March Section News

The AACE Upcountry South Carolina Section will hold their sixth monthly meeting of the season on Tuesday, March 9th, 2010 at the Day & Zimmermann office in Greenville.

Mr. Larry Philbin is a principal engineer in the Quality and Performance Support Group.

Larry’s presentation will focus on how they use Palisades Decision Tools - @RISK software program to evaluate the utility company’s asset retirement obligation. In 2003 the Federal Accounting Standards Board (FASB) enacted a requirement for formally determining and booking current liabilities for future retirement of hazardous waste treatment, storage and disposal assets (such as an ash pond). These retirements involve numerous uncertainties such as timelines, labor and material costs, cost of capital, inflation rate assumptions, and market risk, and thus are good candidates for simulation-based risk assessment tools. Simulation models and results from an actual application will be shown.

We look forward to seeing you! We will also be serving a light meal plus a variety of soft drinks.

Please RSVP to Becky Spencer later than Monday, March 8th by 5 PM via e-mail beckyrspencer@aol.com. She can also be reached at 864-494-3019. The cost of the meeting and food is only $20. If you are unemployed the cost is free.