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OCBOA Consulting, LLC

Accounting Services

The Florida Public Service Commission (FPSC) has numerous and complex rules that must be navigated to achieve a successful outcome with any FPSC filing. The volume of information requested and the due dates to provide the required information are two examples of the many challenges encountered by utility owners when seeking relief from rising operating costs or changes to an existing utility tariff. We can provide professional assistance in the following areas.

Rate Base

Does your rate base balance accurately reflect your investment in the utility?

Net rate base (owner's investment) is what the FPSC uses to calculate your Return on Investment (ROI) in rate case proceedings. If this number is understated you would not be adequately compensated for your investment. Let us review your rate base account balances to ensure that they represent the actual investment you have made in providing utility services.

  • Utility Plant in Service (UPIS)
  • Land
  • Construction Work in Progress (CWIP)
  • Contributions in Aid of Construction (CIAC)
  • Accumulated Depreciation of UPIS
  • Accumulated Amortization of CIAC
  • Acquisition Adjustments
  • Miscellaneous Deferred Debits
Net Operating Income

Does your NOI accurately reflect the annual operating cost to provide utility services?

NOI is what the FPSC uses to determine whether the revenues you collect from your customers cover the cost you incur to provide utility services. A negative NOI may indicate that your revenues are not covering your cost to provide utility services. A high NOI could trigger an over earnings investigation by the FPSC that could reduce your rates. Let us review your revenue and expense account balances to ensure that they represents the actual annual income for providing utility services.

  • Operating Revenues
  • Miscellaneous Revenues
  • Operating & Maintenance Expense (O&M)
  • Depreciation Expense
  • Amortization Expense
  • Taxes Other Than Income Expense (TOTI)
Capital Structure

Does your capital structure maximize the ROE calculation with the proper balance between equity and debt financing?

The FPSC has very specific rules and calculations for determining a utility’s ROE. Many common debt components, if not properly structured, are converted and treated as owners equity or removed entirely for the ROE calculation in a rate case proceeding. Let us review the capital structure balances to ensure that they represent the actual debt and equity used to finance and fund utility operations.

  • Short-term debt
  • Long-term debt
  • Customer Deposits
  • Equity

Do you understand and fully comprehend all of the FPSC filing requirements and rules that are required of investor owned utilities operating in Florida?

FPSC rules, regulations and orders are complex and difficult to understand. The penalties and fines for non-compliance could be severe and costly to your bottom line. Lets us help you navigate through these areas to ensure compliance and avoid unforeseen problems.

  • Annual Reports
  • Price Index & Pass Through Adjustments
  • Regulatory Assessment Fees (RAF)
  • NARUC USOA Compliance
    • Books & Records
    • FPSC adjustments
  • Allocations (Affiliated, Utility & Non-Utility)
  • Equivalent Residential Connections Calculations (ERC)
  • Depreciation Studies
  • Due Diligence Assistance