Utility Accounting Education Update
Here are insights to help keep you current in the business!
utilityeducation.com
January, 2022
We're quickly moving through the 1st month of the new year and facing changes in the business environment. Interest rates will be increasing and inflation is impacting project costs. What are some approaches to manage the impact on our electric utility or co-op?
The Board of Director's Role in Managing Your Bond Rating
Are lines blurred in your utility over financial responsibilities? The responsibility for the bond rating is part of the role of the utility's Board of Directors through the approval of budgets, electric rates, and short and long-term strategy. The better the bond rating, the lower the interest rate and more funds are retained by the utility vs. paid to bond holders. What are strategies to follow? Here are some insights.
How to use GASB 89 for Fair Electric Rates
GASB 89 requires municipal electric utilities to expense construction period interest. This does a dis-service to current electric ratepayers but there is an exception that gives a more reasonable outcome. We discuss the options.
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!
Help Employees Set Realistic Career Goals
No matter your background, if you are in charge of employees, your job description includes giving employee evaluations, providing feedback, and helping employees develop their career goals. How do you balance the needs of the business with employee needs? Let’s explore some areas.
New to the electric business? Here’s a FREE course on industry basics - finance, operations, and regulation!
Welcome to the Electric Business
Are you new to the electric business and need to get up to speed quickly? This FREE course gives a high level overview of the business - operations, finance, and governance. Be an expert!
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 25% off a UAES course, bundle, or the first 12 months of a subscription! Just use the code News25 at checkout!
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Final thoughts for this issue
““ Strength grows in the moments when you think you can’t go on but you keep going anyway. ” ”
“Seven Steps to Success
1) Make a commitment to grow daily.
2) Value the process more than events.
3) Don’t wait for inspiration.
4) Be willing to sacrifice pleasure for opportunity.
5) Dream big.
6) Plan your priorities.
7) Give up to go up.”