• 4.3. The Chief Financial Officer & City Treasurer or designate is responsible for:

  • 4.3.1. Compliance with PSAB 3260 reporting requirements for contaminated sites.

  • 4.3.2. Providing an acceptable accounting structure that supports the recording of contaminated sites.

  • 4.3.3. Utilizing a reasonable and cost effective approach to estimate the liabilities associated with contaminated sites that is acceptable to external auditors.

  • 4.3.4. Management and maintaining the database of contaminated sites.

    4.3.4.1. Liaise with departments responsible for the accuracy and integrity of site information.

  • 4.3.5. Providing communication, training and on-going support on the use of this Policy and related procedures.

  • 4.3.6. The review and update of this Policy, and associated procedures, at a minimum, every five (5) years or sooner if required and recommend changes as necessary.

• 4.4. Executive Directors and ABC’s CEO/CAO or designates are responsible to:

  • 4.4.1. Identify potential contaminated sites for land/buildings designated under their responsibility and report to Finance.

  • 4.4.2. Provide up to date, timely and accurate contaminated site information, to Finance, for database maintenance.

• 4.5. The Manager of Financial Accounting is responsible to:

  • 4.5.1. Properly record contaminated sites liability on the City’s statement of financial position on an annual basis.

  • 4.5.2. Maintain a continuity schedule and supporting documentation, satisfactory to the City’s external auditors, to support the recorded liability.

5. GOVERNING RULES AND REGULATIONS

• 5.1. The identification of non-productive sites (no longer in use) is based on consideration and a risk based assessment of all facilities and land within Policy Scope Sec. 3.1. above.

• 5.2. All facilities and land within Policy Scope, Sec. 3.1, that are found to be contaminated or are at risk of contamination will be reported to Finance. Only sites that are no longer in productive use will be included in PSAB 3260 compliant financial reporting.

• 5.3. An accounting and reporting liability for remediation may result from items such as:

  • All or part of an operation of the City that is no longer in productive use

  • All or part of an operation for which the City accepts responsibility

  • An environmental standard exists

  • Contamination exceeds the environmental standard

  • Changes to environmental standards

  • An unexpected event resulting in contamination

  • A reasonable estimate of the amount can be made.