Every public utility, except a utility operated by an affected county, shall keep uniform accounts as prescribed by the commission of all business transacted. The classification of utilities, index of accounts, definitions, and general instructions pertaining to each uniform system of accounts, as amended from time to time, shall be adhered to at all times, unless provided otherwise by these sections or by rules of a federal regulatory body having jurisdiction over the utility, or unless specifically permitted by the commission.

1. (1) System of accounts. For the purpose of accounting and reporting to the commission, each public water and/or sewer utility shall maintain its books and records in accordance with the following prescribed uniform system of accounts:

   1. (A) Class A Utility, as defined by §24.3(15) of this title (relating to Definitions of Terms); the uniform system of accounts as adopted and amended by the (NARUC) for a utility classified as a NARUC Class A utility.
   2. (B) Class B Utility, as defined by §24.3(16) of this title; the uniform system of accounts as adopted and amended by NARUC for a utility classified as a NARUC Class B utility.
   3. (C) Class C Utility, as defined by §24.3(17) of this title; the uniform system of accounts as adopted and amended by for a utility classified as a NARUC Class C utility.
2. (2) Accounting period. Each utility shall keep its books on a monthly basis so that for each month all transactions applicable thereto shall be entered in the books of the utility.

Source Note:The provisions of this §24.127 adopted to be effective October 17, 2018, 43 TexReg 6826.