Deferred Accounts. The Company will not permit the number of accounts deferred by the Company during any month, as a percentage of the total number of accounts serviced by the Company as of the last day of such month, to exceed one percent (1%).
Deferred Accounts. (a) The portion of the Deferred Amount designated to be credited to the Deferred Stock Account shall be credited to the Director’s Deferred Stock Account established on the books of the Corporation for this purpose. The amount credited to the Director’s Deferred Stock Account at the end of each quarter during the Term shall immediately be converted to Share Units by dividing the Deferred Amount by the Closing Price on the date that the Director would have received such fees and rounding the result to the nearest hundredth of a share. When the Corporation pays a dividend on its Shares, until the Director’s Deferred Stock Account has been fully distributed, the Director’s Deferred Account shall be credited with an additional number of Share Units equal to the number Shares (to the nearest hundredth of a share) which could have been purchased based upon the Closing Price of a Share with the amount of dividends that would have been received on the number of Shares related to the Share Units credited to the Director’s Deferred Stock Account. In the event of any stock dividend, stock split, combination of shares, recapitalization or the like of the common stock of the Corporation, the Corporation shall make appropriate adjustment in the number of Share Units credited to the Director’s Deferred Stock Account.
Deferred Accounts. The Parties agree to CWS’ use of deferred accounts for purchased water and sewer treatment services and for “non-revenue water.” In agreeing to the use of these deferred accounts, the Parties agree to CWS’ proposal to recover the cost of purchased water and purchased sewer treatment services as an expense incurred in the course of providing service. Under this change, customers of CWS who are water distribution customers where water is purchased from a third-party supplier and sewer collection only customers where treatment services are provided by a third-party processor will no longer be billed under a “pass-through” provision. Instead, CWS will treat purchased water and purchased treatment services as an expense and will record rate increases from third- party processors in one deferred account. In the second deferred account, CWS will record unrecovered bulk water expenses from third-party providers incurred by CWS and categorized as “non-revenue water.” CWS will record the unrecovered non-revenue water expenses and will implement a verifiable water loss control program. CWS will report on its progress to reduce non-revenue water in its next rate case. Further, CWS will seek recovery of the expenses booked through the deferred accounts in the next rate case. ORS will evaluate and verify the amounts of the deferred accounts and make recommendations related to recovery of third party provider rate increases and “non-revenue water” in CWS’ next rate case.
Deferred Accounts
