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I
<br /> Yuma County,Colorado
<br /> Notes to the Financial Statements
<br /> I December 31,2009
<br /> (Continued)
<br /> IIll. Detailed Notes on All Funds (continued)
<br /> F. Long-term Liabilities(continued)
<br /> I5. Landfill Closure Costs—Contingent Liability (continued)
<br /> The County is required by state and federal laws and regulations to provide
<br /> adequate financial resources to pay for all closure and post closure care. The
<br /> I remaining portion of anticipated future inflation costs and additional costs that
<br /> might arise from changes in post closure requirements (due to changes in
<br /> technology or more rigorous environmental regulations, for example)may need
<br /> Ito be covered by charges to future landfill users, taxpayers, or both.11l.
<br /> 6. Activity and Debt Service Schedules
<br /> ILong-term liability activity for the year ended December 31, 2009,was as follows:
<br /> Balance Balance
<br /> I January,1, December 31, Due Within
<br /> 2009 Additions (Reductions) 2009 One Year
<br /> Capital lease $ 20,561 - (20,561) - -
<br /> I General Obligation Bonds,Series 2008 6,025,366 2,898 - 6,028,264 325,000
<br /> Notes payable 9,595,000 (943) 9,594,057 391,128
<br /> Accrued compensated absences 365,711 47,322 - 413,033 -
<br /> I Landfill closure costs 174,467
<br /> $ 16,181,105 50,220- (6,376) 168,091
<br /> Total (27,880) 16,203,445 716,128
<br /> I Aggregate annual debt service requirements at December 31, 2009, are as
<br /> follows:
<br /> I Principal Interest Total
<br /> 716,128 452,526 1,168,654
<br /> 2011 744,950 440,454 1,185,404
<br /> 2012 763,949 420,242 1,184,191
<br /> I 2013 793,150 398,616 1,191,766
<br /> 2014 802,559 376,082 1,178,641
<br /> 2015-2019 4,441,497 1,492,395 5,933,892
<br /> 1 2020-2024
<br /> 2025-2029 4,630,566 718,253 5,348,819
<br /> 2,706,258 178,780 2,885,038
<br /> 15,599,057 4,477,348 20,076,405
<br /> I Add:Deferred amounts
<br /> Premium on bonds 29,728
<br /> Unaccreted interest (6,464)
<br /> Total Debt $ 15,622,321
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