Oneida-Herkimer Solid Waste Management Authority

Notes to Financial Statements

December 31, 2022 and 2021

Note 1 - Organization and Summary of Significant Accounting Policies - Continued

j. Accrued Closure and Post-Closure Monitoring Costs - Continued k. Tax Status l. Subsequent Events

In compliance with NYSDEC requirements, $3,957,224 and $4,155,381 in certificates of deposit and U.S. Agency securities have been restricted by the Authority for this purpose at December 31, 2022 and 2021, respectively.

The Authority is exempt from federal, state, and local income taxes.

The Authority has evaluated subsequent events for potential recognition or disclosure through March 8, 2023 the date the financial statements were available to be issued.

Note 2 - Restricted Assets

In accordance with the terms of the Authority’s bond indentures and requirements set by the NYSDEC, the use of certain Authority assets is restricted for specific purposes as summarized below:

Note 3 - Investments

Fair value of the Authority’s investments and related maturities at December 31, 2022 and 2021 is as follows: