Section 416.10  Maintenance of Books and Records and Commission Access

 

a)         Electric utilities shall maintain all accounts, irrespective of whether the activity, transaction, or other matter being accounted for constitutes public utility business, in accordance with 83 Ill. Adm. Code 415, Uniform System of Accounts for Electric Utilities.

 

b)         Activities, transactions and other matters pertaining to business other than public utility business shall be recorded in subaccounts of the accounts established in 83 Ill. Adm. Code 415.  Allocations of revenues and charges made between the operations of the public utility business and the business other than public utility business shall be made to the principal utility account and to a subaccount created specifically for the non-public utility business.  If an electric utility uses a method other than subaccounts to identify revenues and expenses related to certain functions, activities, or projects of the public utility business, it is appropriate for the electric utility to use the same method to identify revenues and expenses related to each non-utility business.

 

Section 416.20  Cost Allocation Guidelines

 

a)         Written guidelines for allocating revenues and charges between the public utility business and the business other than public utility business shall be submitted to the Director of Accounting of the Commission for approval by February 12, 1998 unless the public utility conducts public utility business only or unless the public utility previously has submitted such guidelines.

 

b)         When a public utility that does not conduct any business other than public utility business as of January 13, 1998 begins to conduct such other business after January 13, 1998, the public utility shall submit the guidelines for allocating revenues and charges between the public utility business and such other business prior to the initiation of such other business.  These guidelines shall be submitted to the Director of Accounting of the Comission.  If the Director of Accounting finds that the cost allocation guidelines provide a subsidy to the non-public utility business, the Director of Accounting will notify the electric utility in writing, and the electric utility will have 45 days to respond.

 

Section 416.30  Internal Audits

 

a)         Public utilities shall conduct biennial internal audits, or internal audits conducted by independent public accountants, of the accounting for the business other than public utility business. These audits shall test compliance with this Part, with the cost allocation guidelines submitted to the Director of Accounting of the Commission, with any applicable Commission orders, and with 83 Ill. Adm. Code 415. The audits shall include written reports of conclusions and associated workpapers which shall be available to the Commission Staff for review. The audit reports shall be submitted to the Commission's Director of Accounting within 30 days of completion.

 

b)         The first such internal audit report shall be submitted to the Director of Accounting of the Commission on or before December 1, 1998.  Succeeding audit reports shall be submitted to the Director of Accounting of the Commission on or before December 1 of each succeeding even numbered year.