New York Codes, Rules and Regulations › Title 16 - DEPARTMENT OF PUBLIC SERVICE › Chapter II - ELECTRIC UTILITIES › Subchapter F - UNIFORM SYSTEMS OF ACCOUNTS › Article 2 - Classes C and D › Part 182 - Instructions-electric Plant Accounts › Section 182.4 - Land and land rights

Current through Register Vol. 46, No. 28, July 10, 2024
(a) Land and
					 land rights (accounts 1310, 1350 and 1370) means land owned in fee by the
					 utility and rights, interests, and privileges held by the utility in land owned
					 by others such as leaseholds, easements, water rights, rights of way, and other
					 like interests in land.
(b)
					 Separate entries shall be made for the acquisition, transfer, or retirement of
					 each parcel of land, and each land right, or water right, having a life of more
					 than one year. A record shall be maintained showing the nature of ownership,
					 full legal description, area, map reference, purpose for which used, city,
					 village, county, and tax district in which situated, from whom purchased or to
					 whom sold, payment given or received, other costs, contract date and number,
					 date of recording deed, book and page of record. Entries transferring or
					 retiring land or land rights shall refer to the original entry recording its
					 acquisition.
(c) Entries to the
					 electric plant accounts for limited-term interests in land shall make specific
					 reference to the lease, contract or arrangement under which each interest is
					 held or used, together with a concise statement of the terms of the lease,
					 contract or arrangement.
(d) The
					 cost of buildings and other improvements (other than public improvements) shall
					 not be included in the land accounts. If at the time of acquisition of an
					 interest in land such interest extends to buildings or other improvements
					 (other than public improvements), which are then devoted to electric
					 operations, the land and improvements shall be separately appraised and the
					 cost allocated to land and buildings or improvements on the basis of the
					 appraisals. If the improvements are removed or wrecked without being used in
					 electric operations, the cost thereof and the cost of removing or wrecking
					 shall be charged and the salvage credited to the account in which the cost of
					 the land is recorded.
(e) The
					 principal items to be included in the accounts for land and land rights are as
					 follows:
(1) bulkheads, not requiring
					 maintenance or replacement;
(2)
					 cost of acquisition of land including mortgages and other liens assumed (but
					 not subsequent interest thereon after the property is placed in
					 service);
(3) clearing (first
					 cost), the land of brush, trees and debris; and also tree trimming (first cost)
					 when not chargeable to other electric plant accounts;
(4) condemnation proceedings, including court
					 and counsel costs;
(5) consents and
					 abutting damages, payments for;
(6)
					 conveyancers' and notaries' fees;
(7) fees, commissions, etc., to brokers,
					 agents and others in connection with the acquisition of the land or land
					 rights;
(8) grading the land,
					 except when directly occasioned by the building of a structure;
(9) leases, cost of voiding upon purchase to
					 secure possession of land;
(10)
					 removing, relocating, or reconstructing property of others, in order to acquire
					 quiet possession;
(11) special
					 assessments levied by public authorities for public improvements on the basis
					 of benefits for new roads, new bridges, new sewers, new curbing, new pavements,
					 and other public improvements, but not taxes levied to provide for the
					 maintenance of such improvements;
(12) surveys in connection with the
					 acquisition;
(13) taxes assumed,
					 accrued to date of transfer of title;
(14) title, examining, clearing, insuring,
					 and registering in connection with the acquisition, and defending against
					 claims relating to the period prior to the acquisition;