The Town of Sitka opened a solid waste landfill in 2020 that was at 25% capacity on December 31, 2020 and at 60% capacity on December 31, 2021. The city initially anticipated closure costs of $2.8 million but in 2021 revised the estimate of the closure costs to be $3.2 million. None of these costs will be incurred until the landfill is scheduled to be closed.Assuming the landfill is recorded within the General Fund, how would the landfill information be represented in the governmental fund financial statements at December 31, 2021?

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The Answer of The Town of Sitka opened a solid waste landfill in 2020 that was at 25% capacity on December 31, 2020 and at 60% capacity on December 31, 2021. The city initially anticipated closure costs of $2.8 million but in 2021 revised the estimate of the closure costs to be $3.2 million. None of these costs will be incurred until the landfill is scheduled to be closed.Assuming the landfill is recorded within the General Fund, how would the landfill information be represented in the governmental fund financial statements at December 31, 2021?

The Town of Sitka Opened a Solid Waste Landfill in 2020