2008Annual Report.pdf

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,2009 APR is Mri9:30
ANNUAL REPORfJèiö
OF FR Ë..¥
Fremont . Telcom, Inc.
NAME
iiOEast Main Street-St. Anthony, ID 83445
ADDRESS
TO THE
IDAHO PUBLIC
UTILITIES COMMISSION
FOR THE
YEAR ENDED 2008
ANNUAL REPORT OF SMALL TELEPHONE COMPANIES TO
THE IDAHO PUBLIC UTILITIES COMMISSION
FOR THE YEAR ENDING _December 31, 2008_
COMPANY INFORMATION
Exact name of utilty: Fremont Telcom
Address of principal offce: 110 East Main Street, Saint Anthony, ID 83445-1543
Telephone Number Area Code [phone] E-mail address: jmanterolacæfairpoint.com
Cities or towns served: Saint Anthony, Ashton, Teton, and Island Park, ID
Name and title of offcer having custody of the general corporate books of account:
Lisa Hood
Address of offce where corporate books are kept and phone number:
908 W. Frontvew, Dodge City, KS 67801-0199 (620) 227-400
Organized under the laws of the State of: Idaho
Date of organization: March 9, 1994
Form of organization (proprietorship, association, corporation): COrporation
If a Subchapter S Corporation, please specify:\
Name and address of controllng company, if any: FairPoint Communications, 521 East Morehead,
Chartotte, NC 28202
Names of affliated companies. Give address and description of business:None
OFFICERS
Report below the title, name and offce address of each general offcer of the utilty at the end of the
year. If there were any changes during the year, show the name, title, and address of the previous
offcer and the date of change.
Title
Chairman and CEO
COO
Senior VP & General Counsel
Exec FP External Relations
Senior VP & Controller
ExecVP/CFO
Exec VP/CFO began 914/08
VP of Regulatory Affairs
Sr VP, Human Resources
Sr VP, Strategy and Development
VP, Internal Audit
VP & Treasurer
VP, Asst Secretary & Asst Gen Counsel
VP, Corporate Communications
Name
Eugene B. Johnson
Peter G. Nixon
Shirley J. Linn
Jeffrey Allen
Lisa R. Hood
John Crowley
Alfred C. Giammarino
Patrick L. Morse
Gary C. Garvey
Richard F. Preti
David M. Remele
Thomas E. Griffn
Susan L. Sowell
Rose B. Cummings
Rev 3/02 Page 1
Address
521 E. Morehead; Suite 250 Charlotte, NC 28202
521 E. Morehead; Suite 250 Charlotte, NC 28202
521 E. Morehead; Suite 250 Chartotte, NC 28202
1 Davis Farm Rd; Portland, ME 04103
908 W. Frontview; PO Box 199 Dodge City, KS 67801
521 E. Morehead; Suite 250 Charlotte, NC 28202
521 E. Morehead; Suite 250 Chartotte, NC 28202
908 W. Frontview; PO Box 199 Dodge City, KS 67801
521 E. Morehead; Suite 250 Charlotte, NC 28202
1 Davis Farm Rd; Portland, ME 04103
521 E. Morehead; Suite 250 Charlotte, NC 28202
521 E. Morehead; Suite 250 Charlotte, NC 28202
521 E. Morehead; Suite 250 Chartotte, NC 28202
521 E. Morehead; Suite 250 Charlotte, NC 28202
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
Eugene B. Johnson
Peter G. Nixon
Alfred C. Giammarino
Shirley J. Linn
Lisa R. Hood
Susan L. Sowell
Term Expired
or Current Term
Wil Expire
Meetings Attended
This year
Address for all is 521 E. Morehead, Ste 250, Charlotte, NC 28202
Name of Chairman of the Board: Eugene B. Johnson
Name of Secretary (or Clerk) of Board: Shirley J. Linn
Number of Meetings of the Board during the year: 4
Fees Paid
During 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
N/A
Rev 3/02
Title
Page 2
Wages and Bonuses Paid
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 propert of the utilty;
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.
Rev 3/02 Page 3
BALANCE SHEET
Assets and Other Debits
Baiance Baiance Increase
Beginning at Ena orTitle or Account or Year or Year (DeCrease)
Current Assets
1120 Cash and Equivalents 65,518 27,313 (38,206)
1130 Cash
1140 Special Cash Deposits
1150 Working Cash Advances 700 700
1160 Temporary Investments
1180 Telecommunications Accts. Receivable 133,889 58,378 (75,511)
1181 Accts. Rec. Allow. -Telecommunications (29,749)(21,130)8,619
1190 Other Accounts Receivable 1,620,094 2,279,095 659,001
1191 Accounts Receivable Allow. - Other
1200 Notes Receivable
1201 Notes Receivable Allowance
1210 Interest & Dividends Receivable
1220 Material and Supplies 104,346 140,193 35,847
1280 Prepayments
1290 Prepaid Rents 101,131 109,465 8,334
1300 Prepaid Taxes
1310 Prepaid Insurance
1320 Prepaid Directory Expenses
1330 Other Prepayments
1350 Other Current Assets 18,980 14,262 (4,718)Noncurrent Assets
1401 Investment in Affliated Companies 112,360 112,360
1402 Investment in Nonaffliated Companies 1,647,906 1,943,957 296,051
1406 Nonregulated Investments 62,243 34,292 (27,951 )
1407 Unamortized Debt Issuance Expense
1408 Sinking Funds
1410 Other Noncurrent Assets
1438 Deferred Maintenance & Retirements 313,839 487,821 173,982
1439 Deferred Charges
1500 Other Jurisdiction Assets - Net
Propert, Plant and Equipment
2001 Telecommunications Plants in Service 30,172,230 30,757,697 585,467
2002 Prop. Held for Future Telecom. Use
2003 Telecom. Plant under Constr. - Short Term 721,382 600,682 (120,700)
2004 Telecom. Plant under Constr. - Long Term
2005 Telecom. Plant Adjustment
2006 Nonoperating Plant
2007 Goodwill 3,998,088 3,998,088
Depreciation and Amortization Accounts
3100 Accumulated Depreciated (25,926,676)(27,233,419)(1,306,742)
3200 Accum. Depre. - Held for Future Use
3300 Accumulated Depreciation - Nonoperating 1,239,065 1,239,065
3400 Accumulated Amortization - Tangible
3410 Accum. Amort. - Capitalized Leases
3420 Accum. Amort. - Leasehold Improvements
3500 Accumulated Amortization - Intangible
3600 Accumulated Amortization - Other
TOTAL ASSETS 13,116,280 14,548,818 1,432,539
Rev 3/02 Page 4
BALANCE SHEET
Liabilties & Stockholders' Equity
Balance Balance Increase
Beginning at End or
Title of Account of Year of Year (Decrease)
Current Liabilties
4010 Accounts Payable 917,583 2,545,674 1,628,091
4020 Notes Payable
4030 Advance Billngs and Payments (96)96
4040 Customer Deposits 14,771 17,441 2,670
4050 Current Maturities - Long -Term Debt
4060 Current Maturities - Capital leases
4070 Income Taxes - Accrued 168,076 (1,836)(169,912)
4080 Other Taxes - Accrued 19,294 14,879 (4,415)
4100 Net Current Defer. Oper. Income Taxes
4110 Net Current Defer. Nonoper. Income Taxes
4120 Other Accrued Liabilities 75,018 50,138 (24,880)
4130 Other Current Liabilities
Long-Term Debt
4210 Funded Debt
4220 Premium on Long-Term Debt
4230 Discount on Long-Term Debt
4240 Reacquired Debt
4250 Obligations Under Capital Leases
4260 Advances from Affliated Companies
4270 OtheDDDDDDDDerm Debt
Other Liabilties & Deferred Credits
4310 Other Long-Term Liabilities 437,442 442,390 4,948
4320 Unamort. Oper. Invest. Tax Credits - Net
4330 Unamort. Nonoper. Invest. Tax Credits - Net
4340 Net Noncurrent Defer. Oper. Income Taxes
4350 Net Noncur. Defer. Nonoper. Income Taxes 373,896 804,955 431,059
4360 Other Deferred Credits
4370 Other Juris. Liab. & Def. Credits - Net
Stockholders' Equity
4510 Capital Stock 6,120 6,120
4520 Additional Paid-In Capital 16,275,508 16,275,508
4530 Treasury Stock
4540 Other Capital
4550 Retained Earnings (5,171,332)(5,606,451 )(435,119)
TOTAL L1AB. & OTHER CREDITS 13,116,279 14,548,818 1,432,539
Rev 3/02 Page 5
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INVESTMENTS
Report below the investments in Accounts 1401, 1402 and 1406. Identify each investment as to the
account in which included. Minor amounts in Account 1406 may be grouped by classes.
Description
Internet, Lease, Payphone Eq
Fall River Electric Dividends
Syringa Network
Fremont Broadband
Totals
Date Acquired
1997-2008
Mar-OO
2001-2002
2004
Book Cost of
Investments
Disposed of
This year
RECEIVABLES
Book Cost of
Investments
Held at
End of Year
34,292
3,239
1,940,718
112,360
2,090,609
Itemize amounts show in Accounts 1180, 1190 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.
Name of Company
Customers
CABS
NECAIUSAC
State USF
Related Party
Miscellaneous
Amount at End of YearNotes Accounts
Receivable Receivable
58,378
195,420
313,135
Totals
Rev 3/02 Page 10
1,770,539
2,337,473
NOTES PAYABLE
For Notes Payable, list each note separately and include the maturity date and interest rate.
Name of Creditor
Totals
Date of Note
Interest
Rate
ACCOUNTS PAYABLE
Report below all Accounts Payable amounting to more than $100.00
Name of Creditor
AlP Trade
NECA
Related Party
Due Date
Totals
Rev 3/02 Page 11
Face Amount
Amount
59,125
497,051
1,989,498
2,545,674
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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. Include number of shares,
consideration received, premium or discount, and expenses incurred.
Class & Series of Stock
Common
Rev 3/02
Number
of Shares
Authorized
100,000.00
Par Value
perShare
Page 13
Outstanding per
Balance Sheet
Shares Amount
o 5155.5 6120
INCOME & RETAINED EARNINGS STATEMENT
Item Total Company Idaho Only
Total Operating Income (from page 16)
Total Operating Expenses (from page 18)
7100 Other Operating Income and Expense
7210 Operating Investment Tax Credits-Net
7220 Operating Federal Income Taxes
7230 Operating State and Local Income Taxes
7240 Operating Other Taxes
7250 Provision for Deferred Operating Income Taxes-Net
7200 Operating Taxes (Total)
7310 Dividend Income
7320 Interest Income
7330 Income from Sinking and Other Funds
7340 Allowance for Funds Used During Construction
7350 Gains/Losses from the Disposition of Certain Propert
7360 Other Nonoperating Income
7370 Special Charges
7300 Nonoperating Income and Expense
7410 Nonoperating Investment Tax Credits-Net
7420 Nonoperating Federal Income Taxes
7430 Nonoperating State and Local Income Taxes
7440 Nonoperating Other Taxes
7450 Provision for Deferred Nonoperating Income Taxes-Net
7400 Nonoperating Taxes
7510 Interest on Funded Debt
7520 Interest Expense-Capital Leases
7530 Amortization of Debt Issuance Expense
7540 Other Interest Deductions
7500 Interest and Related Items
7610 Extraordinary Income Credits
7620 Extraordinary Income Charges
7630 Current Income Tax Effect of Extraordinary Items-Net
7640 Provision for Deferred Income Tax Effect of
Extraordinary Items-Net
7600 Extraordinary Items
7910 Income Effect of Jurisdictional Ratemaking
Differences-Net
7990 Nonregulated Net Income (includes GAAP adj)
AMOUNT TRANSFERRED TO RETAINED EARNINGS
Rev 3/02
7,551,551
6,141,835
282,277
70,131
32,111
201,761
586,280
521,737
129,943
234,017
885,697
293
293
2,205,435
2,142,881
Page 14
Same as
Total Company
OPERATING REVENUES
Item Total Company Idaho Only
Local Network Services Revenues
5001 Basic Area Revenue
5002 Optional Extended Area Revenue
5003 Cellular Mobile Revenue
5004 Other Mobile Services Revenue
5010 Public Telephone Revenue
5040 Local Private Line Revenue
5050 Customer Premises Revenue
5060 Other Local Exchange Revenue
5069 Other Local Exchange Settlements
Network Access Services Revenues
5081 End User Revenue (SLC)
5082 Switched Access Revenue (Interstate)
5083 Special Access Revenue
5084 State Access Revenue (Intrastate)
Long Distance Network Services Revenues
5100 Long Distance Message Revenue - All
Miscellaneous Revenues
5230 Directory Revenue
5240 Rent Revenue
5250 Corporate Operations Revenue
5261 Special Billng Arrangements Revenue
5262 Customer Operations Revenue
5263 Plant Operations Revenue
5264 Other Incidental Regulated Revenue
5269 Other Revenue Settements
5270 Carrier Billng & Collection Revenue
Uncollectible Revenues
5301 Uncollectible Revenue - Telecommunications.
5302 Uncollectible Revenue - Other
TOTAL OPERATING REVENUES
Please identify the following revenues:
NECA USF $ 1,717,130
1,682,014 Same as Total Company
147,956
44,029
321,535
1,717,130
485,500
2,097,725
599,678
402,652
17,912
4,800
4,192
42,154
(15,726)
7,551,551
To what account were they booked?5069
State USF $ 123,894 To what account were they booked?5084
Rev 3/02 Page 15
Item
OPERATING REVENUES
Total Company Idaho 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 Artorks Expense
6123 Offce Equipment Expense
6124 General Purpose Computers Expense
6210 Central Offce Switching Expenses
6211 Analog Electronic Expense
6212 Digital Electronic Expense
6215 Electro-Mechanical Expense
6220 Operators System Expense
6230 Central Ofce Transmission Expenses
6231 Radio Systems Expense
6232 Circuit Equipment Expense
6310 Information OriginationlTermination Expense
6311 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 Intrabuilding Network Cable Expense
6431 Aerial Wire Expense
6441 Conduit Systems Expense
Same as Total Company
117,423
12,145
388,039
143,717
166,913
19,182
2,722
295
1,497,123
TOTAL PLANT SPECIFIC OPERATIONS EXPENSE 2,347,559
Rev 3/02 Page 16
Item
OPERATING REVENUES
Total Company Idaho Only
Plant Nonspecific Operations Expense
6510 Other Property/PlanUEquipment Expenses
6511 Propert 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 - Intangible
6565 Amortization Expense - Other
Total Plant Nonspecific Operations Expenses
Customer Operations Expense
6610 Marketing
6611 Product Management
6612 Sales
6613 Product Advertising
6620 Services
6621 Call Completion Services
6622 Number Services
6623 Customer Services
Total Customer Operations Expense
Corporate Operations Expense
6710 Executive and Planning
6711 Executive
6712 Planning
6720 General and Administrative
6721 Accounting and Finance
6722 External Relations
6723 Human Resources
6724 Information Management
6725 Legal
6726 Procurement
6727 Research and Development
6728 Other General and Administrative
6790 Provision for Uncollectible Notes Receivable
Total Corporate Operations Expense
TOTAL OPERATING EXPENSES
Rev 3/02
(31,976)
69,099
8,843
153,807
114,299
44,248
130,963
1,852,462
2,341,746
15,515
17,353
14,136
359
(2,172)
323,784
368,974
244,024
21,691
539,050
66,026
41,694
4,767
43,965
122,339
1,083,556
6,141,835
Page 17
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9
ANNUAL REPORT FOR SMALL TELEPHONE COMPANIES
YEAR ENDED DECEMBER 31, _2008_.
CUSTOMER RELATIONS RULES COMPLIANCE
Rule IDAPA 31.21.01.603
Rule IDAPA 31.41.01.105
Please provide copies of:
Summary of Customer Relations Rules for Telephone Corporations
Idaho Telephone Solicitation Act Notification
Method of Notification:
Mailed separately to customers Yes_ No~_
Included in directory Yes_X_ No_
Date of notification October, 2008_Hanson Directory
Alternate method of notification
Rule IDAPA 31.41.01.403.02
Record of Complaints:
Number received by Company 3
Category of complaints (if known):
Deposit Disputes
Charges on Bil
DeniallT ermination
Quality or Availability
of Service
2
Carrier Selectionl Assignment
Miscellaneous 1
Rev 3/02
Page 20
CERTIFICATE
State of Kansas )
) ss
)County of Ford
I -w, the undersigned Lisa R. Hood
and
of the_Fremont Telcom utilty,
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
k ii. bk
(Chief Offcer) \.
our knowledge, information and belief.
SRVP-Controller
(Offcer in Charge of Accounts)
Subscribed and Sworn to Before Me this ~ day of April , (Year) _2009_.~Q~
Notary Public
My Commission expires _November 16 , (Year) _2010_.
Rev 3/02
gdklexcel/jnelson/anulrptsltelannualrpt
Page 21