FERC Account 399 – Other Tangible Property
FERC Account 399 records the cost of other tangible general plant property not classifiable in more specific general plant accounts.
Definition
Record in this account the cost of other tangible property used for general utility purposes not provided for in other general plant accounts.
Account 399 is the final catch-all in the general plant section for tangible property that cannot be classified elsewhere. Unlike Account 398 which focuses on equipment, Account 399 may capture improvements, installations, or other tangible property that serves general utility purposes. Utilities should use more specific accounts whenever possible, reserving Account 399 for genuinely unclassifiable property.
What is typically included
- Tangible property improvements to leased facilities not otherwise classifiable
- Unique installations serving general utility purposes without a specific account
- Certain capitalized costs for general utility facilities not fitting other categories
- Property acquired in business combinations not assignable to specific plant accounts
- Other tangible general plant property as approved or directed
What is generally not included
- Intangible property (recorded in Account 302, Franchises and Consents, or Account 303)
- Miscellaneous equipment fitting Account 398
- Any property better described by a more specific general plant account (390-398)
- Electric plant in service attributable to generation, transmission, or distribution
- Construction work in progress (Account 107)
Why this account matters
- Provides accounting home for unique tangible property not fitting other categories
- Prevents forced misclassification into inappropriate specific accounts
- Required for complete FERC Form 1 general plant reporting
- Supports comprehensive rate base calculations including all tangible plant
- Enables proper depreciation treatment for miscellaneous tangible property
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Disclaimer: The material in this article is for informational purposes only and should not be taken as legal or accounting advice provided by Utility Accounting & Rates Specialists, LLC. You should seek formal advice on this topic from your accounting or legal advisor.