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HomeMy WebLinkAbout202005152019Annual Report-Redacted.pdfANNUAL REPORT OF FREMONT TELCOM CO. NAM E !221 N. RUSSELL ST. MISSOULA, MT 59808 ADDRESS TO THE IDAHO PUBLIC UTILITIES COMMISSION FOR TH E YEAR ENDED: 2OL9 C:\Users\huberb\AppData\Roaming\Microsoft\Excel\Fremont ANNUAL REPORT FORM FOR SM TELS 2019 (version 1) 5115t2020 Cover FRE-T RECEIVED 2020May15PM4:54 IDAHO PUBLIC UTILITIES COMMISSION ANNUAL REPORT OF SMALL TELEPHONE COMPANIES TO THE IDAHO PUBLIC UTILITIES COMMISSION FOR THE YEAR ENDING December 31,2019 COMPANY INFORMATION Fremont Telcom Co. 1221N Russell St, Missoula, MT 59808 Exact name of utility: Address of principal office Telephone Number Cities or towns served: 406-s41-5000 SaintAnthony, Ashton, Teton, and lsland Park, lD Name and title of officer having custody of the general corporate books of account:Marilee Klaudt, Exec. Admin./Paralegal Address of office where corporate books are kept and phone number:406-541-5111 1221 N Russell St.. Missoula MT 59808 Organized under the laws of the State of:ldaho Date of organization March 9, 1994 Form of organization (proprietorship, association, corporation) lf a Subchapter S Corporation, please specify: Name and address of controlling company, if any: Corporation Names of affiliated companies. Give address and description of business:Blackfoot Telephone Cooperative, lnc. BTC Holdings, Blackfoot Communications, lnc., TeleSphere Software, lnc., collectively doing business as Blackfoot. OFFICERS Report below the title, name and office address of each general officer of the utility at the end of the year. lf there were any changes during the year, show the name, title, and address of the previous officer and the date of change. Title Name Address Chief Executive Officer Jason Wlliams 1221 N. Russell St.Missoula MT 59808 Assistant Treasurer, Chief Financial Officer Stacey Mueller 1221 N. RussellSt., Missoula, MT 59808 Assistant Secretary Stacey Mueller 1221N. RussellSt., Missoula, MT 59808 Vice President - HR & Community Relations Laura Marshall 1221N. Russell St., Missoula, MT 59808 Vice President - Stretegic Planning Joe Fanguy 1221 N. RussellSt., Missoula, MT 59808 Chief Technoloqy Officer Dave Martin 1221 N. Russell St., Missoula, MT 59808 Vice President - Sales & Marketinq J.P. Violette 1221 N. Russell St.Missoula, MT 59808 Rev 3/02 Page 1 C:\Users\huberb\AppData\Roaming\Microsoft\Excel\Fremont ANNUAL REPORT FORM FOR SM TELS 2019 (version 1) 5t15t2020 Comp lnfo 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.) Term Expired or Current Term Will Expire Meetings Attended This year Fees Paid During Year Name Address Tom Eggensperger, President PO Box 219, Thompson Falls, MT 59873 5t22 12 19,300 00 Geoffrey Wlson, Vice President 2704 Southside Road, Superior, MT 59872 5121 12 16,1 50.00 Cindy Lewis, Secretary/Treasurer PO Box 529, Sqeley Lake, MT 59868 5t21 12 '19,750.00 Jim Blush PO Box 158, St. lgnatius, MT 59865 5121 12 16,600.00 Ross Friede PO Box '184, Hall, MT 59837 5t21 12 '12,950.00 Les lverson 31580 Potomac Rd.. Potomac. MT 59823 5122 12 '18,400.00 Stuart Morton PO Box 396,St. lonatius. tUT 59865 5t22 12 17,950.00 Jim Newberq '1971 South Couture Loop, Arlee, MT 59821 5121 12 17,050.00 John Teague 8945 Teague Ranch Rd., Clinton, MT 59825 5t21 12 20.650.00 Name of Chairman of the Board: Name of Secretary (or Clerk) of Board: Number of Meetings of the Board during the year: President - Tom Eggensperger Secretary - Cindy Lewis 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 12 Wgggs anO eonr""" P" N/A Rev 3/02 Page 2 C:\Users\huberb\AppData\Roaming\Microsoft\Excel\Fremont ANNUAL REPORT FORM FOR SM TELS 201 9 (version 1) 5t15t2020 Directors NOTES TO THE F!NANCIAL 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. None Rev 3/02 Page 3 C:\Users\huberb\AppData\Roaming\Microsoft\Excel\Fremont ANNUAL REPORT FORM FOR SM TELS 2019 (version 1) St1St2020 Notes to Fin BALANCE SHEET Assets and Other Debits Balance Beginning of Year Balance at End of Year 2019 lncrease or (Decrease)Title of Account Current Assets1120 Cash and Equivalents 1 130 Cash1140 SpecialCashDeposits 1 150 Working Cash Advances1160 Temporary lnvestments 1 180 Telecommunications Accts. Receivable 1 181 Accts. Rec. Allow. -Telecommunications 1 190 Other Accounts Receivable 1 191 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 Nonregulatedlnvestments1407 Unamortized Debt lssuance Expense1408 Sinking Funds1410 Other Noncurrent Assets1438 Deferred Maintenance & Retirements1439 Deferred Charges1500 Other Jurisdiction Assets - Net Propefi, Plant 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 Planl2007 Goodwill Depreciation and Amortization Accounts 3100 AccumulatedDepreciated3200 Accum. Depre. - Held for Future Use3300 Accumulated Depreciation - Nonoperating3400 Accumulated Amortization - Tangible3410 Accum. Amort. - Capitalized Leases3420 Accum. Amort. - Leasehold lmprovements3500 Accumulated Amortization - lntangible3600 Accumulated Amortization - Other 2,468,238 2,967,971 499,733 104,218 16,s89 (87,62e) 1EE,734 202,335 13 601 236,726 300,046 63,320 12,547 17,807 5 260 40,200 42 7EE 2 566 1,973,800 (1,973,800) 107 674 107 674 39,562,376 42,128,760 2,s66,384 91,403 185,E28 94 425 3E4,975 364 975 (29,846,182) (30,20s,677)(359,495) (1,74s,32E)(2,065,794)(320,466) TOTAL ASSETS 13,471 ,707 14,083,302 611,595 Rev 3/02 Page 4 C:\Users\huberb\AppData\Roaming\Microsoft\Excel\Fremont ANNUAL REPORT FORM FOR SM TELS 2019 (version 1) 5t15t2020 Bal Sheet 401 0 4020 4030 4040 4050 4060 4070 4080 41 00 4110 4120 4'130 4210 4220 4230 4240 4250 4260 4270 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 CompaniesOthe erm Debt Other Liabilities & Deferred Credits 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 Capital Stock Additional Paid-ln Capital Treasury Stock Other Capital Retained Earnings BALANCE SHEET Liabilities & Stockholders' Equity Balance Beginning of Year 402,518 32,873 295 923 11 981 130 749 1 397 5,016,399 5,822,588 Balance at End of Year 2019 171 44,435 31 094 263,466 1,562 573,166 5,016,399 5,822,588 lncrease or (Decrease) (231,093) 11 562 31 094 (32,457) 431 0 4320 4330 4340 4350 4360 4370 fi0,419) 442 417 (1,3s7) 4510 4520 4530 4540 4550 1,757,279 2,159,167 401 888 TOTAL LIAB. & OTHER CREDITS 13,471,707 14,083,302 611,595 Rev 3/02 Page 5 C:\Users\huberb\AppData\Roaming\Microsoft\Excel\FremontANNUAL REPORT FORM FOR SM TELS 2019 (version 1) 5t15t2020 Liab oa ;cs(L O)$(r) o,oo- f.-(r) @ cr) c.i |r)NF-- @ro (f)_ N @F-q @(,q F- @ c2N o,oq tJ.)N @(o(o .g g-36trE ocLE g= =f P ^ -E! o €u, a- g E'.Pe P5.= ; ,"8E €E= E EEE s,rEE I E8E 5Ee Eg;;EgE,ef,sEet .!*fii e*c* .9 >=aE o.!l=)- a qu oE O XYIJE .9 f dv E' E E EB= gs eE eEgge$;; e BF * * E gg 5 E i E EE E .9, f = = i * i: H x H * * N il il N N R k ft il n n x i l R * $ s i F H E O)co(t)_r)(f,lr) sf o_ @ lor.- t-Nr) oF.u? 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EooJ Foo E*F (gO EE CLoo -oF ouJGo-uJooulF JrO =P=l c,OEo=<5 =EU'4uJ d.Fzut l!oo6 J 2 soq 6 soooN scr,c!t sF.q F.q N sO)q\t ot- c.ioN so,q\t s ; N soqoN @F.(o- F.\t so).!t soc? @ s(o oqN so)c!s s(f) c? @ q1*l (') @@_ F-O)N coNrt_t(.) l*l**l =l*l-l ro(o(o Noq o,O)6 oO)a()rON o 9-(J.= .EtrEOG-> ff.RE dt o) o)o)(U(L s=so eg =oEa gk cEg.Eq di I9)- gEs .oo o) o, oNo)tuF =otoLL tolrF E.oLtutr -J lzz co EoLlJ- 6oxtu+oao .(,) =o).c EGotooooo-s-oo! 5od,NhoUS =) toob o,oo)oo- Joooo .Cooo o o G o o'6o o-oE E =.pJ =oOHo=o;+p o .stHEEECLq,o coo. EoO E oF U'(E o EGa o 9-E=E! c> s'Fbo i oo o G octooI o zo o UJto. UJoo UJ rO ==l(",o:cr=<5 =Egr4 UJ d. z UJ IIo 9,o z o .gE()c)oEe ura-r $a E seE s**; ;tEE . ; i r. ;x;-,EEgg gggEEE# EE rEet g-E* Es E BH'eEE# HEgE Hfi EEE pEeEEt SEtEEEo > < tn o o m L o o < o r.u o rr o tn o -i i 6 I * 5 A d E t 6 E .9,o ia- $ ',(oF N c, $ - N ro o -N - r- FN - F N ., v (o r r -!I r - F F F N N N N r - - N (O<O- N $ tf)@ - N N N N N (f) $Nr=rr -NNNNNN(OcO(Oc.)(Y)$$$$$$$$N<NNNNNNNNNNNNNNNNNNNNNNNNNNNNN INVESTMENTS Report below the investments in Accounts 1401, 1402 and 1406. ldentify each investment as to the account in which included. Minor amounts in Account 1406 may be grouped by classes. Book Cost of lnvestments Disposed of This vear Book Cost of !nvestments Held at End of Januarv 42,788 Description Capital Credits Date Acquired Various Totals 42,788 RECEIVABLES Itemize amounts show in Accounts 1 180, 1 190 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 Companv Customers Amount at End of vearNotes AccountsReceivable Receivable 16 589 CABS 23 897 USAC 173 736 Misc 4 702 Totals 218,923 Rev 3/02 Page 10 C:\Users\huberb\AppData\Roaming\Microsoft\Excel\Fremont ANNUAL REPORT FORM FOR SM TELS 2019 (version 1) St1StzO2O lnvest - Receivable NOTES PAYABLE For Notes Payable, list each note separately and include the maturity date and interest rate. Name of Creditor ldahome Farms Date of Note 1t26t2017 Interest Rate 3.500/o Due Date 12t31t2026 Face Amount $ 297,489 Totals ACCOUNTS PAYABLE Report below all Accounts Payable amounting to more than $100.00 Name of Creditor A/P Trade Amount 140,749 ldaho Sales Tax 204 ldaho 9'll (County)7,982 FederalUSF 2,483 ldaho USF 2,025 A/P Affiliates 17,984 Totals 171,425 Rev 3/02 Page 1 1 C:\Users\huberb\AppData\Roaming\Microsoft\Excel\Fremont ANNUAL REPORT FORM FOR SM TELS 20'19 (version 1) 5t15t2020 AP -ooo EoF o)coJ c.o 3T'Lo o,oNoJ lJ.,F =otol! =tolJ-Fto(L uJt J fzz co E ElL=ooxul ltrooo .9 =g) .= Eootooooo.I€o-o =5oc9!ENf1r)oh c\t oo,(UL No(o ot. EI,l ilEl E<rrlol:ldllol ol EI-r ol 6ltl H'H EI .=l EI EI o EEI gil iCfoo(,(U !o(!oLo tr,oo o)L'= oEoE'Co ottEfc cloooooi -oEEoo- org.coo-=foOF?89ae.> =o,U;HgoSIao5d .= (6E'>€t:ro<)o.== -L!c)9? GOO)g=o6->-cEo'c6(l)a)ob9s=g6(EE oPE.0fitr R.gLOoog>;-ca(U c, (rtttttra!o Ntd(oN!t dlONt ctrtNrt d Ntoc o(, a) o UJo.trlllF aozo -EEIfiE€I d fi=El g- 9lI og .E .' B€Io! -gl Efl 3oot z 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. Class & Series of Stock Common Number of Shares Authorized 100,000 Par Value per Share Outstanding per Balance Sheet 0 Shares 5,016 Amount 5,016,399 Rev 3/02 Page 13 C:\Users\huberb\AppData\Roaming\Microsoft\Excel\Fremont ANNUAL REPORT FORM FOR SM TELS 2019 (version 1)511512020 CapitalStock Item INCOME & RETAINED EARNINGS STATEMENT TotalCompany ldaho Only Total Operating lncome (from page 15) TotalOperating Expenses (from page 17) 7100 Other Operating lncome and Expense 7210 Operating lnvestment Tax Credits-Net 7220 Operating Federal lncome Taxes 7230 Operating State and Local lncome Taxes 7240 Operating Other Taxes 7250 Provision for Deferred Operating lncome Taxes-Net 7200 Operating Taxes (Total) 7310 Dividend lncome 7320 lnterest lncome 7330 lncome from Sinking and Other Funds 7340 Allowance for Funds Used During Construction 7350 Gains/Losses from the Disposition of Certain Property 7360 Other Nonoperating lncome 7370 SpecialCharges7300 Nonoperating lncome and Expense 4,112,995 317 595 27 586 8,218 71,080 414,303 521 187 (1 s) 92,052ru Same as TotalCompany 7410 Nonoperating lnvestment Tax Credits-Net 7420 Nonoperating Federal lncome Taxes 7430 Nonoperating State and Local lncome Taxes 7440 Nonoperating Other Taxes 7450 Provision for Deferred Nonoperating lncome Taxes-Net 7400 Nonoperating Taxes 7510 lnterest on Funded Debt 7520 lnterest Expense-Capital Leases 7530 Amortization of Debt lssuance Expense 7540 Other lnterest Deductions 7500 lnterest and Related ltems 10,412 'l-0,412 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 (includes GAAP adj)(1,137,933) AMOUNT TRANSFERRED TO RETA!NED EARNINGS 309 697 Rev 3/02 Page 14 C:\Users\huberb\AppData\Roaming\Microsoft\Excel\Fremont ANNUAL REPORT FORM FOR SM TELS 2019 (version 1)5l15l2O2O lncome & Retained odo,c 6 o)oo c.o o ooNa)LUF =U) dot! =tol!Ftro(L LrJd) fzz co Eo l"L o)ox UJ oa .o =o).sEono6ooo5!ools oal (-) ooon 06 NSo6oonn (!o. 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Rev 3/02 gdUexcel/inelson/anulrpts^elan nu alrpt Page21 t:\Regutatory Reporting\tDAHo\lD pUC ANNUAL REPORT\D PUC 2019\Fremont ANNUAL REPORT FORM FOR SM TELS 201g-FINAL5rl82}2o Certificate MONTANA NOTARIAL CERTIFICATE vERrFrcATroN oN oATH OR AFFTRMATTON (JURAT) State of Montana County of The attached record,aw{iirc'hon , consish ng of on.&)pages was signed and (Description of record) sworn to or affirmed before me on Sltglaoao by tL*,A[[Ltf (Date)(Name of signer(s)) MOHANE LEE OWENS TOTARY PUBUC for the Stateof Montana (Notary's Signature)at Hamilton, MT 09, Epires zu1. [Affix stamp above] This certificate is to be attached to the record described above. Any evidence that it has been detached or removed may render the notarization invalid or unacceptable.