# Accounting Requirements for RUS Telecommunications Borrowers
> **Rural Utilities Service** · Final rule. · Published 2005-05-16 · Effective 2005-06-15 · 70 FR 25753
## Document
- **Document number:** 05-9648
- **Category:** rural-development
- **Sub-agency:** Rural Utilities Service
- **Federal Register citation:** 70 FR 25753
- **CFR reference:** 7 CFR 1770
- **Publication date:** 2005-05-16
- **Effective date:** 2005-06-15
## Abstract

The Rural Utilities Service (RUS), an agency delivering the U.S. Department of Agriculture's Rural Development Utilities Programs, is amending its regulations on accounting policies and procedures for RUS Telecommunications Borrowers as set forth in RUS's regulations concerning Accounting System Requirements for RUS Telecommunications Borrowers. This final rule adopts some recent accounting changes made by the Federal Communications Commission (FCC). These changes include increasing the expense limit for some assets excluding personal computers, allowing tools and test equipment located in the central office to be expensed under the new limitation. This final rule affirms the use of Class A accounts by RUS borrowers; maintains the expense matrix requirements; maintains the requirement that borrowers request prior approval to record extraordinary items, prior period adjustments, and contingent liabilities; establishes policies and procedures to permit RUS borrowers to follow Prudent Utility Practice regarding the storage and retention of business records; and eliminates certain Telecommunications Plant Under Construction accounts. This final rule also adds three new accounting interpretations on Allowance for Funds Used During Construction, Reporting Comprehensive Income, and Disclosures About Pensions and Other Postretirement Benefits.

## Source
- [Federal Register document](https://www.federalregister.gov/documents/2005/05/16/05-9648/accounting-requirements-for-rus-telecommunications-borrowers)
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