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Plant

Flexible Capital Forecasting

 

UI’s Plant Solution enables you to combine detailed capital budgets and actual accounting rules to produce multiple capital forecasts, both book and tax, in minutes rather than days or weeks. Automatically access recorded data from existing financial systems to marry with capital budgets, letting the systems do the heavy lifting and freeing users to do analysis.

With UI’s Plant Solution, you can:

  • ► Forecast plant book and tax at a level of detail and calculation methodology consistent with actuals.
  • ► Provide detailed project modeling that supports robust analysis and regulatory filings.
  • ► Possess the ability to forecast depreciation and tax rate changes and the flexibility to quantify different scenarios and support better decisions.

 

   “UI gives you capabilities you couldn’t do on your own—can look at a plant investment, how will this affect         our credit rating, balance between earnings and treasury—can run that all through the model.”

 

UISG Customer

 

 

The Power of our Plant Solution

 

Enable rolling monthly forecast

 

Maintaining a monthly rolling forecast reduces the chance for earnings surprises as the year progresses. Automated interfaces from actual accounting systems enable quick and low-risk monthly actualization so that planning departments can easily roll forecasts from month to month.

Improve forecast precision

 

Calculations such as Book Depreciation, AFUDC, Tax Depreciation, and Deferred Taxes directly impact earnings and revenue requirements, so accuracy is critical. Plant Book and Plant Tax have Standard Calculations that follow industry best practices and use the same methodology and level of detail as accounting systems, which eliminates potential variances caused by oversimplification and data aggregation.

Streamlined processes and fast turnaround

 

Supporting both Financial Planning and Regulatory using one consistent set of results increases efficiency, speed, and reduces risk.

End-to-end processing

 

Plant Book and Plant Tax include a series of cascading calculations: AFUDC, closings, retirements, book depreciation, tax depreciation, deferred taxes, and related rolling balances. Being able to run a comprehensive end-to-end process ensures no steps are left out and that all updates are accounted for.

DOWNLOAD THE SOLUTION SHEET

 

 

Learn how UI Solutions Group’s Plant Solution is Helping our Clients Succeed

Modules Commonly Integrated into the UI Plant Solution

UI partners with our client to bundle the appropriate combination of the 21 modules to address our client’s specific needs and achieve their business outcomes. This way, you get exactly what you need and nothing you don’t.

Plant Book
Plant Tax
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dba UI Solutions Group
150 N. Riverside Plaza
 Chicago, Illinois 60601
 Phone: 312-580-6200
 Fax: 312-580-6212
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CLIENT SUCCESS 1 Evaluating Multiple Capital Recovery Programs

Challenge

In the utility industry, an optimized capital program is critical to financial performance and regulatory recovery. Our client’s management needed multiple scenarios evaluated in detail to choose the best path forward. However, their spreadsheet process was so labor-intensive, error-prone, and time-consuming that it was difficult for them to analyze multiple capital investment options in a timely manner.

Solution

  • Implementing UI Solutions Group's Plant Book and Plant Tax solutions allowed the utility to efficiently process various capital forecasts, providing quick comparisons of plant accounting outcomes.
  • The powerful Calculation Rules Engine allows UI Solutions Group's Plant Book to accurately emulate actual, per-book, and plant accounting calculation rules and methodologies.
  • Our flexible interface technology made it easy to import actual recorded plant data, keeping the forecasts up-to-date.

Impact

Using UI Solutions Group's Plant Book and Plant Tax, the utility was able to settle on the optimal capital program that met the company financial goals and the needed transparency for regulatory recovery.

CLIENT SUCCESS 2 Anticipating Tax Law Change Impact

Challenge

Confronting material changes to tax rates and rules, our client’s forecasts needed to include scenarios accurately reflecting the anticipated impact. However, correctly forecasting fixed asset deductions requires many records of data and complex rules. Their tax accounting systems were too slow to forecast multiple years and spreadsheets wouldn’t be able to handle the requisite detail.

Solution

  • UI Solutions Group's Integrations were configured to import fixed asset tax return results from the client's tax accounting system.
  • Our Plant Tax calculations precisely followed established tax rules and methods, including ARAM. UI Solutions Group's in-memory processing enabled the client to quickly and accurately forecast its existing and projected assets to determine the impact of the tax rate change on current and deferred tax expense and deferred tax balances.
  • UI Solutions Group's Pivot Reporting was leveraged to summarize results for analysis, comparisons, and presentations.

Impact

Implementing UI Solutions Group's Plant Tax solution allowed the utility to quickly estimate the impact of the tax rate changes and develop its best course of action for customers, shareholders, and regulators.

CLIENT SUCCESS 3 Consolidated Financial Forecasting

Challenge

Due to a recent merger, our client needed to achieve consistency across the newly combined companies by consolidating their financial systems. However, each legacy company had unique best practices regarding plant accounting forecasts that couldn’t be immediately abandoned. A system would be required with sufficient flexibility to support the varying practices while simultaneously producing an accurate and consistent consolidated view.

Solution

  • UI Solutions Group's Plant Book and Plant Tax solution was installed enterprise-wide providing standardized calculations and consolidated reporting of plant accounting forecasts across the enterprise.
  • Interfaces with the general ledger, plant accounting, and tax accounting systems followed a consistent methodology across companies.
  • UI Solutions Group's administrator-defined user interfaces and a highly customizable Workflow Framework enabled the different companies to each retain their legacy business processes without compromising consistent corporate results.

Impact

The combined enterprise achieved an efficient process to gather capital project data and apply standardized calculations, achieving consistent and consolidated plant accounting and tax forecasts. At the same time the semi-autonomous entities were able to retain the proven business processes that best suited their unique cultures.

Plant Book Module

Having a detailed, reliable forecast of current construction work, plant in-service, and depreciation is important. UI’s Plant Book Module does this for you by interfacing with plant accounting and budget systems to produce an accurate and detailed capital forecast to support all your financial planning and regulatory filing needs.

DOWNLOAD THE SOLUTION SHEET
This Module integrates with other modules as part of the following solution:


Plant