| Category: | Other |
| Subject: | Personal Net Worth Statements |
| ID: | 10738 |
| Date: | 9/16/2009 |
| Question: |
Re: Draft FIT rules July 10th, 13.3(a)(iv)(C), in the case where an individual is the Designated Equity Provider.
Typically, personal net worth statements for individuals are prepared using estimated 'fair market values', whereas company GAAP financial statements are prepared on a 'cost' basis. (1) Can you confirm that personal net worth statements prepared on a 'fair market value' basis are acceptable? (2) Is the requirement for individuals still two fiscal years or only one year? |
| Answer: |
Thank you for your questions.
If your project is considered a Capacity Allocation Exempt Facility, the questions do not apply. If your project is not a Capacity Allocation Exempt Facility, the OPA will consider your the issues you raised when determining evidence for personal net worth. |