Code of Massachusetts Regulations › 220 CMR - DEPARTMENT OF PUBLIC UTILITIES › Title 220 CMR 50.00 - Uniform System Of Accounts For Gas Companies › BALANCE SHEET ACCOUNTS ASSETS AND OTHER DEBITS › 3 - CURRENT AND ACCRUED ASSETS › Section 163 - Stores Expense

Current through Register 1525, July 5, 2024
A. This account
		    shall include the cost of supervision, labor and expenses incurred in the
		    operation of general storerooms, including purchasing, storage, handling and
		    distribution of materials and supplies.
B. This account shall be cleared by adding to
		    the cost of materials and supplies issued a suitable loading charge which will
		    distribute the expense equitably over store issues. The balance in the account
		    at the close of the year shall not exceed the amount of stores expenses
		    reasonably attributable to the inventory of materials and supplies exclusive of
		    fuel, as any amount applicable to fuel costs should be included in account 152,
		    Fuel Stock Expenses.
ITEMS
Labor:
1.
		    Inspecting and testing materials and supplies when not assignable to specific
		    items.
2. Unloading from shipping
		    facility and putting in storage.
3.
		    Supervision of purchasing and stores department to extent assignable to
		    materials handled through stores.
4. Getting materials from stock and in
		    readiness to go out.
5.
		    Inventorying stock received or stock on hand by stores employees but not
		    including inventories by general department employees as part of internal or
		    general audits.
6. Purchasing
		    department activities in checking material needs, investigating sources of
		    supply, analyzing prices, preparing and placing orders, and related activities
		    to extent applicable to materials handled through stores. (Optional: Purchasing
		    department expenses may be included in administrative and general
		    expenses.)
7. Maintaining stores
		    equipment.
8. Cleaning and tidying
		    storerooms and stores offices.
9.
		    Keeping stock records, including recording and posting of material receipts and
		    issues and maintaining inventory record of stock.
10. Collecting and handling scrap materials
		    in stores.
Supplies and Expenses:
11. Adjustments of inventories of materials
		    and supplies but not including large differences which can readily be assigned
		    to important classes of materials and equitably distributed among the accounts
		    to which such classes of materials have been charged since the previous
		    inventory.
12. Cash and other
		    discounts not practically assignable to specific materials.
13. Freight, express, etc., when not
		    assignable to specific items.
14.
		    Heat, light and power for storerooms and store offices.
15. Brooms, brushes, sweeping compounds and
		    other supplies used in cleaning and tidying storerooms and stores
		    offices.
16. Injuries and
		    damages.
17. Insurance on materials
		    and supplies and on stores equipment.
18. Losses due to breakage, leakage,
		    evaporation, fire or other causes, less credits for amounts received from
		    insurance, transportation companies or others in compensation of such
		    losses.
19. Postage, printing,
		    stationery and office supplies.
20.
		    Rent of storage space and facilities.
21. Communication service.
22. Excise and other similar taxes not
		    assignable to specific materials.
23. Transportation expense on inward movement
		    of stores except when charged to particular material to which they relate and
		    on transfer between storerooms but not including charges on materials recovered
		    from retirements which shall be accounted for as part of cost of
		    removal.
A physical inventory of each class of materials and
			   supplies shall be made at least every two years.