N.Y. Comp. Codes R. & Regs. tit. 16 § 461.6

Current through Register Vol. 46, No. 45, November 2, 2024

Section 461.6 - Delayed items

(a) The term delayed items means items relating to transactions which occurred prior to the current calendar year but which were not recorded in the books of account in the prior year.

(b) Delayed items shall be charged or credited to the same accounts which would have been charged or credited had the items not been delayed; provided, that when the amount of a delayed item is relatively so large that its inclusion in the accounts for a single month would seriously distort the accounts it may be distributed in equal amounts to the accounts for the current and remaining months of the calendar year. If the amount of any delayed item is relatively so large that its inclusion in the accounts for a single year would seriously distort the accounts, the utility shall distribute the amount to the appropriate surplus account.

(c) Records shall be maintained so that the utility will be able to list and describe in the annual report for each year each delayed item amounting to $100 or more entered in the Income Account during that year.

N.Y. Comp. Codes R. & Regs. Tit. 16 § 461.6