Nature of Work
Under direct supervision, at the entry level, performs auditing or analysis work in examining the financial books and records for financial conditions of small, simple utility operations regulated by the Public Service Commission. Assists in conducting economic and financial analysis to make recommendation to the Public Service Commission on the various economic and financial aspects of utility regulation. May be required to travel both in-state and out-of-state. Performs related work as required.

Distinguishing Characteristics
Incumbents at this level participate in an initial training program and may become more independent and assigned less complex cases; however, they still receive direction and supervision and are assigned limited to small utility filings or less complicated projects. Although the Utilities Analyst 1 could be assigned to work on a large utility project, during such assignment, the Utilities Analyst 1 would be part of a team and would be assigned to a limited portion of the work. Utilities Analyst 1's are not expected to complete work plans or identify new issues.

Examples of Work
Assists in the analysis of the financial condition of utility companies.
Assists in the analysis of the management efficiency of utility companies.
Assists in the evaluation of the cost of capital and makes recommendation to the Commission on an allowable rate of return both at existing and alternate capital structures.
Assists in determining appropriate revenue requirements and rate design for utility companies.
Studies the rules and regulations of the Public Service Commission and the procedures manual of the division to become familiar with the functions of the Commission and the procedures of utility auditing.
Performs less complex calculations and verifications of the accuracy of monthly financial statements; traces income and expense statements back to source documents and other records; verifies the classification of various accounting entries.
Prepares an audit report under the supervision of a higher level analyst on the financial condition of the utility.
Attends rate hearings to become familiar with the examination procedures and may be called to give testimony on utility audits conducted.

Knowledge, Skills and Abilities
Knowledge of the principles and practices of accounting and auditing.
Knowledge of the principles and techniques of economic and financial analysis.
Skill in the use of a personal computer and calculator.
Ability to evaluate economic conditions and financial trends.
Ability to determine variances in economic and financial data.
Ability to present financial and economic data for Public Service Commission hearings.
Ability to communicate easily and clearly, in writing and orally.
Ability to maintain effective working relationships with others both within the Public Service Commission and outside.

Minimum Qualifications      [Top]
Training:
Graduation from an accredited four-year college or university with a major in business administration, accounting, finance, economics, or mathematics.
Substitution:
Full-time or equivalent part-time paid experience in utility financial analysis at the professional level, accounting or auditing may substitute on a year-for year basis.

Established: 9/16/93
Effective:     10/16/93