E-1Financial Statements - Redacted, Public Version
8 passages
Fund accounting a) The Demand-Side Management ("DSM") Fund is used to account for the operations of the Corporation including reporting the fee-for-service revenues as received from NS Power with expenses approved annually by the Nova Scot...
AI summary The text outlines three distinct funds used by the Corporation for accounting purposes: the DSM Fund, which accounts for operations and revenues from NS Power; the PNS Fund, which covers operations under contracts with the Province of Nova Scotia; and the Other Business Fund, which handles activities of subsidiaries and non-DSM/PNS operations.
Efficiency Nova Scotia Revenue Effective January 1, 2019, the Corporation entered into a one-year supply agreement with NS Power to provide DSM energy efficiency and conservation activities, under which fees are received monthly. In 2019,...
AI summary Efficiency Nova Scotia entered into multiple agreements in 2019 with NS Power and the Province of Nova Scotia to provide energy efficiency and conservation services. Revenue from these agreements included fee-for-service payments, with amounts varying by agreement and year. Specific programs included those for low-income residents and Mi'kmaw communities.
The UARB requested that the Corporation assess the viability of external financing of NS Power's DSM deferral balance of $35,000 from 2015 ("2015 DSM Deferral"). The Corporation determined that such external financing could result in savin...
AI summary The UARB requested the Corporation to assess external financing of NS Power's 2015 DSM Deferral balance of $35,000. The Corporation found this could save customers money. In April 2016, the UARB directed the Corporation to proceed with funding the unamortized portion of the 2015 DSM Deferral as previously described in a February 2016 filing.
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2019 (IN THOUSANDS) The value of these commitments is estimated at $17,229 (2018 - $13,027) with the DSM Fund share of $4,727 (2018 - $4,531) and the PNS Fund share of $12,5...
AI summary The document outlines financial commitments related to demand-side management (DSM) and Business New Initiatives (BNI) programs for the year ended December 31, 2019. It provides details on the estimated value of these commitments, including the breakdown between the DSM Fund and PNS Fund, and how the estimates are calculated based on program-specific criteria.
ii) Accounts receivable and loan receivable Credit risk associated with accounts receivable is mitigated by the fact that the majority of receivables outstanding are from NS Power, which is a regulated public utility, mandated by its regul...
AI summary The credit risk for accounts receivable is low due to the majority of receivables being from NS Power, a regulated public utility required by its regulator to fund DSM activities.
15. COST ALLOCATION METHODOLOGY Demand-Side Allocator Expenses subject to Allocation Management Fund Allocation Provincial Fund Allocation Other Business Fund Allocation Incentives Direct $ 29 $ 8 $ 21 $ - Information technology FTE 495 32...
AI summary The document outlines the cost allocation methodology used by the Corporation, detailing how expenses are distributed across different funds, including the Demand-Side Management (DSM) Fund, Provincial Fund, and Other Business Fund. It provides a breakdown of various expenses such as incentives, information technology, marketing, and salaries.
EfficiencyOne Statement of Operations & Changes in Fund Balance - Details by GL Account - Demand-Side Management (DSM) Fund For the Year Ended December 31, 2019 In Thousands GL Account GL Account Description Financial Statement Grouping GL...
AI summary The document presents the EfficiencyOne Statement of Operations and Changes in Fund Balance for the Demand-Side Management (DSM) Fund for the year ended December 31, 2019. It details various GL accounts, including salaries, training, and cash balances, providing an overview of financial activities related to the DSM Fund.
For more information see canada.ca/taxes or Guide T4012, T2 Corporation – Income Tax Guide. 055 Do not use this area 261 Did the corporation receive a distribution from or was it indebted to a non-resident trust in the year? T1142 262 Has...
AI summary The text includes a series of tax-related questions and forms for corporations, including inquiries about distributions from non-resident trusts, SR&ED agreements, dividend elections, and the use of IFRS. It also includes a reference to electricity demand side management as a revenue-generating activity.
E-2EOne (NSUARB) RIR-1 to RIR-10
5 passages
NON-CONFIDENTIAL 1 Request IR-01: 2 of Franchise and expects that the terms of the continuation of the grant of franchise will be 3 determined through such discussions. NON-CONFIDENTIAL 1 Request IR-02: 2 3 Regarding EfficiencyOne Audited...
AI summary The document outlines requests and responses related to the accounting treatment of future incentive payments by EfficiencyOne. It discusses changes in accounting policies, specifically the deferral method, and its impact on the Demand-Side Management (DSM) Fund and past costs to NS Power.
recognition policies. 1 b) The prior period adjustment relates to future incentive payments recorded within the 6 There is a mention in the 'Use of Estimates' note that states that EfficiencyOne uses estimates 7 when accounting for items s...
AI summary The text discusses EfficiencyOne's accounting policies, specifically regarding the allowance for doubtful accounts and the bad debt expense related to the DSM fund. EfficiencyOne explains that it does not believe there is a material risk of uncollectible receivables and that the bad debt expense was related to an uncollectible amount.
2019 DSM Fund Revenue and NS Power Payments (In Thousands) Total Total Description Source Payments Revenue Recognized Fee-for-service NS Power $ 34,050 $ 34,050 Interest Revenue Bank - 281 Deferred Revenue Current Year Calculation (274) 20...
AI summary The 2019 DSM Fund Revenue and NS Power Payments table shows financial transactions between NS Power and EfficiencyOne, including fee-for-service payments, interest revenue, and deferred revenue adjustments. The text explains that interest revenue from 2017 was returned to NS Power in 2019 by reducing payments due to EfficiencyOne, and that revenue recognition follows a deferral method based on incurred expenses.
Request IR-09: Regarding EfficiencyOne Audited Financial Statements, Note 14, Risk Management: Note 14 mentions an interest-bearing liability with a fixed interest rate that appears to have been entered into in 2019. When looking at the fa...
AI summary The request asks for details about a new interest-bearing liability mentioned in Note 14 of NS Power's financial statements. The response clarifies that the liability relates to a loan from 2016 for the DSM deferral balance and was disclosed in Note 10 in 2019, with no new liability added in 2019.
Statement of Operations & Changes in Fund Balance - Details by GL Account - Demand-Side Management (DSM) Fund For the Year Ended December 31, 2019 GL Account GL Account Description Financial Statement Grouping GL Balance Direct Expense of...
AI summary The document presents a detailed breakdown of the Demand-Side Management (DSM) Fund's Statement of Operations and Changes in Fund Balance for the year ended December 31, 2019, including revenue, incentives, evaluation, program support, and bad debt expenses.