Incumbent Local Exchange Carriers (ILECs) that follow Part 32 FCC regulations are required to maintain continuing property records (CPRs). A focal point of USAC audits is reviewing property records for adequate support for rate bases. Property records enhance the accuracy of plant accounting, are integral in developing cost separation studies, improve budgeting and forecast and can be useful in property tax reporting. Well developed property records break down all your capital assets by distinguishable property units that reconcile to your general ledger of accounts. CPRs can solidify the link between your accounting and plant departments.
Wireless entities are often asked by regulators and others to verify how their Universal Service Funds (USF) are being spent. Wireless property records do just that. Although they are not required by the FCC, property records for wireless companies are vital to accounting and replacement plans. Wireless assets are often replaced quicker than wireline assets and it is imperative that the electronics at each wireless site are accounted for. Wireless property records break down assets by wireless site to pinpoint where future upgrades might be needed or where a swapping of assets from one site to another might be appropriate.