Topic:"Cost Recovery" in M12241

Report on Other Legal and Regulatory Requirements We have audited the Corporation's compliance, as at December 31, 2024, with the cost allocation criteria established by the Efficiency Nova Scotia Cost Allocation Methodology Report as file...

AI summary An audit was conducted to assess the Corporation's compliance with the Efficiency Nova Scotia Cost Allocation Methodology Report, filed with the Nova Scotia Utility and Review Board. Management is responsible for compliance, while auditors are tasked with expressing an opinion on this compliance as of December 31, 2024.

Cost allocation methodology The Corporation follows a Cost Allocation Methodology ("CAM") to allocate expenses not directly related to a fund, as disclosed in Note 13. There was no change to the CAM from prior years.

AI summary The Corporation employs a Cost Allocation Methodology (CAM) to allocate expenses unrelated to specific funds, as detailed in Note 13. No changes to the CAM have been implemented compared to prior years.

6. LOAN RECEIVABLE HCi3's mandate includes direct investments, such as loans, to support local projects to mitigate climate impacts. Loans receivable are funded by endowments from FCM and the Province of Nova Scotia. During the year, HCi3...

AI summary HCi3 provides loans to support local climate projects, funded by FCM and the Province of Nova Scotia. A $200 loan was issued with prime +4% interest, repayable in interest-only installments until 2027, secured by a general security agreement over the borrower's assets.

11. COMMITMENTS a) In the course of business, the Corporation approves customer applications that offer future incentive payments based on the completion of program criteria within a specific time frame. The value of these commitments is e...

AI summary The Corporation approves customer applications with future incentive payments tied to meeting program criteria. Estimated commitments total $111,339 (as of December 31, 2024), with shares allocated to the DSM Fund ($18,049), PNS Fund ($63,895), and Other Business Fund ($29,394).

The costs reported in the Consolidated Statement of Operations, include direct costs of the programs which are comprised of, but not limited to, customer payments, program support costs, and other program and administrative costs directly...

AI summary The text discusses the costs incurred by the Corporation in 2024 related to various programs, including DSM, PNS, and Other Business, with a breakdown of direct and non-direct costs. Non-direct costs are allocated using the ENSC Cost Allocation Methodology Report and reviewed by the NSUARB.

GL Account GL Account Description Financial Statement Grouping GL Balance 4000 DSM Revenue Revenue 64,859 4140 Recognition/(Deferral) of Revenue Revenue - 4500 Interest - Business Investment Account Revenue 885 Subtotal - Revenue 65,744 50...

AI summary The document details a financial breakdown of the Cost Allocation Methodology (CAM), including DSM revenue, incentive programs, evaluation costs, program support, amortization, IT expenses, and marketing. It categorizes GL accounts with balances related to revenue, incentives, and operational costs under Nova Scotia's utility regulatory framework.

General Index of Financial Information Notes to the financial statements Statement of Financial Position date are reflected as short-term investments. 2. SIGNIFICANT ACCOUNTING POLICIES (continued) Capital assets Capital assets are initial...

AI summary The document outlines financial policies, including the use of a Cost Allocation Methodology (CAM) for expense allocation, and details revenue agreements with NS Power and the Province of Nova Scotia. Key agreements include a three-year demand-side management contract with NS Power and multi-year provincial programs with specified funding amounts and terms.

Stabilization allocation (i) (39) (30)

AI summary The document presents a stabilization allocation with values of (39) and (30), likely representing financial figures or adjustments in the context of financial statements.

2. SIGNIFICANT ACCOUNTING POLICIES

AI summary The section outlines significant accounting policies relevant to Nova Scotia Power Inc.'s regulatory proceedings, including references to GAAS, IFRS, and specific tax forms. It highlights policies related to cost allocation, depreciation, and tax compliance.

Allocated expenses The Organization incurs expenditures related to salaries, benefits and rent that are not directly attributable to mandate-related programs. These expenses are allocated to program costs based on the percentage of time em...

AI summary The Organization incurs expenses like salaries, benefits, and rent not directly tied to mandate-related programs. These are allocated to program costs based on the percentage of time employees spend on those programs.