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HomeMy WebLinkAbout2023Annual Report.pdf am �,a !tv unications p 208-673-5335 / f 208-673-6200 / e atc@atcnet.net / a 225 W. North St.Albion, ID 83311 10: 22 April 11, 2024 Idaho Public Utilities Commission Attn: Diane Hanian PO Box 83720 Boise, ID 83720-0074 Dear Ms. Hanian: Enclosed please find the Annual Report of Small Telephone Companies for Albion Telephone Company, Inc. If you have any questions or concerns, please feel free to call me at 673-5335. Sincerely, Jie Laumb Controller ANNUAL REPORT OF NAME ADDRESS TO THE IDAHO PUBLIC UTILITIES COMMISSION FOR THE YEAR ENDED 2023 4 ANNUAL REPORT OF SMALL TELEPHONE COMPANIES TO THE IDAHO PUBLIC UTILITIES COMMISSION FOR THE YEAR ENDING DECEMBER 31, 2022 COMPANY INFORMATION Exact name of utility: Albion Telephone Company, Inc. Address of principal office: 225 West North Street. P.O. Box 98 Albion, ID 83311 Telephone Number (Area Code_208 673-5335 Cities or towns served: Albion, Almo, Elba, Holbrook, Malta, Raft River, Malad, Mackay, Moore, Arco, Howe; Idaho: Yost; Utah Name and title of officer having custody of the general corporate books of account: Richard Redman, President Address of office where corporate books are kept and phone number: 225 West North Street. P.O. Box 98 Albion, ID 83311 Organized under the laws of the State of: Idaho Date of organization: 1929- Incorporated September 11, 1953 Form of organization (proprietorship, association, corporation): Corporation If a Subchapter S Corporation, please specify: We are a Subchapter S Corporation Name and address of controlling company, if any: Names of affiliated companies. Give address and description of business: OFFICERS Report below the title, name and office address of each general officer of the utility at the end of the year. If 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 Changes Made to Officers Effective 12/30/2019 President Richard L. Redman P.O. Box 14 Albion, ID 83311 Vice-President Darla Redman P.O. Box 22 Albion, ID 83311 Secretary Jennifer Bradshaw 946 G Canal Rd Declo, ID 83323 Treasurer Barry Redman 266 S. 950 E. Declo, ID 83323 Rev 3/02 Page 1 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 Meetings Attended Fees Paid Name Will Expire This year During Year and Address Richard L. Redman NA 2 3600 Darla Redman NA 2 3600 Barry Redman NA 2 3600 Jennifer Bradshaw NA 2 3600 Nicole Allphin NA 2 3600 Kyle Redman NA 2 3600 Name of Chairman of the Board: Richard Redman Name of Secretary(or Clerk) of Board: Jennifer Bradshaw Number of Meetings of the Board during the year: 2 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 L. Redman President/CEO Confidential Kyle Redman Sales and Marketing Manager Confidential Rev 3IO2 Page 2 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. Rev 3/02 Page 3 BALANCE SHEET Assets and Other Debits Balance Balance Increase Beginning at End or Title of Account of Year of Year (Decrease) Current Assets 1120 Cash and Equivalents 5066777 5938764 871987 1130 Cash 1140 Special Cash Deposits 1150 Working Cash Advances 1160 Temporary Investments 1180 Telecommunications Accts. Receivable 268002 542059 274057 1181 Accts. Rec. Allow. -Telecommunications -13410 -27113 -13703 1190 Other Accounts Receivable 1800947 1515757 -285190 1191 Accounts Receivable Allow. - Other 1200 Notes Receivable 0 0 1201 Notes Receivable Allowance 1210 Interest&Dividends Receivable 1220 Material and Supplies 1103379 1285161 181782 1280 Prepayments 401980 321007 -80973 1290 Prepaid Rents 1300 Prepaid Taxes 1310 Prepaid Insurance 1320 Prepaid Directory Expenses 1330 Other Prepayments 1350 Other Current Assets Noncurrent Assets 1401 Investment in Affiliated Companies 1402 Investment in Nonaffiliated Companies 11127154 11229402 102248 1406 Nonregulated Investments 977764 1640206 662442 1407 Unamortized Debt Issuance Expense 1408 Sinking Funds 1410 Other Noncurrent Assets 1596651 1425827 -170824 1438 Deferred Maintenance & Retirements 1439 Deferred Charges 1665042 2039867 374825 1500 Other Jurisdiction Assets - Net Property, Plant and Equipment 2001 Telecommunications Plants in Service 59457032 61570205 2113173 2002 Prop. Held for Future Telecom. Use 2003 Telecom. Plant under Constr. -Short Term 11551 85402 73851 2004 Telecom. Plant under Constr. - Long Term 2005 Telecom. Plant Adjustment 2006 Nonoperating Plant 2007 Goodwill 0 0 0 Depreciation and Amortization Accounts 0 3100 Accumulated Depreciated -36992606 -38728222 -1735616 3200 Accum. Depre. - Held for Future Use 3300 Accumulated Depreciation - Nonoperating 3400 Accumulated Amortization - Tangible 3410 Accum. Amort. - Capitalized Leases 3420 Accum. Amort. - Leasehold Improvements 3500 Accumulated Amortization - Intangible 3600 Accumulated Amortization - Other TOTAL ASSETS 46470263 48838322 2368059 Rev 3/02 Page 4 BALANCE SHEET Liabilities &Stockholders' Equity Balance Balance Increase Beginning at End or Title of Account of Year of Year (Decrease) Current Liabilities 4010 Accounts Payable 133074 168644 35570 4020 Notes Payable 4030 Advance Billings and Payments 355864 368218 12354 4040 Customer Deposits 6680 6850 170 4050 Current Maturities- Long -Term Debt 791468 823831 32363 4060 Current Maturities- Capital leases 326960 325720 4070 Income Taxes -Accrued 0 4080 Other Taxes -Accrued 0 0 0 4100 Net Current Defer. Oper. Income Taxes 4110 Net Current Defer. Nonoper. Income Taxes 4120 Other Accrued Liabilities 4130 Other Current Liabilities 338675 344152 5477 Long-Term Debt 4210 Funded Debt 6119006 5278737 -840269 4220 Premium on Long-Term Debt 0 4230 Discount on Long-Term Debt 0 4240 Reacquired Debt 0 4250 Obligations Under Capital Leases 1223451 1044011 -179440 4260 Advances from Affiliated Companies 4270 Other Long-Term Debt 0 Other Liabilities &Deferred Credits 4310 Other Long-Term Liabilities 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 4360 Other Deferred Credits 0 4370 Other Juris. Liab. & Def. Credits- Net Stockholders' Equity 4510 Capital Stock 40200 40200 0 4520 Additional Paid-In Capital 4530 Treasury Stock 4540 Other Capital 4550 Retained Earnings 37134885 40437959 3303074 TOTAL LIAB. & OTHER CREDITS 46470263 48838322 2368059 Rev 3/02 Page 5 I-- M O M Cfl N M O O It (0 _� O O CD It 0 CD L ) Il- co (O M 0) "t N � � LO � O O I-- N N O O ti 0) M M CO Cl) O d' (fl 0) Il- LO Cl) N N i M N 't 0) 00 O LO N Il- It 0) (D 00 M p It c 'a a) N O O LO 00 CY) It Cl) ~ N (0N c(DD C.0 ~ WLO } N r �t O� r.. m O N N � LO LO I*- rl- y ay+ (O co O) d E y C ++ Q W U w LO � LO O (D � CAN O) CD 00O LLn LO 00 Z C d 0 r M N N LO CD C*4 N r+ fn a a `O J CL N Om N ti r M N 00 00 V a fA N C.0 CM (OD CD I-- O r y 0) (0 00 M 0) 00 Z E 0 >, M o 00 U = ICN (0 CO J S v Q Q o rn J LU ~ W t- L ti Cl) O O M � O M O CD N O O O Cl) LO M I- O O) O y O 0) r- 00 ti It M LO It M O N I- CY) (V N df ` V O t- t` 00 0) 0) 00 Cl) O N (D (0 ti Cl)Cl) O V ti 0 00 LO 0) 0) 00 Ln LO N (0 M (n N (D !-- (D d' I-- � 0) (0 It N LO LO } C N r O LO (V N (D 't �. 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Q•— U 0 U � O y a) 0- W w LO >, O'Q m 'L O O (0 O U .L "O > L w o (D -0 `= a) o f - O o o m m a�i E � N2QcnCDOmLLOCDQowOfriUcnU -1 Oa. mcn QU — a7 U) U) o >%CN MI' LOCOrNCO ";I- r (NL) CD — CN rr (N M "tCOrr O M M r r r r r N N N N r r r N M M r N It LO Co r CN CN N N N M N � rrrrrrrrrNNNNNNMMMM M 'T It It It "t t CL 0 Q N N N N N N N N N N N N N N N N N N N N N N N N N N N N CC 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. Book Cost of Book Cost of Investments Investments Disposed of Held at Description Date Acquired This year End of Year EntryPoint 796255 CoBank Patronage 0 Redban Investment 0 Syringa Networks 10359692 Raft River Patronage 50205 Lost River Patronage 21258 Syringa Electronic Equip. 883298 Syringa Fiber 498089 Independent Cable Systems 1991 ICS Electronics 0 ICS Cable 0 Spec Access Eq Non-Reg 43921 Internet Equipment 223111 Declo Wireless DSL Elec Declo Wireless DSL Cable Non reg Fiber 1349772 Non Reg Sub Circuit Equip 364832 Syringa Wireless Tower Syringa Wireless Elec Nextphone Website Redban Goodwill DSL Inventory Syringa Wireless Inventory _ 481 Voip Inventory _ 27 Totals 14592932 RECEIVABLES 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. Amount at End of Year Notes Accounts Name of Company Receivable Receivable Customers 514946 Qwest 0 CABS 87406 USAC 0 NECA 1389121 Red-Ban 0 Idaho USF 38709 Syringa Network 0 Misc. 521 Totals 2030703 Rev 3/02 Page 10 NOTES PAYABLE For Notes Payable, list each note separately and include the maturity date and interest rate. Interest Name of Creditor Date of Note Rate Due Date Face Amount Totals ACCOUNTS PAYABLE Report below all Accounts Payable amounting to more than $100.00 Name of Creditor Amount Federal Excise Tax 3283 Misc 154392 Qwest pmts to Arapahoe Tel 0 Syringa Wireless 814 Redban 0 State USF Surcharge 0 Suplmtl Life Employees -260 Conseco/Life Ins. -1508 Raft River Electric Shared Rent 10687 IRS COVID Reimbursement 0 State Use Tax 1588 Utah Use tax -352 Totals 168644 0 Rev 3/02 Page 11 co �-+ N C � 3 r cO C � a L O y..� N a) +� L O LO O �Q U o (o 0 N C) m a) O M N O O a) 0 } ° f0/_1 a CD0 0 � U O (o �C N +�+ 0 o a OI N E ~ m O w co C 00 N It O zm C) r U O - a) C cM O W N C W CY) CL N F- 1 O M i d a) co 7 z C*4 -c-- O O c Ccu �' C)O a7' CDfn C N fl. v 0 3- � O c > LL E mw N v 0= a Q a ca � ca � _0 a) cn �, w o a� y L O i- R O + 'i. > 0 t6 N Q) +J 2 > (Q 7 a) U In C Q) d d 7 m O r.+ y- 7 O C) ° f�Nn (o O L (o U 2- N a) m cn O � Z3 co co O E � C N .O d L. O 06 ._ O o N z ce) y (Q La D a) 0 ol X 0� 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. Number Outstanding per of Shares Par Value Balance Sheet Class &Series of Stock Authorized per Share Shares Amount Common 10000 4.02 Rev 3/02 Page 13 INCOME & RETAINED EARNINGS STATEMENT Item Total Company Idaho Only Total Operating Income (from page 15) 11437342 11431562 Total Operating Expenses (from page 17) 8735008 8679010 7100 Other Operating Income and Expense 0 0 7210 Operating Investment Tax Credits-Net 7220 Operating Federal Income Taxes 0 0 7230 Operating State and Local Income Taxes 0 0 7240 Operating Other Taxes 164055 164055 7250 Provision for Deferred Operating Income Taxes-Net 0 0 7200 Operating Taxes (Total) 164055 164055 7310 Dividend Income 7320 Interest Income 238631 238631 7330 Income from Sinking and Other Funds 7340 Allowance for Funds Used During Construction 0 0 7350 Gains/Losses from the Disposition of Certain Property 0 0 7360 Other Nonoperating Income 341176 341176 7370 Special Charges 7300 Nonoperating Income and Expense 579807 579807 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 141253 141253 7520 Interest Expense-Capital Leases 0 0 7530 Amortization of Debt Issuance Expense 7540 Other Interest Deductions 0 0 7500 Interest and Related Items 141253 141253 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 2401426 2401426 AMOUNT TRANSFERRED TO RETAINED EARNINGS 5378259 0 5428477 Rev 3/02 Page 14 OPERATING REVENUES Item Total Company Idaho Only Local Network Services Revenues 5001 Basic Area Revenue $ 579,779.00 575859 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 $ 71,722.00 71722 5069 Other Local Exchange Settlements Network Access Services Revenues 5081 End User Revenue (SLC) $ 267,200.00 266050 5082 Switched Access Revenue (Interstate) $ 7,360,217.00 7359507 5083 Special Access Revenue $ 2,411,115.00 2411115 5084 State Access Revenue (Intrastate) $ 623,777.00 623777 Long Distance Network Services Revenues 5100 Long Distance Message Revenue-All Miscellaneous Revenues 5230 Directory Revenue 5240 Rent Revenue $ 14,945.00 14945 5250 Corporate Operations Revenue 5261 Special Billing Arrangements Revenue 5262 Customer Operations Revenue $ 508.00 508 5263 Plant Operations Revenue 5264 Other Incidental Regulated Revenue $ - 0 5269 Other Revenue Settlements 5270 Carrier Billing &Collection Revenue $ 123,197.00 123197 Uncollectible Revenues 5301 Uncollectible Revenue-Telecommunications $ (15,118.00) -15118 5302 Uncollectible Revenue- Other TOTAL OPERATING REVENUES $ 11,437,342.00 11431562 Please identify the following revenues: NECA USF $ 1,202,031 To what account were they booked? 5082.12 State USF $ 464502.00 To what account were they booked?5084.50 Rev 3/02 Page 15 OPERATING REVENUES Item Total Company Idaho Only Plant Specific Operations Expense 6110 Network Support Expenses 0 0 6112 Motor Vehicle Expense 44530 44142 6113 Aircraft Expense 0 0 6114 Special Purpose Vehicles Expense 6115 Garage Work Equipment Expense 6116 Other Work Equipment Expense 0 0 6120 General Support Expenses 0 0 6121 Land and Building Expenses 249008 246838 6122 Furniture and Artworks Expense 0 -5 6123 Office Equipment Expense 25386 25169 6124 General Purpose Computers Expense 393595 390165 6210 Central Office Switching Expenses 48878 48452 6211 Analog Electronic Expense 6212 Digital Electronic Expense 0 0 6215 Electro-Mechanical Expense 6220 Operators System Expense 6230 Central Office Transmission Expenses 1021998 1013091 6231 Radio Systems Expense 161700 160291 6232 Circuit Equipment Expense 182569 180978 6310 Information Origination/Termination Expense 0 0 6311 Station Apparatus Expense 0 0 6341 Large Private Branch Exchange Expense 0 6351 Public Telephone Terminal Equipment Expense 0 0.00 6362 Other Terminal Equipment Expense 0 0 6410 Cable and Wire Facilities Expenses -368 -365 6411 Pole Expense 8506 8432 6421 Aerial Cable Expense 297 294 6422 Underground Cable Expense 0 0 6423 Buried Cable Expense 1524134 1510851 6424 Submarine Cable Expense 6425 Deep Sea Cable Expense 6426 Intrabuilding Network Cable Expense 6431 Aerial Wire Expense 6441 Conduit Systems Expense TOTAL PLANT SPECIFIC OPERATIONS EXPENSE 3660233 3628334 Rev 3/02 Page 16 OPERATING REVENUES Item Total Company Idaho Only 3660233 3628334 Plant Nonspecific Operations Expense 6510 Other Property/Plant/Equipment Expenses 0 0 6511 Property Held for Future Telecomm. Use Expenses 0 0 6512 Provisioning Expense 0 0 6530 Network Operations Expense 0 0 6531 Power Expense 125115 124025 6532 Network Administration Expense 89775 88993 6533 Testing Expense 6534 Plant Operations Administration Expense 6535 Engineering Expense 108600 107654 6540 Access Expense 91826 91026 6560 Depreciation and Amortization Expenses 0 0 6561 Depreciation Expense-Telecom. Plant in Service 2309491 2309491 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 2724807 2721188 Customer Operations Expense 0 6610 Marketing 0 0 6611 Product Management 0 0 6612 Sales _ 6613 Product Advertising 28195 27949 6620 Services 2075 2075 6621 Call Completion Services 6622 Number Services 6623 Customer Services 640681 635079 Total Customer Operations Expense 670951 665104 Corporate Operations Expense 6710 Executive and Planning 6711 Executive 781640 774828 6712 Planning 6720 General and Administrative 463264 459227 6721 Accounting and Finance 257591 255346 6722 External Relations 166426 164976 6723 Human Resources 10096 10008 6724 Information Management 0 0 6725 Legal 0 0 6726 Procurement 6727 Research and Development 6728 Other General and Administrative 0 0 6790 Provision for Uncollectible Notes Receivable Total Corporate Operations Expense 1679017 1664384 TOTAL OPERATING EXPENSES 8735008 8679010 Rev 3/02 Page 17 } ( / / 0 = e � k / m # 2 w & / § / ® $ \ C/) 73 CO .z y / E \ / � a / E » 7 / \ \ / U \ r 2 I $ o \ � / \ k / / cl c ¥ e o ) E o � f � 0 \ m � \ a) 2 q § t / $ §� « \ @ e ■ c . w < c m e = c LL $ 7 D E © Z KE � 0 # : / ¥ 4 E 5 2 ) / L / \ $ E \ / \ k / ■ q ¥ § § c 2 = O R = e ¥ o -j z L § \ ) ° / 2 2 \ 2 % 0/ \ t / / E ) k \ / R k \ / v / 7 2 / / / U \ \ $ § \ / S h 2 / o L L O « G I o O 0 2 ci� 00 $ $ � o � _ \ % Co _c » ©� k $ _ \ _ § O 00 o 7 § x / > $ / k \ ( ( u m 0 / / B = c a m 'e _ � \ CS ¥ S 3 k § ° \ p > D / § « G = t 5 3 / \ \ 2 3 \ IL / 0 % m 6 \ e 7 � 0 ° ■ e o k A \ . E / / CO g k % § (a oo � e / E E» e = j \ ° / ° � 2 4- a) : \ / / / / O u o c _ § e e o f \ $ \ / /�k 0 � % k \ 0 \ / / E 2 m m E u U / m ' * u = I - - ■ e 3 Cl) 2 / S / f / Q3 c G 3233 LL0 / L) / / j �\ / ( / . % 2 / \ / 2 k 27 - \ q \ ( $ O ) / 2 e iR G \O \ \ w § O f m M U � m � 2 \ a m > S / / ¥ U = o 0 b = / w 2 w m � � 2 \ / 7 @ (n - � / \ . \ _ / / s � � 2 / 4 m A n # m e ¥' c n / Q % / / f % % % � ANNUAL REPORT FOR SMALL TELEPHONE COMPANIES YEAR ENDED DECEMBER 31, 2014 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_X_ Included in directory Yes X_No Date of notification 3/10/2023 Alternate method of notification Bill insert to customers Rule IDAPA 31.41.01.403.02 Record of Complaints: Number received by Company 1 Category of complaints (if known): Deposit Disputes Charges on Bill Denial/Termination Quality or Availability of Service X Carrier Selection/Assignment Miscellaneous 0 Rev 3/02 Page 20 CERTIFICATE State of Idaho ) } ss County of Cassia I, the undersigned Richard Redman, of Albion Telephone Company, Inc. located at 225 W. North Street, Albion, ID 83311, 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. !9w (Chief Officer) (Officer in Charge of Accounts) Subscribed and Sworn to Before Me this day of 1 (Year) �Z - C(if Notary Pu My Commission expires lam` (Year) c ,``��,►uurrrrr,��� 000� p.ROL/Vy pis eF Rev 3/02 c4�NOTAA'% muc, gdWexcel/jnel son/an uIrpts/telannualrpt �� ��., /Vo 2p1�S;. 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