Topic:"Affordability" in M03154

LONG LIVED ASSETS TO BE DISPOSED OF BY SALE – 6360

AI summary The document discusses the disposal of long-lived assets through sale, referencing Nova Scotia Power Inc. and the Utility and Review Board. It includes an image but no further details on the assets or the sale process.

Deleted: c 334 CS&M D.S.M. Receivable 340 Financial Derivative Receivable Deleted: Oil Swap 348 Contract Receivable Deleted: Arbitration Contract 350 Accrued Interest Receivable 353 Water Heater Loans

AI summary The text includes a table with various receivables and deleted items, such as 'Oil Swap' and 'Arbitration Contract,' and mentions 'Water Heater Loans' under item 353. These entries suggest financial and contractual matters under consideration.

10 Allowance for Doubtful Accounts The allowance for doubtful accounts is calculated and adjusted monthly to reflect the Company's best estimate of uncollectible receivables. Large industrial and commercial accounts are assessed for collec...

AI summary The allowance for doubtful accounts is calculated monthly to estimate uncollectible receivables, with large accounts assessed individually and others based on aged listings. Factors include the age of outstanding amounts, write-offs, and recovery percentages. The account is recorded under general ledger 339.

DEFINITIONS - 03 Derivative instruments designed to mitigate the risk of the Company's exposure to changes in market prices of, for example, natural gas, oil, coal & other commodities, interest rates, and foreign currency exchange rates, w...

AI summary The text defines key financial and accounting terms related to derivative instruments, hedging, and fair market value. It outlines what constitutes a derivative instrument, how hedging relationships are established, and the principles of hedge accounting.

PREFERRED DIVIDENDS - 7320

AI summary The document discusses preferred dividends under the matter number 7320, likely in the context of regulatory proceedings involving Nova Scotia Power Inc. and related financial considerations.

GENERAL 04 Specific assets and liabilities of the Company are subject to terms and conditions under six agreements: Asset Transfer Agreement, Matching Notes Agreement, Debt Restructuring Agreement, Sinking Fund Notes Agreement, Sale and As...

AI summary The Company's specific assets and liabilities, including Sinking Fund Notes receivable and Matching Notes payable, were established under agreements from the 1992 privatization. These were required to be refinanced by December 31, 1997.

01 Includes all accrued and/or declared dividends on both common and preferred shares.1 1 Please refer to Sections 7120 and 7320.

AI summary The text references accrued and declared dividends on both common and preferred shares, with a note to refer to Sections 7120 and 7320 for further details.

PROCEDURES Deleted: <#>CICA Handbook Section 3865 Hedges 19 Hedge accounting should apply to all hedging activities of the Company in order to ensure gains, losses, revenues and expenses on hedging and hedged items are recognized in the sa...

AI summary The text discusses procedures related to hedge accounting for the Company, emphasizing the application of hedge accounting to ensure proper recognition of gains, losses, revenues, and expenses on hedging and hedged items in the same period(s).

POLICIES - 02 Source documents including, but not limited to, purchase orders, invoices, cancelled cheques, requests for cheques, and receipts should be retained for a minimum of seven years to comply with income tax regulations. Acceptabl...

AI summary This section outlines document retention policies for financial records, specifying a seven-year retention period for source documents and two years for internal documents. It also describes the objective of a Statement of Cash Flows, which is to provide information about an entity's cash flows to help investors and creditors assess financial performance and obligations.

PURCHASE PRICE DISCREPANCY - 6250

AI summary The document discusses a purchase price discrepancy related to a Nova Scotia Power Inc. (NSPI) transaction, likely involving accounting standards and regulatory oversight. It includes references to US GAAP and Nova Scotia Utility and Review Board (UARB) processes, suggesting a regulatory review of financial practices.

DEFINITIONS - Receivables are claims held against others for money, goods, or services. They are further classified as trade receivables and non-trade receivables. Trade receivables are amounts owed by customers for goods and services rend...

AI summary The document defines receivables, including trade and non-trade receivables, and explains the allowance for doubtful accounts. NSPI subclassifies non-trade receivables into business, employee, and miscellaneous categories. Receivables are classified as financial instruments for accounting purposes.

GENERAL - The Company maintains contributory defined-benefit and defined-contribution pension plans that cover substantially all employees, and plans providing non-pension benefits for its retirees. - The defined-benefit pension plans are...

AI summary The Company offers defined-benefit and defined-contribution pension plans for employees, along with non-pension benefits for retirees. Defined-benefit plans are indexed annually based on the Consumer Price Index, up to a maximum of 6% per year. Other retirement benefits include unfunded pension arrangements, long service awards, and contributory health care plans. The measurement date for these plans is December 31.

POLICIES - Pension obligations and obligations associated with non-pension post-retirement benefits such as health benefits to retirees and retirement awards, are actuarially determined using the projected benefit method prorated on servic...

AI summary The text discusses the accounting policies related to pension obligations and post-retirement benefits for Nova Scotia Power Inc. It outlines how these obligations are actuarially determined, the amortization of adjustments, and the recognition of plan surpluses and deficits on the balance sheet.

EMPLOYEE FUTURE BENEFITS - 2400

AI summary The document provides information on employee future benefits, likely related to pension or retirement plans, under the Nova Scotia Power Inc. (NSPI) context. It includes details on financial obligations and accounting standards.

01 Financing charges The financing charges figure on the Statement of Earnings is a net amount comprised of several different income and expense items. The individual items may include: - a. long-term debt interest; - b. amortization of de...

AI summary The financing charges figure on the Statement of Earnings includes various income and expense items such as long-term and short-term debt interest, amortization of debt issue costs, foreign exchange gains/losses, and others. It also includes deferred carrying charges related to DSM and FAM approved by the UARB, as well as interest income from non-electricity-related activities.

PROVINCIAL INCOME TAXES 07 The Company is subject to provincial income tax at prescribed rates applied to taxable income.

AI summary Nova Scotia Power Inc. is subject to provincial income tax at prescribed rates applied to its taxable income.

PART VI.1 TAX The Company is subject to Part VI.1 tax at a prescribed rate applied to preferred share dividends paid. The Company receives a tax deduction equal to a prescribed multiple of the Part VI.1 tax. Deleted: 01 The taxes payable m...

AI summary The Company is subject to Part VI.1 tax on preferred share dividends, with a tax deduction based on a prescribed multiple of the tax. The text includes deleted content and references to accounting standards and dates.

APPLICATION OF ADMINISTRATIVE AND VEHICLE OVERHEAD (SELF - CONSTRUCTED ASSETS) - 6230

AI summary The document discusses the application of administrative and vehicle overhead for self-constructed assets, specifically referencing Nova Scotia Power Inc. (NSPI) and the Nova Scotia Utility and Review Board (UARB). It includes references to accounting standards and regulatory processes.

APPLICATION OF ADMINISTRATIVE OVERHEAD (CONTRACTED ASSETS) - 6235

AI summary The document discusses the application of administrative overhead for contracted assets, likely involving financial and regulatory considerations related to Nova Scotia Power Inc. and the Nova Scotia Utility and Review Board.

POLICY Dividends to preferred shareholders and the associated income tax expense (benefit) are accrued as declared and the dividends are paid based on approved Board of Directors' resolutions.

AI summary The text discusses the accrual and payment of dividends to preferred shareholders, which are based on approved Board of Directors' resolutions and associated income tax expenses.

MATCHING NOTES - 11 Matching Notes will remain on the books of the Company until such time as it makes payment of the principal amount of Matching Notes that mature or are redeemable prior to December 31, 1997, to NSPFC. NSPFC, upon receip...

AI summary The document outlines the accounting and management procedures for Matching Notes held by the Company, including their handling upon maturity, defeasance, and the role of NSPFC in repaying obligations. The process involves transferring funds, releasing assets, and ensuring proper accounting treatment.

LIABILITIES INCOME TAXES PAYABLE - 8300 01 Includes all income taxes payable to both levels of government. 1 Deleted: August 10, 2006 & lt;sup>1 Please refer to NSPI Accounting Policy and Procedures Manual Section 5900. September 23,2010 M...

AI summary The letter from Grant Thornton LLP confirms that the accounting policies and procedures of Nova Scotia Power Inc. (NSPI) align with US GAAP for regulated entities. The review was conducted on the policies outlined in the NSPI Accounting Policies and Procedures Manual, with a focus on sections related to income taxes payable and other accounting practices.

8) Re: Inventories - 6700 Policy 05 talks about physical counts being done annually, whereas Policy 10 talks about quarterly physical accounts. Should this be consistent in both places? If not please explain why the difference (material, o...

AI summary The document discusses the differences in inventory counting policies for material and fuel, noting that material inventory is counted on a rotating basis while coal and oil are counted quarterly and monthly, respectively. The rationale is based on the varying nature of the inventories.

9) Re: Pertaining to Earnings -7200 How come there is no entry to retained earnings for the dividends on preferred shares? Submission 2 which includes this policy does not clarify. Under Canadian GAAP, NSPI's preferred shares are not consi...

AI summary The document discusses accounting treatment of preferred shares under Canadian and US GAAP, and a correction to a policy regarding asset retirement obligations. Nova Scotia Power Inc. clarifies that preferred shares are treated as debt under Canadian GAAP and as mezzanine equity under US GAAP. A typographical error in a policy is corrected, changing 'Asst' to 'Asset'.

ADMINISTRATION - 05 To exercise control over the contents and use of this manual, the following procedures will be followed: - a. This manual will be published on the NSPI intranet as read-only under Corporate Controller's Policies - "NSPI...

AI summary The administration section outlines procedures for controlling and updating the NSPI Accounting Policy & Procedures Manual, including publishing it on the NSPI intranet, seeking UARB approval for updates, and annual reviews by external auditors.

POLICIES - 02 Source documents including, but not limited to, purchase orders, invoices, cancelled cheques, requests for cheques, and receipts should be retained for a minimum of seven years to comply with income tax regulations. Acceptabl...

AI summary The document outlines document retention policies, specifying that source documents must be retained for seven years, external auditors' information for one year with two years of historical data accessible, and internal documents for two years. These policies are aimed at compliance with income tax regulations and internal usage.

POLICY - 02 The statement of cash flows shall report the cash effects during a period of an entity's operations, its investing transactions, and its financing transactions. 2 - 03 Nova Scotia Power Inc. ("NSPI") applies the indirect method...

AI summary The document outlines the requirements for the statement of cash flows under Nova Scotia Power Inc.'s accounting practices, including the use of the indirect method and disclosure of specific cash flow items as per FASB ASC 230.

POLICIES - 01 The functional currency of the company is Canadian dollars. Monetary assets and liabilities denominated in a foreign currency are converted to the functional currency at the rate of exchange prevailing on each balance sheet d...

AI summary The policies outlined define the functional currency as Canadian dollars and detail the accounting treatment for foreign currency transactions, including conversion rates, recognition of exchange gains and losses, and handling of hedged transactions.

GENERAL - 01 The Company maintains contributory defined-benefit and defined-contribution pension plans that cover substantially all employees, and plans providing non-pension benefits for its retirees. - 02 The defined-benefit pension plan...

AI summary The Company provides defined-benefit and defined-contribution pension plans for employees and retirees, with indexing based on the Consumer Price Index. Other retirement benefits include unfunded pension arrangements and health care plans, with measurement dates set to December 31.

POLICIES - 05 Pension obligations and obligations associated with non-pension post-retirement benefits such as health benefits to retirees and retirement awards, are actuarially determined using the projected benefit method prorated on ser...

AI summary The text outlines Nova Scotia Power Inc.'s policies for actuarially determining pension obligations, handling adjustments, calculating pension fund asset values, and accounting for surpluses and deficits. It also mentions the adoption of US accounting standards for employee future benefits.

DEFINITIONS - 01 Receivables are claims held against others for money, goods, or services. They are further classified as trade receivables and non-trade receivables. Trade receivables are amounts owed by customers for goods and services r...

AI summary The document defines receivables, distinguishing between trade and non-trade receivables, and explains the allowance for doubtful accounts as a contra account used to estimate uncollectible receivables. It also notes that receivables are classified as financial instruments in accounting.

12 Allowance for Doubtful Accounts The allowance for doubtful accounts is calculated and adjusted monthly to reflect the Company's best estimate of uncollectible receivables. Large industrial and commercial accounts are assessed for collec...

AI summary The Allowance for Doubtful Accounts is calculated monthly based on the company's estimate of uncollectible receivables. Large accounts are assessed individually, while others are evaluated using aged listings and historical data factors like age of outstanding amounts and recovery percentages.

CURRENT ASSETS

AI summary The section 'CURRENT ASSETS' introduces the topic of current assets, which are short-term assets expected to be converted into cash within a year. This section likely includes details on liquidity, working capital, and asset management strategies.

CURRENT ASSETS

AI summary The section 'CURRENT ASSETS' introduces the topic of current assets, which are short-term assets expected to be converted into cash within a year. This section likely includes details on liquidity, working capital, and asset management strategies.

INCOME TAXES PAYABLE - 8300 01 Includes all income taxes payable to both levels of government. 1 1 Please refer to NSPI Accounting Policy and Procedures Manual Section 5900.

AI summary The section discusses income taxes payable to both federal and provincial governments, referencing the NSPI Accounting Policy and Procedures Manual Section 5900 for further details.

POLICY - 01 Includes all accrued and/or declared dividends on both common and preferred shares. 1 - 02 Dividends payable for cumulative preferred shares are in accordance with the terms of the preferred shares. 1 Please refer to NSPI Accou...

AI summary The text outlines the inclusion of accrued and declared dividends on common and preferred shares, with specific reference to NSPI's accounting policies for cumulative preferred shares.

GENERAL - The Company maintains contributory defined-benefit and defined-contribution pension plans that cover substantially all employees, and plans providing non-pension benefits for its retirees. - The defined-benefit pension plans are...

AI summary The Company provides pension and retirement benefits to its employees and retirees, including defined-benefit and defined-contribution plans. Defined-benefit plans are indexed annually based on the Consumer Price Index, up to a 6% cap, and other plans include unfunded pensions and health care.

POLICIES - Pension obligations and obligations associated with non-pension post-retirement benefits such as health benefits to retirees and retirement awards, are actuarially determined using the projected benefit method prorated on servic...

AI summary The document outlines how Nova Scotia Power Inc. (NSPI) calculates and accounts for pension obligations and post-retirement benefits, including actuarial assumptions, amortization methods, and the recognition of plan surpluses and deficits on the balance sheet.

01 Financing charges The financing charges figure on the Statement of Earnings is a net amount comprised of several different income and expense items. The individual items may include: - a. long-term debt interest; - b. amortization of de...

AI summary The financing charges on the Statement of Earnings include various income and expense items such as long-term and short-term debt interest, amortization of debt issue costs, foreign exchange gains/losses, and others. These items are netted together and include components like the debt portion of AFUDC and deferred carrying charges from DSM and FAM programs approved by the UARB.

APPLICATION OF ADMINISTRATIVE OVERHEAD (CONTRACTED ASSETS) - 6235

AI summary The document discusses the application of administrative overhead related to contracted assets, likely involving Nova Scotia Power Inc. and the Nova Scotia Utility and Review Board. It includes references to accounting principles and regulatory processes.

ASSET RETIREMENTOBLIGATIONS (ARO) - 6320

AI summary The document discusses Asset Retirement Obligations (ARO) under the Nova Scotia Power Inc. (NSPI) context, focusing on accounting standards and regulatory considerations related to long-term liabilities for asset retirement.

MATCHING NOTES - 11 Matching Notes will remain on the books of the Company until such time as it makes payment of the principal amount of Matching Notes that mature or are redeemable prior to December 31, 1997, to NSPFC. NSPFC, upon receip...

AI summary The document outlines the accounting and procedural handling of Matching Notes by the Company and NSPFC. It details how Matching Notes are managed, including their conversion to contingent liabilities upon defeasance, the process for transferring funds upon maturity or redemption, and the release of sinking fund assets. The Company remains responsible for any deficiencies in defeasance assets.

National Instrument 52-107 The Canadian Securities Administrators' securities regulation entitled National Instrument 52-107 Acceptable Accounting Principles and Auditing Standards ("NI 52- 1 07"), which has been adopted by the Nova Scotia...

AI summary National Instrument 52-107 allows NSPI to prepare financial statements under US GAAP if it is an SEC issuer. NSPI became an SEC issuer after filing a registration statement under the U.S. Securities Act in July of this year.

Conclusion As a result of the forgoing, NSPI is now an SEC issuer with the reporting obligations associated with being a foreign private issuer in the U.S., and is thereby permitted pursuant to applicable Canadian securities regulations an...

AI summary Nova Scotia Power Inc. (NSPI) has become an SEC issuer, allowing it to report financial results using US GAAP under Canadian securities regulations and Nova Scotia law. The submission was accepted by the U.S. SEC, with details provided about the filing and access to the EDGAR system.

Tel: (416) 865-0200 Fax: (416) 865-0887 www.bdo.ca BDO Canada LLP Royal Bank Plaza, South Tower 200 Bay Street. 33rd Floor PO Box 32 Toronto, ON M5J 2J8 Canada December 9th, 2010 Nancy McNeil Regulatory Affairs Officer/Clerk Nova Scotia Ut...

AI summary BDO Canada LLP confirms that the proposed changes to Nova Scotia Power Inc.'s Accounting Policies and Procedures Manual do not appear unreasonable or provide an unfair advantage. The report highlights differences between US GAAP and Canadian GAAP, particularly regarding termination costs, employee benefits, and investment tax credits. BDO recommends monitoring the first US GAAP statements for transitional changes.

POLICIES - 02 Source documents including, but not limited to, purchase orders, invoices, cancelled cheques, requests for cheques, and receipts should be retained for a minimum of seven years to comply with income tax regulations. Acceptabl...

AI summary The document outlines retention periods for various types of financial and internal documents, emphasizing compliance with tax regulations and accessibility for internal use. Source documents should be retained for seven years, while external auditors' information requires one year of retention. Internal documents not directly related to financial transactions should be kept for at least two years.

POLICY - 02 The statement of cash flows shall report the cash effects during a period of an entity's operations, its investing transactions, and its financing transactions.2 - 03 Nova Scotia Power Inc. ("NSPI") applies the indirect method...

AI summary The document outlines the requirements for the statement of cash flows under Nova Scotia Power Inc.'s accounting practices, specifying the use of the indirect method and adherence to FASB ASC 230 guidelines. It lists the mandatory disclosures, including cash from operations, discontinued operations, and debt-related transactions.

GENERAL - 01 The Company maintains contributory defined-benefit and defined-contribution pension plans that cover substantially all employees, and plans providing non-pension benefits for its retirees. - 02 The defined-benefit pension plan...

AI summary The Company provides various retirement benefit plans for employees and retirees, including defined-benefit and defined-contribution pension plans, unfunded pension arrangements, and contributory health care plans. These plans are measured annually as of December 31.

POLICIES - 05 Pension obligations and obligations associated with non-pension post-retirement benefits such as health benefits to retirees and retirement awards, are actuarially determined using the projected benefit method prorated on ser...

AI summary The text outlines the accounting and actuarial methods used by Nova Scotia Power Inc. for pension obligations and post-retirement benefits. It describes how obligations are determined, adjusted, and amortized, as well as the recognition of plan surpluses and deficits on financial statements.

COST COMPONENTS AND ELEMENTS - 6140 Net proceeds from the sale of buildings Environmental Assessment

AI summary The document discusses the net proceeds from the sale of buildings and includes an environmental assessment as part of the cost components and elements section.

APPLICATION OF ADMINISTRATIVE OVERHEAD (CONTRACTED ASSETS) - 6235

AI summary The document pertains to the application of administrative overhead for contracted assets, likely involving financial and regulatory considerations related to Nova Scotia Power Inc. and the Nova Scotia Utility and Review Board.

ASSET RETIREMENTOBLIGATIONS (ARO) - 6320

AI summary The document discusses Asset Retirement Obligations (ARO) under the Nova Scotia Utility and Review Board (UARB). It includes references to accounting standards and regulatory frameworks applicable to Nova Scotia Power Inc. (NSPI) and Nova Scotia Power Corporation (NSPC).

DEFINITIONS - 01 Receivables are claims held against others for money, goods, or services. They are further classified as trade receivables and non-trade receivables. Trade receivables are amounts owed by customers for goods and services r...

AI summary The text defines receivables, including trade and non-trade receivables, and explains the allowance for doubtful accounts as a contra account used to estimate uncollectible receivables. It also notes that receivables are classified as financial instruments in accounting.

12 Allowance for Doubtful Accounts The allowance for doubtful accounts is calculated and adjusted monthly to reflect the Company's best estimate of uncollectible receivables. Large industrial and commercial accounts are assessed for collec...

AI summary The allowance for doubtful accounts is calculated monthly based on the Company's estimate of uncollectible receivables. Large accounts are assessed individually, while others use aged listings and historical data to determine uncollectible rates.

ACCOUNTS PAYABLE AND ACCRUED CHARGES - 8220

AI summary The document discusses accounts payable and accrued charges related to Nova Scotia Power Inc. and other entities, highlighting financial obligations and accounting standards relevant to the regulatory proceeding.

POLICIES - 02 Source documents including, but not limited to, purchase orders, invoices, cancelled cheques, requests for cheques, and receipts should be retained for a minimum of seven years to comply with income tax regulations. Acceptabl...

AI summary The document outlines retention policies for financial and internal documents, specifying a seven-year retention period for source documents and two years for internal documents not directly tied to financial transactions, to comply with tax regulations and support internal usage.

POLICY - 02 The statement of cash flows shall report the cash effects during a period of an entity's operations, its investing transactions, and its financing transactions. 2 - 03 Nova Scotia Power Inc. ("NSPI") applies the indirect method...

AI summary The text outlines the requirements for the statement of cash flows under Nova Scotia Power Inc. (NSPI), including the use of the indirect method and specific disclosures required in the financial statements.

STATEMENT OF CASH FLOW - 2100 - g. the payment of dividends on common shares; and - h. cash and cash equivalents.

AI summary This section of the Statement of Cash Flow outlines items related to the payment of dividends on common shares and the reporting of cash and cash equivalents.

GENERAL - 01 The Company maintains contributory defined-benefit and defined-contribution pension plans that cover substantially all employees, and plans providing non-pension benefits for its retirees. - 02 The defined-benefit pension plan...

AI summary The Company provides various retirement benefit plans for employees and retirees, including defined-benefit and defined-contribution pension plans, as well as unfunded pension arrangements and health care plans. These plans are measured annually as of December 31.

POLICIES - 05 Pension obligations and obligations associated with non-pension post-retirement benefits such as health benefits to retirees and retirement awards, are actuarially determined using the projected benefit method prorated on ser...

AI summary The text outlines the accounting policies related to pension obligations and post-retirement benefits for Nova Scotia Power Inc. It discusses how these obligations are actuarially determined, adjustments are amortized, and how pension fund assets are valued. It also mentions the adoption of US accounting standards and the recognition of plan surpluses and deficits.

EMPLOYEE FUTURE BENEFITS - 2400 - 11 Actuarial valuations are performed annually for all plans. - 12 Pension expense, as determined in the annual actuarial valuation, is charged to both operating departments and corporate adjustments. - 13...

AI summary The document outlines the management and funding of employee future benefits, specifically pension plans. Annual actuarial valuations determine pension expenses and funding, with contributions and administrative expenses managed by NSPI and fund managers. Quarterly financial statements track pension fund performance and transactions.

ACCOUNT STRUCTURE - 3100

AI summary This section discusses the account structure related to Nova Scotia Power Inc. (NSPI) and includes references to accounting standards and systems used for financial reporting.

Land and Land Rights - 03 Includes the cost of land owned and the rights, interests and privileges held by the Company in land owned by others. Land and land rights shall be classified within the function according to the major purpose for...

AI summary The text outlines accounting guidelines for land and land rights, including how costs are apportioned, when charges are applied to land accounts, and how proceeds from land sales are handled. Key points include deferred payments, appraisal of land and buildings, and the treatment of surplus land.

Buildings, Structures and Grounds - 04 Includes the installed cost of all permanent structures, services and improvements used to house, support, or safeguard property or persons. Also includes those items that are permanently attached to...

AI summary The document outlines the accounting treatment for buildings, structures, and grounds, including cost apportionment, demolition, grading, and excavation. It specifies how costs should be allocated between land and buildings, and under which accounts various expenses and revenues should be recorded.

Street Lighting 23 Includes the installed cost of all equipment used entirely for the unmetered street and highway lighting systems.

AI summary The text refers to the inclusion of the installed cost of all equipment used entirely for the unmetered street and highway lighting systems.

APPLICATION OF ADMINISTRATIVE OVERHEAD (CONTRACTED ASSETS) - 6235

AI summary The document discusses the application of administrative overhead related to contracted assets, likely involving accounting practices and regulatory considerations. It includes references to Nova Scotia Power Inc. and the Nova Scotia Utility and Review Board, with potential implications for financial reporting and regulatory compliance.

DEFINITION 01 Purchase price discrepancy is the excess of the cost of acquired assets over the net of the amount assigned to assets acquired and liabilities assumed as approved by the Nova Scotia Utility and Review Board ("UARB").

AI summary The term 'purchase price discrepancy' refers to the difference between the cost of acquired assets and the net value of assets acquired and liabilities assumed, as approved by the Nova Scotia Utility and Review Board.

GENERAL - 01 There may be times when the amount of cash on deposit in Nova Scotia Power Inc.'s ("NSPI's") bank accounts exceeds the amount determined necessary for daily operations. These surpluses usually arise on those days during which...

AI summary NSPI may have excess cash in its bank accounts that is not needed for daily operations. This occurs when short-term borrowings are not due for repayment or when long-term debt or equity proceeds are received but not yet invested. NSPI invests these surpluses in short-term investments to maximize interest income.

- 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 the labour costs of Nova Scotia Power Inc. (NSPI) employees outside of corporate support groups for affiliate or non-regulated activities. This is to recover administrative costs not specifically identifiable with these activities, ensuring ratepayers are not adversely affected. The overhead application rate is calculated using various OM&G expense accounts and should be reviewed annually by Corporate Accounting Services.