Utility Accounting Education Update
Here are insights to help keep you current in the Power and Utilities industry!
utilityeducation.com
September, 2022
Interdepartmental cost allocations, new GASB’s, and conservation inducing water rates!
The excitement never stops in the accounting world, so read on if these are of interest and/or forward to a friend! If not, submit some topics you’d like to see in this newsletter.
Don't Commit to Offering Broadband Without a Feasibility Study
Is your community or utility considering offering telecommunications services? With $65 billion of funds allocated for broadband grants in the 2021 Infrastructure Act, opportunities are available to make entry into these service areas more financially feasible. But, before jumping into this business venture, there is still due diligence that your community should do, just like starting in any new business.
GASB Cracks the Century Mark with Statements 100 and 101
The Governmental Accounting Standards Board (GASB) recently issued statement No. 100 - Accounting Changes and Error Corrections - An Amendment of GASB Statement No. 62 and GASB Statement No. 101 - Compensated Absences. Both are effective starting in 2023. This article summarizes the highlights and effective dates of those two new standards.
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!
Encouraging water conservation is bad for your water utility business?
Design water rates that both encourage conservation and recover the cost of providing service.
New to the Power and Utilities business? Here’s a course on industry basics - finance, operations, and regulation!
The 3-Point Formula?
Is that a field goal, or a way to allocate interdepartmental costs based on best-practices and math. Try this approach and you’ll cut down with difficult internal discussions on the “fairness” of allocating shared costs.
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 20% off a 12 month All-Access or Premium UAES membership! Just use the code Newmember20 at checkout!
Final thoughts for this issue - Take the drive to excellence!
“I think goals should never be easy, they should force you to work, even if they are uncomfortable at the time.”
“Set realistic goals, keep re-evaluating, and be consistent.”
“It’s harder to stay on top than it is to make the climb. Continue to seek new goals.”