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<br /> 77 <br />2025 Amended and Restated WSA 21945395.2 <br />Article 7. Accounting Procedures; Compliance Audit <br />7.01. SFPUC Accounting Principles, Practices <br />A. Accounting Principles. San Francisco will maintain the accounts of the SFPUC <br />and the Water and Hetch Hetchy Enterprises in conformity with Generally Accepted Accounting <br />Principles. San Francisco will apply all applicable pronouncements of the Governmental <br />Accounting Standards Board (GASB) as well as statements and interpretations of the Financial <br />Accounting Standards Board and Accounting Principles Board opinions issued on or before <br />March 30, 1989, unless those pronouncements or opinions conflict with GASB pronouncements. <br />B. General Rule. San Francisco will maintain the accounting records of the SFPUC <br />and the Water and Hetch Hetchy Enterprises in a format and level of detail sufficient to allow it <br />to determine the annual Wholesale Revenue Requirement in compliance with this Agreement <br />and to allow its determination of the Wholesale Revenue Requirement to be audited as provided <br />in Section 7.04. <br />C. Water Enterprise. San Francisco will maintain an account structure which <br />allows utility plant and operating and maintenance expenses to be segregated by location <br />(inside San Francisco and outside San Francisco) and by function (Direct Retail, Regional and <br />Direct Wholesale). <br />D. Hetch Hetchy Enterprise. San Francisco will maintain an account structure <br />which allows utility plant and operating and maintenance expenses to be segregated into Water <br />Only, Power Only and Joint categories. <br />E. SFPUC. San Francisco will maintain an account structure which allows any <br />expenses of SFPUC bureaus that benefit only the Wastewater Enterprise, the Power-Only <br />operations of the Hetch Hetchy Enterprise or Retail Customers to be excluded from the <br />Wholesale Revenue Requirement. <br />F. Utility Plant Ledgers. San Francisco will maintain subsidiary plant ledgers for <br />the Water and Hetch Hetchy Enterprises that contain unique identifying numbers for all assets <br />included in the rate base and identify the original cost, annual depreciation, accumulated <br />depreciation, date placed in service, useful life, salvage value if any, source of funding (e.g., <br />bond series, revenues, grants), and classification for purposes of this Agreement.