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 460 - General Provisions › Section 460.0 - Order authorizing uniform system of accounts for steam corporations in classes a and b

Current through Register Vol. 46, No. 28, July 10, 2024
(a) The Uniform
					 System of Accounts for Steam Corporations (Classes A and B) is hereby
					 prescribed for every steam corporation (as that term is defined in the Public
					 Service Law) which has annual operating revenues from steam operations in
					 excess of $100,000 subject to the jurisdiction of this commission, and every
					 such steam corporation is hereby required, on and after January 1, 1938, to
					 keep its records and accounts in conformity therewith.
(b) During the 12 months following the date
					 on which said uniform system of accounts becomes effective, any such steam
					 corporation may, for purposes of comparison, keep on its books, in addition to
					 the accounts hereby prescribed, such portion or portions of its present
					 accounts as may be deemed desirable by any such corporation.
(c) Each steam corporation for which this
					 uniform system of accounts is prescribed shall classify, set forth, and carry
					 all assets, liabilities, capital stock, and surplus existing as of the
					 effective date of this uniform system of accounts, as prescribed in such system
					 of accounts.
(d) Each such steam
					 corporation shall prepare and file in triplicate with the commission not later
					 than six months after the effective date of this uniform system of accounts,
					 summary statements showing (1) the closing balance of each balance sheet
					 account carried on the books directly preceding the effective date of this
					 system of accounts prescribed herein, the title of each account under this
					 system of accounts to which any portion thereof was transferred, and the amount
					 so transferred, and (2) the opening balance of each account under this system
					 of accounts, the title of each account from which any portion thereof was
					 transferred, and the amount so transferred. Reserves existing at the effective
					 date of this system of accounts accumulated to provide for losses upon
					 retirement or withdrawal of property from service, depreciation, amortization
					 or replacement of fixed capital or operating property shall be transferred to
					 the accounts prescribed herein for depreciation and amortization
					 reserves.
(e) In prescribing this
					 system of accounts, the commission does not commit itself to the approval or
					 acceptance of any item set out in any account, for the purpose of fixing rates
					 or in determining other matters before the commission. The prescribed system of
					 accounts is designed to set out the facts in connection with the
					 capitalization, construction, income, expenditures, etc., and therefrom the
					 commission will determine, in connection with such matters as may be under
					 advisement from time to time, just what consideration shall be given to the
					 various items in the several accounts.
(f) The system of accounts prescribed by this
					 order shall be put into effect by each steam corporation affected thereby on
					 January 1, 1938, except that any such steam corporation may upon notification
					 to the commission, adopt the system of accounts prescribed herein as of January
					 1, 1937.