Topic:"Financing Alternatives" in M03154

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.

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 Nova Scotia Power Inc. (NSPI) may have excess cash in its bank accounts when short-term borrowings are not due, or when long-term debt or equity proceeds are received. Rather than letting this cash sit idle, NSPI invests it in short-term investments to maximize interest income.

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.

[6] The Company also stated: By June 30, 2010, NSPI will file a proposed amendment of its accounting policy for financial instruments and hedges for the Board's review and approval in advance of the adoption of US GAAP accounting standards...

AI summary NSPI proposed an amendment to its accounting policy for financial instruments and hedges in 2010 to align with US GAAP standards. The Board retained BOO Canada LLP to review the changes, but the process faced delays due to additional work and requests from NSPI. BOO issued a final report in December 2010, which NSPI generally accepted.

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 funds in short-term investments to maximize interest income.