§ 57.46. Continuing property records.
(a) A public utility having annual electric operating revenues of $25,000 or more shall maintain a continuing property record of its electric plant, the cost of which is recorded in accounts 101, 102, 103, 104, and 105 in the uniform accounting system prescribed in § 57.42 (relating to systems of accounts prescribed).
(b) An outline of the plan of the company for the establishment and maintenance of its continuing property record shall be submitted to the Commission for approval. Major changes in the plan shall also be submitted to the Commission.
(c) The continuing property record shall contain the detailed description and classification of property record units as will provide all of the following:
(1) An inventory of plant by property record units which may be readily checked for proof of existence.
(2) The association of costs with the units, to assure accurate retirement accounting.
(3) The dates of installation and removal of property record units, to provide age and life data for use in depreciation studies.
(d) The continuing property record, or records supplemental to it, shall include information as to the kind, character, size, quantity, location, year of placement and retirement, percentage of ownership and original cost of electric plant.
(e) Plants comprising a large number of similar units, such as poles, wire, meters and line transformers, may be grouped, and the average cost used for retirement accounting. Grouping should be by years of construction within one cost-keeping area. The entire system may be considered as one cost-keeping area unless otherwise required for regulatory purposes. If it is impracticable to account for construction by years, the public utility may, with Commission approval, cost certain items by bands of years or by average costs for all years. The grouping does not relieve the utility from its requirements to provide age and life data and to maintain location records for such plant.
Source The provisions of this § 57.46 adopted February 25, 1946; amended through May 29, 1973.
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