GASB requires governments to report a liability for obligations to remedy existing pollution. This standard focuses on obligations that meet both of the following criteria:

  1. The obligation is for remediation activities such as cleanup and contamination removal. It does not include outlays incurred to prevent or control pollution.
  2. The obligation is for existing conditions where an obligating event has already occurred. OFR has developed the questionnaire below to assist in determining whether your agency has incurred an obligating event requiring recognition of a remediation liability for this fiscal year.

 

This questionnaire is due July 17, 2023.
1. Does your agency know or reasonably believe that you have a polluted or contaminated site?
2. Has the agency been involved in any lawsuit or administrative action requiring environmental assessment, remediation, or cleanup?
3. Does your agency handle hazardous wastes or hazardous materials?
4. The following are indicators of an obligating event. Has your agency engaged in any obligating events that would result in a liability?
If yes, please check all that apply:
5. Does the agency hold any environmental permits or licenses?
If yes, is the agency in violation of a pollution-related permit or license?
6. Is the agency aware of any environmental contaminates that created an imminent endangerment to the public health, welfare or environment?

Remember to print before submitting.

 

MS Department of Finance and Administration
Office of Financial Reporting
POST OFFICE BOX 1060 * Jackson, Mississippi 39215-1060 * TEL: 601-359-2160 * FAX: 601-359-3896