Topic:"Corporate Adjustments" in M03154

ACT OF INCORPORATION - 04 NSPI was incorporated under the name International Engineering Services Limited on July 13, 1984 pursuant to the Companies Act of Nova Scotia. On May 11, 1992, its name was changed to Nova Scotia Power Inc. - 05 I...

AI summary NSPI was incorporated in 1984 as International Engineering Services Limited, later renamed Nova Scotia Power Inc. in 1992. In 1992, NSPC's business was transferred to NSPI, and in 1999, a reorganization separated NSPI's regulated utility business, leading to Emera Inc. in 2000.

POLICY - 01 The Audit Committee of the Board of Directors should be comprised of a minimum of three Directors, none of whom are officers or employees of the Company. - 02 As directed by the UARB in its Order NSUARB-NSPI-P-875 dated Decembe...

AI summary The Audit Committee of the Board of Directors must include at least three non-officer directors. NSPI is required to use a different audit firm than Emera Inc., with a separate audit committee chair, as mandated by UARB Order NSUARB-NSPI-P-875 (2002).

GENERAL - 01 Nova Scotia Power Inc. (NSPI) is the primary operating subsidiary of Emera Inc, a diversified energy company based in Halifax, Nova Scotia. Emera invests in electricity generation, transmission and distribution as well as gas...

AI summary Nova Scotia Power Inc. (NSPI), a subsidiary of Emera Inc., outlines its corporate cost allocation policies, ensuring fair distribution of support services and general expenses among NSPI and its affiliates. The policy aligns with the Code of Conduct's Section 6.11, which mandates equitable allocation based on the nature of corporate services.

SELECTION AND APPLICATION OF ALLOCATION METHODOLOGY - 06 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 tha...

AI summary The document outlines procedures used by Corporate Accounting to allocate corporate support services costs to affiliates, including identifying cost centers, interviewing managers, reviewing industry practices, and applying selected allocation methodologies. Calculations are updated monthly, quarterly, and annually.

COSTS INCLUDED IN THE ALLOCATION PROCESS - 07 NSPI's corporate support services costs include all expenses, both direct and common, required to provide support services to NSPI and its affiliates. - 08 An overhead load will be charged to N...

AI summary NSPI's corporate support services costs encompass direct and common expenses for its operations and affiliates, with an overhead load applied to affiliates to cover indirect support costs not captured in corporate 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 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.

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

AI summary The text outlines procedures for pension plan management, including annual actuarial valuations, funding based on these valuations, investment of pension assets by fund managers, and administrative expense reimbursement. It details how pension expenses are allocated between operating departments and corporate adjustments, and how contributions are handled for defined benefit and defined contribution plans.

- 01 An overhead charge will apply to labour costs of NSPI employees outside of the corporate support groups relating to affiliate or non-regulated activities. This charge is designed to recover all administrative costs benefiting, but not...

AI summary An overhead charge is applied to NSPI employees' labour costs for activities outside corporate support groups to recover administrative costs. This is calculated using various OM&G expense accounts and should be reviewed annually by Corporate Accounting Services.

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.

REORGANIZATION AND PRIVATIZATION - 01 During 1992, the Province of Nova Scotia passed legislation to facilitate the reorganization and privatization of the business of Nova Scotia Power Corporation (NSPC). In effecting the reorganization,...

AI summary In 1992, Nova Scotia reorganized and privatized Nova Scotia Power Corporation (NSPC) by transferring its assets and liabilities to Nova Scotia Power Inc. (NSPI) through an asset transfer agreement. NSPC retained long-term debt and sinking fund assets and changed its name to Nova Scotia Power Finance Corporation. The reorganization used continuity of interest accounting, and NSPI’s year-end was changed from March 31 to December 31.

ACT OF INCORPORATION - 04 NSPI was incorporated under the name International Engineering Services Limited on July 13, 1984 pursuant to the Companies Act of Nova Scotia. On May 11, 1992, its name was changed to Nova Scotia Power Inc. - 05 I...

AI summary This section outlines the incorporation and corporate history of Nova Scotia Power Inc. (NSPI), including its name changes, the transfer of operations from Nova Scotia Power Corporation, and a reorganization that led to the formation of Emera Inc.

SHORT-TERM INVESTMENTS - 6550

AI summary The document discusses short-term investments related to Nova Scotia Power Inc. and includes references to accounting standards, financial audits, and regulatory oversight. It highlights the importance of compliance with US GAAP and Canadian accounting standards, as well as the role of KPMG and Grant Thornton in financial audits.

COMMON DIVIDENDS - 7120

AI summary The document discusses the topic of common dividends related to Nova Scotia Power Inc. (NSPI) and its affiliated entities, including Nova Scotia Power Corporation (NSPC) and Nova Scotia Power Finance Corporation (NSPFC). It includes financial information and accounting standards relevant to dividend calculations and reporting.

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 e. On a monthly basis, allocate common corporate support services costs to affiliates. Allocation calculations will be updated monthly, quarterly and annually depending on the cost centre. The overhead load fa...

AI summary The policy outlines monthly allocation of common corporate support services costs to affiliates, with updates based on cost centre frequency. Overhead load factors are updated annually or more frequently as needed.

COSTS INCLUDED IN THE ALLOCATION PROCESS - NSPI's corporate support services costs include all expenses, both direct and common, required to provide support services to NSPI and its affiliates. - O8 An overhead load will be charged to NSPI...

AI summary NSPI includes all corporate support services costs for itself and affiliates, with an overhead load charged to affiliates for indirect costs not captured in the corporate support group.

DIRECT EXPENSE ALLOCATION 10 Corporate support services costs that can be directly attributed to a specific entity are directly charged to that entity.

AI summary The document outlines the principle that corporate support services costs directly attributable to a specific entity are allocated to that entity, ensuring accurate cost attribution under US GAAP. This approach aligns with regulatory guidelines for expense allocation.

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 in conjunction with the service providers...

AI summary Corporate Accounting Services and NSPI's Controller are tasked with identifying cost centers, selecting allocation drivers, calculating overhead factors, and managing the Cost Allocation Policy to ensure fair distribution of corporate support costs among NSPI and its affiliates.

PROCEDURES - 11 Actuarial valuations are performed annually for all plans. - Pension expense, as determined in the annual actuarial valuation, is charged to both operating departments and corporate adjustments. - 13 Pension funding for pre...

AI summary The text outlines procedures related to pension plan management, including annual actuarial valuations, funding, investment of assets, and expense allocation. It discusses how pension expenses are charged to operating departments and corporate adjustments, and how contributions and administrative expenses are handled for both defined benefit and defined contribution plans.

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.

1) Re: Cost Allocation Policy - 1570 In this expense allocation it mentions corporate support service cost being attributed to a specific entity. Is this on the assumption that all costs are allocated from NSPI to others such as Emera, or...

AI summary The document discusses the allocation of corporate support service costs between NSPI and Emera under Policy 1570. It clarifies that the policy does not cover costs allocated from Emera to NSPI, which are evaluated for compliance with the Code of Conduct.

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.

ACT OF INCORPORATION - 04 NSPI was incorporated under the name International Engineering Services Limited on July 13, 1984 pursuant to the Companies Act of Nova Scotia. On May 11, 1992, its name was changed to Nova Scotia Power Inc. - 05 I...

AI summary This section outlines the incorporation and reorganization history of Nova Scotia Power Incorporated (NSPI), including name changes, the transfer of business from Nova Scotia Power Corporation, and a corporate reorganization in 1999 that led to the formation of Emera Inc.

GENERAL - 01 Nova Scotia Power Inc. ("NSPI") is the primary operating subsidiary of Emera Inc, a diversified energy company based in Halifax, Nova Scotia - 02 For financial reporting purposes, NSPI is organized into cost centers and has sp...

AI summary Nova Scotia Power Inc. (NSPI) is a subsidiary of Emera Inc. and operates under a Cost Allocation Policy that ensures fair distribution of corporate support services and general expenses between NSPI and its affiliates, aligning with accounting principles.

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.

SELECTION AND APPLICATION OF ALLOCATION METHODOLOGY - 06 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 t...

AI summary The document outlines the procedures used by Corporate Accounting to allocate corporate support services Operating, Maintenance and General (OM&G) costs to affiliates of Nova Scotia Power Inc. (NSPI), including identifying cost centres, determining direct and shared costs, selecting an allocation methodology, and calculating charges.

COSTS INCLUDED IN THE ALLOCATION PROCESS - 07 NSPl's corporate support services costs include all expenses, both direct and common, required to provide support services to NSPI and its affiliates. - 08 An overhead load will be charged to N...

AI summary The text outlines how Nova Scotia Power Inc. (NSPI) allocates corporate support services costs, including both direct and common expenses, and how overhead loads are charged to its affiliates to cover indirect support costs not captured in the corporate support group cost centres.

CORPORATE SUPPORT SERVICES - 09 Corporate support services include the following: - a. Internal Audit - b. Corporate Secretary and General Counsel - c. Finance and Accounting - d. Risk Management - e. Corporate Human Resources - f. Environ...

AI summary The document outlines the various corporate support services offered by Nova Scotia Power, including internal audit, finance and accounting, risk management, and information technology, among others.

DIRECT EXPENSE ALLOCATION 10 Corporate support services costs that can be directly attributed to a specific entity are directly charged to that entity.

AI summary The document states that corporate support services costs directly attributable to a specific entity are charged to that entity.

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 corporate support group cost centres.

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 in conjunction with the service providers...

AI summary The document outlines the responsibilities of Corporate Accounting Services and the Controller of NSPI regarding the allocation of common corporate support services costs to NSPI's affiliates, including identifying cost centres, selecting cost drivers, calculating overhead allocation factors, and reviewing these elements on a quarterly and annual basis.

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 Section 6.11 of the Cost Allocation Policy 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 provided.

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 administration of employee future benefits, specifically pension plans, including actuarial valuations, funding, investment, and expense allocation. NSPI plays a central role in managing these plans, with contributions and administrative expenses handled through trustee and fund managers.

POLICY 01 Dividends to common shareholders should be recorded as declared by authorization of an approved Board of Directors resolution.

AI summary The text states that dividends to common shareholders must be recorded based on the authorization of an approved Board of Directors resolution.

PROCEDURES - 11 Actuarial valuations are performed annually for all plans. - Pension expense, as determined in the annual actuarial valuation, is charged to both operating departments and corporate adjustments. - 13 Pension funding for pre...

AI summary The document outlines procedures for pension plan management, including annual actuarial valuations, funding based on these valuations, investment of pension assets by fund managers, and the handling of administrative expenses and contributions for both defined benefit and defined contribution pension plans.

DEFINITION 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 determi...

AI summary The authorized preferred share capital of Nova Scotia Power Inc. consists of 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.

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.

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 document outlines procedures for controlling and updating the NSPI Accounting Policy & Procedures Manual, including approval by the UARB and annual review by external auditors.

ACT OF INCORPORATION - 04 NSPI was incorporated under the name International Engineering Services Limited on July 13, 1984 pursuant to the Companies Act of Nova Scotia. On May 11, 1992, its name was changed to Nova Scotia Power Inc. - 05 I...

AI summary Nova Scotia Power Inc. (NSPI) was incorporated in 1984 and later rebranded. In 1992, it acquired the business of Nova Scotia Power Corporation, a crown corporation. A 1999 reorganization separated NSPI's regulated utility business from other operations, forming subsidiaries under NS Power Holdings Inc., which later became Emera Inc.

GENERAL - 01 Nova Scotia Power Inc. ("NSPI") is the primary operating subsidiary of Emera Inc, a diversified energy company based in Halifax, Nova Scotia - 02 For financial reporting purposes, NSPI is organized into cost centers and has sp...

AI summary Nova Scotia Power Inc. (NSPI) is a subsidiary of Emera Inc. and operates under a Cost Allocation Policy that ensures corporate support services and general expenses are fairly allocated between NSPI and its affiliates, in line with accounting standards.

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.

COSTS INCLUDED IN THE ALLOCATION PROCESS - 07 NSPI's corporate support services costs include all expenses, both direct and common, required to provide support services to NSPI and its affiliates. - 08 An overhead load will be charged to N...

AI summary NSPI's corporate support services costs include both direct and common expenses for supporting NSPI and its affiliates. An overhead load is applied to affiliates to cover indirect support costs not captured in corporate support group cost centres.

CORPORATE SUPPORT SERVICES - 09 Corporate support services include the following: - a. Internal Audit - b. Corporate Secretary and General Counsel - c. Finance and Accounting - d. Risk Management - e. Corporate Human Resources - f. Environ...

AI summary The section outlines the various corporate support services provided by the organization, including internal audit, finance and accounting, risk management, and others.

DIRECT EXPENSE ALLOCATION 10 Corporate support services costs that can be directly attributed to a specific entity are directly charged to that entity.

AI summary The document states that corporate support services costs directly attributable to a specific entity are charged to that entity.

OVERHEAD ALLOCATION - 22 An overhead load will be charged to NSPI'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 An overhead load is charged to NSPI's affiliates to cover indirect support costs not captured in the corporate support group cost centres, including depreciation, rent, IT support, and incentives.

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 in conjunction with the service providers...

AI summary Corporate Accounting Services is responsible for identifying cost centres, selecting allocation cost drivers, and calculating overhead allocation factors for NSPI's affiliates. The Controller of NSPI oversees the management of the Cost Allocation Policy.

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.

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, including pension plans. Annual actuarial valuations are conducted, and pension expenses are charged to operating departments and corporate adjustments. Pension plan assets are managed by fund managers, and financial statements are prepared quarterly.

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.

PREFERRED DIVIDENDS - 7320

AI summary This section of the document, titled 'Preferred Dividends - 7320,' appears to be part of a regulatory proceeding related to Nova Scotia's utility sector, specifically addressing financial and accounting matters involving Nova Scotia Power Inc. and the Nova Scotia Utility and Review Board.

LONG-TERM DEBT - 8100

AI summary The document section 'LONG-TERM DEBT - 8100' appears to be a regulatory proceeding chunk related to long-term debt, potentially involving Nova Scotia Power Inc. and other entities, though the specific content is not visible due to the image link.

REORGANIZATION AND PRIVATIZATION - 08 During 1992, the Province of Nova Scotia passed legislation to facilitate the reorganization and privatization of the business of NSPC. In effecting the reorganization, pursuant to the Asset Transfer A...

AI summary In 1992, the Province of Nova Scotia passed legislation to reorganize and privatize NSPC, transferring its assets and liabilities to NSPI in exchange for shares and notes. NSPC was renamed NSPFC and retained long-term debt and sinking fund assets. The reorganization was accounted for using continuity of interest accounting, with financial statements reflecting the transition.

GENERAL - 01 Nova Scotia Power Inc. ("NSPI") is the primary operating subsidiary of Emera Inc, a diversified energy company based in Halifax, Nova Scotia - 02 For financial reporting purposes, NSPI is organized into cost centers and has sp...

AI summary Nova Scotia Power Inc. (NSPI) is a subsidiary of Emera Inc. and operates under a Cost Allocation Policy that ensures fair allocation of corporate support services and general expenses between NSPI and its affiliates, in line with accounting principles.

SELECTION AND APPLICATION OF ALLOCATION METHODOLOGY - 06 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 t...

AI summary The document outlines the procedures used by Corporate Accounting to allocate corporate support services Operating, Maintenance and General (OM&G) costs to affiliates, including identifying cost centres, interviewing managers, selecting an allocation methodology, and calculating charges.

COSTS INCLUDED IN THE ALLOCATION PROCESS - 07 NSPl's corporate support services costs include all expenses, both direct and common, required to provide support services to NSPI and its affiliates. - 08 An overhead load will be charged to N...

AI summary The document outlines how corporate support services costs for NSPI and its affiliates are allocated, including both direct and common expenses, and the overhead load charged to affiliates for indirect support costs.

DIRECT EXPENSE ALLOCATION 10 Corporate support services costs that can be directly attributed to a specific entity are directly charged to that entity.

AI summary The document states that corporate support services costs directly attributable to a specific entity are charged to that entity.

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 in conjunction with the service providers...

AI summary Corporate Accounting Services is tasked with identifying cost centres, selecting allocation drivers, calculating overhead factors, and processing monthly cost allocations to NSPI's affiliates. The Controller of NSPI oversees the management of the Cost Allocation Policy.

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 Section 6.11 of the Cost Allocation Policy outlines that corporate support service costs should be fairly allocated between NSPI and its affiliates, with the allocation factor depending on the nature of the service provided.

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.

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.

POLICY 01 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. - 02 Preferred dividends are accrued as dec...

AI summary The text outlines the accounting treatment for preferred shareholder dividends, including accruals based on declared dividends and adjustments for income tax expenses and benefits related to these dividends.