20180810Corrected Journal Entry.pdf

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An IDACORP Company
LISA D. NORDSTROM
Lead Counsel
[e-mail]
N.[CTIVED
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August 10,2018
VIA HAND DELIVERY
Terri Carlock
Administrator, Utilities Division
ldaho Public Utilities Commission
472 West Washington Street
Boise, ldaho 83702
Re: Case No. IPC-E-17-17
Transfer and Sale of Certain Assets to the City of Meridian, ldaho
ldaho Power Company's Journal Entries
Dear Ms. Carlock
On February 21,2018, the ldaho Public Utilities Commission ("Commission") issued
Order No. 33987 approving the transfer and sale of certain assets to the City of Meridian,
ldaho. ln its December 6,2017, Application for an order approving the transfer and sale,
ldaho Power Company ("Company") provided the accounting entries it believed appropriate
to record the transaction. On January 19,2018, the Company provided the Commission with
an updated purchase price based on changes in the federal corporate income tax rates
effective January 1, 2018.
Subsequent to Commission Order No. 33987, which authorized the transaction and
the Company's requested accounting treatment, the Company has recently discovered an
error in the accounting entries recorded to close the transaction. The Company requests the
Commission authorize it to correct the journal entries to ensure proper treatment of the
transaction. The corrected journal entries, reflecting the changes associated with these
revisions, are attached.
lf you have any questions, please contact Regulatory Analyst Mark Annis at (208) 388-
5208 or [e-mail].
Very truly yours,
?<*
Lisa D. Nordstrom
LDN:kkt
Enclosure
P.O. 8ox 70 (83707)
1221 W. ldaho St.
Boise, lD 83702
IDAHO POWER COMPANY
FINAL JOURNAL ENTRIES
City ol Meridian wastewater Treatment Plant
Accountint Entries Requested
adjustment to
correct
accountint
treatement
Entries as filed Adjustment of
in Application purchase price
dated due to income
L2l6l20l7 taxrevisions
Entries base
on revised
purchase price
DR (cr)
Requested
final entries
DR (Crl DR (crl
a. Remove the original cost of the Assets
Dr 108 - Accumulated Depreciation
Cr 101 - Electric Plant ln-Service
467,240
1461,240l,
467,240
{46L,2401
461,240
(461,240],
b. Record the gain on the sale of the Assets
Dr 131 - Cash
Cr 421 - Miscellaneous Non-Operating lncome
Cr 108 - Accumulated Depreciation
743,969
(309,s98)
(434,377\
(91,11s)
85,517
5,598
652,854
(224,081l,
1428,773r.
6s2,8s4
(224,O8r)
(428,773],
Dr
Cr
Dr
Cr
c. Record the mpact on income taxes from the sale
of the Assets
409 - lncome Taxes
236 - Taxes Accrued
282 - Accumulated Deferred lncome Taxes
410 - Provision for Deferred lncome Taxes
16L,432
(16L,432],
28,O74
(28,O74],
(84,166)
84,166
2,859
(2,8s9)
77,266
(77,266)
30,933
(30,s33)
77,266
(77,2661
30,933
(30,933)
d.1. Record the Sectionalizer payment
Dr 131 - Cash
Cr 101 - Electric Plant ln-Service
Cr 108 - Accumulated Depreciation
Cr 421 - Miscellaneous Non-Operating lncome
t7,724 (t,773r,15,951 15,95 1
(9,32 1)
(4,908)
11,722r,
(14,6s8)
(3,066)
429
1,344
(r4,2291
(7,722],
(9,321)
9,32L
Dr
Cr
d,2. Reverce the estimated accumulated
depreciation of Sectionalizer
108 - Accumulated Depreciation
101 - Electric Plant ln-Service
8,083
(8,083)
8,083
(8,083)
e. Record the impact on income taxes from Pole
Dr
Cr
and Switches
409 - lncome Taxes
236 - Taxes Accrued
3,066
(3,066)
(1,344)
1,344
t,722
(7,722r,
1,722
(1.,722l.