Calculations

A picture of a pile of money Updates should include approved cost estimates for inflation. To update cost estimates to current dollar values, multiply the "old" dollar value by the multiplier given for the year that the cost estimate was submitted.

For example, $1,000,000 from 1993 is now worth:

$1,000,000 (1993)  X   113.97   =  $(1999)
                                              102.63                              

           or

$1,000,000 (1993) x  1.11049400760 = $1,110,494.02 (1997)

Please use as many significant digits as the cost estimate gives.

Reference 10 CSR 80-2.030(4)(B) 3.D.:
The closure and post-closure care cost estimates shall be adjusted every year by the permittee based upon the actual rate of inflation for the preceding year. The adjusted cost estimates shall be submitted to the department for review every year after the date of permit issuance. The rate of inflation used for this purpose is the latest percent change in the Implicit Price Deflator for the Gross Domestic Product as determined by the United States Department of Commerce.