N.Y. Comp. Codes R. & Regs. tit. 16 § 463.5

Current through Register Vol. 46, No. 36, September 4, 2024

Section 463.5 - Overhead construction costs

(a) All overhead construction costs, such as engineering, supervision, general office salaries and expenses, construction engineering and supervision by others than the accounting utility, law expenses, insurance, injuries and damages, relief and pensions, taxes and interest, shall be charged to particular jobs or units on the basis of the amounts of such overheads reasonably applicable thereto, to the end that each job or unit shall bear its equitable proportion of such costs and that the entire cost of the unit, both direct and overhead, shall be deducted from the steam plant accounts at the time the unit of property is retired.

(b) The instructions contained herein shall not be interpreted as permitting the addition to steam plant accounts of arbitrary percentages or amounts to cover assumed overhead costs, but as requiring the assignment to particular jobs and accounts of reasonable overhead costs to the extent actually incurred, as shown by records currently maintained.

(c) The records supporting the entries for overhead construction costs shall be so kept as to show the total amount of each overhead for each year, the nature and amount of each overhead expenditure charged to each construction work order and to each steam plant account, and the bases of distribution of such costs.

N.Y. Comp. Codes R. & Regs. Tit. 16 § 463.5