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(ii) amounts reserved by the County for funding of post closure maintenance and <br /> monitoring with respect to components of the Waste Infrastructure System; <br /> (iii) reserves established to protect the Waste Infrastructure System against the adverse <br /> financial impact of potential decreases in waste deliveries pursuant to Section 4.2(B); <br /> (iv) amounts reserved to pay the costs of capital improvements with respect to the Waste <br /> Infrastructure System; <br /> (v) amounts funded from revenues during the early years of the term of the Agreement <br /> reserved to enable the County to provide disposal services for the Contract Rate during the later years of the Agreement; <br /> (vi) amounts temporarily held by the County prior to payment to the State or other <br /> Governmental Bodies pursuant to Applicable Law(including any fees or charges payable to CalRecycle); <br /> (vii) reserves required to meet bond covenants pursuant to financing agreements for <br /> Waste Infrastructure System assets to the extent such amounts must be legally separate and distinct from other reserves <br /> identified in this Section; <br /> (viii) security deposits from landfill deferred payment program users; <br /> (ix) amounts held by the County in the Environmental Fund(provided, however, that <br /> such amounts in the Environmental Fund will be made available and used by the County if required to pay costs relating <br /> to environmental remediation or other related costs); <br /> (x) AB 939 surcharges; <br /> (xi) amounts held by the County in the Corrective Action Fund held pursuant to CCR <br /> Title 27 to demonstrate financial assurance to pay for potential groundwater contamination;and <br /> (xii) an amount equal to three(3)months of budgeted expenses for the Disposal System <br /> for the current fiscal year,representing working capital of the Disposal System. <br /> SECTION 4.6 AUDITED FINANCIAL STATEMENTS.The County shall annually,on or before January 1 <br /> each year, prepare or cause to be prepared and have on file for inspection an annual report for the preceding Contract <br /> Year,accompanied by a certificate of an independent public accountant or of the County Auditor and Controller as to <br /> the examination of the financial statements therein (describing such statements as fairly presenting the information <br /> therein in conformity with generally accepted accounting principles) relating to the Waste Infrastructure System, <br /> services, and the fiscal activities of the OC Waste Disposal Enterprise Fund, and including statements in reasonable <br /> detail of the financial condition of the OC Waste Disposal Enterprise Fund as of the end of the Contract Year and <br /> revenue and expenses for the Contract Year. <br /> SECTION 4.7 ANNUAL UPDATE OF TEN-YEAR FINANCIAL PROJECTION. The County shall <br /> annually,on or before May 1 of each year,prepare or cause to be prepared,an updated Ten-Year Financial Projection <br /> for the Waste Infrastructure System. Said Financial Projection shall include at least two full years of prior actual data <br /> and ten years of future projections including the following elements: <br /> 1. County Acceptable Waste, in tons; <br /> 2. Imported Acceptable Waste,in tons; <br /> 3. Revenues and expenditures; <br /> 4. Cash fund balances, including all monies in the County Solid Waste Enterprise <br /> Fund,with specific delineation of monies in the Environmental Fund,Restricted Reserves,Unrestricted Reserves,and <br /> all other funds of the System;and <br /> 5. Projected liabilities for closure and post closure as well as reasonable reserves for <br />