7 Del. Admin. Code § 1352-D-21.0
Letter from Chief Financial Officer
I am the Chief Financial Officer of [name and address of the Owner or Operator or Guarantor]. This letter is in support of the use of ["the financial test of Self-Insurance" and/or "guarantee"] to demonstrate financial responsibility for ["taking Corrective Action" and/or "compensating third parties for Bodily Injury and Property Damage"] caused by ["sudden Accidental Releases and/or "non-sudden Accidental Releases"] in the amount of at least [dollar amount] per Occurrence and [dollar amount] Annual Aggregate arising from operating (an) aboveground storage tank(s) (AST).
ASTs at the following facilities are assured by this financial test by this ["Owner or Operator" and/or "Guarantor"].
List for each Facility: the name and address of the Facility where ASTs assured by this Financial Test are located, and indicate which ASTs are assured by this Financial Test. List each AST by the AST identification number provided in the registration form submitted pursuant to PART A of this regulation.
AST Facility I.D. Number: ____________________ (as listed on DNREC registration certificate)
Facility Name: ______________________________________________________________
Facility Street: ______________________________________________________________
Facility City: _____________________________________ Facility Zip Code: ____________
A ["financial test," and/or "guarantee"] is also used by ["Owner" or "Operator" or "Guarantor"] to demonstrate evidence of financial responsibility in the following amounts under other EPA regulations or State programs including but not limited to Subtitle C Hazardous Waste Facilities, SDWA Class I Hazardous Waste Injection Wells and aggregate UST and AST coverage.
Amount
Closure ........................ ........................................ ________
Post-Closure Care ................................................ ________
Liability Coverage ..................... ........................... ________
Corrective Action ............. ....................................... ________
Plugging and Abandonment ........ ............................ ________
Other ............................................................. ________
TOTAL ________
This ["Owner or Operator," or "Guarantor"] has not received an adverse opinion, a disclaimer of opinion, or a "going concern" qualification from an independent auditor on his financial statements for the latest completed fiscal year.
I hereby certify that the wording of this letter is identical to the wording specified in PART D, subsection 5.1 as the Delaware Regulations Governing Aboveground Storage Tanks were constituted on the date shown immediately below.
(Signature) _______________________________________________________________
(Name) _______________________________________________________________
(Title) _______________________________________________________________
(Date) _______________________________________________________________
[Fill in the information for Alternative I if the criteria of PART D, subsection 5.1.2 are being used to demonstrate compliance with the financial test requirements. Fill in the information for Alternative II if the criteria of PART D, subsection 5.1.3 are being used to demonstrate compliance with the financial test requirements.]
Alternative I
(This includes but is not limited to Subtitle C Hazardous Waste Facilities, SDWA Class I Hazardous
Waste Injection Wells and aggregate UST or AST coverage)................................................... $__________
(if any of the amount reported on line 3 is included in total liabilities, you may deduct that amount from this line and add that amount to line 6)
(Tangible Net Worth at least $10 million)
(Tangible Net Worth 10X's the sum of other environmental obligations)
*If the answer to line 7 or line 8 is "No", this test cannot be used to meet the AST Financial Responsibility requirements.
Complete Lines 9-11 OR Line 12
(Answer "Yes" only if both criteria have been met.)
(Answer "Yes" only if all criteria have been met.)
Alternative II
(This includes but is not limited to Subtitle C Hazardous Waste Facilities, SDWA Class I Hazardous Waste Injection Wells and aggregate UST or AST coverage) ..................................................... $___________
(if any of the amount reported on line 3 is included in total liabilities, you may deduct that amount from this line and add that amount to line 6):.................................................................................. $___________
(Tangible Net Worth at least $10 million)
(Tangible Net Worth 6 times other environmental obligations)
*If the answer to line 8 or line 9 is "No", this test cannot be used to meet the AST Financial Responsibility requirements.
(If "No," complete line 11)
(U.S. assets at least six times the required amount of AST coverage plus other environmental liabilities) .................................................................................................................................. c Yes c No
(Complete Lines 12-15ORLines 16-18)
-OR-
**(If "No," please attach a report from an independent certified public accountant certifying that there are no material differences between the data as reported in lines 4-18 above and the financial statements for the latest fiscal year.)
Answer "Yes" only if both criteria have been met).............................................................................. c Yes c No
7 Del. Admin. Code § 1352-D-21.0
27 DE Reg. 536 (1/1/2024) (Final)