Maine PUC Accounting for Water Utilities

Class Description:

This presentation is designed to provide an overview of the accounting requirements for water utilities who are subject to the Maine PUC regulations. It will focus on the Statute (35-A M.R.S. Chapter 5 Accounting), Commission Rules for Accounting (Chapter 610, Uniform System of Accounts; Chapter 68, Water Utilities Depreciation: Chapter 710, Auditing Requirements).  It will also touch on the annual reporting requirements. Lastly, we will discuss how the accounting records are used to support water utility requests for rate changes. 

Class Fee: $45 Members | $60 Non-Members

State Agency Approval:
Maine BLWSP: 1.5 TCHs for Waste Operators
Maine DEP: 1.5 TCHs for Wastewater Operators

Speaker:

Lucretia Smith – Maine Public Utilities Commission

Lucretia A. Smith has been working for the Maine Public Utilities Commission as a Utility Analyst since 1999.  Her duties at the Commission include the review of rate filings for consumer owned utilities (both electric and water) and investor owned water and gas utilities.   She also reviews all applications for Competitive Electricity Providers (CEPs) as well as the annual reporting.   In addition, she participates in the review of security applications filed by the utility companies.  Prior to her work with the Commission, Ms. Smith worked for the Federal Energy Regulatory Commission (FERC) as an auditor (1985 to 1997).  In that position, Ms. Smith was responsible for conducting audits of electric and gas utilities for compliance with the FERC Uniform System of Accounts (USofA).  For a brief period, Ms. Smith worked as an auditor reviewing home health agencies compliance with Medicare accounting and classification rules.  (1997 – 1999)

Ms. Smith has a BS degree with a major in accounting from the University of Maine in Machias; an MBA from Anna Maria College and is a Certified Public Accountant.