SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
- --------------------------------------------------
:
In the Matter of :
:
CSW COMMUNICATIONS, INC. : CERTIFICATE
:
CENTRAL AND SOUTH WEST CORPORATION : OF
:
File No. 70-8199 : NOTIFICATION
:
(Public Utility Holding Company Act of 1935) :
- --------------------------------------------------:
This report is filed under Rule 24 of the Public Utility Holding Company
Act of 1935 by CSW Communications, Inc. (CSW Communications) a subsidiary of
Central and South West Corporation (CSW) authorized to operate as a
limited-purpose communications company. Under HCAR 35-26061 dated June 3, 1994,
it is required that CSW Communications file quarterly reports providing: 1) CSW
Communications' Balance Sheet 2) CSW Communications' Statement of Income for the
quarter ended (for the year ended in the case of fourth calendar quarter) 3) a
concise description of bills to and payments by associated companies for such
quarter and 4) a concise description of payments by CapRock Fiber Network, Ltd.
(CapRock) to CSW Communications for such quarter.
1) CSW COMMUNICATIONS' BALANCE SHEET
Refer to Exhibit 1 for CSW Communications' Balance Sheet at December 31,
1996.
2) CSW COMMUNICATIONS' STATEMENT OF INCOME
Refer to Exhibit 2 for CSW Communications' Statement of Income for the
Year Ended December 31, 1996.
<PAGE>
3) DESCRIPTION OF BILLS TO AND PAYMENTS BY ASSOCIATED COMPANIES
BILLS TO ASSOCIATED COMPANIES:
Central Power and Light was billed $28,491 during the reporting period for
the reimbursement of operations and maintenance expense.
RECEIPTS FROM ASSOCIATED COMPANIES:
Description Amount
- ------------------------------------------------ ----------
Receipts from CPL - Reimbursement of expenses $ 28,491
Receipts from CSW Corp - Advance 667,567
==========
Total receipts from Associated Companies $ 696,058
==========
4) DESCRIPTION OF PAYMENTS BY CAPROCK TO CSW COMMUNICATIONS
There were no payments by CapRock to CSW Communications during the
reporting period. Currently, CapRock is in default of its obligations under the
Fiber System Lease and Option Agreement. The lease has been terminated.
S I G N A T U R E
As requested by order of this Commission pursuant to the Public Utility
Holding Company Act of 1935, CSW Communications, Inc. has duly caused this
report to be signed on its behalf on this 31st day
of March 1997.
CSW COMMUNICATIONS, Inc.
/S/ WENDY G. HARGUS
Wendy G. Hargus
Treasurer
EXHIBIT 1
CSW COMMUNICATIONS, INC.
BALANCE SHEET
DECEMBER 31, 1996
ASSETS
Current Assets:
Accounts Receivable - Trade $22,004
Accounts Receivable - Other
57,934
Accounts Receivable - Income Tax 835,997
------------
Total Receivables 915,935
Construction In Progress - Profit Recognized 134,172
Construction In Progress - Resale Project Costs 511,673
Construction In Progress - CSWC Projects 2,770,184
------------
Total Construction In Progress 3,416,029
Total Current Assets 4,331,964
------------
Property, Plant & Equipment:
Plant In Service 15,307,895
Furniture & Fixtures 410,993
Accumulated Depreciation (523,410)
------------
Net Property, Plant & Equipment 15,195,478
------------
Other Assets:
Organizational Costs 153,870
Accumulated Amortization (78,794)
------------
Net Organizational Costs 75,076
Investment in Brooks Fiber, at market value 3,090,600
Prepaid Pension 21,639
------------
Total Other Assets 3,187,315
------------
TOTAL ASSETS $22,714,757
============
LIABILITIES & EQUITY Current Liabilities:
Accounts Payable - Affiliated $844,915
Accounts Payable - Trade 234,698
Advance Billings and Payments 763,304
Interest Payable - Affiliated 119,877
Accrued Payroll & Benefits 213,707
------------
Total Current Liabilities 2,176,501
------------
Long-Term Liabilities:
Note Payable - Affiliated 22,744,763
------------
Total Long-Term Liabilities 22,744,763
------------
Deferred Income Taxes 943,020
Equity:
Common Stock 1,000
Retained Earnings (5,241,227)
Unrealized Gain / (Loss) on Investments 2,090,700
------------
Total Equity (3,149,527)
------------
TOTAL LIABILITIES & EQUITY $22,714,757
============
EXHIBIT 2
CSW COMMUNICATIONS, INC.
STATEMENT OF INCOME
FOR THE YEAR ENDED DECEMBER 31, 1996
REVENUES
Construction $134,172
Leased Lines (Fiber Optics) 484,580
Miscellaneous 59,290
-----------
Total Revenues 678,042
EXPENSES
General and Administrative 5,338,327
Depreciation and Amortization 554,190
Interest 1,108,225
Maintenance 13,843
-----------
Total Expenses 7,014,585
TAXES
Federal Income Tax - Current (2,778,285)
Federal Income Tax - Deferred 422,388
Taxes Other Than Income 394,924
-----------
Total Taxes (1,960,973)
NET INCOME / (LOSS) $(4,375,570)
===========
