WORK ORDER PROCEDURE WORKSHOPNovember 13-14, 2024 (W 9-4:30 Th 8-12) People's Energy Cooperative,Oronoco, MN 55960
Who should attend:Co-op employees at all levelsThis course is for all employees of rural utilities who have any part of the plant construction process. This course stresses the importance of each participant in the process and asks staff to think about their eventual impact on the cost of Total Utility Plant and the recovery of that plant through the rates of the system’s members. For almost all electric cooperatives and utilities, their biggest investment is the electric infrastructure assets including poles, wire, and transformers needed to deliver electricity. It’s a complex process to take raw materials, labor and overheads and convert them to our organization’s largest asset. This workshop will provide an overall understanding of the Work Order system, how the investment gets paid for, and an exploration of numerous components within the Work Order system.
Description:· Gain an understanding of 740c codes including new construction, system replacements, and retirement of plant. What is a work order, unit, assembly, and CPR’s (continuing property records). Understand when to capitalize costs or expense jobs. What’s so special about special equipment? What about depreciation? What is the impact of using contract labor versus in house labor?
· Not only is the work order accounting system complex, it’s expensive. How are we going to pay for this infrastructure investment? What about repairs and maintenance? And storms? Or Federal Emergency Management Agency (FEMA) payments from a declared disaster? How about contributions in aid of construction (CIAC)? How do rates recover all these costs?
· When does work order needs to be set up? What do I need to know about a staking sheet? Other topics will include inventory, overhead allocations and factors, closing of work orders, stores expense, standard costs, and internal controls.
Together, we will step through this intricate process to understand the components, as well as understand how it shows up on the monthly billing statement to the consumer!
Key Topics:
Correlation of the Form 7 to system improvement and maintenance decisions
What To Bring:Participants are asked to have a calculator and your system’s most recent year end Form 7.Additional/optional information – bring the total amount collected in CIAC – Contribution in Aid of Construction over allCost:$404 Education Member$504 Non Education Member
Location:People's Energy Cooperative,Oronoco, MN 55960
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2024 LATE REGISTRATIONAll events in 2024 will be subject to a $50 late registration fee for anyone that registers less than 2 weeks prior to the published event dates.
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