• 5.4. The estimate of a remediation liability will include:

  • Costs directly attributable to remediation activities

  • Post-remediation operation, maintenance and monitoring that are an integral part of the remediation strategy for a contaminated site

  • The estimate of assets acquired, or to be acquired, as part of remediation activities to the extent those assets have no alternative use.

• 5.5. The consolidated financial reporting may disclose information about:

  • The nature and source of the liability

  • The basis for the estimate of the liability

  • When a net present value technique is used, the estimated total undiscounted expenditures and discount rate

  • The reasons for not recognizing a liability; and

  • The estimated recoveries.

• 5.6. The contaminated sites database will include, at a minimum:

  • Site identification

  • In-use vs. Inactive

  • Location

  • Name of department with oversight responsibility

  • Type of contamination, environmental standard

  • Financial information including criteria and assumptions related to the estimate of the liability

  • Remediation status.

6. REFERENCES AND RELATED DOCUMENTS

• 6.1. Contaminated Sites Accounting & Reporting Procedure (In draft)