reglab/statecodes huggingface dataset:
New York Codes, Rules and Regulations › Title 16 - DEPARTMENT OF PUBLIC SERVICE › Chapter V - WATERWORKS CORPORATIONS › Subchapter E - Uniform Systems Of Accounts › Article 1 - Classes A and B › Part 560 - General Provisions › Section 560.2 - Abstracts from law

Current through Register Vol. 46, No. 28, July 10, 2024
(a) Authority for
					 uniform system of accounts. This uniform system of accounts for waterworks
					 corporations is established and issued by the Public Service Commission under
					 the following provision of the Public Service Law (chapter 48 of the
					 Consolidated Laws):
"Section 89-c, subdivision 3. The commission shall have
						power, in its discretion, to prescribe uniform methods of keeping accounts,
						records and books to be observed by waterworks corporations. It may also, in
						its discretion, prescribe by order forms of accounts, records and memoranda to
						be kept by such corporations. Notice of alterations by the commission in the
						required method or form of keeping a system of accounts shall be given to such
						corporations by the commission at least six months before the same shall take
						effect. Any other and additional forms of accounts, records and memoranda kept
						by such corporations shall be subject to examination by the commission."
(b) Definition of waterworks
					 corporation.
"Section 2, subdivision 27. The term "waterworks
						corporation," when used in this Chapter includes every corporation, company,
						association, joint stock association, partnership and person, their lessees,
						trustees or receivers, appointed by any court whatsoever, owning, operating or
						managing any water plant or waterworks, except where water is distributed
						solely on or through private property solely for the use of the distributor or
						its tenants and not for sale to others. With respect to waterworks corporations
						having a property value of $30,000 or less, only the provisions of this Chapter
						relating to the regulation of water rates shall apply."
"Section 5-b. Corporations formed to acquire
					 property or to transact business which would be subject to the provisions of
					 this Chapter, and corporations possessing franchises for any of the purposes
					 contempleted by this Chapter, shall be deemed to be subject to the provisions
					 of this Chapter although no property may have been acquired, business
					 transacted or franchises exercised."
New York Codes, Rules and Regulations › Title 16 - DEPARTMENT OF PUBLIC SERVICE › Chapter V - WATERWORKS CORPORATIONS › Subchapter E - Uniform Systems Of Accounts › Article 1 - Classes A and B › Part 561 - Instructions-general › Section 561.1 - Classification of utilities

Current through Register Vol. 46, No. 28, July 10, 2024
(a) For
					 the purpose of applying systems of accounts prescribed by the commission, water
					 utilities are divided into four classes, as follows:
Class A. Utilities having annual water operating revenues
						of $1,000,000 or more.
Class B. Utilities having annual water operating revenues
						of $700,000 or more but less than $1,000,000.
Class C. Utilities having annual water operating revenues
						of $400,000 or more but less than $700,000.
Class D. Utilities having annual water operating revenues
						of $100,000 or more but less than $400,000.
(b) This system of accounts applies to Class
					 A and B utilities. Those applicable to Class C and Class D utilities are issued
					 separately.
(c) The class to which
					 any utility belongs shall originally be determined by the average of its annual
					 water operating revenues for the last three consecutive years. Subsequent
					 changes in classification shall be made when the annual water operating
					 revenues for each of the three immediately preceding years shall exceed the
					 upper limit, or be less than the lower limit, of the annual water operating
					 revenues of the classification previously applicable to the utility.
(d) Any utility may, at its option, adopt the
					 system of accounts prescribed by the commission for any larger class of
					 utilities. Notice of such action shall be promptly filed with the
					 commission.
New York Codes, Rules and Regulations › Title 16 - DEPARTMENT OF PUBLIC SERVICE › Chapter V - WATERWORKS CORPORATIONS › Subchapter E - Uniform Systems Of Accounts › Article 1 - Classes A and B › Part 561 - Instructions-general › Section 561.2 - Records

Current through Register Vol. 46, No. 28, July 10, 2024
(a) Each utility
					 shall keep its books of account and all other books, records, and memoranda
					 which support the entries in such books of account so as to be able to furnish
					 readily full information as to any item included in any account. Each entry
					 shall be supported by such detailed information as will permit ready
					 identification, analysis, and verification of all facts relevant
					 thereto.
(b) The books and records
					 referred to herein include not only accounting records in a limited technical
					 sense, but all other records, such as minute books, stock books, reports,
					 correspondence, memoranda, etc., which may be useful in developing the history
					 of or facts regarding any transaction. All such records shall be accessible, at
					 all times, to the authorized representatives of the commission at a location
					 within the State of New York, unless the company is specifically exempted by
					 order of this commission.
(c) No
					 utility shall destroy any such books or records unless the destruction thereof
					 is permitted by rules and regulations of the commission.
(d) In addition to prescribed accounts,
					 clearing accounts, temporary or experimental accounts, and subdivisions of any
					 account, may be kept, provided the integrity of the prescribed accounts is not
					 impaired.
(e) All amounts included
					 in the accounts prescribed herein for water plant and operating expenses shall
					 be just and reasonable and any payments or accruals by the utility in excess of
					 just and reasonable charges shall be included in account 426, Miscellaneous
					 Income Deductions.
(f) The
					 arrangement or sequence of the accounts prescribed herein shall not be
					 controlling as to the arrangement or sequence in report forms which may be
					 prescribed by the commission.
(g)
					 Not later than March 31, 1974, each utility shall have filed with the
					 commission a copy of its manual of accounts, or other systematic statement of
					 accounts showing every account or subaccount kept during the year 1973, and
					 thereafter shall file (either as changes occur, or for each calendar year at a
					 date not later than the filing of its annual report) a statement of each
					 account, subaccount, and clearing account opened or discontinued and the
					 effective date of such change. For each clearing account opened, the purpose of
					 the account shall be stated.
New York Codes, Rules and Regulations › Title 16 - DEPARTMENT OF PUBLIC SERVICE › Chapter V - WATERWORKS CORPORATIONS › Subchapter E - Uniform Systems Of Accounts › Article 1 - Classes A and B › Part 561 - Instructions-general › Section 561.3 - Numbering system

Current through Register Vol. 46, No. 28, July 10, 2024
(a) The account
					 numbering scheme used herein consists of a system of three-digit whole numbers
					 as follows:
Assets and Other Debits.
Liabilities and Other Credits.
Plant Accounts.
Income Accounts.
Retained Earnings Accounts.
Revenue Accounts.
Production, Transmission and Distribution
						Expenses.
Customer Accounts, Sales and General Administrative
						Expenses.
(b) In certain
					 instances, numbers have been skipped in order to allow for possible later
					 expansion or to permit better coordination with the numbering system for other
					 utility departments.
(c) The
					 numbers prefixed to account titles are to be considered as part of the titles.
					 Each utility, however, may adopt for its own purposes a different system of
					 account numbers (see also general instruction 561.2, subd. [d]) provided that
					 the numbers herein prescribed shall appear in the descriptive headings of the
					 ledger accounts and in the various sources of original entry; however, if a
					 utilty used a different group of account numbers and it is not practicable to
					 show the prescribed account numbers in the various sources of original entry,
					 such reference to the prescribed account numbers may be omitted from the
					 various sources of original entry. Moreover, each utility using different
					 account numbers for its own purposes shall keep readily available a list of
					 such account numbers which it uses and a reconciliation of such account numbers
					 with the account numbers provided herein. It is intended that the utility's
					 records shall be so kept to permit ready analysis by prescribed accounts (by
					 direct reference to sources of original entry to the extent practicable) and to
					 permit preparation of financial and operating statements directly from such
					 records at the end of each accounting period according to the prescribed
					 accounts.
New York Codes, Rules and Regulations › Title 16 - DEPARTMENT OF PUBLIC SERVICE › Chapter V - WATERWORKS CORPORATIONS › Subchapter E - Uniform Systems Of Accounts › Article 1 - Classes A and B › Part 561 - Instructions-general › Section 561.4 - Accounting period

Current through Register Vol. 46, No. 28, July 10, 2024
Each utility shall keep its books on a monthly basis so
						that for each month all transactions applicable thereto, as nearly as may be
						ascertained, shall be entered in the books of the utility. Amounts applicable
						or assignable to specific utility departments shall be so segregated monthly.
						Each utility shall close its books at the end of each calendar year unless
						otherwise authorized by the commission.
New York Codes, Rules and Regulations › Title 16 - DEPARTMENT OF PUBLIC SERVICE › Chapter V - WATERWORKS CORPORATIONS › Subchapter E - Uniform Systems Of Accounts › Article 1 - Classes A and B › Part 561 - Instructions-general › Section 561.5 - Submission of questions

Current through Register Vol. 46, No. 28, July 10, 2024
To maintain uniformity of accounting, utilities shall
						submit questions of doubtful interpretaton to the commission for consideration
						and decision.
New York Codes, Rules and Regulations › Title 16 - DEPARTMENT OF PUBLIC SERVICE › Chapter V - WATERWORKS CORPORATIONS › Subchapter E - Uniform Systems Of Accounts › Article 1 - Classes A and B › Part 561 - Instructions-general › Section 561.6 - Item lists

Current through Register Vol. 46, No. 28, July 10, 2024
Lists of "items" appearing in the texts of the accounts
						or elsewhere herein are for the purpose of more clearly indicating the
						application of the prescribed accounting. The lists are intended to be
						representative, but not exhaustive. The appearance of an item in a list
						warrants the inclusion of the item in the account mentioned only when the text
						of the account also indicates inclusion inasmuch as the same item frequently
						appears in more than one list. The proper entry in each instance must be
						determined by the texts of the accounts.
New York Codes, Rules and Regulations › Title 16 - DEPARTMENT OF PUBLIC SERVICE › Chapter V - WATERWORKS CORPORATIONS › Subchapter E - Uniform Systems Of Accounts › Article 1 - Classes A and B › Part 561 - Instructions-general › Section 561.7 - Extraordinary items

Current through Register Vol. 46, No. 28, July 10, 2024
It is the intent that net income shall reflect all items
						of profit and loss during the period with the sole exception of prior period
						adjustments as described in section
						561.8. Those
						items related to the effects of events and transactions which have occurred
						during the current period and which are not typical or customary business
						activities of the company shall be considered extraordinary items. Accordingly,
						they will be events and transactions of significant effect which would not be
						expected to recur frequently and which would not be considered as recurring
						factors in any evaluation of the ordinary operating processes of business. (In
						determining significance, items of a similar nature should be considered in the
						aggregate. Dissimilar items should be considered individually; however, if they
						are few in number, they may be considered in the aggregate.) To be considered
						as extraordinary under the above guidelines, an item should be more than
						approximately five percent of income, computed before extraordinary items.
						Commission approval must be obtained to treat an item of less than five
						percent, as extraordinary. (See accounts 434, Extraordinary Income, and 435,
						Extraordinary Deductions.)
New York Codes, Rules and Regulations › Title 16 - DEPARTMENT OF PUBLIC SERVICE › Chapter V - WATERWORKS CORPORATIONS › Subchapter E - Uniform Systems Of Accounts › Article 1 - Classes A and B › Part 561 - Instructions-general › Section 561.8 - Prior period items

Current through Register Vol. 46, No. 28, July 10, 2024
(a) As a
					 general rule, items relating to transactions which occurred prior to the
					 current calendar year but were not recorded in the books of account shall be
					 included in the same accounts in which they would have been recorded had the
					 item been recorded in the proper period. Such items relate to events or
					 transactions which occurred in a prior period or periods, the accounting
					 effects of which could not be determined with reasonable assurance at the time,
					 usually because of major uncertainty then existing. When the amount of a prior
					 period item is relatively so large its inclusion for a single month would
					 distort the accounts for that month, the amount may be distributed in equal
					 amounts to the accounts for the current and remaining months of the calendar
					 year. However, if the amount of any prior period item is so large that the
					 company believes its inclusion in the income statement would seriously distort
					 the net income for the year, the company may request commission approval to
					 record the amount in account 439, Adjustments to Retained Earnings. Such a
					 request must be accompanied by adequate justification.
(b) Treatment as prior period adjustments
					 should not be applied to the normal, recurring corrections and adjustments
					 which are the natural result of the use of estimates inherent in the accounting
					 process. For example, changes in the estimated remaining lives of fixed assets
					 affect the computed amounts of depreciation, but these changes should be
					 considered prospective in nature and not prior period adjustments. Similarly,
					 relatively insignificant adjustments of provisions for liabilities (including
					 income taxes) made in prior periods should be considered recurring items to be
					 reflected in operations of the current period. Some uncertainties, for example
					 those relating to the realization of assets (collectibility of accounts
					 receivable, ultimate recovery of deferred costs of realizability of inventories
					 or other assets), would not qualify for prior period adjustment treatment,
					 since economic events subsequent to the date of the financial statements must
					 of necessity enter into the elimination of any previously-existing uncertainty.
					 Therefore, the effects of such matters are considered to be elements in the
					 determination of net income for the period in which the uncertainty is
					 eliminated. (See account 439, Adjustments to Retained Earnings.)
New York Codes, Rules and Regulations › Title 16 - DEPARTMENT OF PUBLIC SERVICE › Chapter V - WATERWORKS CORPORATIONS › Subchapter E - Uniform Systems Of Accounts › Article 1 - Classes A and B › Part 561 - Instructions-general › Section 561.9 - Unaudited items

Current through Register Vol. 46, No. 28, July 10, 2024
Whenever a financial statement is required by the
						commission, if it is known that a transaction has occurred which affects the
						accounts but the amount involved in the transaction and its effect upon the
						accounts cannot be determined with absolute accuracy, the amount shall be
						estimated and such estimated amount included in the proper accounts. The
						utility is not required to anticipate minor items which would not appreciably
						affect the accounts.
New York Codes, Rules and Regulations › Title 16 - DEPARTMENT OF PUBLIC SERVICE › Chapter V - WATERWORKS CORPORATIONS › Subchapter E - Uniform Systems Of Accounts › Article 1 - Classes A and B › Part 561 - Instructions-general › Section 561.10 - Bases of distribution of pay and expenses of employees

Current through Register Vol. 46, No. 28, July 10, 2024
(a) The charges to water plant, operating
					 expenses and other accounts for services and expenses of employees engaged in
					 activities chargeable to various accounts, such as construction, maintenance,
					 and operations, shall be based upon the actual time engaged in the respective
					 classes of work or, in case that method is impracticable, upon the basis of a
					 study of the time actually engaged during a representative period.
(b) The pay and expenses of general officers
					 shall be charged to the actual work on which they are engaged, to the
					 particular operations over which they have direct supervision, or to the
					 appropriate accounts provided in the administrative and general group in
					 operating expenses.
(c) Salaries of
					 officers or employees and incidental expenses which can be distributed
					 equitably upon a predetermined basis may be distributed through clearing
					 accounts.
(d) Except as otherwise
					 specifically provided in this system of accounts or by order of the commission,
					 no amounts for salaries or wages shall be included in charges to water plant,
					 cost of removal, or water operating expenses, except account 926, Employee
					 Pensions and Benefits, which are not paid to the employees affected subject to
					 their free disposition. Payroll deductions made under a statute or order of a
					 court; or for such purposes as group insurance, purchase of appliances or
					 homes, etc., authorized by written order of the employee without coercion of
					 any kind, may be included.
New York Codes, Rules and Regulations › Title 16 - DEPARTMENT OF PUBLIC SERVICE › Chapter V - WATERWORKS CORPORATIONS › Subchapter E - Uniform Systems Of Accounts › Article 1 - Classes A and B › Part 561 - Instructions-general › Section 561.11 - Payroll distribution

Current through Register Vol. 46, No. 28, July 10, 2024
Underlying accounting data shall be maintained so that
						the distribution of the cost of labor charged direct to the various accounts
						will be readily available. Such underlying data shall permit a reasonably
						accurate distribution to be made of the cost of labor charged initially to
						clearing accounts so that the total labor cost may be classified among
						construction, cost of removal, water operating functions (source of supply,
						power, pumping, purification, transmission, distribution, etc.), and
						non-utility operations.
New York Codes, Rules and Regulations › Title 16 - DEPARTMENT OF PUBLIC SERVICE › Chapter V - WATERWORKS CORPORATIONS › Subchapter E - Uniform Systems Of Accounts › Article 1 - Classes A and B › Part 561 - Instructions-general › Section 561.12 - Operating reserves

Current through Register Vol. 46, No. 28, July 10, 2024
Accretions to operating reserve accounts made by charges
						to operating expenses shall not exceed a reasonable provision for the expense.
						Material balances in such reserve accounts shall not be diverted from the
						purpose for which provided unless the permission of the commission is first
						obtained.
New York Codes, Rules and Regulations › Title 16 - DEPARTMENT OF PUBLIC SERVICE › Chapter V - WATERWORKS CORPORATIONS › Subchapter E - Uniform Systems Of Accounts › Article 1 - Classes A and B › Part 561 - Instructions-general › Section 561.13 - Records for each plant and for territorial subdivisions

Current through Register Vol. 46, No. 28, July 10, 2024
(a) Unless otherwise authorized or directed
					 by the commission, each city, borough, village, or town and each water plant
					 shall constitute a cost area and separate records shall be maintained of the
					 book cost of water plant located therein. The term "plant" as here used means
					 each source of supply, each pumping station (small booster stations may be
					 grouped), each water treatment plant and the transmission and distribution
					 system in each city, borough, village, town or such other operating area as the
					 commission may require.
(b)
					 Operating revenues shall be recorded so that the amount for each city, borough,
					 village, town or other operating area required by the commission, may be
					 readily determined.
(c) Records
					 shall be currently maintained so that the utility will be prepared to show
					 operating revenue deductions separately for each city, borough, village, town,
					 or other operating area required by the commission, and for each water plant;
					 provided that, with the approval of the commission two or more such territories
					 which are contiguous and are operated as a unit, may be combined into an
					 accounting division.
(d) Records
					 shall be kept to show separately the accumulated provisions for depreciation
					 applicable to property in each accounting division.
New York Codes, Rules and Regulations › Title 16 - DEPARTMENT OF PUBLIC SERVICE › Chapter V - WATERWORKS CORPORATIONS › Subchapter E - Uniform Systems Of Accounts › Article 1 - Classes A and B › Part 561 - Instructions-general › Section 561.14 - Accounting for other departments

Current through Register Vol. 46, No. 28, July 10, 2024
If the utility also operates other departments, such as
						gas, electric, etc., it shall keep such accounts for the other departments as
						may be prescribed by proper authority and in the absence of prescribed
						accounts, it shall keep such accounts as are proper or necessary to reflect the
						results of operating each such department. It is not intended that proprietary
						and similar accounts which apply to the utility as a whole shall be
						departmentalized.
New York Codes, Rules and Regulations › Title 16 - DEPARTMENT OF PUBLIC SERVICE › Chapter V - WATERWORKS CORPORATIONS › Subchapter E - Uniform Systems Of Accounts › Article 1 - Classes A and B › Part 561 - Instructions-general › Section 561.15 - Transactions with associated companies

Current through Register Vol. 46, No. 28, July 10, 2024
(a) Each utility shall keep its accounts and
					 records so as to be able to furnish accurately and expeditiously statements of
					 all transactions with associated companies. The statements may be required to
					 show the general nature of the transactions, the amounts involved therein and
					 the amounts included in each account prescribed herein with respect to such
					 transactions. Transactions with associated companies shall be recorded in the
					 appropriate accounts for transactions of the same nature. Nothing herein
					 contained, however, shall be construed as restraining the utility from
					 subdividing accounts for the purpose of recording separately transactions with
					 associated companies.
(b) If a
					 clearing account is not maintained for each associated company in which all
					 gross charges by that company are entered and from which they are distributed,
					 all charges of any nature whatsoever by any associated company shall be
					 credited at the gross amounts involved to a subaccount for that company under
					 the appropriate subdivisions of accounts for Advances from Associated Companies
					 and Payables to Associated Companies, even though immediately transferred to an
					 account for capital stock, long-term debt, or other liability. In like manner,
					 in the absence of clearing accounts, all gross charges to any associated
					 company shall be debited to a subaccount for that company under the appropriate
					 subdivisions of accounts for Investments in Associated Companies and
					 Receivables from Associated Companies, even though immediately transferred to a
					 special deposit, special fund, other investment account, or other
					 asset.
(c) Dividends, rebates, or
					 earnings from associated companies or mutual service companies, representing
					 refunds of the excess charges made by such companies over the cost to them,
					 shall be debited to account 146, Accounts Receivable from Associated Companies,
					 and shall be credited so far as practicable to the same accounts to which the
					 corresponding charges were made, including proper distinction between
					 construction and operating expenses. Credits applicable to operating expenses,
					 where it is impracticable to allocate them among the accounts to which the
					 corresponding charges have been made shall be recorded in account 929,
					 Duplicate Charges-Credit.
New York Codes, Rules and Regulations › Title 16 - DEPARTMENT OF PUBLIC SERVICE › Chapter V - WATERWORKS CORPORATIONS › Subchapter E - Uniform Systems Of Accounts › Article 1 - Classes A and B › Part 561 - Instructions-general › Section 561.16 - Contingent assets and liabilities

Current through Register Vol. 46, No. 28, July 10, 2024
Contingent assets represent a possible source of value to
						the utility contingent upon the fulfillment of conditions regarded as
						uncertain. Contingent liabilities include items which may under certain
						conditions become obligations of the utility but which are neither direct nor
						assumed liabilities at the date of the balance sheet. The utility shall be
						prepared to give a complete statement of contingent assets and liabilities
						(including cumulative dividends on preference stock) in its annual report and
						at such other time as may be requested by the commission.
New York Codes, Rules and Regulations › Title 16 - DEPARTMENT OF PUBLIC SERVICE › Chapter V - WATERWORKS CORPORATIONS › Subchapter E - Uniform Systems Of Accounts › Article 1 - Classes A and B › Part 561 - Instructions-general › Section 561.17 - Employee pensions and benefits

Current through Register Vol. 46, No. 28, July 10, 2024
(a) All costs of employee pensions whether
					 such costs represent pensions payable currently to retired employees or their
					 beneficiaries, advance provision for such payments, or both, are includible in
					 the charges of each accounting period, provided:
(1) the pension program under which the costs
					 are determined is reasonable;
(2)
					 amounts paid are irrevocably dedicated to pension purposes;
(3) any program of advance provision is based
					 on actuarial studies or other recognized and acceptable systematic method of
					 computation and allocation.
New York Codes, Rules and Regulations › Title 16 - DEPARTMENT OF PUBLIC SERVICE › Chapter V - WATERWORKS CORPORATIONS › Subchapter E - Uniform Systems Of Accounts › Article 1 - Classes A and B › Part 561 - Instructions-general › Section 561.18 - Spreading of income, revenue, and expense items

Current through Register Vol. 46, No. 28, July 10, 2024
(a) When the amount of any unusual item
					 includible in an income, operating revenue, or operating expense account for a
					 single month is relatively so large that its inclusion in the accounts for that
					 month would seriously distort those accounts, it may be included in account
					 186, Miscellaneous Deferred Debits, or account 253, Other Deferred Credits, as
					 appropriate, and distributed in equal amounts to the accounts for the current
					 and remaining months of the calendar year.
(b) When the amount of any unusual item
					 includible in the income, operating revenue, or operating expense accounts is
					 relatively so large that its inclusion in the accounts for the year in which
					 the transaction occurred, would seriously distort those accounts, the company
					 may request permission to include all or a part of the amount in account 186,
					 Miscellaneous Deferred Debits, or account 253, Other Deferred Credits to be
					 amortized over such period and through such accounts as the commission shall
					 determine. Without permission of this commission no such items shall be carried
					 beyond the year in which the transaction occurred.
New York Codes, Rules and Regulations › Title 16 - DEPARTMENT OF PUBLIC SERVICE › Chapter V - WATERWORKS CORPORATIONS › Subchapter E - Uniform Systems Of Accounts › Article 1 - Classes A and B › Part 561 - Instructions-general › Section 561.19 - Allocation of costs between water plant and operating expenses to be made currently

Current through Register Vol. 46, No. 28, July 10, 2024
Each utility shall determine currently the costs which
						are applicable to the water plant accounts and in the case of costs involving
						allocation, the amount which is applicable to other accounts, such as operating
						expenses, taxes, retirement work in progress, other balance sheet accounts, and
						income accounts; the intent of this provision being that such costs shall be
						allocated to the accounts to which they are applicable when they are
						incurred.
New York Codes, Rules and Regulations › Title 16 - DEPARTMENT OF PUBLIC SERVICE › Chapter V - WATERWORKS CORPORATIONS › Subchapter E - Uniform Systems Of Accounts › Article 1 - Classes A and B › Part 561 - Instructions-general › Section 561.20 - Approval by the commission

Current through Register Vol. 46, No. 28, July 10, 2024
Whenever the phrases "with the permission of the
						commission", "with the approval of the commission", "approved by the
						commission", "authorized by the commission", or "directed by the commission",
						are used herein, such permission, approval, authorization, or direction must be
						specific and in writing.
New York Codes, Rules and Regulations › Title 16 - DEPARTMENT OF PUBLIC SERVICE › Chapter V - WATERWORKS CORPORATIONS › Subchapter E - Uniform Systems Of Accounts › Article 1 - Classes A and B › Part 561 - Instructions-general › Section 561.21 - Long-term debt; premium, discount and expense, and gain or loss on reacquisition

Current through Register Vol. 46, No. 28, July 10, 2024
(a) Premium, discount and expense.
(1) A separate premium, discount and expense account shall be maintained for each class and series of long-term debt (including receivers' certificates) issued or assumed by the utility. The premium will be recorded in account 225, Unamortized Premium on Long-term Debt, the discount will be recorded in account 226, Unamortized Discount on Long-term Debt--Debit, and the expense of issuance shall be recorded in account 181, Unamortized Debt Expense.
(2) The premium, discount and expense shall be amortized over the life of the respective issues under a plan which will distribute the amounts equitably over the life of the securities. The amortization shall be on a monthly basis, and amounts thereof relating to discount and expense shall be charged to account 428, Amortization of Debt Discount and Expense. The amounts relating to premium shall be credited to account 429, Amortization of Premium on Debt--Credit.
New York Codes, Rules and Regulations › Title 16 - DEPARTMENT OF PUBLIC SERVICE › Chapter V - WATERWORKS CORPORATIONS › Subchapter E - Uniform Systems Of Accounts › Article 1 - Classes A and B › Part 562 - Instructions-balance Sheet Accounts › Section 562.1 - Current and accrued assets

Current through Register Vol. 46, No. 28, July 10, 2024
Current and accrued assets are cash, those assets which
						are readily convertible into cash or are held for current use in operations or
						construction, current claims against others, payment of which is reasonably
						assured, and amounts accruing to the utility which are subject to current
						settlement except such items for which accounts other than those designated as
						current and accrued assets are provided. There shall not be included in the
						group of accounts designated as current and accrued assets any item, the amount
						or collectibility of which is not reasonably assured, unless an adequate
						provision for possible loss has been made therefor. Items of current character
						but of doubtful value may be written down and for record purposes carried in
						these accounts at nominal value.
New York Codes, Rules and Regulations › Title 16 - DEPARTMENT OF PUBLIC SERVICE › Chapter V - WATERWORKS CORPORATIONS › Subchapter E - Uniform Systems Of Accounts › Article 1 - Classes A and B › Part 562 - Instructions-balance Sheet Accounts › Section 562.2 - Current and accrued liabilities

Current through Register Vol. 46, No. 28, July 10, 2024
Current and accrued liabilities are those obligations
						which have either matured or which become due within one year from the date
						thereof; except, however, bonds, receivers certificates and similar obligations
						which shall be classified as long-term debt until date of maturity; accrued
						taxes, such as income taxes, which shall be classified as accrued liabilities
						even though payable more than one year from date; compensation awards, which
						shall be classified as current liabilities regardless of date due; and minor
						amounts payable in installments which may be classified as current liabilities.
						If a liability is due more than one year from date of issuance or assumption by
						the utility, it shall be credited to a long-term debt account appropriate for
						the transaction, except, however, the current liabilities previously
						mentioned.
New York Codes, Rules and Regulations › Title 16 - DEPARTMENT OF PUBLIC SERVICE › Chapter V - WATERWORKS CORPORATIONS › Subchapter E - Uniform Systems Of Accounts › Article 1 - Classes A and B › Part 562 - Instructions-balance Sheet Accounts › Section 562.3 to 562.9 - Repealed

Current through Register Vol. 46, No. 28, July 10, 2024
New York Codes, Rules and Regulations › Title 16 - DEPARTMENT OF PUBLIC SERVICE › Chapter V - WATERWORKS CORPORATIONS › Subchapter E - Uniform Systems Of Accounts › Article 1 - Classes A and B › Part 563 - Instructions-water Plant Accounts › Section 563.1 - Classification of water plant at effective date of system of accounts

Current through Register Vol. 46, No. 28, July 10, 2024
(a) The water plant
					 accounts provided herein are generally the same as those contained in the prior
					 system of accounts except for some changes in classification, regrouping, and
					 rearrangement of certain accounts. Except for these changes, the balances in
					 the various plant accounts, as determined under the prior system of accounts,
					 should be carried forward. Any remaining balance of plant which has not yet
					 been classified, pursuant to the requirements of the prior system, shall be
					 classified in accordance with the following instructions.
(b) The cost to the utility of its
					 unclassified plant shall be ascertained by analysis of the utility's records.
					 Adjustments shall not be made to record in utility plant accounts amounts
					 previously charged to operating expenses or to income deductions in accordance
					 with the uniform system of accounts in effect at the time or in accordance with
					 the discretion of management as exercised under a uniform system of accounts,
					 or under accounting practices previously followed.
(c) The detailed water plant accounts (301 to
					 399, inclusive) shall be stated on the basis of cost to the utility, after
					 giving effect to any amounts of contributions in aid of construction applicable
					 to the property, of plant constructed by it and the original cost, estimated if
					 not known, of plant acquired as an operating unit or system. The difference
					 between the original cost, as above, and the cost to the utility of water plant
					 after giving effect to any accumulated provision for depreciation or
					 amortization, shall be recorded in account 114, Water Plant Acquisition
					 Adjustments. The original cost of water plant shall be determined by analysis
					 of the utility's records or those of predecessor or vendor companies with
					 respect to water plant previously acquired as operating units or systems and
					 the difference between the original cost so determined, less accumulated
					 provisions for depreciation and amortization and the cost to the utility, with
					 necessary adjustments for retirements from date of acquisition, shall be
					 entered in account 114, Water Plant Acquisition Adjustments. Any difference
					 between the cost of water plant and its book cost, when not properly includible
					 in other accounts, shall be recorded in account 116, Other Water Plant
					 Adjustments.
New York Codes, Rules and Regulations › Title 16 - DEPARTMENT OF PUBLIC SERVICE › Chapter V - WATERWORKS CORPORATIONS › Subchapter E - Uniform Systems Of Accounts › Article 1 - Classes A and B › Part 563 - Instructions-water Plant Accounts › Section 563.4 - Overhead construction costs

Current through Register Vol. 46, No. 28, July 10, 2024
(a) All overhead construction costs, such as
					 engineering, supervision, general office salaries and expenses, construction
					 engineering and supervision by others than the accounting utility, law
					 expenses, insurance, injuries and damages, relief and pensions, taxes and
					 interest, shall be charged to particular jobs or units on the basis of the
					 amounts of such overheads reasonably applicable thereto, to the end that each
					 job or unit shall bear its equitable proportion of such costs and that the
					 entire cost of the unit, both direct and overhead, shall be deducted from the
					 plant accounts at the time the property is retired.
(b) As far as practicable, the determination
					 of payroll charges includible in construction overheads shall be based on time
					 card distributions thereof. Where this procedure is impractical, special
					 studies shall be made periodically of the time of supervisory employees devoted
					 to construction activities to the end that only such overhead costs as have a
					 definite relation to construction shall be capitalized. The addition to direct
					 construction costs of arbitrary percentages or amounts to cover assumed
					 overhead costs is not permitted.
(c) The records supporting the entries for
					 overhead construction costs shall be so kept as to show the total amount of
					 each overhead for each year, the nature and amount of each overhead expenditure
					 charged to each construction work order and to each utility plant account, and
					 the basis of distribution of such costs.
New York Codes, Rules and Regulations › Title 16 - DEPARTMENT OF PUBLIC SERVICE › Chapter V - WATERWORKS CORPORATIONS › Subchapter E - Uniform Systems Of Accounts › Article 1 - Classes A and B › Part 563 - Instructions-water Plant Accounts › Section 563.5 - Water plant purchased or sold

Current through Register Vol. 46, No. 28, July 10, 2024
(a) When water plant constituting an
					 operating unit or system is acquired by purchase, merger, consolidation,
					 liquidation or otherwise, after the effective date of this system of accounts,
					 the costs of acquisition, including expenses incidental thereto properly
					 includible in water plant, shall be charged to account 102, Water Plant
					 Purchased or Sold.
(b) The
					 accounting for the acquisition shall then be completed as follows:
(1) The original cost of plant, estimated if
					 not known, shall be credited to account 102, Water Plant Purchased or Sold, and
					 concurrently charged to the appropriate water plant in service accounts and to
					 account 104, Water Plant Leased to Others, account 105, Water Plant Held for
					 Future Use, and account 107, Construction Work in Progress--Water, as
					 appropriate.
(2) The depreciation
					 and amortization applicable to the original cost of the properties purchased,
					 shall be charged to account 102, Water Plant Purchased or Sold, and
					 concurrently credited to the appropriate account for accumulated provision for
					 depreciation or amortization.
(3)
					 The cost to the utility of any property includible in account 121, Nonutility
					 Property, shall be transferred thereto.
(4) The remaining amount of contributions in
					 aid of construction, which have not been identified with and credited to
					 specific water plant acquired, shall be disposed of in accordance with
					 provisions of water plant instruction, section
					 563.2(e) 
					 of this Part.
(5) The amount
					 remaining in account 102, Water Plant Purchased or Sold, shall then be closed
					 to account 114, Water Plant Acquisition Adjustments, unless otherwise
					 authorized by the commission.
New York Codes, Rules and Regulations › Title 16 - DEPARTMENT OF PUBLIC SERVICE › Chapter V - WATERWORKS CORPORATIONS › Subchapter E - Uniform Systems Of Accounts › Article 1 - Classes A and B › Part 563 - Instructions-water Plant Accounts › Section 563.6 - Expenditures on leased property

Current through Register Vol. 46, No. 28, July 10, 2024
(a)
					 The cost of substantial initial improvements (including repairs,
					 rearrangements, additions, and betterments) made in the course of preparing for
					 utility service property leased for a period of more than one year, and the
					 cost of subsequent substantial additions, replacements, or betterments to such
					 property, shall be charged to the water plant account appropriate for the class
					 of property leased. If the service life of the improvements is terminable by
					 action of the lease, the cost, less net salvage, of the improvements shall be
					 spread over the life of the lease by charges to account 404, Amortization of
					 Limited-term Water Plant. However, if the service life is not terminated by
					 action of the lease but by depreciation proper, the cost of the improvements,
					 less net salvage, shall be accounted for as depreciable plant.
(b) If the improvements made to property
					 leased for a period of more than one year are of relatively minor cost, or if
					 the lease is for a period of not more than one year, the cost of the
					 improvements shall be charged to the account in which rent is included, either
					 directly or by amortization thereof.
New York Codes, Rules and Regulations › Title 16 - DEPARTMENT OF PUBLIC SERVICE › Chapter V - WATERWORKS CORPORATIONS › Subchapter E - Uniform Systems Of Accounts › Article 1 - Classes A and B › Part 563 - Instructions-water Plant Accounts › Section 563.8 - Structures and improvements

Current through Register Vol. 46, No. 28, July 10, 2024
(a) The
					 accounts for structures and improvements shall include the costs of all
					 buildings and facilities to house, support, or safeguard property or persons,
					 including all fixtures permanently attached to and made a part of buildings and
					 which cannot be removed therefrom without cutting into the walls, ceilings, or
					 floors or without in some way impairing the buildings, and improvements of a
					 permanent character on or to land. Also include those costs incurred in
					 connection with the first clearing and grading of land and rights-of-way and
					 the damage costs associated with construction and installation of
					 plant.
(b) The cost of specially
					 provided foundations not intended to outlast the machinery or apparatus for
					 which provided, and the cost of angle irons, castings, etc., installed at the
					 base of an item of equipment, shall be charged to the same account as the cost
					 of the machinery, apparatus, or equipment.
(c) Minor buildings and structures, such as
					 valve towers, patrolmen's towers, telephone stations, etc., which are used
					 directly in connection with or form a part of a reservoir, dam, waterway, etc.,
					 shall be considered a part of the facility in connection with which constructed
					 or operated and the cost thereof accounted for accordingly.
(d) Where furnaces and boilers are used
					 primarily for furnishing steam for some particular department and only
					 incidentally for furnishing steam for heating a building and operating the
					 equipment therein, the entire cost of such furnaces and boilers shall be
					 charged to the appropriate plant account, and no part to the building
					 account.
(e) Where the structure of
					 a dam forms also the foundation of a building, such foundation shall be
					 considered a part of the dam.
(f)
					 The cost of disposing of materials excavated in connection with construction of
					 structures shall be considered as a part of the cost of such work, except as
					 follows:
(1) when such material is used for
					 filling, the cost of loading, hauling, and dumping shall be equitably
					 apportioned between the work in connection with which the removal occurs and
					 the work in connection with which the material is used;
(2) when such material is sold, the net
					 amount realized from such sales shall be credited to the work in connection
					 with which the removal occurs. If the amount realized from the sale of
					 excavated materials exceeds the removal costs and the costs in connection with
					 the sale, the excess shall be credited to the land account in which the site is
					 carried.