N.Y. Comp. Codes R. & Regs. tit. 16 § 463.1

Current through Register Vol. 46, No. 45, November 2, 2024

Section 463.1 - Classification of steam plant at effective date of system of accounts

(a) Not later than December 31, 1938, each utility shall have completed the studies necessary for determining the original cost thereof and classifying its steam plant as of the effective date of this system of accounts in accordance with the accounts prescribed herein (accounts 101 to 105 and subaccounts thereunder) and it shall submit prior to said date to the commission the entries it proposes to make to carry out the provisions of this system of accounts. It shall submit also, a comparative balance sheet showing the accounts and amounts appearing in its books as of the effective date of this system of accounts and the accounts and respective amounts as of the same date after the proposed entries shall have been made.

(b) Pending the classification of steam plant at the effective date of this system of accounts in accordance with the accounts prescribed herein, each utility shall maintain its present accounts with respect to such property as subaccounts of account 106.1, Steam Plant in Process of Reclassification.

(c) Nothing herein stated shall be taken as permitting the recording as part of the original cost of steam plant of amounts charged in previous years to operating expenses, operating taxes or other income or surplus accounts.

N.Y. Comp. Codes R. & Regs. Tit. 16 § 463.1