Section R18-12-614. Financial Documents for Determining Financial Need Priority Ranking Points

A.      Request For Financial Need Evaluation. An eligible person may request scoring and priority ranking on the basis of finan- cial need. If the eligible person requests priority ranking points for financial need, the eligible person shall submit a balance sheet that meets the requirements of subsection (B). The bal-

ance sheet shall be attached to a form provided by the Depart- ment. The form shall include all of the following:

1.        Identification of the name, address, and contact person of the eligible person requesting the financial need evalua- tion;

2.        Department-assigned LUST, application, and direct pay- ment request numbers for all of the eligible person’s applications and direct payment requests that are under review;

3.        Total current assets of the eligible person;

4.        Total current liabilities of the eligible person;

5.        Tangible net worth of the eligible person;

6.        If the eligible person is a non profit or not-for-profit entity recognized in accordance with A.R.S. Title 10, or a local government, total year end reserved and designated fund balance and unreserved and undesignated fund bal- ance; and

7.        A notarized statement with the original signature of the eligible person certifying that the information included in and attached to the form is true and correct to the eligible person’s best knowledge and belief.

B.       Balance Sheet. The eligible person shall attach to the form described in subsection (A), a balance sheet of the eligible per- son that meets the requirements of this subsection. The bal- ance sheet, including all prepared notes and schedules to the balance sheet, shall be prepared using the accrual method of accounting and meet all of the following requirements:

1.        The balance sheet shall be dated no earlier than 18 months before the date of the ranking period under R18- 12-612(B);

2.        The balance sheet shall indicate current assets, total assets, current liabilities, total liabilities, total intangible assets, current year-end net worth and, if the eligible per- son is a non profit or not-for-profit entity recognized in accordance with A.R.S. Title 10, or a local government, total year-end reserved and designated fund balances and unreserved and undesignated fund balances;

3.        For owners and operators, the balance sheet shall include the owner’s or operator’s corrective action liabilities at all of the owner’s or operator’s underground storage tank sites subject to regulation by the Department. Corrective action costs incurred and approved for payment from the assurance account, but not paid as of the date of prepara- tion of the balance sheet shall not be included in the owner’s or operator’s current liabilities; and

4.        The balance sheet shall be prepared by an independent public accountant that is not affiliated with the eligible person, unless the eligible person is a local government submitting the latest Comprehensive Annual Financial Report.

Historical Note

New Section made by final rulemaking at 12 A.A.R.

1611, effective June 4, 2006 (Supp. 06-2).