Wis. Admin. Code Public Service Commission PSC 185.43 - Construction records
(1) Every utility shall prepare and maintain
a record of its utility plant. The records shall include a description of the
unit of property, the year of its construction, and its location. They shall be
in the form of a map or descriptive table.
(2) Class AB utilities are required by the
uniform system of accounts to institute a perpetual inventory of their assets
known as continuing property records. A continuing property record system shall
contain the following criteria and detail:
(a)
The system shall be arranged by plant accounts as prescribed by the Uniform
System of Accounts;
(b) All
property units shall be described in sufficient detail to permit their
identification and shall have location information to allow verification of
their physical existence;
(c) All
property units shall be identified with construction costs to establish their
original cost for capitalization and retirement accounting;
(d) The age and service life of property
units shall be calculable for depreciation studies. The original cost,
description, and age of the property unit at retirement shall be converted into
mortality records and permanently retained. (See s.
PSC 185.19);
(e) Source documents supporting the original
cost and quantities of property units shall be preserved for a period of 6
years after the plant is retired. (See s.
PSC 185.19.) An exception is when a utility maintains
approved continuing property records and permanent mortality records, then
supporting documents need only be preserved for a period of 6 years after
construction is completed. This provision meets commission requirements but may
not satisfy other record-keeping needs;
(f) Maps may be part of the continuing
property records if they contain the description of the unit, its location, and
the year of its construction. For maps to become the Continuing Property
Record, the units shall be referenced to their original cost.
(3) A utility may apply for a
waiver from any portion of subs. (1) and (2). Such application shall state the
paragraphs to which a waiver is requested. Also, the utility shall provide the
reasons it cannot or shall not have to comply with subs. (1) through (2) (f)
and the impacts such a waiver would have on the utility's ability to maintain
usable continuing property records, if any.
Notes
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.
No prior version found.