Topic:"Affiliate Transactions" in M03154

RESPONSIBILITY - 24 Corporate Accounting Services will be responsible for: - a. identifying cost centres that provide services to both NSPI and its affiliates; - b. choosing allocation cost drivers; - c. identifying and calculating an appr...

AI summary The document outlines responsibilities for Corporate Accounting Services and NSPI's Controller regarding cost allocation policies, including identifying cost centers, selecting allocation drivers, and managing overhead distribution to affiliates.

CODE OF CONDUCT 26 SECTION 1.1 – The primary purpose of this Code of Conduct is to ensure that all transactions NSPI enters into with affiliates are designed and carried out in a manner reasonably expected to produce demonstrable benefit t...

AI summary The Code of Conduct mandates that NSPI's affiliate transactions must provide demonstrable customer benefits and ensures fair allocation of corporate support service costs between NSPI and its affiliates, with allocation methods tailored to the nature of each service.

DEFINITIONS - 28 For the purpose of the Cost Allocation Policy and interpretation of this Policy, the following definitions will apply. - 29 Affiliate The Nova Scotia Companies Act defines an Affiliate as: - (1) A company shall be deemed t...

AI summary The text defines key terms under the Cost Allocation Policy, including 'Affiliate' per the Nova Scotia Companies Act, 'Corporate Support Service' as shared functions across NSPI and Emera, and 'Cost Allocation' as methods to apportion costs. Definitions focus on legal structures, corporate services, and cost apportionment frameworks.

APPLICATION - 03 After the separation of the regulated utility business of NSPI and the other businesses of Emera Inc.1 , NSPI segregated its financial data from its affiliates using the "Multi-Org" functionality available within the Oracl...

AI summary NSPI segregated financial data from Emera Inc. using Oracle's 'Multi-Org' functionality, creating a new account structure. This allows decentralized task management, improved expenditure tracking, and automated processes like requisition approvals and purchase order generation.

GENERAL - 01 Nova Scotia Power Inc. ("NSPI") is the primary operating subsidiary of Emera Inc, a diversified energy company based in Halifax, Nova Scotia - For financial reporting purposes, NSPI is organized into cost centers and has speci...

AI summary Nova Scotia Power Inc. (NSPI), a subsidiary of Emera Inc., allocates corporate support services and general expenses fairly between NSPI and its affiliates. The Cost Allocation Policy aligns with NSPI's accounting practices, ensuring costs are attributed appropriately to reflect services provided.

POLICY O5 Section 6.11 of the affiliate Code of Conduct which is approved by the Nova Scotia Utility and Review Board ("UARB") states that the costs of corporate support services will be fairly allocated between NSPI and its affiliates. Th...

AI summary Section 6.11 of the affiliate Code of Conduct, approved by the UARB, mandates fair allocation of corporate support service costs between NSPI and its affiliates, with allocation factors determined by the nature of each service.

SELECTION AND APPLICATION OF ALLOCATION METHODOLOGY - The procedures followed by Corporate Accounting to allocate the corporate support services Operating, Maintenance and General ("OM&G") to affiliates are: - a. Identify cost centres that...

AI summary The document outlines procedures for allocating corporate support services costs (OM&G) to NSPI and its affiliates, including identifying direct and shared costs, selecting allocation methodologies aligned with industry practices, and calculating charges. The process involves interviews with cost centre managers and considers overhead load where applicable.

COST ALLOCATION POLICY - 1570 - Number of Invoices Number of invoices uses the relative proportion of invoices processed for each affiliate. - 17 Number of Journal Lines Number of journal entry lines uses the relative proportion of account...

AI summary The document outlines a cost allocation policy (1570) that distributes costs among affiliates based on metrics like number of invoices, journal lines, vehicles, asset value, total revenue, and service level agreements, using relative proportions for each affiliate.

CODE OF CONDUCT 26 SECTION 1.1 – The primary purpose of this Code of Conduct is to ensure that all transactions NSPI enters into with affiliates are designed and carried out in a manner reasonably expected to produce Deleted: <#>Number of...

AI summary The Code of Conduct mandates that NSPI's affiliate transactions must be structured to produce reasonable outcomes, ensuring compliance with regulatory standards. It emphasizes transparency and alignment with the Utility and Review Board's oversight.

COST ALLOCATION POLICY – 1570 demonstrable benefit to NSPI customers, when compared with all other available options. 27 SECTION 6.11 - The costs of corporate support services will be fairly allocated between NSPI and its affiliates. The a...

AI summary The Cost Allocation Policy outlines how corporate support service costs between NSPI and its affiliates must be fairly allocated based on service nature. Definitions include Affiliate (as per Nova Scotia Companies Act), Corporate Support Service, Cost Allocation, Cost Driver, Common Costs, and Direct Costs. The policy emphasizes demonstrable customer benefits from affiliate transactions.

COST ALLOCATION POLICY – 1570 - 35 Regulated refers to services or products that are subject to price regulation by regulatory authorities. - Non-Regulated refers to services or products that are not subject to price regulation by regulato...

AI summary The document defines 'Regulated' and 'Non-Regulated' services, outlines components of 'Total Capitalization,' and references a deleted provision regarding affiliate capital factors like foreign exchange adjustments and goodwill. It focuses on cost allocation principles under regulatory oversight.

POLICY 05 Section 6.11 of the affiliate Code of Conduct which is approved by the Nova Scotia Utility and Review Board ("UARB") states that the costs of corporate support services will be fairly allocated between NSPI and its affiliates. Th...

AI summary Section 6.11 of the affiliate Code of Conduct, approved by the Nova Scotia Utility and Review Board, outlines the fair allocation of corporate support service costs between NSPI and its affiliates based on the nature of the service.

COMMON COST ALLOCATORS - 11 Where services are provided to a number of affiliates and direct charging is not readily determinable or practical, one or more of the following methods or lIcosts drivers" are used for allocating costs. - 12 Ti...

AI summary The document outlines common cost allocators used for allocating costs among affiliates when direct charging is impractical. Methods include Time Analysis, Project Analysis, Enterprise Employees, and Total Capitalization, each based on different metrics such as time spent, employee numbers, and capital structure.

COST ALLOCATION POLICY - 1570 - 16 Number of Invoices Number of invoices uses the relative proportion of invoices processed for each affiliate. - 17 Number of Journal Lines Number of journal entry lines uses the relative proportion of acco...

AI summary The document outlines a cost allocation policy that uses various metrics such as the number of invoices, journal lines, vehicles, asset value, and total revenue to allocate costs proportionally among affiliates based on their relative contributions.

CODE OF CONDUCT 26 SECTION 1.1 - The primary purpose of this Code of Conduct is to ensure that all transactions NSPI enters into with affiliates are designed and carried out in a manner reasonably expected to produce

AI summary This section of the Code of Conduct outlines the primary purpose of ensuring that all transactions NSPI enters into with affiliates are designed and carried out in a manner reasonably expected to produce fair and equitable outcomes.

DEFINITIONS - 28 For the purpose of the Cost Allocation Policy and interpretation of this Policy, the following definitions will apply. - 29 Affiliate The Nova Scotia Companies Act defines an Affiliate as: - (1) A company shall be deemed t...

AI summary This section defines key terms related to cost allocation and corporate structure under the Cost Allocation Policy. It outlines definitions such as 'Affiliate,' 'Corporate Support Service,' 'Cost Allocation,' 'Cost Driver,' 'Common Costs,' and 'Direct Costs' to ensure clarity in interpreting and applying the policy.

- 6940A - An overhead charge will apply to labour costs of Nova Scotia Power Inc. ("NSPI") employees outside of the corporate support groups relating to affiliate or non-regulated activities. This charge is designed to recover all administ...

AI summary An overhead charge is applied to Nova Scotia Power Inc. employees' labour costs for activities outside corporate support groups. This charge aims to recover administrative costs associated with affiliate or non-regulated activities, ensuring ratepayers are not negatively impacted. The overhead application rate is calculated using various OM&G expense accounts and reviewed annually by Corporate Accounting Services.

DEFINITION 01 The authorized preferred share capital consists of an unlimited number of first and second preferred shares issuable in series. These shares shall have the designations, rights, privileges, restrictions and conditions as dete...

AI summary The authorized preferred share capital of the company includes an unlimited number of first and second preferred shares, which can be issued in series with designations, rights, privileges, restrictions, and conditions determined by the Board of Directors' resolutions.

POLICY 05 Section 6.11 of the affiliate Code of Conduct which is approved by the Nova Scotia Utility and Review Board ("UARB") states that the costs of corporate support services will be fairly allocated between NSPI and its affiliates. Th...

AI summary Section 6.11 of the affiliate Code of Conduct, approved by the Nova Scotia Utility and Review Board, mandates the fair allocation of corporate support service costs between NSPI and its affiliates, with the allocation factor depending on the nature of the service.

CODE OF CONDUCT 26 SECTION 1.1 – The primary purpose of this Code of Conduct is to ensure that all transactions NSPI enters into with affiliates are designed and carried out in a manner reasonably expected to produce demonstrable benefit t...

AI summary This section of the Code of Conduct outlines the requirement for NSPI to ensure that transactions with affiliates provide demonstrable benefits to customers and that corporate support service costs are fairly allocated between NSPI and its affiliates.

DEFINITIONS - 28 For the purpose of the Cost Allocation Policy and interpretation of this Policy, the following definitions will apply. - 29 Affiliate The Nova Scotia Companies Act defines an Affiliate as: - (1) A company shall be deemed t...

AI summary This section defines key terms related to cost allocation and corporate structure under the Cost Allocation Policy. It outlines definitions for affiliate, corporate support services, cost allocation, cost drivers, common costs, and direct costs, with a focus on regulatory and accounting clarity.

POLICY 05 Section 6.11 of the affiliate Code of Conduct which is approved by the Nova Scotia Utility and Review Board ("UARB") states that the costs of corporate support services will be fairly allocated between NSPI and its affiliates. Th...

AI summary Section 6.11 of the affiliate Code of Conduct, approved by the Nova Scotia Utility and Review Board, outlines the fair allocation of corporate support service costs between NSPI and its affiliates, with the allocation factor depending on the nature of the service.

COMMON COST ALLOCATORS - 11 Where services are provided to a number of affiliates and direct charging is not readily determinable or practical, one or more of the following methods or lIcosts drivers" are used for allocating costs. - 12 Ti...

AI summary The document outlines methods for allocating common costs among affiliates of Nova Scotia Power Inc. (NSPI), including Time Analysis, Project Analysis, Enterprise Employees, and Total Capitalization, each based on different metrics such as labor hours, employee count, and capital structure.

OVERHEAD ALLOCATION - 22 An overhead load will be charged to NSPl's affiliates to cover indirect support costs not captured in the corporate support group cost centres. - 23 Included in the overhead load are depreciation and carrying charg...

AI summary The document discusses the allocation of overhead costs to NSPI's affiliates, including depreciation, rent, IT support, and incentives, to cover indirect support costs not captured in the corporate support group cost centres.

CODE OF CONDUCT 26 SECTION 1.1 - The primary purpose of this Code of Conduct is to ensure that all transactions NSPI enters into with affiliates are designed and carried out in a manner reasonably expected to produce

AI summary The Code of Conduct outlines the primary purpose of ensuring that all transactions between NSPI and its affiliates are designed and carried out in a manner reasonably expected to produce fair and equitable results.

DEFINITIONS - 28 For the purpose of the Cost Allocation Policy and interpretation of this Policy, the following definitions will apply. - 29 Affiliate The Nova Scotia Companies Act defines an Affiliate as: - (1) A company shall be deemed t...

AI summary This section defines key terms related to cost allocation and corporate structure as outlined in the Cost Allocation Policy. It includes definitions of 'Affiliate,' 'Corporate Support Service,' 'Cost Allocation,' 'Cost Driver,' 'Common Costs,' and 'Direct Costs' to ensure consistent interpretation and application.