52 Pa. Code § 59.47 - Continuing property records
(a) Each public utility having annual gas
operating revenue of $100,000 or more shall maintain a continuing property
record of its gas plant the cost of which is recorded in Accounts 101, 102,
103, 104 and 105 of the uniform accounting system prescribed by §
59.42 (relating to systems of
accounts).
(b) An outline of the
plan of the company for the establishment and maintenance of its continuing
property record shall be submitted to the Commission within 2 years after the
effective date of its change of revenue classification for approval.
Thereafter, a proposed major changes in the plan shall be submitted to the
Commission for approval.
(c)
Continuing property records shall contain detailed description and
classification of property record units which meet the following objectives:
(1) An inventory of plant by property-record
units which may be readily checked for proof of existence.
(2) The association of costs with the units,
to assure accurate retirement accounting.
(3) The dates of installation and removal of
property-record units, to provide age and life data for use in depreciation
studies.
(d) The
continuing property record, or records supplemental to those records, shall
include information as to the kind, character, size, quantity, location, year
of placement and retirement, percentage of ownership, and original cost of gas
plant.
(e) Plants comprising a
large number of similar units, such as mains, meters, and regulators, may be
grouped, and the average cost thereof used for retirement accounting. Grouping
should be by years of construction within one cost-keeping area. The entire
system may be considered as one cost-keeping area unless otherwise required for
regulatory purposes. If it is impracticable to account for construction by
years, the company may, with Commission approval, cost certain items by bands
of years or by average costs for all years. The grouping does not relieve the
utility from its requirement to provide age and life data and to maintain
location records for the plant.
Notes
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