New York Codes, Rules and Regulations
Title 16 - DEPARTMENT OF PUBLIC SERVICE
Chapter V - WATERWORKS CORPORATIONS
Subchapter E - Uniform Systems Of Accounts
Article 2 - Classes C and D
Part 577 - Instructions-water Plant Accounts
- Section 577.1 - Water plant to be recorded at original cost
- Section 577.2 - Additions and retirements of water plant
- Section 577.3 - Components of construction cost
- Section 577.4 - Work order system required (class c utilities only)
- Section 577.5 - Transfers of property
- Section 577.6 - Expenditures on property leased for use in water operations
Amounts received for construction which are ultimately to be refunded, wholly or in part, shall be credited to account 1241, Customer Advances for Construction. When the amount to be refunded has been finally determined, the balance, if any, remaining in account 1241 shall be debited thereto and credited to the water plant accounts to which the cost of the property was charged.
The cost of property includes the cost of preliminary surveys and studies and the cost of preparing plans and specifications at the time of construction for construction projects which are undertaken, and also the cost of keeping the construction accounts during the construction period, together with the cost of maps, books, files and other systems employed and permanently preserved in support of such construction costs. The cost of property does not include the cost incurred subsequent to the construction period of preparing, installing or maintaining maps, inventories, accounting and other financial records of property for use in the operation of a constructed plant, the cost of the preparation of inventories, appraisals, or other studies, nor costs incurred in the establishment or revision of accounting routine.
Requirement of the use of the work order system here outlined may be suspended by order of the commission in the case of a utility which satisfies the commission that the system which it has in use for recording changes in water plant accounts gives the equivalent detail by accounts in substantially the same form. The identification of expenditures with property must be complete and clear, and the detail of the cost of each project or job must be readily available.
