with Parent Surety for the current cost estimate
					 for each site. (Strike inapplicable language.)
Gross Revenue Test
1. Gross revenue of the firm
				  $_____________
2. Gross revenue
				  from waste disposal operation $_______________
3. Line 2 divided by line
				  3_____________________
Financial Test Alternative I
1. Sum of current cost estimates (total of
				  all cost estimates shown in paragraphs above) $______________________
2. Total liabilities (if any portion of the
				  cost estimates is included in total liabilities, you may deduct the amount of
				  that portion from this line and add that amount to lines 3 and 4)
				  $______________
3. Tangible net
				  worth $___________________
4. Net
				  worth $_____________________________
5. Current assets
				  $____________________________
6.
				  Current liabilities $________________________
7. Net working capital (line 5 minus line 6)
				  $_________________
8. The sum of
				  net income plus depreciation, depletion, and amortization
				  $_____________________
9. Total
				  assets in U.S. (required only if less than 90 percent of firm's assets are
				  located in the U.S.) $____________________________
Yes/No
10. Is line 3 at least $10
				  million?_________________________
11. Is line 3 at least 6 times line
				  1?_______________________
12. Is
				  line 7 at least 6 times line 1?________________________
13. Are at least 90 percent of firm's assets
				  located in the U.S.? If not, complete line
				  14._______________________________________________________________
14. Is line 9 at least 6 times line 1?
				  ____________________
15. Is line 2
				  divided by line 4 less than 2.0 ?_____________________
16. Is line 8 divided by line 2 greater than
				  0.1 ?____________________
17. Is
				  line 5 divided by line 6 greater than 1.5 ?_______________________
Signature__________________________________
Typed
					 Name__________________________________
Title__________________________________
Date__________________________________
Financial Test Alternative II
1. Sum of current cost estimates (total of
				  all cost estimates shown in paragraphs above)
				  $__________________________________
2. Current bond rating of most recent
				  issuance of this firm and name of rating
				  service__________________________________
3. Date of issuance of
				  bond__________________________
4.
				  Date of maturity of bond_______________________________
5. Tangible net worth (if any portion of the
				  closure and post-closure cost estimates is included in "total liabilities" on
				  your firm's financial statements, you may add the amount of that portion to
				  this line) $______________
6. Total
				  assets in U.S. (required only if less than 90 percent of firm's assets are
				  located in the U.S.) $_________________________
Yes/No
7. Is line 5 at least $10
				  million?______________________________
8. Is line 5 at least 6 times line
				  1?________________________
9. Are
				  at least 90 percent of firm's assets located in the U.S.? If not complete line
				  10. __________________________________
10. Is line 6 at least 6 times line
				  1?______________________
Signature_____________________________________________________________
Typed
					 name___________________________________________________________
Title________________________
Date_______________________