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HomeMy WebLinkAbout2020Annual Report.pdfCATT\T. AA{IYLTAL REPORT OF Cambridg e Telephone Company NAME PO Box 69 Cambridge, lD 83610 ADDRESS TO THE IDAHO PUBLIC UTILITIES GOMMISSION FOR THE YEAR ENDED I -r.a t.:1' - 1...! ,..:.' :i: "li. -*{ I,-,... 0^t :r"i ' sll lsr' -:: . -,llb r.r!i r- i :1* C])() J::- ;i ry1 "t!iI"i I l. !l IIl.I a ANNUAL REPORT OF SMALL TELEPHONE COMPANIES TO THE IDAHO PUBLIC UTILITIES COMMISSION FOR THE YEAR ENDING DECEMBER 31, 2O2O COMPANY INFORMATION Exact name of utility: Cambridge Telephone Company Address of principal office:P.O. Box 69. Cambridoe. lD 8361 0 Telephone Number Area Code f!Qg_) 257-3314 Emailaddress:ns@ctctele.com Cities or towns served: Cambridge, Council, lndian Valley, Cuprum, Lowm Name and title of officer having custody of the general corporate books of account: Richard Wiggins, General Manage 0 Address of office where corporate books are kept and phone number: P.O. Box 88,130 Suoerior Street. Cambridoe. lD 83610, (208) 257-3314 Organized under the laws of the State of:ldaho Date of organization 1966 Form of organization (proprietorship, association, corporation): lf a Subchapter S Corporation, please specify: N/A Name and address of controlling company, if N/A Corporation Names of affiliated companies. Give address and description of business: CTC Telecom. lnc.. P.O. Box 69. Cambridqe, lD 836 1 0-Telecommun ications, I nternet and \rVi reless (CLEC) OFFIGERS Report below the title, name and office address of each general officer of tl year. lf there were any changes during the year, show the name, title, and officer and the date of change. Title President Name Richard Wiqqins Address P.O. Box 88, Cambridge, lD 83610 Vice President Kermit Wiggins P.O. Box 88, Cambridge, lD 83610 Secretary Kristie Kanady P.O. Box 353, Cambridge, lD 83610 Treasurer Joana Wiqoins P.O. Box 88, Cambridge, lD 83610 Rev 3/02 Page 1 These financial statements have not been subjected to an audit, review or compilation engagement, and no assurance is provided for them. DIRECTORS List the name of each person who was a member of the Board of Directors at any given time during the year: (Fees related to meetings only.) Name and Address Term Expired or Current Term WillExpire Meetings Aftended This year Fees Paid During Year Kermit Wiggins lndefinite P.O. Box 88 Cambridge,lD 83610 Richard Wiggins lndefinite P.O. Box 88, Cambridge, Joana Wiggins P.O. Box 88, Cambridge, Karen Wiggins tD 83610 lndefinite tD 83610 lndefinite P.O. Box 88, Cambridge, Kristie Kanady tD 83610 lndefinite P.O. Box 88, Cambridge,lD 83610 Name of Chairman of the Board: Kermit Wiggins Name of Secretary (or Clerk) of Board:Kristie Kanady Number of Meetings of the Board during the year: MANAGERS List the name of each person who performed management duties for the Company during the year, and the total wages and bonuses paid to those persons: (Do not include Director fees in these amounts.) Name Title Wages and Bonuses Paid Richard Wggins President Confidential Kristie Kanady Secretary/Treasurer Confidential Jerry Piper Assistant Manager Confidential Rev 3/02 Page2 These financial statements have not been subjected to an audit, review or compilation engagement, and no assurance is provided for them. NOTES TO THE FINANCIAL STATEMENTS Please provide important information such as changes in accounting or depreciation practices, extensions or additions to the system; disposal of any substantial portion of the property of the utility; reorganization, mergers, or consolidations with other companies, leases executed; other contracts or agreements entered into; changes made in articles of incorporation or amendments; the occurrence of contingency losses or gains. 1 ln 1998, CTC Telecom, lnc. (CTC), a wholly-owned subsidiarv of Cambridqe Telephone Companv, was incorporated, with an initial investment of $100,000. CTC operates as a Competitive Local Exchange Carrier in the state of ldaho. Additional capital investments of $6,900,000 have been made through December 31, 2020. 2 Cambridge Telephone Company (Cambridge) is a member of Syringa Networks, LLC, an ldaho Limited Liability Company. Cambridge's investment in Syringa as of December 31, 2020 was $4,909,548 (equity method investment) 3 As of December 31, 2020, the Company has three loans with Zions Bank of $1,828,627 $2,21 1,468, and $638,775 respectively 4 As a result of chanqes in accountinq standards for ooodwill. Cambridoe elected to amortize their remaininq qoodwill beqinninq in 2014 This resulted in amortization exoense of $169,166 in2020. The accountinq chanqe is to be applied prospectively, resultinq in no changes to prior year statements. 5 The Company opted into the A-CAM model-based support and is eligible to receive $2,891,180 annually until 2028. Rev 3/02 Page 3 These financial statements have not been subjected to an audit, review or compilation engagement, and no assurance is provided for them. Title of Account Gurrent Assets1120 Cash and Equivalents1130 Cash1140 SpecialCashDeposits1150 Working Cash Advances1160 Temporarylnvestments1'180 TelecommunicationsAccts. Receivable1181 Accts. Rec. Allow. -Telecommunications 1 190 Other Accounts Receivable1191 Accounts Receivable Allow. - Other1200 Notes Receivable1201 Notes Receivable Allowance1210 lnterest & Dividends Receivable1220 MaterialandSupplies1280 Prepayments1290 Prepaid Rents1300 Prepaid Taxes1310 Prepaid lnsurance1320 Prepaid Directory Expenses1330 Other Prepayments1350 Other Current Assets Noncurrent Assets1401 lnvestment in Affiliated Companies1402 lnvestment in Nonaffiliated Companies1406 Nonregulated lnvestments1407 Unamortized Debt lssuance Expense1408 Sinking Funds1410 Other Noncurrent Assets1438 Deferred Maintenance & Retirements1439 Deferred Charges1500 Other Jurisdiction Assets - Net Property, PIant and Equipment2001 Telecommunications Plants in Service2002 Prop. Held for Future Telecom. Use2003 Telecom. Plant under Constr. - Short Term2004 Telecom. Plant under Constr. - Long Term2005 Telecom. Plant Adjustment2006 Nonoperating Plant2007 Goodwill Depreciation and Amortization Accounts3100 AccumulatedDepreciated3200 Accum. Depre. - Held for Future Use3300 Accumulated Depreciation - Nonoperating3400 Accumulated Amortization - Tangible3410 Accum. Amort. - Capitalized Leases3420 Accum. Amort. - Leasehold lmprovements3500 Accumulated Amortization - Intangible3600 Accumulated Amortization - Other TOTAL ASSETS Rev 3/02 BALANCE SHEET Assets and Other Debits Balance Beginning of Year 756,493 lncrease or (Decrease) -7,4-T (31e,081) Balance at End of Year 264,047 331,988 67,941 1,177,238 1,055,595 (21,443) 309,655 535,511 225,856 -17,oE,- =--zyr ---(1?.j42fr1 -r4T 50,215 34,820 (15,395) 3,038,992--354;05X 7,384,378 -ns7m'r 4,345,386 563,452 562 123 (43s) 21 18 115 (3,621) 1,470 1,470 23,938,300 24,031,068 92 768 280,094 317,623 37,529 676,663 507,497 (169,166) 19,076,425 19,675,231 598,806 16,286,232 20,207,913 3,921,681 Page 4 These financial statements have not been subjected to an audit, review or compilation engagement, and no assurance is provided for them. BALANCE SHEET Liabilities & Stockholders' Equity Title of Account Current Liabilities Accounts Payable Notes Payable Advance Billings and Payments Customer Deposits Current Maturities - Long -Term Debt Current Maturities - Capital leases lncome Taxes - Accrued Other Taxes - Accrued Net Current Defer. Oper. lncome Taxes Net Current Defer. Nonoper. lncome Taxes Other Accrued Liabilities Other Current Liabilities Long-Term Debt Funded Debt Premium on Long-Term Debt Discount on Long-Term Debt Reacquired Debt Obligations Under Capital Leases Advances from Affiliated Companies Other Long-Term Debt Other Liabilities & Deferred Gredits Other Long-Term Liabilities Unamort. Oper. lnvest. Tax Credits - Net Unamort. Nonoper. lnvest. Tax Credits - Net Net Noncurrent Defer. Oper. lncome Taxes Net Noncur. Defer. Nonoper. lncome Taxes Other Deferred Credits Other Juris. Liab. & Def. Credits - Net Stockholders' Equity CapitalStock Additional Paid-ln Capital Treasury Stock Other Capital Retained Earnings 4010 4020 4030 4040 4050 4060 4070 4080 41 00 4110 4120 41 30 4210 4220 4230 4240 4250 4260 4270 431 0 4320 4330 4340 4350 4360 4370 451 0 4520 4530 4540 4550 Balance Beginning ofYear 202,264 404,093 86 148 13,619 197 170 1,549,090 899,662 (122,207\ 17,885 221 703 30,000 Balance at End of Year 163,319 lncrease or (Decrease) (38,945) 255,310 (148,783) 152,864 66 716 6,1 90 1,110,917 8,890 820,000 2 700 (2e0,e 17) 14,277 659 260,591 63 421 3,858,870 2,309,780 923,636 23,974 (212,946\(90,739) 8,799 (9,086) 1 99,1 45 (22,558) 30,000 (247,511)(397,s1 1)(150,000) 11,917,210 14,122,669 2,205,459 TOTAL LIAB. & OTHER CREDITS 16,286,232 20,207,913 3,921,681 Rev 3/02 Page 5 These financial statements have not been subjected to an audit, review or compilation engagement, and no assurance is provided for them. 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Book Cost of lnvestments Disposed of This vear Book Cost of lnvestments Held at End of Year 7,384,378 Description CTC Telecom, lnc Date Acquired 1998 Cash value life insurance Syringa Networks, LLC 2000-2008 4,909,548 151 439 NRTC 2003-2020 36,517 Totals 12 481 883 RECElVABLES Itemize amounts show in Accounts 1 1 80, 1 1 90 and 1200. For notes receivable list each note separately and include the maturity date and interest rate. Minor amounts in Account 1210 may be combined. Amount at End of Year Name of Companv Due from customers Notes Receivable Accounts Receivable 331 lnterexchanqe carriers 988 374,250 CTC Telecom lnc.667 991 13,354Other Totals 1,387,583 Rev 3/02 Page 10 These financial statements have not been subjected to an audit, review or compilation engagement, and no assurance is provided for them. NOTES PAYABLE For Notes Payable, list each note separately and include the maturity date and interest rate. lntorest Name of Creditor Date of Note Rate Due Date Face Amount , Ford Credit line of credit '1012812020 255,310 Totals 255 310 ACCOUNTS PAYABLE Report below all Accounts Payable amounting to more than $100.00 Name of Creditor Bankcard Center Amount 15 127 Blue Cross of ldaho 5484 BKD LLP 5243 Computer Technology lnc o 663 ldaho Dept of Commerce 3,278 ldaho Power 318 Kermit Wioqins 30 000 lnterstate TRS Fund 129 Neustar lnfo Services 't,204 Power and Telephone Supply 24,636 Universal Service Admin 6,407 IRS 13 145 Vermeer 31,250 Sales and Use Tax 12 151 Other Miscellaneous 939 Totals '163,31 I Rev 3/02 Page 11 These financial statements have not been subjected to an audit, review or compilation engagement, and no assurance is provided for them. 5 EoE o Eo =o o. ,]2 o(JCG =oooocioco {jco EoE,,oo,co C.oso- Eoo Lo =.o o €:o =(E EGo E'o (-)o loco0)-o oc o) (o -c artc(, Eoo U' E'6coc ooo F N oED(U(L No (f) o)t lr)roo(olo ot* @. @lo@, (f) EoF ooqo(\l @ oo '= =G E CoL f(.,oooJ NLOrt- t* soq (t) roF-F-- @(t) @ oc{o(\I oocoloi- @NoN -ooo Eooc tL .YC(Emc .oN oN F-N soq (r) o(oa c! N o)q @q N t-NoN oNoC\t oz Loo.9 Eo o- .v.cotr)coN (o@a C! soq (f) F-Nq @Noq oc\lo(\t ooo-o o)_ i-NoC\ oz aoal, .9 Eo o- .YCom CoN cltl..ol EIEI blEIrlanl EIol El *ldl =,*El =ls slBt aol EI .=lel EtEt 6to.t Ft E'I fEtEsl=>lo cfoooo -co(Uo o .9.o o o,C =oc,o !,co o-oE =c c =ooo(oci BEEo(1)_-c .=--g.sNo-ffoOF ?3.9otc>31 HSs€g3€oc'E.- (uE>€tlql9.9.== -Lbe(E0U'g:9€_>-cEo'=GOaobEs=gEGtrE-_o EO =irBgL-ooo4>. i/, (! == 6r,rttl t!o Nt d(ONt clroNtdtN\f d Nrfo )ooo @ UJo =E, LrJ !ozoJ Trleatl HEEIE E:tI<=l<t EI .g * '=l 80El =l g* glg "-gl o.9 ct ,8.*lc6.Eo -ol8()1oot CAPITAL STOCK Report below the particulars called for concerning common and preferred stock at end of year, designating separate series of any general class. Show totals separately for common and preferred. For each class of preferred stock, show the dividend rate and whether dividends are cumulative or noncumulative. Show details in a footnote of capital stock sold during the year. lnclude number of shares, consideration received, premium or discount, and expenses incurred. Glass & Series of Stock Common stock Number of Shares Authorized 30 000 Par Value oer Share $ 1.00 Outstanding per Balance Sheet Shares 30,000 179766 30,000 Rev 3/02 Page 13 These financial statements have not been subjected to an audit, review or compilation engagement, and no assurance is provided for them. Item INCOME & RETAINED EARNINGS STATEMENT TotalCompany ldaho Only TotalOperating lncome (from page 15) Total Operating Expenses (from page 17) 7100 Other Operating lncome and Expense 7210 Operaling lnvestment Tax Credits-Net 7220 Operating Federal lncome Taxes 7230 Operating State and Local lncome Taxes 7240 Operaling Other Taxes 7250 Provision for Deferred Operating lncome Taxes-Net 7200 Operating Taxes (Total) 4,893,125 Same as total company3,970,881 26,412 366 723 4,239 43,852 (115,73s) 325,491 7310 7320 7330 7340 7350 7360 7370 7300 7410 7420 7430 7440 7450 7400 Dividend lncome lnterest lncome lncome from Sinking and Other Funds Allowance for Funds Used During Construction Gains/Losses from the Disposition of Certain Property Other Nonoperating lncome SpecialCharges Nonoperating lncome and Expense Nonoperating lnvestment Tax Credits-Net Nonoperating Federal lncome Taxes Nonoperating State and Local lncome Taxes Nonoperating Other Taxes Provision for Deferred Nonoperating lncome Taxes-Net Nonoperating Taxes lnterest on Funded Debt lnterest Expense-Capital Leases Amortization of Debt lssuance Expense Other lnterest Deductions lnterest and Related ltems 0 64 0 122 547 (11,716) 110 895 0 247 456 81 836 (e,086) 320 206 7510 7520 7530 7540 7500 54 594 103 977 439 153 '159 163 7610 Extraordinary lncome Credits 7620 Extraordinary lncome Charges 7630 Current lncome Tax Effect of Extraordinary ltems-Net 7640 Provision for Deferred lncome Tax Effect of Extraordinary ltems-Net 7600 Extraordinary ltems 7910 lncome Effect of Jurisdictional Ratemaking Differences-Net 7990 Nonregulated Net lncome 977 180 AMOUNT TRANSFERRED TO RETAINED EARNINGS 2,205,459 Rev 3/02 Page 14 These financial statements have not been subjected to an audit, review or compilation engagement, and no assurance is provided for them. Item OPERATING REVENUES TotalCompany ldaho Only 5001 5002 5003 5004 501 0 5040 5050 5060 5069 Local Network Services Revenues Basic Area Revenue Optional Extended Area Revenue Cellular Mobile Revenue Other Mobile Services Revenue Public Telephone Revenue Local Private Line Revenue Customer Premises Revenue Other Local Exchange Revenue Other Local Exchange Settlements Network Access Services Revenues End User Revenue (SLC) Switched Access Revenue (lnterstate) Special Access Revenue State Access Revenue (lntrastate) Long Distance Network Services Revenues Long Distance Message Revenue - All Miscellaneous Revenues Directory Revenue Rent Revenue Corporate Operations Revenue Special Billing Arrangements Revenue Customer Operations Revenue PIant Operations Revenue Other lncidental Regulated Revenue Other Revenue Settlements Carrier Billing & Collection Revenue Uncollectible Revenues Uncollectible Revenue - Telecommunications Uncollectible Revenue - Other 505,474 82,828 2,921,360 176,482 843,579 1 00,1 00 250,724 5,578 2,800 2,421 0 779 totalcompany Same as 5081 5082 5083 5084 51 00 5301 5302 5230 5240 5250 5261 5262 5263 5264 5269 5270 TOTAL OPERATING REVENUES 4,893,125 Please identify the following revenues: NECA USF $_2,891,180_. To what account were they booked? State USF $_1 38, 162_. To what account were they booked? 5069.1 5084.52 Rev 3/02 Page 15 These financial statements have not been subjected to an audit, review or compilation engagement, and no assurance is provided forthem. Item OPERATING REVENUES Total Gompany ldaho Only Plant Specific Operations Expense 6110 Network Support Expenses 6112 Motor Vehicle Expense 6113 Aircraft Expense 6114 Special Purpose Vehicles Expense 6115 Garage Work Equipment Expense 6116 Other Work Equipment Expense 6120 General Support Expenses 6121 Land and Building Expenses 6122 Furniture and Artworks Expense 6123 Office Equipment Expense 6124 General Purpose Computers Expense 6210 Central Office Switching Expenses 6211 Analog Electronic Expense 6212 Digital Electronic Expense 6215 Electro-Mechanical Expense 6220 Operators System Expense 6230 Central Office Transmission Expenses 6231 Radio Systems Expense 6232 Circuit Equipment Expense 631 0 lnformation Originationffermination Expense 631'l Station Apparatus Expense 6341 Large Private Branch Exchange Expense 6351 Public Telephone Terminal Equipment Expense 6362 Other Terminal Equipment Expense 6410 Cable and Wire Facilities Expenses 6411 Pole Expense 6421 Aerial Cable Expense 6422 Underground Cable Expense 6423 Buried Cable Expense 6424 Submarine Cable Expense 6425 Deep Sea Cable Expense 6426 lntrabuilding Network Cable Expense 6431 Aerial Wire Expense 6441 Conduit Systems Expense Same as 8,219 totalcompany 96,425 20,943 109,230 136,282 13,397 291 155 325,040 TOTAL PLANT SPECIFIC OPERATIONS EXPENSE 1,000,691 Rev 3/02 Page 16 These financial statements have not been subjected to an audit, review or compilation engagement, and no assurance is provided for them. a Item OPERATING REVENUES TotalCompany ldaho Only Plant Nonspecific Operations Expense 6510 Other Property/PlanUEquipment Expenses 6511 Property Held for Future Telecomm. Use Expenses 6512 Provisioning Expense 6530 Network Operations Expense 6531 Power Expense 6532 Network Administration Expense 6533 Testing Expense 6534 Plant Operations Administration Expense 6535 Engineering Expense 6540 Access Expense 6560 Depreciation and Amortization Expenses 6561 Depreciation Expense-Telecom. Plant in Service 6562 Depreciation Expense-Property Held for Future Use 6563 Amortization Expense - Tangible 6564 Amortization Expense - lntangible 6565 Amortization Expense - Other Total Plant Nonspecific Operations Expenses Customer Operations Expense 66'10 Marketing 661'1 Product Management 6612 Sales 6613 Product Advertising 6620 Services 6621 Call Completion Services 6622 Number Services 6623 Customer Services Total Customer Operations Expense 6710 6711 6712 6720 6721 6722 6723 6724 6725 6726 6727 6728 6790 Corporate Operations Expense Executive and Planning Executive Planning General and Administrative Accounting and Finance External Relations Human Resources lnformation Management Legal Procurement Research and Development Other General and Administrative Provision for Uncollectible Notes Receivable Total Corporate Operations Expense Same as total company 192,538 50 2,231 69,517 1,328,882 1 69,166 1 762 384 41,962 8,592 '166,917 217 471 413,615 341,897 0 4,660 990,335 TOTAL OPERATING EXPENSES 3,970,881 Rev 3/02 Page 17 These financial statements have not been subjected to an audit, review or compilation engagement, and no assurance is provided for them. 0 230 163 EoE o Eo)E o o_ .v, o)oLo =@o(U o !c(, JJco Eoo)Go)co Co G'o- Eoo o =o't o) =Ef,(It Coo !ooob- JU'cc)o)-o oc o) (U -c. 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NroN j-t at,o) x (D o_ P rloxl I:-ro) EgEoo< aol(!loll!lol oJtrl =lololol.Jlol<t .aCL CLagtHxl5P' S< lqEe-l 9O=irrE.cjg 0 (DOATE co =a o)o o E oO irio F C\ rc ooE -oEoO iio o (E Coo o 0.) Eoz t (f)\N@BE>.=<J Eo o EoE'=o o. .9.ooc(EL =oooocEc(U co) Eoo)oo, Locog o-EoC) Lo =0),' oL E)o tr(E o Eooo,b-:Jutcooc oCo oEtt =0) E0)oo6ococ oooct- o, oE')c,IL -lE F-l EHI fisl.h '-lE3lcrl I ol(l.t ^rlE @-lE3lE-l 6lLIol'ElLI(El OI -lg ol_t(EI olFIJdol (ElCIdl'=lolal (El OI_tolFI JNIolNI.I .Eo:o =trlootrut =o U'fo oo uJF IJJ o- =oo 3 ottoutuE =:)z EP>.=<J (f)rOrr)+tEB $E?93 6<b5 No (f, otOrN(Y)Slr)(Ol-@ o,lr)N NrON$e6N€€,xl.r,UJN6E()FQoJEDp -oE(sOcr o)@Nl.r)lc a', ANNUAL REPORT FOR SMALL TELEPHONE COMPANIES YEAR ENDED DECEMBER 3'1,2020. CUSTOMER RELATIONS RULES COMPLIANCE Rule IDAPA 31.21.01.603 Rule IDAPA 31.41.01.1 05 Please provide copies of: Summarv of Customer Relations Rules for Teleohone Corporations ldaho Teleohone Solicitation Act Notification Method of Notification: Mailed separately to customers Yes X No_ lncluded in directory Yes_ No X Date of notification 1211120 Alternate method of notification Rule IDAPA 31.41.01 .403.02 Record of Complaints: Number received by Company Category of complaints (if known): Deposit Disputes Charges on Bill Denial/Termination Quality or AvailabilitY of Service Carrier Selection/Assignment Miscellaneous Rev 3/02 11 7 4 Page 20 These financial statements have not been subjected to an audit, review or compilation engagement, and no assurance is provided for them. I a |l (r i CERTIFICATE State of ldaho County of Washington WE, the undersigned RICHARD WGGINS of the CAMBRIDGE TELEPHO utility on our oath do severally say that the foregoing return has been prepared under our direction, from the original books, papers, and records of said utility; that we have carefully examined same, and declare the same to be a correct statement of the business affairs of said utility for the period covered by the return in respect to each and every matter and thing therein set forth, to the best of our knowledge, information and belief - in Charge ss t Subscribed and Sworn to Before Me this gday of /rr") Aoril )o7l, (Year) 9et{F . 4f ublic My Commission expires 2-7 , (Year) Jo zz. 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