[Code of Federal Regulations]
[Title 18, Volume 1]
[Revised as of April 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 18CFR4.3]

[Page 69]
 
           TITLE 18--CONSERVATION OF POWER AND WATER RESOURCES
 
  CHAPTER I--FEDERAL ENERGY REGULATORY COMMISSION, DEPARTMENT OF ENERGY
 
PART 4_LICENSES, PERMITS, EXEMPTIONS, AND DETERMINATION OF PROJECT 
COSTS--Table of Contents
 
  Subpart A_Determination of Cost of Projects Constructed Under License
 
Sec. 4.3  Report on project cost.

    (a) Scheduling an audit. When the original cost declaration letter, 
filed in accordance with Sec. 4.1 is received by the Commission, its 
representative will sechedule and conduct an audit of the books, cost 
records, engineering reports, and other records supporting the project's 
original cost. The audit may include an inspection of the project works.
    (b) Project records. The cost records shall be supported by 
memorandum accounts reflecting the indirect and overhead costs prior to 
their spread to primary accounts as well as all the details of 
allocations including formulas utilized to spread the indirect and 
overhead costs to primary accounts.
    (c) Report by Commission staff. Upon completion of the audit, a 
report will be prepared for the Commission setting forth the audit 
findings and recommendations with respect to the cost as claimed.

[Order 53, 44 FR 61948, Oct. 29, 1979]