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Financial

The financial group includes different departments that provide a variety of services to help the company maintain efficiency while being fiscally responsible.

   

Accounting

General Accounting manages the monthly accounting closing process and provides accounting guidance for treatment of new initiatives. The group determines and records monthly accounting entries, produces the company's financial statements, and provides rate case support, audit support, and accounting for regulatory reporting.

Contact General Accounting About

  • Accounting Advice/Research/Treatment of New Initiatives

  • Account/Cost Element Numbers

  • Accrual of Liabilities

  • Annual Report to the Pennsylvania Public Commission

  • Audit Support

  • Document Coding

  • EIA Reporting

  • FERC Indicators

  • Rate Case and Other Regulatory Support

Policies and Procedures

Checks and Cash Application Policy and Procedure

Forms

Check Deposit Coding Form

Check Deposit Coding Form in Excel

Accounting Staff

2020 REGULATORY ANNUAL REPORTS

To view the most recent Regulatory Annual Reports from 2020, please click the link below.

2019 Regulatory Annual Reports

To view the most recent Regulatory Annual Reports from 2019, please click the link below.

2018 Regulatory Annual Reports

To view the most recent Regulatory Annual Reports from 2018, please click the entity below.

2017 Regulatory Annual Reports

To view the PUC's most recent Regulatory Annual Reports from 2017, please click the divisions below.

2016 Regulatory Annual Reports

To view the PUC's most recent Regulatory Annual Reports from 2016, please click the divisions below.

2015 Regulatory Annual Reports

To view the PUC's most recent Regulatory Annual Reports from 2015, please click the divisions below.

2014 Regulatory Annual Reports

2013 Regulatory Annual Reports

  

Audits

Risk and Internal Audit is an independent and objective assurance service designed to add value and improve operations through the ongoing analysis of risk management, internal control, and governance processes. 

Audit Goals

Our primary objective is to provide reasonable assurance to management and the Board of Directors that:

  • Risks are appropriately identified and managed.

  • Significant financial, managerial, and operating information is accurate, reliable, and timely.

  • Operating policies, practices, and systems are efficient and effective.

  • Resources are acquired economically, used efficiently, and adequately protected.

  • Company actions are in compliance with internal policies, standards, procedures, and applicable laws and regulations.

  • Programs, plans, and objectives are achieved.

Ethics Line

Peoples has a long standing reputation for doing business with integrity and the highest ethical standards. Employees are expected to conduct business activities in accordance with our standards of ethical conduct as well as in compliance with all laws and regulations.

Consistent with our Code of Ethics & Business Conduct and Conflict of Interest policies, every employee is responsible to report suspected fraud, theft, or other illegal conduct. Peoples encourages employees to report all questionable activities to their supervisors.

Peoples also maintains an Ethics Line to provide employees an anonymous way to report ethical concerns or alleged violations of law or of our own policies. Peoples will not permit retaliation of any kind against any employee who, in good faith, makes a report or participates in an investigation.

Contacts to the Ethics Line are answered by a third party provider (24 hours a day) to maintain the greatest level of confidentiality. The company will promptly investigate all reports of violations and implement corrective action as merited. While callers may remain anonymous, a complete description of their concern, including specifics, such as company location, names, dates and times will aid the Company's ability to respond appropriately.

 

Budgets

The Planning & Budgeting department manages revenue, capital and operating and maintenance (O&M) budget processes for the entire company, providing guidance and recommendations. The group pulls together Board of Directors’ presentations and Quarterly Management Reports (QMR) for external investors. The department also provides support to executives and senior management in setting corporate and department goals.

Additionally, the group performs various business and financial analysis (such as allowable/capital investment decisions or justifications), completes company valuation and benchmarking, and helps management make various business decisions. The department also provides support for the company in debt covenant filings and SAP tasks related to structure maintenance.

Contact Planning and Budgeting About:

  1. Executive / BOD Reporting
    • Executive reporting
    • BOD Presentation
    • Quarterly Management Report (QMR)
  2. Goal Setting & Updates
    • Company Goal Setting & APIP Tracking
    • Providing Support & Guidance of Dept. Goal Setting
  3. Financial Analysis
    • Allowable Investment Evaluation
    • Operational Investment Evaluation
    • Customer Expansion/Growth Analysis
  4. Business Planning, Reporting and Forecasting
    • Revenue
    • Expense
    • Capital
    • Staffing
    • Interest calculations etc.
    • Financial Statements
      • Balance Sheet
      • Income Statement
      • Cash Flow Statement
      • Dividend Distributions
  5. 5-year Financial Plan DevelopmentDebt Covenant Compliance / FilingsBenchmarking, Analysis and StrategyPeer Company AnalysisCompany Valuation Model
    • Revenue, Expense, Capital, Staffing, Interest etc.
    • Financial Statements, Distribution
  6. Company Valuation Model
  7. SAP Structure Support
    • Activity Allocation
    • Surcharge Rates
    • Cost Center / Cost Center Hierarchy
    • Cost Elements / Costing Sheets
    • Profit Centers
    • Mark Numbers
    • Project Creation

Planning and Budgeting Staff

  

Fixed Assets

Fixed Assets (FA) manages the company capitalization policy and maintains the records of company assets (Plant) for property and equipment such as lines, stations, buildings, land, operating equipment, and furniture and office equipment. FA moves charges to Plant from capital projects and calculates depreciation on assets. FA also invoices outside parties who damage company property and prepares invoices for miscellaneous items.

Contact Fixed Assets About:

  • Capital or Operating Expense Decisions

  • Capitalized Interest

  • Damage Billing

  • Net Book Values (Depreciated Values of Assets)

  • Plant Maintenance Order and Capital Project Coding

  • Retirement of Assets

  • Sales of Assets

  • Settlement Rules for Capital Orders and Projects

  • Unit of Property Determination

Fixed Assets Staff

  

Tax

Tax provides company-wide tax planning, tax compliance, and tax regulatory services. In addition, the group develops processes to legally minimize tax expense and maximize cash flow. The group prepares company federal, state, and local tax returns including income, sales and use, property, excise, and fuels taxes.

Contact Tax About:

  • Federal and State Income Tax

  • State and Local Sales and Use Tax

  • Local Property Tax

  • Miscellaneous Federal, State, and Local Taxes (e.g. Excise, Fuels, etc.)

  • General Tax Research and Planning

Tax Staff

2023 Tax Documents

     

Treasury / Cash Management

Treasury / Cash Management manages the receipt and disbursement of the company’s funds through direct interaction with financial institutions. The group is also responsible for short-term cash flow forecasting to ensure proper funding for daily the company’s operational needs, borrowing and repayment of debt under the company’s credit facilities, placement of letters of credit / surety bonds, and risk management.

Contact Treasury / Cash Management About:

  • Corporate cash management

  • Bank activity reconciliations

  • Miscellaneous cash receipt processing

  • Disbursement funding outside of Accounts Payable

  • Short-term cash flow forecasting

  • Banking relationships, financial services, and payment processing vendors

  • The company’s debt and credit agreements

  • Filing of escheatment (unclaimed property) returns with states

  • Collection process and use of third-party collection agencies

  • Insurance coverages and risk exposures

  • Letter of credit and surety bond requirements

  • Financial services project management

Treasury / Cash Management Staff