Topic:"Revenue Requirement" in M11094

Fund accounting a) The Demand-Side Management ("DSM") Fund is used to account for the operations of the Corporation including the fee-for-service revenues received and expenses incurred for the delivery of DSM programs and services. The Su...

AI summary The text outlines three funds used by the Corporation for accounting purposes: the DSM Fund, PNS Fund, and Other Business Fund. Each fund is restricted to specific operations and associated revenues, with interest income retained within the respective fund for its designated uses.

Revenue recognition The Corporation follows the deferral method of accounting for revenue. Restricted fee-for-service or contribution revenue is recognized as revenue within the appropriate fund in the year in which the related expenses ar...

AI summary The Corporation uses the deferral method for revenue recognition, with restricted revenue recognized in the year related expenses are incurred. Endowment contributions and investment income are treated as direct increases to net assets or allocated to specific funds based on restrictions.

3. REVENUE AND CONTRACTUAL RIGHTS (continued) The Corporation entered into a services agreement with the Town of Bridgewater to administer housing energy management services. Effective June 27, 2022, the agreement provides funding of $442...

AI summary The Corporation has entered into several funding agreements, including with the Town of Bridgewater and HCi3 with FCM and the McConnell Foundation, to support energy management and climate mitigation projects. Revenue recognition and deferral practices are discussed, with specific amounts and timelines noted.

The costs in each fund 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 attributable to a program. The Corporatio...

AI summary The document outlines how the Corporation allocates both direct and non-direct costs among its programs, using metrics such as Full-Time Equivalents and Direct Costs as defined in the ENSC Cost Allocation Methodology Report. The CAM is regularly reviewed by the NSUARB.

CONCLUSION The cost allocation and procedural direction outlined above creates an accounting methodology and procedure designed to satisfy the regulatory requirement to ensure that costs are properly and fairly allocated between programs p...

AI summary The conclusion outlines a cost allocation methodology and procedure to ensure fair distribution of costs between programs funded by electricity ratepayers and taxpayers. Directly allocable costs are assigned to EDSM and PNS funds using vendor-provided measures, while other costs are placed in the General Fund and allocated via the CAM model for reporting to the NSUARB.

Request IR-4: - With regards to Note 3 to the Consolidated Financial Statements Revenue: - a) Please explain the increase from $34 million in 2021 to $41 million in 2022 in the fee-for-service revenue related to DSM fund. - b) Please provi...

AI summary The document requests explanations for various revenue changes related to the DSM fund and Provincial Fund between 2021 and 2022, including discrepancies between reported and calculated figures, as well as a statement of operations for the programs and grants in 2022.

Document: 302799 (E-ENS-F-23) Date Filed: June 20/23 UARB Page 2 1 i. The Company has a deficit of $2,000 in the year, mainly due to "Other Business 2 Fund" transactions. Are the additional programs and grants handled by the 3 Company putt...

AI summary The document includes several financial and operational questions directed at the Company, focusing on revenue, cash management, investment decisions, and program-related financial impacts. Specific requests include explanations of revenue and cash receipt tables, use of endowment funds, investment in GICs, and changes in deferred revenue and DSM Fund Share.