Financial Test: Sample CFO and CPA Letters (Alternative Tests 1 and 2) - Settlements
FA FT CFO and CPA Letters-Settlements (.Doc/.Docx, 16 pp, 37 K)
Model Information
04/06/2015
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CERCLA financial test sample Chief Financial Officer (CFO) letters and Certified Public Accountant (CPA) reports for alternative financial tests 1 and 2 for use as a financial assurance mechanism in a CERCLA settlement agreement. In general, through financial test submissions, potentially responsible parties (PRPs) demonstrate their ability to complete required cleanup work by satisfying financial criteria and reporting requirements specified in the settlement. To do so, PRPs must submit the following: (1) a letter from their CFO detailing and certifying the PRPs’ satisfaction of the applicable financial test; and (2) a report from an independent CPA confirming data and conclusions in the CFO’s letter.
Supporting Documents
Issuance of CERCLA Financial Assurance Guidance, Updated and New Sample Mechanisms, and Model Language Provisions for Unilateral Administrative Orders
Date: 04/06/2015
Includes information relating to FA mechanisms that may be available to PRPs to satisfy their FA obligations under settlements and orders for remedial and removal actions.