Section 65.16. System of accounts

(a) A public utility having annual operating revenue of $750,000 or more (average of the last 3 consecutive years) shall keep its accounts in conformity with the most recent Uniform System of Accounts for Class A Water Utilities prescribed by the National Association of Regulatory Utility Commissioners (N.A.R.U.C.).

(b) A public utility having annual operating revenues of $150,000 or more but less than $750,000 (average of the last 3 consecutive years) shall keep its accounts in conformity with the Uniform System of Accounts for Class B Water Utilities prescribed by N.A.R.U.C.

(c) A public utility having annual operating revenues of less than $150,000 (average of the last 3 consecutive years) shall keep its accounts in conformity with the most recent Uniform System of Accounts for Class C Water Companies prescribed by N.A.R.U.C.

(d) Public utilities subject to this section shall have until January 1, 2000, to convert to the most recent Uniform System of Accounts for Class A, Class B or Class C Water Utilities prescribed by N.A.R.U.C.

The provisions of this § 65.16 adopted March 25, 1946; amended August 15, 1980, effective August 16, 1980, 10 Pa.B. 3356; amended August 3, 1984, effective November 1, 1984, 14 Pa.B. 2862; amended February 13, 1998, effective February 14, 1998, 28 Pa.B. 804. Immediately preceding text appears at serial page (225766).

Notation

Authority

The provisions of this § 65.16 issued under the Public Utility Code, 66 Pa.C.S. § § 317, 501, 1301, 1304, 1501, 1502, 1504, 1507, 1508, 1702 and 1704; amended under the Public Utility Code, 66 Pa.C.S. § § 501, 504, 505, 506, 1301 and 1501.

Notes of Decisions

Gain

Gain from the sale of land is to be credited to a shareholder surplus account and does not inure to the benefit of the ratepayers inasmuch as the shareholders contributed the capital from which the land was purchased and bore the risk of any decline in the value of the land, Pennsylvania Public Utility Commission v. Consumers Pennsylvania Water Company—Roaring Creek Division, 182 P.U.R. 4th 237 (1997).