HOUSE BILL NO. 776
AN ACT AUTHORIZING THE PUBLIC SERVICE COMMISSION TO EXPEND FUNDS FROM THE PUBLIC SERVICE COMMISSION REGULATORY REVOLVING FUND TO EMPLOY CONSULTANTS TO PERFORM A MANAGEMENT AUDIT.
WHEREAS, the Public Utilities Act of 1974, enacted June 28, 1974, provides for the funding of the operations of the Public Service Commission from a Regulatory Revolving Fund which is funded by assessments against regulated public utilities; and
WHEREAS, such assessments are required by law to be paid into said fund on or before the first day of April in each year or within thirty days after the determination of any special assessment; and
WHEREAS, the Regulatory Revolving Fund is to be used by the Public Service Commission in the performance of its various functions and duties as provided by law; subject always to annual appropriations by the General Assembly for salaries and other routine operating expenses of the Commission; and
WHEREAS, the Public Service Commission requires additional funds to initially pay for the Management Audit directed to be performed on Delmarva Power and Light Company the costs of which will subsequently be assessed back to the utility and deposited in the Regulatory Revolving Fund.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF DELAWARE:
Section 1. There is hereby authorized to be expended from the Public Service Commission Regulatory Revolving Fund the sum of $120,000 in addition to those funds authorized in the approved Budget for its operations to June 30, 1978, in accordance with the provisions of Section 116, Chapter 1, Public Service Commission, Title 26, Delaware Code.
Section 2. The funds authorized shall be allocated to the line item as follows:
30-11-000 Public Service Commission
(1) Management Audit - Consultant
(1) The $120,000 figure represents half of the contractual cost of the Management Audit. The balance is anticipated to be billed and paid in Fiscal Year 1979.
Approved June 1, 1978.