[Code of Federal Regulations]
[Title 7, Volume 11]
[Revised as of January 1, 2003]
From the U.S. Government Printing Office via GPO Access
[CITE: 7CFR1770.11]

[Page 956]
 
                          TITLE 7--AGRICULTURE
 
    CHAPTER XVII--RURAL UTILITIES SERVICE, DEPARTMENT OF AGRICULTURE
 
PART 1770--ACCOUNTING REQUIREMENTS FOR RUS TELEPHONE BORROWERS--Table of Contents
 
                  Subpart B--Uniform System of Accounts
 
Sec. 1770.11  Accounting system requirements.

    (a) Each RUS borrower subject to the jurisdiction of the Federal 
Communications Commission (FCC) or a State regulatory body shall 
maintain its accounts and records in accordance with the rules and 
regulations prescribed by that regulatory body.
    (b) Each RUS borrower not subject to regulatory control as specified 
in Sec. 1770.11(a) shall maintain its accounts and records in accordance 
with the FCC Uniform System of Accounts as set forth in part 32 of the 
Commission's Rules and Regulations.
    (1) RUS borrowers having annual revenues derived from regulated 
telecommunications operations of $100,000,000 or more shall maintain the 
accounts prescribed in part 32 for Class A companies.
    (2) RUS borrowers having annual revenues derived from regulated 
telecommunications operations of less than $100,000,000 shall maintain 
the accounts prescribed in part 32 for Class B companies.
    (3) RUS borrowers maintaining the accounts prescribed for Class B 
companies may adopt the Class A accounts if they desire more detailed 
and sophisticated accounting records.