N.Y. Comp. Codes R. & Regs. tit. 16, § 196.0 – Order authorizing uniform system of accounts for municipal electric utilities.

(a) The uniform system of accounts for municipal electric utilities is hereby prescribed for every municipality operating an electric plant subject to the jurisdiction of this commission, and every such municipality be required and hereby is required, on and after March 1, 1936, to keep its records and accounts in conformity therewith, with the option of adopting and placing in effect such system of accounts at the beginning of the fiscal year of any municipality next preceding such date.
(b) Any municipality may, for purposes of comparison with prior years keep on its books, in addition to the accounts hereby prescribed, such portion or portions of its present accounts as may be deemed desirable.
(c) Each municipality for which this uniform system of accounts is prescribed shall classify, set forth, and carry all assets, liabilities, and surplus existing as of the effective date of this uniform system of accounts as prescribed in such system of accounts.
(d) Each municipality shall prepare and file in triplicate with the commission not later than six months after the effective date of this uniform system of accounts, summary statements showing:
1. (1) The closing balance of each balance sheet account under the system of accounts followed prior to the adoption of the system of accounts prescribed herein, the title of each account under this system of accounts to which any portion thereof was transferred, and the amount so transferred, and (2) the opening balance of each account under this system of accounts, the title of each account from which any portion thereof was transferred, and the amount so transferred.
2. (2) Reserves or portions thereof existing at the effective date of this system of accounts which had been accumulated through charges to operating expenses wholly or partly to provide for retirement losses, depreciation, amortization, or replacement of fixed capital shall be transferred to the accounts prescribed herein for depreciation and amortization reserves.
(e) Each municipality shall immediately proceed to redistribute the balances in its fixed capital accounts so as to bring the classification of such property into conformity with the operating property or other accounts prescribed in this system of accounts. Summary statements of the journal entries necessary for such redistribution shall be filed with the commission in triplicate not later than six months after the effective date of this uniform system of accounts. These statements shall be so arranged as to show:
1. (1) the closing balance of each fixed capital account under the system of accounts previously followed, the title of each account under this system of accounts to which any portion thereof was transferred, and the amount so transferred, and (2) the opening balance of each account under this system of accounts, the title of each account from which any portion thereof was transferred, and the amount so transferred.
(f) In prescribing this system of accounts, the commission does not commit itself to the approval or acceptance of any item set out in any account, for the purpose of fixing rates or in determining other matters before the commission. The prescribed system of accounts is designed to set out the facts in connection with the financing, construction, income, expenditures, and transactions between the electric utility and the municipality itself or any other department thereof, etc., and therefrom the commission will determine, in connection with such matters as may be under advisement from time to time, just what consideration shall be given to the various items in the several accounts.