2023Annual Report.pdf

RECEIVED
Wednesday, May 15, 2024
IDAHO PUBLIC
UTILITIES COMMISSION
RUR=T
ANNUAL REPORT
OF
NAME
RURAL TELEPHONE COMPANY
892 WEST MADISON AVE
GLENNS FERRY.MMO&Mn
ADDRESS
TO THE
IDAHO PUBLIC
UTILITIES COMMISSION
FOR THE
YEAR ENDED 2023

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: Rural Telephone Company
Address of principal office: 892 W. Madison Ave., Glenns Ferry, ID 83623-2372
Telephone Number Area Code (208) 366-2614 E-mail address: [e-mail]
Cities or towns served: Shoup, Boise River, Tipanuk, Three Creek, Atlanta, Prairie
Name and title of officer having custody of the general corporate books of account:
James R. Martell, President
Address of office where corporate books are kept and phone number: Same as Above
Organized under the laws of the State of: Idaho
Date of organization: 7/27/1979
Form of organization (proprietorship, association, corporation): Corporation
If a Subchapter S Corporation, please specify:
Name and address of controlling company, if any: Martell Enterprises, Inc.
892 W. Madison Ave., Glenns Ferry, ID 83623
Names of affiliated companies. Give address and description of business:
Pend Oreille Telephone Company- Same as Above
Nehalem Telecommunications, Inc. - Same as Above
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
President James R. Martell Same as Above
Vice President Michael J. Martell Same as Above
Sec./Treasurer Matthew J. Martell Same as Above
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
James R. Martell Non-Term 12 $18,000
Michael J. Martell Non-Term 12 $16,800
Angela Carpenter Non-Term 12 $12,000
Andrea Roberts Non-Term 12 $18,000
Mark R. Martell Non-Term 12 $12,000
Matthew Martell Non-Term 12 $12,000
Name of Chairman of the Board: James R. Martell
Name of Secretary (or Clerk) of Board: Matthew J. Martell
Number of Meetings of the Board during the year: 12
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
James R. Martell President $118,000.08
Matthew J. Martell Sec./Treasurer $112,996.00
Michael J. Martell Vice President $120,800.00
Mark R. Martell Administrative Manager $113,986.00
Rev 3/02 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.
None.
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 654,799.39 560,992.01 (93,807.38)
1130 Cash
1140 Special Cash Deposits
1150 Working Cash Advances
1160 Temporary Investments
1180 Telecommunications Accts. Receivable 95,088.52 98,159.02 3,070.50
1181 Accts. Rec. Allow. -Telecommunications
1190 Other Accounts Receivable 1,173,299.82 1,004,180.36 (169,119.46)
1191 Accounts Receivable Allow. - Other
1200 Notes Receivable
1201 Notes Receivable Allowance
1210 Interest& Dividends Receivable
1220 Material and Supplies 545,088.81 490,768.28 (54,320.53)
1280 Prepayments 12,766.01 7,699.42 (5,066.59)
1290 Prepaid Rents
1300 Prepaid Taxes 5,000.00 0.00 (5,000.00)
1310 Prepaid Insurance
1320 Prepaid Directory Expenses
1330 Other Prepayments
1350 Other Current Assets 0.00 0.00 0.00
Noncurrent Assets
1401 Investment in Affiliated Companies 10,021,055.53 10,737,652.47 716,596.94
1402 Investment in Nonaffiliated Companies
1406 Nonregulated Investments 3,302,719.04 3,332,073.19 29,354.15
1407 Unamortized Debt Issuance Expense 1,725,747.13 1,798,659.17 72,912.04
1408 Sinking Funds
1410 Other Noncurrent Assets 275,795.79 281,419.60 5,623.81
1438 Deferred Maintenance & Retirements
1439 Deferred Charges 556.92 167,936.20 167,379.28
1500 Other Jurisdiction Assets - Net
Property, Plant and Equipment
2001 Telecommunications Plants in Service 30,575,924.13 30,135,988.80 (439,935.33)
2002 Prop. Held for Future Telecom. Use 4,000.00 4,000.00 0.00
2003 Telecom. Plant under Constr. - Short Term 157,851.42 623,772.00 465,920.58
2004 Telecom. Plant under Constr. - Long Term
2005 Telecom. Plant Adjustment
2006 Nonoperating Plant
2007 Goodwill
Depreciation and Amortization Accounts
3100 Accumulated Depreciated (25,552,336.86) (26,030,924.73) (478,587.87)
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 (341,268.53) (688,071.78) (346,803.25)
3500 Accumulated Amortization - Intangible
3600 Accumulated Amortization -Other
TOTAL ASSETS 22,656,087.12 22,524,304.01 (131,783.11)
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 371,537.56 385,178.29 13,640.73
4020 Notes Payable
4030 Advance Billings and Payments 46,094.12 46,094.12 0.00
4040 Customer Deposits (10,308,00) 4,427.01 14,735.01
4050 Current Maturities- Long -Term Debt 661,730.56 623,471.98 (38,258.58)
4060 Current Maturities -Capital leases
4070 Income Taxes -Accrued (97,519.84) 145,030.16 242,550.00
4080 Other Taxes -Accrued (3,378.38) (14,186.29) (10,807.91)
4100 Net Current Defer. Oper. Income Taxes
4110 Net Current Defer. Nonoper. Income Taxes
4120 Other Accrued Liabilities 185,230.65 197,450.19 12,219.54
4130 Other Current Liabilities 1,505,244.25 1,120,948.56 (384,295.69)
Long-Term Debt
4210 Funded Debt 1,382,509.42 834,708.08 (547,801.34)
4220 Premium on Long-Term Debt
4230 Discount on Long-Term Debt
4240 Reacquired Debt
4250 Obligations Under Capital Leases 1,383,269.39 1,105,322.29 (277,947.10)
4260 Advances from Affiliated Companies
4270 Other Long-Term Debt 130,996.76 54,504.45 (76,492.31)
Other Liabilities & Deferred Credits
4310 Other Long-Term Liabilities
4320 Unamort. Oper. Invest. Tax Credits- Net 100,533.00 96,885.00 (3,648.00)
4330 Unamort. Nonoper. Invest. Tax Credits- Net
4340 Net Noncurrent Defer. Oper. Income Taxes 463,728.00 421,984.00 (41,744.00)
4350 Net Noncur. Defer. Nonoper. Income Taxes 108,202.00 47,549.00 (60,653.00)
4360 Other Deferred Credits
4370 Other Juris. Liab. & Def. Credits- Net 178,114.00 153,240.00 (24,874.00)
Stockholders' Equity
4510 Capital Stock 56,900.00 56,900.00 0.00
4520 Additional Paid-In Capital 10,197.00 10,197.00 0.00
4530 Treasury Stock
4540 Other Capital
4550 Retained Earnings 16,183,006.63 17,234,600.17 1,051,593.54
TOTAL LIAB. & OTHER CREDITS 22,656,087.12 22,524,304.01 (131,783.11)
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.
Book Cost of Book Cost of
Investments Investments
Disposed of Held at
Description Date Acquired This year End of Year
NRTC Patronage - 1406.10 2005 281,419.60
Syringa Networks, LLC - 1406 2001 3,316,573.19
Solix- 1406 10,000.00
Telespire - 1406 2006 2,500.00
Fairfield Internet - 1406 2006 3,000.00
Pend Oreille Telephone - 1401 1997 8,082,080.26
Nehalem Telecommunications - 1401 2004 2,665,572.21
Totals 14,361,145.26
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
Customer- 1180 98,159.02
Customer- 1190 33,917.27
Advances - 1350 8,036.14
NECA- 1190 272,279.57
CABS - 1190 38,409.48
State USF - 1190 25,185.03
Miscellaneous - 1190 109.29
Elmore County E911 - 1190 1,878.35
Totals 0.00 477,974.15
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
None.
Totals
ACCOUNTS PAYABLE
Report below all Accounts Payable amounting to more than $100.00
Name of Creditor Amount
Charles Schwab Trust Company 10,445.86
Comdata 4,310.68
Computer Technology, Inc. 12,370.40
Continental Western Group 20,958.00
Ditch Witch of the Rockies 13,171.59
Elmore County Tax Collector 15,217.87
Forvis, LLP 11,680.96
Idaho State Tax Commission 13,606.50
Internal Revenue Service 29,610.53
Little Valley Elk Ranch 11,685.68
Moss Adams, LLP 6,506.42
NeoNova Network Services, LLC. 12,093.00
Power&Telephone Supply Co., Inc. 97,430.54
Syringa Networks, LLC 28,856.33
Taylor Weston &Associates Inc. 9,072.66
US Bank 34,901.91
Williamette Management Associates 8,444.26
Nevada Bell 2,198.76
Other IXCs 1,402.38
Other A/P 40,342.95
Totals 384,307.28
Rev 3/02 Page 11

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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.
Number Outstanding per
of Shares Par Value Balance Sheet
Class & Series of Stock Authorized per Share Shares Amount
Common Stock 2,500 100.00 569 56,900.00
Rev 3/02 Page 13

INCOME & RETAINED EARNINGS STATEMENT
Item Total Company Idaho Only
Total Operating Income (from page 16) 5,543,745.16 3,147,588.66
Total Operating Expenses (from page 18) 4,715,925.45 2,936,377.55
7100 Other Operating Income and Expense 184.933.03 184,933.03
7210 Operating Investment Tax Credits-Net 3,648.00 3,648.00
7220 Operating Federal Income Taxes (133,754.00) 3,041.28
7230 Operating State and Local Income Taxes (29,772.00) (29,772.00)
7240 Operating Other Taxes (51,315.56) (38,945.28)
7250 Provision for Deferred Operating Income Taxes-Net 66,619.00 37,519.82
7200 Operating Taxes (Total) (144,574.56) (24,508.18)
7310 Dividend Income 15,470.39 8,712.92
7320 Interest Income 61.37 34.56
7330 Income from Sinking and Other Funds
7340 Allowance for Funds Used During Construction 3,626.36 1,428.56
7350 Gains/Losses from the Disposition of Certain Property 0.00 0.00
7360 Other Nonoperating Income 1,172,352.09 660,268.70
7370 Special Charges (24,812.89) (13,974.62)
7300 Nonoperating Income and Expense 1,166,697.32 656,470.12
7410 Nonoperating Investment Tax Credits-Net
7420 Nonoperating Federal Income Taxes (178,411.00) (100,481.08)
7430 Nonoperating State and Local Income Taxes (20,822.00) (11,726.95)
7440 Nonoperating Other Taxes
7450 Provision for Deferred Nonoperating Income Taxes-Net 60,653.00 34,159.77
7400 Nonoperating Taxes (138,580.00) (78,048.26)
7510 Interest on Funded Debt (75,838.59) (42,712.29)
7520 Interest Expense-Capital Leases
7530 Amortization of Debt Issuance Expense
7540 Other Interest Deductions (49,285.27) (27,757.46)
7500 Interest and Related Items (125,123.86) (70,469.75)
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 0.00 0.00
7910 Income Effect of Jurisdictional Ratemaking
Differences-Net
7990 Nonregulated Net Income (253,427.11) (142,191.59)
AMOUNT TRANSFERRED TO RETAINED EARNINGS 1,517,744.53 737,396.48
Rev 3/02 Page 14

OPERATING REVENUES
Item Total Company Idaho Only
Local Network Services Revenues
5001 Basic Area Revenue 411,336.01 222.747.41
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 11,850.61 11,573.45
423,186.62 234,320.86.
Network Access Services Revenues
5081 End User Revenue(SLC) 141,433.23 81795.14
5082 Switched Access Revenue(Interstate) 3,837,502.20 2,146,183.59
5083 Special Access Revenue 138,554.64 0.00
5084 State Access Revenue(Intrastate) 582,905.05 294,958.11
5101 Long Distance Network Services Revenues 14,381.49 4,555.73
5100 Long Distance Message Revenue-All 26.59 0.00
4,714,803.20 2,527,492.57
Internet Services
5280.10 DSL Modem Revenue Idaho 8,638.84 8,638.84
5280.20 DSL Modem Revenue Nevada 16,387.49 0.00
25,026.33 8,638.84
Other Non-Regulated Revenues
5280.30 Fiber Lease Idaho 326,120.94 326,120.94
5280.31 DWNM Circuit Equipment Lease 48,863.00 48,863.00
374,983.94 374,983.94
Miscellaneous Revenues
5230.10 Directory Revenue Idaho 1.80 1.80
5230.20 Directory Revenue Nevada 0.00 0.00
5220.10 Intrastate B&C Idaho 0.63 0.63
5220.20 Intrastate B&C Nevada 2,612.55 0.00
5260.10 Misc Revenue Idaho 1,562.04 1,562.04
5260.20 Misc Revenue Nevada 980.07 0.00
5,157.09 1,564.47
Uncollectible Revenues
5300.10 Uncollectible Revenue Idaho 587.98 587.98
5300.20 Uncollectible Revenue Nevada 0.00 0.00
587.98 587.98
TOTAL OPERATING REVENUES 5,543,745.16 3,147,588.66
Please identify the following revenues:
NECA USF $25,185.08. To what account were they booked?5081.21
State USF $277,035.88. To what account were they booked?5084.21
Rev 3/02 Page 15

OPERATING REVENUES
Item Total Company Idaho Only
Plant Specific Operations Expense
6110 Network Support Expenses
6112 Motor Vehicle Expense 19.187.40 10,806.34
6113 Aircraft Expense
6114 Special Purpose Vehicles Expense
6115 Garage Work Equipment Expense
6116 Other Work Equipment Expense
6120 General Support Expenses 68,862.97 38,783.62
6121 Land and Building Expenses 254,510.90 236,655.80
6122 Furniture and Artworks Expense
6123 Office Equipment Expense
6124 General Purpose Computers Expense
6210 Central Office Switching Expenses 223,117.19 149,575.69
6211 Analog Electronic Expense
6212 Digital Electronic Expense
6215 Electro-Mechanical Expense
6220 Operators System Expense
6230 Central Office Transmission Expenses 438,035.00 181,839.15
6231 Radio Systems Expense
6232 Circuit Equipment Expense
6310 Information Origination/Termination Expense
6311 Station Apparatus Expense
6341 Large Private Branch Exchange Expense
6351 Public Telephone Terminal Equipment Expense 0.00 0.00
6362 Other Terminal Equipment Expense
6410 Cable and Wire Facilities Expenses 591,578.26 364,995.66
6411 Pole Expense
6421 Aerial Cable Expense 0.00 0.00
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
TOTAL PLANT SPECIFIC OPERATIONS EXPENSE 1,595,291.72 982,656.26
Rev 3/02 Page 16

OPERATING REVENUES
Item Total Company Idaho Only
Plant Nonspecific Operations Expense
6510 Other Property/Plant/Equipment Expenses
6511 Property Held for Future Telecomm. Use Expenses
6512 Provisioning Expense (805.29) 1,986.30
6530 Network Operations Expense
6531 Power Expense 88,469.97 53,518.01
6532 Network Administration Expense 152,737.08 75,095.60
6533 Testing Expense
6534 Plant Operations Administration Expense
6535 Engineering Expense 10,067.09 5,241.74
6540 Access Expense (167,634.40) (94,411.69)
6560 Depreciation and Amortization Expenses 117,540.75 65,429.83
6561 Depreciation Expense-Telecom. Plant in Service 1,086,075.79 824,264.08
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
1,286,450.99 931,123.87
Customer Operations Expense
6610 Marketing 20,983.88 11,818.12
6611 Product Management
6612 Sales
6613 Product Advertising
6620 Services
6621 Call Completion Services
6622 Number Services
6623 Customer Services 170,320.47 88,476.31
Total Customer Operations Expense 191,304.35 100,294.43
Corporate Operations Expense
6710 Executive and Planning 565,939.30 318,737.01
6711 Executive
6712 Planning
6720 General and Administrative 903,055.48 508,600.85
6721 Accounting and Finance 169,575.23 92,297.95
6722 External Relations
6723 Human Resources
6724 Information Management
6725 Legal 4,308.38 2,667.18
6726 Procurement
6727 Research and Development
6728 Other General and Administrative
6790 Provision for Uncollectible Notes Receivable
Total Corporate Operations Expense 1,642,878.39 922,302.99
TOTAL OPERATING EXPENSES 3,120,633.73 1,953,721.29
Rev 3/02 Page 17

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ANNUAL REPORT FOR SMALL TELEPHONE COMPANIES
YEAR ENDED DECEMBER 31, 2022.
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 Monthly included on customer billing
Alternate method of notification Newspaper publications: (copies attached)
Times News -Twin Falls, ID, 6/23/2023, 10/19/2023.
Record Herald - Salmon ID, 6/29/2023, 10/19/2023.
Mountain Home News- Mountain Home, ID , 6/28/2023, 10/18/2023.
Idaho Statesman - Boise. ID. 6/20/2023, 10/13/2023.
Rule IDAPA 31.41.01.403.02
Record of Complaints:
Number received by Company 0
Category of complaints (if known):
Deposit Disputes 0
Charges on Bill 0
Denial/Termination 0
Quality or Availability
of Service 0
Carrier Selection/Assignment 0
Miscellaneous 0
Rev 3/02
Page 20

CERTIFICATE
State of Idaho )
ss
County of )
WE, the undersigned Michael J. Martell
and Mark R. Martell
of the Rural Telephone Company 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
(C ief Officer)
C� f
(Officer in Charge of Accounts)
Subscribed and Sworn to Before Me this day of (Year) JL)q
UNotary Public `\\������u�nrnur����
My Commission expires (Year) ��•!Z
PU6\-� y0�o'O
Rev 3/02 �STgrTEr`O�\10`\�..
gdk/excel/jnelson/anulrpts/telannualrpt
Page 21

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