<p> FISCAL SERVICES</p><p>To: All Fiscal Officers</p><p>From: Royce Chesser, Supervisor of Financial Reporting</p><p>Date: November 28, 2017</p><p>Subject: Pollution Remediation Obligations</p><p>The Governmental Accounting Standards Board (GASB) Statement No. 49, Accounting and Financial Reporting for Pollution Remediation Obligations, gives specific guidance for financial reporting of liabilities for pollution remediation. The GASB defines a pollution remediation obligation as an obligation to address the current or potential detrimental effects of existing pollution by participating in pollution remediation activities. Examples of pollution remediation activities are as follows:</p><p> Purchases of vacant properties with pollution issues  Leaking underground storage tanks  Abandoned waste dumps on land owned by the County  Offsite disposals of solid and liquid industrial waste  Asbestos removal  Migration of pollution from County owned property</p><p>According to the GASB, Franklin County needs to consider reporting a liability if any of the following obligating events has occurred:</p><p> The County is compelled to take remediation action because pollution creates an imminent endangerment to public health, welfare, or the environment, leaving it little or no discretion to avoid remediation action.  A pollution-related permit or license has been violated.  The County has been named, or will be named, by a regulator as a responsible party for remediation.  The County has been named, or will be named, in a lawsuit to compel remediation.  The County has obligated itself to commence pollution remediation efforts.</p><p>You will find the “Pollution Remediation Activity” template to use by opening the hyperlink below: http://www.franklincountyauditor.com/fiscally-speaking/year-end-forms </p><p>The completed schedule should be forwarded to Royce Chesser at [email protected] no later than January 19, 2018. If your agency does not have pollution remediation obligations, please sign and date below, and return this form.</p><p>Name Date </p><p>Agency </p><p>If you have any questions, contact Royce Chesser at 614-525-7390 or [email protected]. Thank you for your cooperation.</p><p>373 South High Street, Columbus Ohio 43215-6310  614.525.7399  www.franklincountyauditor.com</p>