N.Y. Comp. Codes R. & Regs. tit. 16, § 197.20 – Operating property accounts, purpose of.

(a) The operating property accounts are designed to show the original cost (see § 196.1, subd. [a][33]) of property used (see § 196.1, subd. [a][43]) in operations, which ordinarily has a service life of more than one year. Operating property used in common by the municipal electric utility and by another department of the operating municipality shall be included in the operating property accounts if the major use is by the electric utility. This shall govern even if the property was acquired through the use of general municipal funds, in which case credit therefor shall be to account 280, Contributions—Operating Municipality.
(b) Every debit or credit to operating property accounts shall be made so as to be readily identifiable with the particular item or items of property to which it relates. When two or more items are acquired under a single undivided contract the records shall show that fact, and shall also show the portion thereof fairly applicable to each such item. (See § 197.22.)
(c) When property ordinarily having a service life of more than one year is installed for temporary use in operations, it shall be accounted for in the same manner as property having a service life of more than one year.
Note:
Portable articles purchased from another public utility, but not acquired as a part of a going plant, may be charged to appropriate accounts at cost to the purchasing utility.