Chapter 43A
GASOLINE OPERATIONS
INVENTORY ACCOUNTABILITY
1. Gasoline uses the cost accountability (current cost) method (closing inventory in litres multiplied by most current cost price); and
2. Propane uses the cost accountability (current cost) method.
FEDERAL/PROVINCIAL REQUIREMENTS
3. Federal and Provincial governments have enacted legislation regarding the handling of gasoline. Throughout Canada, all gasoline retail operators are required:
a. to be licensed under the Gasoline Handling Act in order to sell gasoline;
b. to carry out a daily dipstick measurement of holdings and record the results thereof; and
c. to carry out a daily water test and record the results thereof.
4. Accordingly, ExpressMart Managers selling gasoline shall take daily measurements of all tanks and record the results on the DSR.
GASOLINE PRICE CHANGES
5. While RPCs (CF 1343) are not required for gasoline retail price changes, the NPFAS must be advised by the Outlet Manager of all changes in selling price by means of a new DSR. For example, if the selling price is changed during the normal business day, two DSRs shall be submitted, one reflecting the sales up to the time of change of the selling price, and one from the time of change until the close of business. Meter readings (dollar amounts and litres) are to be taken at the time of the price change and are to be submitted to the NPFAS with the DSR.
6. ExpressMart Managers selling gasoline shall use the Gasoline Department DSR form (CF 1347), recording thereon the following information:
a. the opening and closing cash meter readings for each pump and for each type of gasoline (regular, mid grade, premium and diesel) and the net sales;
b. the opening and closing litre meter readings, unit price and net sales by volume for each type of gasoline;
c. dipstick readings and calculation of gasoline retail accountability.
NOTE:
The opening balance in the gasoline accountability record section is the previous day's closing inventory (dipstick). The book balance should be adjusted monthly by the over/short MTD to arrive at an adjusted opening balance for the next period. Water test readings;
d. the month-to-date sales information; and
e. the daily sales totals, non-cash transactions and cash deposit information.
7. The NPFAS shall, upon receipt of the DSR, perform all the necessary reconciliation including:
a. verify the calculation of gasoline cash meter readings and gasoline litre meter readings;b. reconcile the cash meter readings with the litre meter readings by multiplying the unit price with the pump meter readings;
c. reconcile the cash meter readings with the sales registered by the cash register;
d. verify the information recorded in the Accountability Record section; and
e. verify the sales information (dollar amounts) with the cash register tape submitted and the deposit.
NOTE:
The total cash meter readings take precedence over gasoline cash register readings. Accordingly, the difference between meter sales and gasoline register sales is added to/deleted from Cash Over/Short indicating a daily Total Over/Short (which is cumulative and accounted for).
STOCKTAKING
8. In the case of gasoline, a stocktaking is the supervised dipstick reading. The NPFAS shall promptly verify the information with the DSR submitted by the manager, resolve any differences with the parties involved and, if the confirmed month-to-date discrepancy (shortage or overage) by grade of gasoline is more than 0.5% of litres sold for the month for that grade, advise the CANEX RM who shall initiate action in accordance with Chapter 26.