New York Codes, Rules and Regulations › Title 16 - DEPARTMENT OF PUBLIC SERVICE › Chapter IV - STEAM UTILITIES › Subchapter F - Uniform Systems Of Accounts › Article 1 - Classes A and B › Part 463 - Instructions-steam Plant Accounts › Section 463.2 - Steam plant to be recorded at original cost

Current through Register Vol. 46, No. 28, July 10, 2024
(a) All amounts included in subaccounts of
					 accounts 101 to 104 for steam plant (except as otherwise provided in account
					 302, Franchises and Consents) shall be the original cost (see §
											460.1[a][27]) of such steam plant.
(b) When the
					 term cost is used in the detailed steam plant accounts, it shall mean the
					 original cost unless otherwise specified and shall include not only the
					 materials, supplies, labor, services and other items consumed or employed in
					 the construction and installation of steam plant, but also the cost of
					 preliminary studies, plans, surveys, engineering, supervision, and general
					 expenses, which contribute directly and immediately to steam plant without
					 duplication of such costs.
(c) When
					 the consideration given for property is other than cash, the value of such
					 consideration shall be determined on a cash basis. In the entry recording such
					 transaction the actual consideration shall be described with sufficient
					 particularity to identify it. The utility shall be prepared to furnish the
					 commission the particulars of its determination of the cash value of the
					 consideration, if other than cash.
(d) When property is purchased under a plan
					 involving deferred payments, no charge shall be made to the steam plant
					 accounts for interest, insurance, or other expenditures occasioned solely by
					 such form of payment.
(e) Steam
					 plant contributed to the utility or constructed by it from contributions to it
					 of cash or its equivalent shall be charged to the steam plant accounts at cost
					 (see §
											460.1,
					 subd. [a][13]) to the utility (i.e., original cost less the portion thereof
					 contributed by or on behalf of customers). Records shall be kept so that the
					 utility can readily furnish information as to the source, purpose, and amount
					 of each contribution, the property to which each contribution relates, and the
					 conditions, if any, upon which each contribution was made.
Note A:Amounts received for construction which are
						ultimately to be refunded, wholly or in part, shall be credited to account 241,
						Customers' Advances for Construction. When the amount to be refunded has been
						finally determined, the balance, if any, remaining in account 241 shall be
						debited thereto and credited to the steam plant accounts to which the cost of
						the property was charged.
Note B:Amounts in account 265, Contributions in Aid of
						Construction, as of the effective date of this amendment, which are applicable
						to and can be identified with property in service or held for future use, shall
						be transferred to the accounts in which the cost of such property is carried.
						The balance, if any, remaining in account 265, Contributions in Aid of
						Construction, shall be transferred to account 250, Reserve for Depreciation of
						Steam Plant (or account 253.1, Reserve for Depreciation and Amortization of
						Other Utility Plant, or 253.2, Reserve for Depreciation and Amortization of
						Common Utility Plant, if appropriate), unless the commission approves or
						directs other disposition.