Accounts

• Library: New York Codes, Rules and Regulations
• Edition: 2023
• Currency: Current through Register Vol. 45, No. 52, December 27, 2023
• Year: 2023

Balance Sheet Accounts

Assets and Other Debits

Utility Plant

Section 101. Steam Plant in Service

(A) This account shall include the original cost of steam plant owned and used and useful by the utility in the service of the public in its steam operations, including such property owned by the utlity but held by nominees.

(B) The cost of additions to and betterments of property leased from others shall also be recorded in this account. (See steam plant instruction § 463.6.) Note A: The property included in this account shall be classified according to the detailed accounts (301 to 390) for steam plant. Note B: The account for steam plant in service may include the entire original cost of units of property which are partially used and useful in utility operations when the portion which is so used and useful is not separable from the portion which is not used and useful.

Section 102. Steam Plant Leased to Others

(A) This account shall include the original cost of steam plant owned by the utility, but leased to others as operating units or systems, where the lessee has exclusive possession.

(B) The property included in this account shall be classified according to the detailed accounts (301 to 390) for steam plant, and this account shall be maintained in such detail as though the property were used by the utility in its steam operations.

Section 103. Construction Work in Progress

This account shall include the total of the balance of work orders for steam plant in process of construction but not ready for service at the date of the balance sheet.

Section 104. Steam Plant Held for Future Use

(A) This account shall include the original cost of steam plant owned and held for use in steam service under a definite plan for such use. There shall be included herein property acquired but never used by the utility in steam service, but held for such service in the future under a definite plan, and property previously used by the utility in steam service, but retired from such service and held pending its reuse in the future, under a definite plan, in steam service.

(B) The property included in this account shall be classified according to the detailed accounts (301 to 390) for steam plant, and the account shall be maintained in such manner and in such detail as though the property were in service Note: Materials and supplies and customers' meters held in reserve shall not be included in this account.

Section 105. Steam Plant Acquisition Adjustments

(A) With respect to steam plant constructed or otherwise acquired prior to January 1, 1938, and still in service, leased to others, and held for future use at that date, this account shall include the difference between the book cost thereof as of December 31 1937, and the original cost thereof when such difference is not clearly includible in any other account, and unless otherwise ordered by the commission.

(B) With respect to steam plant acquired after December 31, 1937, as an operating unit or system by purchase, merger, consolidation, liquidation or otherwise, this account shall include (unless otherwise ordered by the commission) the difference between (a) the cost to the accounting utility of such steam plant and (b) the original cost thereof less credits representing contributions (see paragraph B account 265, Contributions in Aid of Construction, and steam plant instruction § 463.2, subd. [e]), less the amount or amounts credted to the depreciation reserves of the accounting utility at the time of acquisition with respect to such steam plant and less the amount in account 265, Contributions in Aid of Construction. (See steam plant instructions §§ 463.1, 463.2 and 463.3.)

(C) Whenever practicable this account shall be subdivided according to the character of the amounts included herein and so as to show the amounts applicable to steam plant in service, steam plant leased to others, and steam plant held for future use.

(D) A record shall be kept of the amounts in this account for each property acquisition after December 31 1937.

(E) With respect to the amount applicable to steam plant acquired prior to January 1, 1938, and to each property acquisition thereafter, the utility shall notify the commission as to its program for depreciation, amortization, or other disposition of the amounts included in this account.

Section 106. Unclassfied Steam Plant

There shall be reported by this caption the net balance in the following accounts:

Section 106.1. Steam Plant in Process of Reclassification

(A) There shall be closed to this account the book cost of steam plant (formerly called "fixed capital" or "operating property") as of the effective date hereof. The detail or primary accounts in support of this account employed prior to such date shall be continued pending determination of the original cost thereof and classification into the steam plant accounts herein prescribed, but shall not be used for additions betterments, or new construction.

(B) No charges other than as provided in paragraph A above shall be made to this account, but retirements of steam plant owned as of the effective date hereof shall be credited hereto and to the supporting (old) fixed capital accounts until the reclassification shall have been accomplished. Note: It is intended that this shall be only a temporary account.

Section 106.2. Steam Plant Purchased

(A) This account shall include the cost of steam plant acquired as an operating unit or system by purchase, merger, consolidation, liquidation or otherwise, pending the distribution thereof to the appropriate accounts in accordance with steam plant instruction section 463.3.

Section 106.3. Steam Plant Sold

(A) This account shall be credited temporarily with the selling price of steam plant constituting an operating unit or system, sold, conveyed or transferred to another through sale, merger, consolidation, or otherwise, pending the completion of the accounting for the transaction as provided in steam plant instruction section 463.11.

Section 108. Other Utility Plant

(A) There shall be included under this caption the balances in accounts for utility plant other than steam plant.

(B) A separate account shall be maintained for each utility department. Note: In the case of utility services for which systems of accounts are prescribed by this Commission, such as electric, gas, etc., the appropriate accounts in such systems shall be used instead of this account.

Section 109.1. Common Utility Plant in Service

This account shall include the original cost of utility plant in service which is used in common for steam operations and other operations. (See steam plant instruction § 463.14.)

Note A:

The property included in this account shall be classified according to the accounts for steam plant.

Note B:

The account for common utility plant in service may include the entire original cost of units of property which are partially used and useful in utility operations when the portion which is so used and useful is not separated from the portion which is not used and useful.

Section 109.2. Common Utility Plant Leased to Others

This account shall include the original cost of common utility plant leased to others as operating units or systems, when the lessee has exclusive possession. (See steam plant instruction § 463.14.)

Note:

The property included in this account shall be classified according to the accounts for steam plant.

Section 109.3. Common Utility Plant Construction Work in Progress

This account shall include the total of the balances of work orders for common utility plant in process of construction but not ready for service at the date of the balance sheet. (See steam plant instruction § 463.14.)

Section 109.4. Common Utility Plant Held for Future Use

This account shall include the original cost of common utility plant owned and held for use in steam operations and other operations under a definite plan for such use. (See steam plant instruction § 463.14.)

Note:

The property included in this account shall be classified according to the accounts for steam plant.

Section 109.5. Common Utility Plant Acquisition Adjustments

This account shall include in the case of common utility plant (see steam plant instruction § 463.14) items corresponding to those provided for steam plant in account 105, Steam Plant Acquisition Adjustments.

Section 109.6. Unclassified Common Utility Plant

This account shall include in the case of common utility plant (see steam plant instruction § 463.14) items corresponding to those provided for steam plant in accounts 106.1, Steam Plant in Process of Reclassification, 106.2, Steam Plant Purchased, or 106.3, Steam Plant Sold.

Investment and Fund Accounts

Section 110. Other Physical Property

(A) This account shall include the cost to the utility (except as otherwise provided in steam plant instruction § 463.13, subd.) of land, structures, and equipment owned by the utility, but not used in utility service and not properly...