New Mexico Administrative Code
Title 17 - PUBLIC UTILITIES AND UTILITY SERVICES
Chapter 12 - WATER SERVICES
Part 720 - UNIFORM SYSTEMS OF ACCOUNTS AND ANNUAL REPORT FORMS FOR WATER UTILITIES
Section 17.12.720.19 - RETAINED EARNINGS ACCOUNTS
Universal Citation: 17 NM Admin Code 17.12.720.19
Current through Register Vol. 35, No. 18, September 24, 2024
A. 435 - Balance Transferred from Income: This account shall include the net credit or debit transferred from income for the year.
B. 436 - Appropriations of Retained Earnings:
(1) This account shall include appropriations
of retained earnings.
(2) Item:
(a) Appropriations required under terms of
mortgages, orders of court, contracts, or other agreements.
(b) Appropriations required by action of
regulatory authorities.
(c) Other
appropriations made at option of utility for specific purposes.
C. 438 - Dividends Declared:
(1) This account shall include
amounts declared payable out of retained earnings as dividends on actually
outstanding common stock issued by the utility.
(2) Dividends shall be segregated for each
class of common stock as to those payable in cash, stock, and other forms. If
not payable in cash, the medium of payment shall be described with sufficient
detail to identify it.
D. 439 - Adjustments to Retained Earnings:
(1) This account shall include significant
nonrecurring transactions relating to prior periods. Other than transactions of
stock as specified in paragraph B [(2)] below, all entries to this account must
receive prior Commission approval. These transactions are limited to those
adjustments which (a) can be specifically identified with and related to the
business activities of particular prior periods, (b) are not attributable to
economic events occurring subsequent to the date of the financial statements
for the prior period, (c) depend primarily on determinations by persons other
than the management, and (d) were not susceptible to reasonable estimation
prior to such determination. This account shall also include the related income
tax effects (State and Federal) on items included herein. All items included in
this account shall be sufficiently described in the entries relating thereto as
to permit ready analysis.
(2)
Adjustments, charges, or credits due to losses on reacquisition, resale, or
retirement of the company's own capital stock shall be included in this
account.
(3) Item:
(a) Significant nonrecurring adjustments or
settlement of income taxes.
(b)
Significant amounts resulting from litigation or similar claims.
(c) Significant amounts relating to
adjustments or settlements of utility revenue under rate processes.
(d) Significant adjustments to plant in
service depreciation and amortization as a result of Commission
direction.
(e) Write-off of
unamortized capital stock expenses.
Disclaimer: These regulations may not be the most recent version. New Mexico may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
