20020813Decision Memo.pdf

DECISION MEMORANDUM
TO:COMMISSIONER KJELLANDER
COMMISSIONER SMITH
COMMISSIONER HANSEN
JEAN JEWELL
RANDY LOBB
DON HOWELL
LYNN ANDERSON
JOE CUSICK
DOUG COOLEY
CAROLEE HALL
WAYNE HART
BEVERLY BARKER
RON LAW
GENE FADNESS
TONYA CLARK
WORKING FILE
FROM:BIRDELLE BROWN
DATE:AUGUST 13,2002
RE:IDAHO UNIVERSAL SERVICE FUND -2002 ANNUAL REPORT
On July 15,2002,Alyson Anderson,the Administrator of the Idaho Universal Service
Fund,filed her Annual Report to the Commission for the period of July 1,2001 through
June 30,2002.Staff has reviewed the calculations and recommendations in this report and finds
them to be accurate and comprehensive.Once again,Staff commends Ms.Anderson for her
continued outstanding performance as Administrator of this fund.
Ms.Anderson reports surcharge revenue for the year in the amount of $2,498,097 of
which $1,231,353(49%)was contributed by local exchange services and $1,266,744 (51%)was
contributed by MTS/WATS services.(This is a decrease in local revenue of nearly $170,000
and an increase in toll revenue of about $90,000.)Disbursements to the eight qualifying
independentlocal exchange carriers (ILECs)totaled $1,898.303,which is a decrease of nearly
$300,000resulting from the completion of a short-term payment to Fremont Telcom.The
ending fund cash balance at June 30,2002 after applying bank charges,administrative expenses,
and interest received was $646,286.
DECISION MEMORANDUM 1 AUGUST 13,2002
Local Service
As of May 1,2001 companies reported 532,279 residential lines and 190,428 business
lines,for a total of 722,707 lines.This represents an approximate 2.7%decrease in total lines
from the prior year.The newly calculated statewide average rates and threshold rates are:
2001 Current 2002 Statewide 125%Statewide 125%Statewide
Weighted Weighted Weighted Average Weighted Average
Average Rate Average Rate Rate -2001 Rate -2002
Residential 17.46 $17.61 21.83 $22.01
Business Services 32.82 $32.42 41.03 $40.53
Switched Access Service
Toll access minutes reported by the local exchange companies were 609,012,001,which
represents a small increase from 574 million minutes in 2001.The new Statewide Average rate
has decreased to $0.051828 per minute.
Toll Minutes
The number of toll minutes reported to the USF decreased by 2.34%from 304 million
minutes in the 2001 report to about 297 million minutes in the 2002 report.Toll revenue
reported showed a decline of about 60%due to report anomalies.
Disbursements
Total disbursements for the year were $1,898,303,and are not expected to change for the
coming year unless modifications to access rates are required of some companies.
Funding
The Universal Service Fund is currentlyfunded through assessments of $0.10 per
residential line per month,$0.15 per business line per month,and $0.0035 per toll minute.
DECISION MEMORANDUM 2 AUGUST 13,2002
ADMINISTRATOR'S OPTIONS
The Administrator has presented three funding options for the coming year.These
options are as follows:
Option 1:Status Quo -Ms.Anderson stated that if current surcharge levels are
maintained and no additional fundingis needed,the fund will increase to a balance of
$1,220,634,a greater reserve balance than she recommends.
Option 2:Adjust Funding to meet Statewide Averages and Maintain Surcharge Rates -In
this discussion,Ms.Anderson compares the companies'current local and switched access rates
to the statewide threshold rates and applies the eligibilityrule (Idaho Universal Service Fund
Rule 106.02)to determinewhat revisions are required by current participants to the fund to
continue to qualify.She notes that ATC's,Fremont's,and Inland's switched access rates are
above the threshold rate and they should reduce their rates (thus increasing their draw from the
Universal Service Fund).If these adjustments are made and the current assessment is
maintained,Ms.Anderson projects an ending balance of $1,182,174,which is still a greater
reserve balance than she recommends.
Option 3:Adjust Funding to meet Statewide Averages and Maintain Surcharge Rates -In
this option,Ms.Anderson proposes a decrease in current surcharge rates to $0.08 per residential
line,$0.13 per business line and $0.0025 per toll minute and increasing disbursements resulting
from adjusted access rates as discussed in Option 2.This plan would produce a projected
balance of $711,652.
ADMINISTRATOR'S RECOMMENDATION
Ms.Anderson recommends Option 3,which would reduce the surcharge rates to $0025
per MTS/WATS billed minute and to $.08 per residential and $.13 per business line.She
recommends adjustments to Fremont,ATC and Inland,which will increase disbursements by
$38,460 to offset decreases in access rates and keeping surcharges at their current levels.The
fund would increase to approximately $711,652.
DECISION MEMORANDUM 3 AUGUST 13,2002
STAFF COMMENTS AND RECOMMENDATION
Staff finds Ms.Anderson's report to be complete and comprehensive.Staff would add
that it has requested explanations from four companies regarding reported access rates that
increase even though there was no authorized rate increase.Two companies have revised their
reports and no longer show excess rates from access.ATC and Inland have promised to send the
information as soon as they can compile it.Staff did not contact Fremont.Staff also notes that
Rural's access rate declined by an amount greater than the allowed 3%to $.048781 as a result of
lost billingand collection revenues from its recent EAS implementation.Rural received
Universal Service Funds to compensate for this lost revenue.
Staff recommends that the Commission adopt the Administrator's Option No.3 to reduce
access rates,but to defer any adjustments to access rates for any company.Over time,these rates
seem to be stabilizing and most significant variations seem to be a result of reporting anomalies.
COMMISSION DECISION
Does the Commission approve the Administrator's recommended Option No.3 to reduce
surcharge rates to $0.08 for residential lines,$0.13 for business lines and $0.0025 per toll
minute?
Does the Commission wish to defer revisions of Access Rates?
rdelle Brown
Attachment
Iusf/yearly/2001-2002/reports/annreptdmm
DECISION MEMORANDUM 4 AUGUST 13,2002
IDAHO UNIVERSAL SERVICE FUND OPTIONS 7/15/2002
OPTION 1 -STATUS QUO
FUND
RATE CHANGE
BANK BALANCE 7/1/02 $646,288
ANNUAL INVENTORY
RESIDENTIAL LINES 532,279 0.10 $638,735 32%OF TOTAL SURCHARGE REVENUE
BUSINESS LINES 190,428 0.15 342,770 17%OF TOTAL SURCHARGEREVENUE
TOLL MINUTES 297,072,069 0.0035 1,039,752 51%OF TOTAL SURCHARGEREVENUE
TOTAL lUSF FUNDING FOR YEAR 2.021.257
US TREASURIES REDEEMED 449,493
ESTIMATED INTEREST INCOME 19,000
ESTIMATED lUSF DISBURSEMENTS (1,898,303)REFLECTSANNUALIZEDINCREASE IN
ESTIMATED ADMINISTRATIVE EXPENSES (17,100)FUNDING FOR RURAL TELEPHONE
TOTAL ESTIMATED EXPENSES (1,446,909)
PROJECTED INCOME/(DRAWDOWN)574,348
PROJECTED BALANCE 6/30/03 $1,220,634 MORE THAN ADEQUATE RESERVE
OPTION 2 -ADJUST FUNDING FOR ACCESS CHARGES &
MAINTAIN SURCHARGE RATES
PUND
RATE CHANGE
BANK BALANCE 7/1/02 $646,286
ANNUAL INVENTORY
RESIDENTIAL LINES 532,279 0.10 Ñ38,735 32%OF TOTAL SURCHARGEREVENUE
BUSINESS LINES 190,428 0.15 342,770 17%OF TOTAL SURCHARGE REVENUE
TOLL MINUTES 297,072,069 0.0035 1,039,752 51%OF TOTAL SURCHARGE REVENUE
TOTAL lUSF FUNDING FOR YEAR 2,021,267
US TREASURIES REDEEMED 449,493
ESTIMATED INTEREST INCOME 19,000
ESTIMATED IUSF DISBURSEMENTS (1,955,246)INCLUDESADJUSTMENTS TO FUNDING FOR
ESTIMATED ADMINISTRATIVE EXPENSES (17,100)ATC,FREMONT,INLAND,&ROCKLAND
TOTAL ESTIMATED EXPENSES (1,503,852)
PROJECTED INCOME/(DRAWDOWN)517,405
PROJECTED BALANCE 6/30/02 $1,163,691 MORE THAN ADEQUATE RESERVE BALANCE
Page 42
IDAHO UNIVERSAL SERVICE FUND OPTIONS 7/15/2002
OPTION 3 -ADJUST FUNDING LEVELS &REDUCE SURCHARGE RATES
FUND
RATE CHANGE
BANK BALANCE 7/1/01 $646,286
ANNUAL INVENTORY
RESIDENTIAL LINES 532,279 0.08 $510,988 33%OF TOTAL SURCHARGE REVENUE
BUSINESS LINES 190,428 0.13 297,068 19%OF TOTAL SURCHARGEREVENUE
TOLL MINUTES 297,072,069 0.0025 742,680 48%OF TOTAL SURCHARGE REVENUE
TOTAL lUSF FUNDING FOR YEAR 1,550,736
US TREASURIES REDEEMED 449,493
ESTIMATED INTEREST INCOME 19,000
ESTIMATED IUSF DISBURSEMENTS (1,955,230)INCLUDESADJUSTMENTS TO FUNDING FOR
ESTIMATED ADMINISTRATIVE EXPENSES (17,100)ATC,FREMONT,INLAND,&ROCKLAND
TOTAL ESTIMATED EXPENSES (1,503,836)
PROJECTED INCOME/(DRAWDOWN)46,900
BALANCE 6/30/02 $693,185 ADEQUATE RESERVE BALANCE
Page 43
ADMINISTRATOR'S REPORT
IDAHO UNIVERSAL SERVICE FUND
YEAR ENDED -JUNE 30,2002
SURCHARGE REVENUES
Surcharge revenues collected during the year totaled $2,498,097 of which
$1,231,353,or 49%,was assessed on local exchangeservicesand
$1,266,744,or 51%,was assessed on MTS/WATS services.
DISBURSEMENTS
COMPANIES RECEIVING DISBURSEMENTS
Authorized disbursementsto Local ExchangeCompaniesduring the year
endedJune 30,2002 totaled $1,915,371 (page 10).The following table
showsthe Local Exchange companiesauthorized by the Idaho Public
Utilities Commission to receive disbursementsfrom the Idaho Universal
Service Fund.
Original IPUC Order Current
Authorizing Authorized Annual
CompanyName Disbursement Disbursement
ACT Communications 22718 &22128 $514,238
Cambridge Telephone 2213 1 $167,381
Fremont Telecom 28085 &28166 $110,081
Inland Telephone Co 23838 $43,161
Midvale Telephone 22377 $362,366
Exc.
Direct Comm Rockland 22132 $221,847
Rural TelephoneCo 22414 &26598 $316,128
Silver Star Telecom 22237 &22370 $163,101
Total $1,898,303
1
ADMINISTRATIVE FEES AND EXPENSES
Administrative fees and expenses for the year ended June 30,2002 were
$12,997.Administrative expenses include bank charges of $461.
Administrative expenses payable at June 30,2002 is $903.
INVESTMENTS AND FUNDS
CASH
At June 30,2002,the Idaho Universal Service Fund had a cash balance of
$646,286.The following is a table showing the beginning,ending,and
quarterly fund cash balancesfor the year ended June 30,2002.
Beginning Ending
Balance Balance Balance Balance Balance
6/30/01 9/30/01 12/31/01 3/31/02 6/30/02
$511,305 $601,648 $883,236 $675,045 $646,286
INTEREST
Interest earned on funds for the year ended June 30,2002 was $15,802.All
surcharge revenue is held in a Merrill Lynch CMA-Government Securities
Fund account,with a current yield of 1.48%.
INVESTMENTS
The Idaho Universal ServiceFund currently has investmentsin US Treasury
Bills.The T-Bill was purchasedMarch 1,2002 and is valued at $451,831
(face value $453,000)with a 1.61%yield.The T-Bill will mature August
29,2002.
2
INVENTORIES
Total residential and business lines at May 1,2002 were 532,279and
190,428respectively (pages 36 and 37).This representsa 3%decrease in
residential lines and a 2%decrease in businesslines from the prior year.
Total MTS/WATS billed minutes of use for the year ended December 31,
2001 were 297,072,069 (page 41),a 2.36%decrease from the prior year.
STATEWIDE WEIGHTED AVERAGE RATES
A schedule summarizing the total funding eligibilityfor the local exchange
companiesis shown on page l 1.
ONE-PARTY,SINGLE LINE SERVICE
The statewide weighted average rates for one-party single-line residential
and business services are shown on pages 24 and 35.The following table
shows the statewide weighted averages for one-party,single line service.
IUSF THRESHOLD
STATEWIDE 125%STATEWIDE
WEIGHTED WEIGHTED
AVERAGE RATE AVERAGE RATE
RESIDENTIAL $17.61 $22.01
SERVICES
BUSINESS SERVICES $32.42 $40.53
TOLL SWITCHED ACCESS
The statewide weighted average revenue per MTS/WATS access minute is
shown on page 13.The statewide weighted average revenue is $.052 per
minute.
3
FUNDING OPTIONS
GENERAL INFORMATION
OPTION 1:STATUS QUO
During the past year,the Commission ordered a $4,833 per month increase
in the IUSF draw by Rural TelephoneCompany.If current surcharge levels
are maintained and no additional IUSF funding is authorized,the fund will
increase by approximately $574,348 (page 42).The fund would have a
balance of approximately $1,220,634at June 30,2003.Additionally,with
current surcharge rates,MTS/WATS serviceswould contribute
approximately 49%of the surcharge revenue and local exchangeservices
would contribute 51%of the surcharge revenue.
OPTION 2:ADJUST FUNDING TO MEET STATEWIDE AVERAGES &
MAINTAIN SURCHARGE RATES
Idaho Universal Service Fund rule 106.02 indicates that to continue
receiving IUSF funding after the first year of eligibility,the company may
need to revise rates to meet the statewidethreshold rates.If the rate is
below the statewide threshold rate,and difference between the rates are
greater than 3%and $6,000,the company must revise it's rates to equal or
exceed 100%of the statewide average for MTS/WATS access service and
125%of the statewide average for local exchangeservice.The following
applies rule 106 to each company currently drawing from the IUSF.All of
the companiesdrawing IUSF funds have had rate proceedingsduring the
past few years,and the Commission has reviewed and approvedthe rates for
local access service.Therefore,at this time it is unnecessary to adjust the
local rates to meet the statewide averages.
+ATC Communications showsa need to reduce access rates,thereby
increasing the draw from the IUSF by $17,753.
+Cambridge TelephoneCompany does not need to adjust access rates or
the IUSF draw at this time.
+Fremont Telecom shows a need to reduce access rates,thereby
increasing the draw from the IUSF by $14,221.
+Inland TelephoneCompany shows a need to reduce access rates,thereby
increasing the draw from the IUSF by $6,488.
4
+Midvale TelephoneCompany does not need to adjust access rates or the
IUSF draw at this time.
*Direct Communications Rockland does not need to adjust access rates or
the IUSF draw at this time.
*Rural Telephone Company does not need to adjust access rates or the
IUSF draw at this time.
*Silver Star Telecom does not need to adjust access rates or the IUSF
draw at this time.
The 2001-2002 IUSF disbursements,including the adjustmentsto funding
for ATC Communications,Fremont Telecom,Inland Telephone Company,
and Direct Communications Rockland,will be $1,936,763.
The current surcharge rates were maintained,and therefore the contribution
from local exchangeservicesand MTS/WATS services would continue at
49%and 51%respectively.The fund will increase by approximately
$535,888,and have a balance of approximately $1,182,174 at June 30,2003
(page 42).
OPTION 3:ADJUST FUNDING TO MEET STATEWIDE AVERAGES &
REDUCE SURCHARGE RATES
Reducing the MTS/WATS surcharge rate to $.0025 per minute,the local
exchangeresidential surcharge rate to $.08 per line and per the local
exchangebusinesssurcharge rate to $.13,will maintain approximately
$646,286.At these rates,MTS/WATS services would contribute 48%of
the total surcharge revenue and local exchangeservices would contribute
52%of the total surchargerevenue.Additionally,disbursementsare
increased by $68,460 to reflect the reduction in access rates by companies
currently drawing from the Idaho Universal Service Fund.The fund
balance at June 30,2003 would be approximately $711,652.Thus,
maintaining an adequatereserve balance (page 43).
ADMINISTRATOR'S RECOMMENDATION
I recommend that the Commission adopt Option 3,reducing the surcharge
rates to $.0025per MTS/WATS billed minute,to $.08 per residential line,
and $.13 per business line.Additionally,the access rates and funding for
ATC Communications,Fremont Telecom,and Inland TelephoneCompany
5
should be adjusted.This option will continue to provide a reasonable
reserve,as well as mitigate the need to increase surcharge rates if additional
funding is authorized during the year.The fund will continue investing
unused balances in US Treasuries.This option approximatesa 50-50
contribution of surcharge revenues from local exchangeservices and
MTS/WATS services.The fund balanceat June 30,2002 would be
approximately $711,652.
6
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IbaHO UNIVERSAL SERVICE FuND
STATEMENT OF FUND BALANCE
JUNE 30,2002
REVENUES
SURCHARGE REVENUE $2,498,097
INTEREST REVENUE 18,140
TOTAL REVENUE $2,516,237
EXPENSES
DISBURSEMENTS TO COMPANIEs $1,915,371
DISBURSEMENTS To others 1,057
AMORTIZATION EXPENSE (2,338)
BANK/BROKERAGE CHARGES 461
ADMINISTRATIVE EXPENSE 12,434
TOTAL EXPENSES 1,926,986
CHANGE IN FUND BALANCE $589,251
FUND BALANCE JULY 1,2001 $510,300
FUND BALANCE JUNE 30,2002 1,099,550
Page 8
IDAHO UNIVERSAL SERVICE FuND
BANK ACCOUNT ACTIVITY
FOR YEAR ENDED JUNE 30,2002
BEGINNING BALANCE JULY 1,2001 $511,305
RECElPTS
LOCAL SURCHARGE $1,231,353
TOLL SURCHARGE 1,266,744
TOTAL SURCHARGE COLLECTED $2,498,097
INTEREST 15,802
TOTAL RECEIPTS
$2,513,899
DISBURSEMENTS
BANK/BROKERAGE CHARGES 461
PURCHASE US TREASURY BILL 449,493
COMPANY DISBURSEMENTs $1,915,371
REIMBURSEMENT FOR ITSAP PAYMENTs $1,057
ADMINISTRATIVE EXPENSEs 12,536
TOTAL DISBURSEMENTS
$2,378,918
ENDING BALANCE JUNE 30,2002 $646,286
Page 9
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