18 Cfr 366.23

§ 366.22

18 CFR Ch. I (4–1–18 Edition)

retention that may be prescribed by
any other regulatory agency.

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[Order 667–A, 71 FR 28457, May 16, 2006, as
amended by Order 684, 71 FR 65226, Nov. 7,
2006]

§ 366.22 Accounts and records of service companies.
(a) Record-retention requirements—(1)
General. Unless otherwise exempted or
granted a waiver by Commission rule
or order pursuant to §§ 366.3 and 366.4,
beginning January 1, 2008, every service company must maintain and make
available to the Commission such
books, accounts, memoranda, and
other records in such manner and preserve them for such periods as the
Commission prescribes in part 368 of
this chapter, in sufficient detail to permit
examination,
audit,
and
verification, as necessary and appropriate for the protection of utility customers with respect to jurisdictional
rates.
(2) Transition period. Until December
31, 2007, service companies in holding
company systems registered under the
Public Utility Holding Company Act of
1935 (15 U.S.C. 79a et seq.) may follow either the Commission’s records retention requirements in parts 125 and 225
of this chapter or the Securities and
Exchange Commission’s records retention rules in 17 CFR part 257.
(3) Nothing in this section shall relieve any service company subject
thereto from compliance with requirements as to record-retention that may
be prescribed by any other regulatory
agency.
(b) Accounting requirements—(1) General. Unless otherwise exempted or
granted a waiver by Commission rule
or order pursuant to §§ 366.3 and 366.4,
beginning January 1, 2008, every centralized service company (See § 367.2 of
this chapter) must maintain and make
available to the Commission such
books, accounts, memoranda, and
other records as the Commission prescribes in part 367 of this chapter, in
sufficient detail to permit examination, audit, and verification, as necessary and appropriate for the protection of utility customers with respect
to jurisdictional rates. Every such
service company must maintain and
make available such books, accounts,

memoranda, and other records in such
manner as are prescribed in part 367 of
this chapter, and must keep no other
records with respect to the same subject matter except:
(i) Records other than accounts;
(ii) Records required by Federal or
State law;
(iii) Subaccounts or supporting accounts which are not inconsistent with
the accounts required either by the
Uniform System of Accounts for Centralized Service Companies in part 367
of this chapter; and
(iv) Any other accounts that may be
authorized by the Commission.
(2) Transition period. Until December
31, 2007, service companies in holding
company systems registered under the
Public Utility Holding Company Act of
1935 (15 U.S.C. 79a et seq.), as described
in paragraph (b)(1) of this section, may
follow either the Commission’s Uniform System of Accounts in parts 101
and 201 of this chapter or the Securities and Exchange Commission’s Uniform System of Accounts in 17 CFR
part 256.
(3) Nothing in this section shall relieve any service company subject
thereto from compliance with requirements as to accounting that may be
prescribed by any other regulatory
agency.
[Order 667–A, 71 FR 28457, May 16, 2006, as
amended by Order 684, 71 FR 65226, Nov. 7,
2006]

§ 366.23 FERC Form No. 60, Annual reports of centralized service companies, and FERC–61, Narrative description of service company functions.
(a) General. (1) FERC Form No. 60. Unless otherwise exempted or granted a
waiver by Commission rule or order
pursuant to §§ 366.3 and 366.4, every centralized service company (see § 367.2 of
this chapter) in a holding company system, regardless of whether that service
company is providing services to a public utility, a natural gas company, or
both, must file an annual report, FERC
Form No. 60, as provided in § 369.1 of
this chapter. Every report must be submitted on the FERC Form No. 60 then
in effect and must be prepared in accordance with the instructions incorporated in that form.

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Federal Energy Regulatory Commission
(2) FERC–61. Unless otherwise exempted or granted a waiver by Commission rule or order pursuant to
§§ 366.3 and 366.4, every service company
in a holding company system, including a special-purpose company (e.g., a
fuel supply company or a construction
company), that does not file a FERC
Form No. 60 shall instead file with the
Commission by May 1, 2007 and by May
1 each year thereafter, a narrative description, FERC–61, of the service company’s functions during the prior calendar year. In complying with this section, a holding company may make a
single filing on behalf of all such service company subsidiaries.
(3) For good cause shown, the Commission may extend the time within
which any such report or narrative description required to be filed pursuant
to paragraphs (a)(1) or (2) of this section is to be filed or waive the requirements applicable to any such report or
narrative description.
(b) Transition period. Service companies in holding company systems exempted from the requirements of the
Public Utility Holding Company Act of
1935 (15 U.S.C. 79a et seq.) need not file
an annual report, FERC Form No. 60,
for calendar years 2005 through 2007,
after which they must comply with the
provisions of this section.
[Order 667–A, 71 FR 28457, May 16, 2006, as
amended by Order 691, 72 FR 5174, Feb. 5,
2007; Order 731, 74 FR 68529, Dec. 28, 2009]

PART 367—UNIFORM SYSTEM OF
ACCOUNTS FOR CENTRALIZED
SERVICE COMPANIES SUBJECT
TO THE PROVISIONS OF THE PUBLIC UTILITY HOLDING COMPANY
ACT OF 2005, FEDERAL POWER
ACT AND NATURAL GAS ACT
Subpart A—Definitions
Sec.
367.1

Pt. 367
367.8 Extraordinary items.
367.9 Prior period items.
367.10 Unaudited items.
367.11 Distribution of pay and expenses of
employees.
367.12 Payroll distribution.
367.13 Accounting to be on accrual basis.
367.14 Transactions with associate companies.
367.15 Contingent assets and liabilities.
367.16 Long-term debt: Premium, discount
and expense, and gain or loss on reacquisition.
367.17 Comprehensive inter-period income
tax allocation.
367.18 Criteria for classifying leases.
367.19 Accounting for leases.
367.20 Depreciation accounting.
367.22 Accounting for asset retirement obligations
367.23 Transactions with non-associate companies.
367.24 Construction and service contracts
for other companies.
367.25 Determination of service cost.
367.26 Departmental classification.
367.27 Billing procedures.
367.28 Methods of allocation.
367.29 Compensation for use of capital.
367.30 Cost allocation system for associate
companies.

Subpart C—Service Company Property
Instructions
367.50 Service company property to be recorded at cost.
367.51 Components of construction.
367.52 Overhead construction costs.
367.53 Service company property purchased
or sold.
367.54 Expenditures on leased property.
367.55 Land and land rights.
367.56 Structures and improvements.
367.57 Equipment.
367.58 Property record system required for
service company property.
367.59 Additions and retirements of property.

Subpart D—Operating Expense Instructions
367.80
367.81
367.82
367.83

Supervision and engineering.
Maintenance.
Rents.
Training costs.

Definitions.

Subpart E—Special Instructions

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Subpart B—General Instructions
367.2 Companies for which this system of
accounts is prescribed.
367.3 Records.
367.4 Numbering system.
367.5 Accounting period.
367.6 Submittal of questions.
367.7 Item list.

367.100 Accounts 131–174, Current and accrued assets.
367.101 Accounts 231–243, Current and accrued liabilities.
367.102 Accounts 408.1 and 408.2, Taxes other
than income taxes.
367.103 Accounts 409.1, 409.2, and 409.3, Income taxes.

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