Utility Accounting Education Update
Insights to maximize the opportunities in the Power and Utilities industry
utilityeducation.com
July, 2023
This month’s issue: Performance evaluation insights, recovering storm damage costs in customer rates, and five reasons for updating overhead costs!
If you like accounting (or even if you don’t) these tidbits will make your day job easier. We’d love it if you would submit some topics you’d like to see in this newsletter.
Midyear evaluations should be a look ahead!
Ready for mid-year evaluations?
Maximize the performance review process by making it a joint goal setting session. The benefits for employees and your team are immeasurable.
Keeping overhead costs current - they’re a moving target
Overhead costs are a substantial portion of any project. How often should they be updated to be current? Here’s five reasons for a regular review.
The UAES article library covers introductory and advanced co-op, FERC, and utility accounting, developing electric rates, and financial management. We include practical examples you can use now in your electric cooperative or utility!
Storm damage costs are part of the business and should be part of customer rates
You may not be able to dodge the storm, but your utility will need to recover clean-up costs in customer rates. Here’s how to use accounting standards to make sure costs aren’t left behind.
New to the Power and Utilities business? Here’s a FREE course for new accounting and finance team members!
Introduction to the Electricity Business 2.0!
The more you know about the electric business, the better value you bring to your organization and to your career!
This FREE course will give you a high-level overview of how an electric utility and cooperative gets electricity to its customers, how it operates, the level of oversite governance, and the finances that make for a healthy business. You will be able to immediately use this information in your day to day work and "speak electric" with your peers! Be an expert in 30 minutes!
Thank you for your support and interest in best practices in accounting, developing electric rates, and financial management. The Power and Utilities Industry is the foundation for a vibrant economy and an integral part of our society!
Just for reading this far down the newsletter you’ll get 35% off a 12 month All-Access UAES membership! Just use the code Goals35 at checkout!
Here’s some thoughts to help you zero in on your goals:
“Encountering some detours on the way to your goals? There are always other routes around detours.
Your path isn’t always straight, but the end goal is the focus:“Perhaps some detours aren’t detours at all. Perhaps they are actually the path.” — Katherine Wolf
”Some people say I have attitude - maybe I do... but I think you have to. You have to believe in yourself when no one else does - that makes you a winner right there.” — Venus Williams
“You can’t always control the circumstances - only how you react to those circumstances; you can always control your attitude and your effort.” — Jennie FinchEnjoy the journey to your goals!
Write your goals down and review daily, you’ll be amazed at the results you achieve!”