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Solid Waste Cost Estimates

Owners or operators of solid waste facilities requiring closing and/or long-term care financial assurance shall annually adjust their facility closure cost estimates for inflation and submit updated information to the department. Most permittees must follow Rule 62‑701.630(4), Florida Administrative Code (F.A.C.). See special notes below for used oil and waste tire facilities.

 

Rule 62-701.630(4), F.A.C., estimate submission requirements

  • Form 62-701.900(28) - Closure Cost Estimating Form for Solid Waste Facilities.
    • See guidance document on form page. Contact your permitting office for additional assistance.
  • Annual cost estimate adjustments may be made either by recalculating the maximum cost of closure in current dollars or by using the current year inflation factor.
  • For owners or operators using a Landfill Management Escrow Account to demonstrate financial assurance, cost estimates must be submitted between July 1 and Sept. 1 of each year.
  • For owners or operators using an alternate financial mechanism to demonstrate financial assurance, cost estimates must be submitted between Jan. 1 and March 1 of each year.
  • Please submit Form 62-701.900(28) to the appropriate permitting office (for review/approval) with a copy to the Financial Assurance Working Group (or Solid Waste Financial Coordinator):

By email: Financial.Assurance.Working.Group@FloridaDEP.gov or Solid.Waste.Financial.Coordinator@FloridaDEP.gov

or by mail:

Financial Assurance Working Group
Florida Department of Environmental Protection
2600 Blair Stone Road, MS 4548
Tallahassee, FL 32399-2400

 

Calculation of the Inflation Factor

  • The annual inflation factor is derived from the most recent Implicit Price Deflator for Gross National Product published by the U.S. Department of Commerce in its Survey of Current Business, pursuant to Rule 62-701.630(4)(a)(2), F.A.C.
  • To calculate the current inflation factor, divide the latest published annual Deflator by the Deflator for the previous year.
  • Implicit Price Deflator data is published by the U.S. Department of Commerce, Bureau of Economic Analysis on its website.
  • The data necessary to calculate the inflation factor is released by the U.S. Department of Commerce at the end of March. Therefore, it is appropriate to use the previous year's factor when inflation adjusting cost estimates due between Jan. 1 and March 1.
  • We recommend (and allow) the use of the inflation factor we calculate when annual deflators are first published for a 'new year' on or about April 1. As deflators, including previous year’s deflators, are revised several times a year, the inflation factor we publish in April is occasionally slightly different from what would be calculated later. (We now round up only when the fourth decimal is 9.)
  • The annual deflators used to calculate the latest inflation factor are dated March 31, 2022, and are 118.349 (for 2021) and 113.636 (for 2020).

 

Current Year Inflation Factors

Inflation Factor Estimate Due Time Frames
1.012 Estimates due between Jan. 1 and March 1, 2022
1.041 Estimates due between July 1 and Sept. 1, 2022

 

Recent Inflation Factors

New Cost Estimate’s Year Inflation Factor for Estimates Due Between Jan. 1 and March 1
Inflation Factor for Estimates Due Between July 1 and Sept. 1
2007 1.030 1.030
2008 1.030 1.025
2009 1.025 1.020
2010 1.020 1.010
2011 1.010 1.010
2012 1.010 1.020
2013 1.020 1.017
2014 1.017 1.015
2015 1.015 1.014
2016 1.014 1.009
2017 1.009 1.013
2018 1.013 1.018
2019 1.018 1.022
2020 1.022 1.017
2021 1.017 1.012
2022 1.012 1.041

 

Special Notes

Used Oil Facility

Waste Tire Facility

  • Owners or operators do not have a DEP cost estimate form. Rule 62-711.500(3), F.A.C., requires recalculated cost estimates 60 days prior to the anniversary date of their financial assurance instrument. The facility list includes these dates.
  • Waste Tires.

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Last Modified:
April 14, 2022 - 2:22pm

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