As a part of the annual report, each operator shall submit a revised estimate of financial assurances for the following year. Financial assurances may be adjusted annually by the Director to account for any of the following factors:
(a) The addition of new permitted lands to be mined in the following year;
(b) Previously mined lands which have been completely reclaimed in accordance with the approved reclamation plan; and,
(c) The increased labor and/or material costs of reclamation. Any decision to either increase or decrease financial assurances shall become final within fifteen (15) days, unless appealed to the Planning Commission within that fifteen (15)- day period, as provided in Article 11 of this chapter. The review of existing financial assurances shall not be considered a project within the meaning of CEQA, pursuant to the exemption granted under Section 2770(c) of the Act. (§ 1, Ord. 1191, eff. September 5, 1996, as amended by § 2, Ord. 1407, eff. April 28, 2011)