CONNECTICUT RESOURCES RECOVERY AUTHORITY
Wallineford Proiect Fund and ResellJe Balances as ofJune 30, 2008: Balance:
~
Fund:
Project's operating account To cover costs associated with 30 years ofpost-c1osure Unrestricted monitoring and maintenance as required by DEP
Operating Fund
$ 18,304,015.00
Wallingford Landfill Postc1osure
$ 7,410,303.00
Risk Fund
$ 1,047,107.00 Unrestricted, Board Designated
Future Use Fund
$ 9,996,165.00 Unrestricted, Board Designated
Tip Fee Stabilization Fund
$ 15,915,350.00
Restricted
Trustee: DEP Trust Wallingford Landfill
$
151,675.82
Restricted
Trustee: Revenue Fund
$ 1,381,858.92
Restricted
Trustee: 1998 Debt Service Reserve Fund
$ 2,020,788.35
Restricted
Trustee: 1998 Principal Account
$ 3,147,806.90
Restricted
Trustee: 1998 Interest Account
$
32,754.98
Restricted
Trustee: 1998 Rebate Account
$
125,403.27
PUffiose:
Unrestricted
To protect project against catastrophic losses
To cover costs associated with the termination of the
existing project, extending the existing project or
developing post-20 I 0 strategies for project towns Cash in this fund will stabilize tip fees when power sales price drops at end of current power purchase closed after DEP issues a final closure permit for the landfill Internal repository for all cash flow -- money from this fund t10ws to bond payments, contractors and CRRA Funds are used to pay principal and interest on project bonds.
Should bond proceeds on deposit earn more than the bonds' coupon, CRRA would be liable to the IRS for that :>111\;<1d Restricted ,