· Home · MQ's · Specs Index · Examination Code: R ·
8714
UTILITIES ANALYST 2
Nature of Work
Under general supervision, at the full-performance level,
performs auditing, accounting or analysis work in the examination
of the financial books and records regulated by the Public
Service Commission. Conducts economic and financial analysis,
verifies journal entries, balance sheets, income statements and
related financial document; prepares detailed report on the
financial condition of the utility; testifies before the
Commission and gives a recommendation 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
The Utility Analyst 2 is full-performance level. At this
level, the more complex projects assigned include full
responsibility for review, audit, report preparation and
testimony preparation in cases involving small to medium sized
utilities. Additionally, the Utility Analyst 2 is involved in
more strictly supervised activities involving larger utility
companies. The Utility Analyst 2 is expected to formulate
project or case specific work plans and establish data
requirement and procedures for completing the assignment.
Examples of Work
Reviews utilities' application for rate changes, previous rate
requests and audit work papers and prepares an audit work
plan for a subsequent field or desk audit.
Analyzes the financial condition of utilities including such
areas as capitalization ratios, cash flow, financing needs and
plans and pro forma income statements.
Performs a field or desk audit of the utilities financial books
and records consisting of a summary of monthly operating
revenue for the test year, a detail of expense statement for
the previous 3 to 5 years, statement of plant additions and
retirements for the test year, a work sheet on tax expense
accounts, calculation of the rate base, allocation of cost of
service for multi-jurisdiction utilities, showing of the
balance sheets per books and to going-level and a detail of
adjustments.
Conducts a bill analysis of the utility customer billing to
test and verify revenues and to project revenues from
proposed rates.
Conducts analysis of the management efficiency of utility
companies.
Writes all or part of an audit report presenting an analysis of
the utilities financial condition and/or economic issues of
the case, comments on the financial recordkeeping of the
utility, an evaluation of the quality of service to
customers and recommendations on the proper rate schedule
for the utility.
Evaluates the cost of capital in the utility market and makes
recommendations to the Commission on an allowable rate of
return both at existing and alternate capital structure.
Performs desk or memorandum audits of utility rate change
requests not requiring a field audit.
Assists staff attorneys in becoming familiar with the
accounting aspects of the case and in establishing methods
of examination and cross-examination as part of the staff
exhibit in the rate hearing.
Testifies in the rate hearing before the Public Service
Commission on the methods and scope of the audit, on any
adjustments made to the financial records of the utility and
on the financial condition of the utility.
Assists the legal division in designing rates mandated by the
Commission decision in the rate hearing.
Answers routine correspondence from utility customers on
utility costs, municipal surcharges, fuel adjustment
charges, etc.
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.
Knowledge of the Federal income tax guidelines, the
consolidated income guidelines and investment tax credit
regulations.
Knowledge of the rate-making processes and the rate structure
of public utilities.
Knowledge of the economic environment and capital market of
utility companies.
Knowledge of utility companies and their operations and
management structure.
Skill in the use of a personal computer and calculator.
Ability to analyze complex accounting data and financial
records such as balance sheets, income statements and
revenue statements.
Ability to evaluate economic conditions and financial trends.
Ability to design an appropriate rate structure for utility
companies.
Ability to determine variances in complex economic and
financial data.
Ability to prepare and present technical reports of audit
procedures and findings as testimony in rate 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:
Experience as described below may substitute for
the required training on a year-for-year basis.
Experience:
Two years of full-time or equivalent part-time paid
employment in utility accounting, utility auditing, or
financial and economic analysis with a public utility,
regulatory agency or private accounting firm; or three years
of full-time or equivalent part-time paid employment in
other areas of accounting or auditing.
Substitution:
A Master's Degree in accounting, business
administration, finance, economics, or mathematics or
approval as a Certified Public Accountant may be substituted
for the required experience.
Established: 9/16/93
Effective:
10/16/93