16 CRR-NY 463.3NY-CRR
16 CRR-NY 463.3
16 CRR-NY 463.3
463.3 Steam plant purchased.
(a) When steam plant constituting an operating unit or system is acquired by purchase, merger, consolidation, liquidation, or otherwise, after the effective date of this system of accounts, the cost of acquisition, including expenses incidental thereto and properly includible in steam plant, shall be charged to account 106.2, Steam Plant Purchased.
(b) The accounting for the acquisition shall then be completed as follows:
(1) The original cost, estimated if not known, (less any credits for contributions in aid of construction applicable to the property transferred), shall be credited to account 106.2, Steam Plant Purchased, and concurrently charged to account 101, Steam Plant in Service, account 102, Steam Plant Leased to Others, account 103, Construction Work in Progress, and account 104, Steam Plant Held for Future Use, as appropriate, and distributed to the detailed accounts which they control.
(2) The accrued depreciation applicable to the properties purchased shall be charged to account 106.2, Steam Plant Purchased, and concurrently credited to account 250, Reserve for Depreciation of Steam Plant.
(3) The amounts previously carried by the selling company in account 265, Contributions in Aid of Construction, shall be charged to account 106.2, Steam Plant Purchased, and concurrently credited to account 265, Contributions in Aid of Construction.
(4) The amount remaining in account 106.2, Steam Plant Purchased, shall then be closed to account 105, Steam Plant Acquisition Adjustments, unless otherwise ordered by this commission.
(c) In connection with the acquisition of steam plant constituting an operating unit or system, the utility shall procure, if possible, all existing records relating to the property acquired, or certified copies thereof, and shall preserve such records until authorized by the commission to destroy or otherwise dispose of them.
16 CRR-NY 463.3
Current through March 31, 2022
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