Illinois Administrative Code
Title 83 - PUBLIC UTILITIES
Part 650 - UNIFORM SYSTEM OF ACCOUNTS FOR SEWER UTILITIES
Subpart B - ADDITIONS TO AND DELETIONS FROM NARUC UNIFORM SYSTEM OF ACCOUNTS
Section 650.130 - Accounting Instruction 22
Universal Citation: 83 IL Admin Code ยง 650.130
Current through Register Vol. 48, No. 38, September 20, 2024
In Accounting Instruction 22, "Utility Plant - Accounting for Capital and Operating Leases," delete Paragraph B and replace with the following:
"B. If the amount of the lease
is material, then it will be recorded as a capital lease or as an operating lease as
may be applicable. Materiality is defined as the magnitude of an omission or
misstatement of accounting information that, in light of surrounding circumstances,
makes it probable that the judgment of a reasonable person relying on the
information would have been changed or influenced by the omission or
misstatement."
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