Missouri Code of State Regulations › Title 10 - DEPARTMENT OF NATURAL RESOURCES › Division 26 - Petroleum and Hazardous Substance Storage Tanks › Chapter 3 - Underground Storage Tanks- Financial Responsibility › Section 10 CSR 26-3.113 - Local Government Financial Test

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This rule describes the requirements for use
				  of a local government financial test for demonstrating financial
				  responsibility.
(1) A local
				government owner or operator may satisfy the requirements of
				10
				CSR 26-3.093 by passing the financial test specified
				in this rule. To be eligible to use the financial test, the local government
				owner or operator shall have the ability and authority to assess and levy taxes
				or to freely establish fees and charges.
(2) To pass the local government financial
				test, the owner or operator must meet the criteria of subsections (2)(B) and
				(C) of this rule based on year-end financial statements for the latest
				completed fiscal year-
(A) The local
				government owner or operator must have the following information available, as
				shown in the year-end financial statements for the latest completed fiscal
				year:
1. Total revenues. Consists of the sum
				of general fund operating and nonoperating revenues including net local taxes,
				licenses and permits, fines and forfeitures, revenues from use of money and
				property, charges for services, investment earnings, sales (property,
				publications, and the like), intergovernmental revenues (restricted and
				unrestricted), and total revenues from all other governmental funds including
				enterprise, debt service, capital projects, and special revenues, but excluding
				revenues to funds held in a trust or agency capacity. For purposes of this
				test, the calculation of total revenues shall exclude all transfers between
				funds under the direct control of the local government using the financial test
				(interfund transfers), liquidation of investments, and issuance of
				debt;
2. Total expenditures.
				Consists of the sum of general fund operating and nonoperating expenditures
				including public safety, public utilities, transportation, public works,
				environmental protection, cultural and recreational, community development,
				revenue sharing, employee benefits and compensation, office management,
				planning and zoning, capital projects, interest payments on debt, payments for
				retirement of debt principal, and total expenditures from all other
				governmental funds including enterprise, debt service, capital projects, and
				special revenues. For purposes of this test, the calculation of total
				expenditures shall exclude all transfers between funds under the direct control
				of the local government using the financial test (interfund
				transfers);
3. Local revenues.
				Consists of total revenues (as defined in paragraph (2)(A)1. of this rule)
				minus the sum of all transfers from other governmental entities, including all
				monies received from federal, state, or local government sources;
4. Debt service. Consists of the sum of all
				interest and principal payments on all long-term credit obligations and all
				interest-bearing short-term credit obligations. Includes interest and principal
				payments on general obligation bonds, revenue bonds, notes, mortgages,
				judgments, and interest-bearing warrants. Excludes payments on
				non-interest-bearing short-term obligations, inter-fund obligations, amounts
				owed in a trust or agency capacity, and advances and contingent loans from
				other governments;
5. Total funds.
				Consists of the sum of cash and investment securities from all funds, including
				general, enterprise, debt service, capital projects, and special revenue funds,
				but excluding employee retirement funds, at the end of the local government's
				financial reporting year. Includes federal securities, federal agency
				securities, state and local government securities, and other securities such as
				bonds, notes, and mortgages. For purposes of this test, the calculation of
				total funds shall exclude agency funds, private trust funds, accounts
				receivable, value of real property, and other nonsecurity assets; and
6. Population consists of the number of
				people in the area served by the local government;