Each public utility, except a utility operated by an affected
county, must keep uniform accounts as prescribed by the commission
of all business transacted. The classification of utilities, index
of accounts, definitions, and general instructions pertaining to each
uniform system of accounts, as amended from time to time, must be
adhered to at all times, unless provided otherwise by these sections
or by rules of a federal regulatory body having jurisdiction over
the utility, or unless specifically permitted by the commission.
(1) System of accounts. For the purpose of accounting
and reporting to the commission, each public utility must maintain
its books and records in accordance with the commission's approved
system of accounts, or if the commission has not approved a system
of accounts, the following prescribed uniform system of accounts:
(A) Class A Utility, as defined by §24.3(5) of
this title (relating to Definitions of Terms); the uniform system
of accounts as adopted and amended by the National Association of
Regulatory Utility Commissioners (NARUC) for a utility classified
as a NARUC Class A utility.
(B) Class B Utility, as defined by §24.3(6) of
this title; the uniform system of accounts as adopted and amended
by NARUC for a utility classified as a NARUC Class B utility.
(C) Class C Utility, as defined by §24.3(7) of
this title; the uniform system of accounts as adopted and amended
by for a utility classified as a NARUC Class C utility.
(D) Class D Utility, as defined by §24.3(8) of
this title; the uniform system of accounts as adopted and amended
by a utility classified as a NARUC Class C utility.
(2) Accounting period. Each utility must keep its books
on a monthly basis so that for each month all transactions applicable
thereto are entered in the books of the utility.
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