Form U -13 - 60
Mutual and Subsidiary Service Companies
ANNUAL REPORT
FOR THE PERIOD
Beginning January 1, 1995 and Ending December 31, 1995
TO THE
U. S. SECURITIES AND EXCHANGE COMMISSION
OF
NORTHEAST UTILITIES SERVICE COMPANY
A Subsidiary Service Company
Date of Incorporation - September 3, 1965
State of Sovereign Power under which Incorporated or
Organized - Connecticut
Location of Principal Executive Offices of Reporting
Company - Selden Street, Berlin, CT 06037
Name, title, and address of officer to whom correspondence
concerning this report should be addressed:
John J. Roman, Vice President and Controller,
P.O. Box 270, Hartford, CT 06141-0270
Name of Principal Holding Company Whose Subsidiaries
are served by Reporting Company
NORTHEAST UTILITIES
INSTRUCTIONS FOR USE ON FORM U-13-60
1. TIME OF FILING
Rule 94 provides that on or before the first day of May in each calendar
year, each mutual service company and each subsidiary service company as to
which the Commission shall have made a favorable finding pursuant to Rule 88,
and every service company whose application for approval or declaration
pursuant to Rule 88 is pending shall file with the Commission an annual
report on Form U-13-60 and in accordance with the instructions for that form.
2. NUMBER OF COPIES
Each annual report shall be filed in duplicate. The company should prepare
and retain at least one extra copy for itself in case correspondence with
reference to the report becomes necessary.
3. PERIOD COVERED BY REPORT
The first report filed by any company shall cover the period from the date
the Uniform System of Accounts was required to be made effective as to that
company under Rules 82 and 93 to the end of that calendar year. Subsequent
reports should cover a calendar year.
4. REPORT FORMAT
Reports shall be submitted on the forms prepared by the Commission. If the
space provided on any sheet of such form is inadequate, additional sheets may
be inserted of the same size as a sheet of the form or folded to such size.
5. MONEY AMOUNTS DISPLAYED
All money amounts required to be shown in financial statements may be
expressed in whole dollars, in thousands of dollars or in hundred thousands
of dollars, as appropriate, and subject to provisions of Regulation S-X
(Section 210.3-0.1(b)).
6. DEFICITS DISPLAYED
Deficits and other like entries shall be indicated by the use of either
brackets or a parenthesis with corresponding reference in footnotes.
(Regulation S-X, (Section 210.3-0.1(c)).
7. MAJOR AMENDMENTS OR CORRECTIONS
Any company desiring to amend or correct a major omission or error in a
report after it has been filed with the Commission shall submit an amended
report including only those pages, schedules, and entries that are to be
amended or corrected. A cover letter shall be submitted requesting the
Commission to incorporate the amended report changes and shall be signed by a
duly authorized officer of the company.
8. DEFINITIONS
Definitions contained in Instruction 01-8 to the Uniform System of Accounts
for Mutual Service Companies and Subsidiary Service Companies, Public Utility
Holding Company Act of 1935, as amended February 2, 1979 shall be applicable
to words or terms used specifically within this Form U-13-60.
9. ORGANIZATION CHART
The service company shall submit with each annual report a copy of its
current organization chart.
10. METHODS OF ALLOCATION
The service company shall submit with each annual report a listing of the
currently effective methods of allocation being used by the service company
and on file with the Securities and Exchange Commission pursuant to the
Public Utility Holding Company Act of 1935.
11. ANNUAL STATEMENT OF COMPENSATION FOR USE OF CAPITAL BILLED
The service company shall submit with each annual report a copy of the annual
statement supplied to each associate company in support of the amount of
compensation for use in capital billed during the calendar year.
LISTING OF SCHEDULES AND ANALYSIS OF ACCOUNTS
---------------------------------------------
Schedule or Page
Description of Schedules and Accounts Acct. No. No.
- ------------------------------------- ------------------- -----
COMPARATIVE BALANCE SHEET Schedule I 4-5
SERVICE COMPANY PROPERTY Schedule II 6-7
ACCUMULATED PROVISION FOR DEPRECIATION AND
AMORTIZATION OF SERVICE COMPANY Schedule III 8
INVESTMENTS Schedule IV 9
ACCOUNTS RECEIVABLE FROM ASSOCIATE COMPANIES Schedule V 10
FUEL STOCK EXPENSES UNDISTRIBUTED Schedule VI 11
STORES EXPENSE UNDISTRIBUTED Schedule VII 12
MISCELLANEOUS CURRENT AND ACCRUED ASSETS Schedule VIII 13
MISCELLANEOUS DEFERRED DEBITS Schedule IX 14
RESEARCH, DEVELOPMENT, OR DEMONSTRATION
EXPENDITURES Schedule X 15
PROPRIETARY CAPITAL Schedule XI 16
LONG-TERM DEBT Schedule XII 17
CURRENT AND ACCRUED LIABILTIES Schedule XIII 18
NOTES TO FINANCIAL STATEMENTS Schedule XIV 19
COMPARATIVE INCOME STATEMENT Schedule XV 20
ANALYSIS OF BILLING - ASSOCIATE COMPANIES Account 457 21
ANALYSIS OF BILLING - NONASSOCIATE COMPANIES Account 458 22
ANALYSIS OF CHARGES FOR SERVICE - ASSOCIATE
AND NONASSOCIATE COMPANIES Schedule XVI 23
SCHEDULE OF EXPENSE BY DEPARTMENT OR SERVICE
FUNCTION Schedule XVII 24-25
DEPARTMENTAL ANALYSIS OF SALARIES Account 920 26
OUTSIDE SERVICES EMPLOYED Account 923 27
EMPLOYEE PENSIONS AND BENEFITS Account 926 28
GENERAL ADVERTISING EXPENSES Account 930.1 29
MISCELLANEOUS GENERAL EXPENSES Account 930.2 30
RENTS Account 931 31
TAXES OTHER THAN INCOME TAXES Account 408 32
DONATIONS Account 426.1 33
OTHER DEDUCTIONS Account 426.5 34
NOTES TO STATEMENT OF INCOME Schedule XVIII 35
LISTING OF INSTRUCTIONAL FILING REQUIREMENTS
--------------------------------------------
Page
Description of Reports or Statements No.
- ------------------------------------ -----
ORGANIZATION CHART 36
METHODS OF ALLOCATION 37
ANNUAL STATEMENT OF COMPENSATION FOR
USE OF CAPITAL BILLED 38
SIGNATURE PAGE 39
<TABLE>
<CAPTION>
ANNUAL REPORT OF NORTHEAST UTILITIES SERVICE COMPANY
SCHEDULE I - COMPARATIVE BALANCE SHEET
Give balance sheet of the Company as of December 31 of the current and prior year.
- ----------------------------------------------------------------------------------------
ACCOUNT ASSETS AND OTHER DEBITS AS OF DECEMBER 31
- ----------------------------------------------------------------------------------------
1995 1994
(Thousands of Dollars)
<S> <C> <C>
SERVICE COMPANY PROPERTY
------------------------
101 Service company property (Schedule II) $95,672 $65,531
107 Construction work in progress (Schedule II) 6,571 21,269
----------- -----------
Total Property 102,243 86,800
----------- -----------
108 Less accumulated provision for depreciation and
amortization of service company property (Schedule III) 62,933 57,657
----------- -----------
Net Service Company Property 39,310 29,143
----------- -----------
INVESTMENTS
-----------
123 Investments in associate companies (Schedule IV) - -
124 Other investments (Schedule IV) 4,630 949
----------- -----------
Total Investments 4,630 949
----------- -----------
CURRENT AND ACCRUED ASSETS
--------------------------
131 Cash 7,446 16,464
134 Special deposits - -
135 Working funds 471 471
136 Temporary cash investments (Schedule IV) 7,831 -
141 Notes receivable - -
143 Accounts receivable 28,805 21,448
144 Accumulated provision of uncollectible accounts - -
146 Accounts receivable from associate companies (Schedule V) 94,551 144,628
152 Fuel stock expenses undistributed (Schedule VI) - -
154 Materials and supplies 129 73
163 Stores expense undistributed (Schedule VII) - -
165 Prepayments 1,051 1,010
174 Miscellaneous current and accrued assets (Schedule VIII) - -
----------- -----------
Total Current and Accrued Assets 140,284 184,094
----------- -----------
DEFERRED DEBITS
---------------
181 Unamortized debt expense - -
184 Clearing accounts 172 59
186 Miscellaneous deferred debits (Schedule IX) 6,440 4,586
188 Research, development, or demonstration
expenditures (Schedule X) - -
190 Accumulated deferred income taxes 14,913 14,759
----------- -----------
Total Deferred Debits 21,525 19,404
----------- -----------
TOTAL ASSETS AND OTHER DEBITS $205,749 $233,590
=========== ===========
</TABLE>
<TABLE>
<CAPTION>
ANNUAL REPORT OF NORTHEAST UTILITIES SERVICE COMPANY
SCHEDULE I - COMPARATIVE BALANCE SHEET
Give balance sheet of the Company as of December 31 of the current and prior year.
- ----------------------------------------------------------------------------------------
ACCOUNT LIABILITIES AND PROPRIETARY CAPITAL AS OF DECEMBER 31
- ----------------------------------------------------------------------------------------
1995 1994
(Thousands of Dollars)
<S> <C> <C>
PROPRIETARY CAPITAL
-------------------
201 Common stock issued (Schedule XI) $- $-
211 Miscellaneous paid-in-capital (Schedule XI) 1 1
215 Appropriated retained earnings (Schedule XI) - -
216 Unappropriated retained earnings (Schedule XI) - -
----------- -----------
Total Proprietary Capital 1 1
----------- -----------
LONG-TERM DEBT
--------------
223 Advances from associate companies (Schedule XII) - -
224 Other long-term debt (Schedule XII) - -
225 Unamortized premium on long-term debt - -
226 Unamortized discount on long-term debt-debit - -
----------- -----------
Total Long-Term Debt - -
----------- -----------
CURRENT AND ACCRUED LIABILITIES
-------------------------------
231 Notes payable - -
232 Accounts payable 60,469 45,800
233 Notes payable to associate companies (Schedule XIII) 65,275 121,725
234 Accounts payable to associate companies (Schedule XIII) 3,165 4,663
236 Taxes accrued 7,619 5,731
237 Interest accrued 163 -
238 Dividends declared - -
241 Tax collections payable (585) 124
242 Miscellaneous current and accrued
liabilities (Schedule XIII) 42,985 38,681
----------- -----------
Total Current and Accrued Liabilities 179,091 216,724
----------- -----------
DEFERRED CREDITS
----------------
253 Other deferred credits 26,657 16,865
255 Accumulated deferred investment tax credits - -
----------- -----------
Total Deferred Credits 26,657 16,865
----------- -----------
282 ACCUMULATED DEFERRED INCOME TAXES - -
--------------------------------- ----------- -----------
TOTAL LIABILITIES AND PROPRIETARY CAPITAL $205,749 $233,590
=========== ===========
</TABLE>
<TABLE>
<CAPTION>
ANNUAL REPORT OF NORTHEAST UTILITIES SERVICE COMPANY
For the Year Ended December 31, 1995
SCHEDULE II - SERVICE COMPANY PROPERTY
- -------------------------------------------------------------------------------------------
BALANCE AT RETIREMENTS BALANCE
BEGINNING OR OTHER AT CLOSE
DESCRIPTION OF YEAR ADDITIONS SALES CHANGES(1) OF YEAR
- -------------------------------------------------------------------------------------------
(Thousands of Dollars)
<S> <C> <C> <C> <C> <C>
SERVICE COMPANY PROPERTY
- ------------------------
Account
- -------
301 ORGANIZATION
303 MISCELLANEOUS INTANGIBLE PLANT $468 $370 $838
304 LAND AND LAND RIGHTS
305 STRUCTURES AND IMPROVEMENTS
306 LEASEHOLD IMPROVEMENTS 2,812 2,812
307 EQUIPMENT (2) 46,481 28,135 74,616
308 OFFICE FURNITURE AND EQUIPMENT 14,801 1,003 1 15,803
309 AUTOMOBILES, OTHER VEHICLES
AND RELATED GARAGE EQUIPMENT 2 2
310 AIRCRAFT AND AIRPORT EQUIPMENT
311 OTHER SERVICE COMPANY
PROPERTY (3) 967 634 1,601
---------- --------- ----------- ---------- ----------
SUB-TOTAL 65,531 30,142 1 0 95,672
---------- --------- ----------- ---------- ----------
107 CONSTRUCTION WORK IN
PROGRESS (4) 21,269 (14,698) 6,571
---------- --------- ----------- ---------- ----------
TOTAL $86,800 $15,444 $1 $0 $102,243
========== ========= =========== ========== ==========
- -------------------------------------------------------------------------------------------
(1) PROVIDE AN EXPLANATION OF THOSE CHANGES CONSIDERED MATERIAL:
NONE
</TABLE>
<TABLE>
<CAPTION>
SCHEDULE II - CONTINUED
-----------------------
(2) SUBACCOUNTS ARE REQUIRED FOR EACH CLASS OF EQUIPMENT OWNED. THE SERVICE COMPANY
SHALL PROVIDE A LISTING BY SUBACCOUNT OF EQUIPMENT ADDITIONS DURING THE YEAR AND
THE BALANCE AT THE CLOSE OF THE YEAR:
- -----------------------------------------------------------------------------------------
BALANCE
AT CLOSE
SUBACCOUNT DESCRIPTION ADDITIONS OF YEAR
- -----------------------------------------------------------------------------------------
(Thousands of Dollars)
<S> <C> <C>
307NAAutomatic Data Processing Equipment $14,384 $49,459
307NBConstruction Equipment 63 206
307NCOther Communication Equipment 13,588 21,008
307NLResearch and Laboratory Equipment 90 3,772
307NMMicrowave Equipment 10 159
307NPPrinting and Stationery Equipment 0 12
----------- ----------
TOTAL $28,135 $74,616
=========== ==========
- -----------------------------------------------------------------------------------------
(3) DESCRIBE OTHER SERVICE COMPANY PROPERTY:
This account includes audio, visual, cafeteria and training equipment.
- -----------------------------------------------------------------------------------------
(4) DESCRIBE CONSTRUCTION WORK IN PROGRESS:
This account includes data processing equipment and other general plant items.
</TABLE>
<TABLE>
<CAPTION>
ANNUAL REPORT OF NORTHEAST UTILITIES SERVICE COMPANY
For the Year Ended December 31, 1995
SCHEDULE III
ACCUMULATED PROVISION FOR DEPRECIATION AND
AMORTIZATION OF SERVICE COMPANY PROPERTY
------------------------------------------
- -------------------------------------------------------------------------------------------
ADDITIONS OTHER
BALANCE AT CHARGED CHANGES BALANCE
BEGINNING TO ADD AT CLOSE
DESCRIPTION OF YEAR ACCT 403 RETIREMENTS (DEDUCT)1/ OF YEAR
- -------------------------------------------------------------------------------------------
(Thousands of Dollars)
<S> <C> <C> <C> <C> <C>
Account
- -------
301 ORGANIZATION
303 MISCELLANEOUS INTANGIBLE PLANT $468 $22 $490
304 LAND AND LAND RIGHTS
305 STRUCTURES AND IMPROVEMENTS
306 LEASEHOLD IMPROVEMENTS 2,684 5 2,689
307 EQUIPMENT 39,891 4,984 26 44,901
308 OFFICE FURNITURE AND FIXTURES 13,983 128 (1) 14,110
309 AUTOMOBILES, OTHER VEHICLES
AND RELATED GARAGE EQUIPMENT 2 2
310 AIRCRAFT AND AIRPORT EQUIPMENT
311 OTHER SERVICE COMPANY
PROPERTY 629 112 741
---------- --------- ----------- ---------- ----------
TOTAL $57,657 $5,251 $0 $25 $62,933
========== ========= =========== ========== ==========
- -------------------------------------------------------------------------------------------
(1) PROVIDE AN EXPLANATION OF THOSE CHANGES CONSIDERED MATERIAL:
NONE
</TABLE>
<TABLE>
<CAPTION>
ANNUAL REPORT OF NORTHEAST UTILITIES SERVICE COMPANY
For the Year Ended December 31, 1995
SCHEDULE IV - INVESTMENTS
INSTRUCTIONS: Complete the following schedule concerning investments.
Under Account 124, "Other Investments," state each investment
separately, with description, including the name of issuing company,
number of shares or principal amount, etc.
Under Account 136, "Temporary Cash Investments," list each investment
separately.
- ---------------------------------------------------------------------------------------
BALANCE AT BALANCE AT
BEGINNING CLOSE
DESCRIPTION OF YEAR OF YEAR
- ---------------------------------------------------------------------------------------
(THOUSANDS OF DOLLARS)
<S> <C> <C>
ACCOUNT 123 - INVESTMENT IN ASSOCIATE COMPANIES $- $-
ACCOUNT 124 - OTHER INVESTMENTS:
Cash Surrender Value of Company Owned Life Insurance 949 949
RABBI Trust Investment (Supplemental Executive
Retirement Savings Plan) - 3,681
----- ------
Total - ACCOUNT 124 949 4,630
ACCOUNT 136 - TEMPORARY CASH INVESTMENTS
AT&T Commercial Paper, due January 5, 1996 - 7,831
----------- ----------
TOTAL $949 $12,461
=========== ==========
</TABLE>
<TABLE>
<CAPTION>
ANNUAL REPORT OF NORTHEAST UTILITIES SERVICE COMPANY
For the Year Ended December 31, 1995
SCHEDULE V - ACCOUNTS RECEIVABLE FROM ASSOCIATE COMPANIES
INSTRUCTIONS: Complete the following schedule listing accounts receivable from each
associate company. Where the service company has provided accommodation or
convenience payments for associate companies, a separate listing of total
payments for each associate company by subaccount should be provided.
- ------------------------------------------------------------------------------------------
BALANCE AT BALANCE AT
BEGINNING CLOSE
DESCRIPTION OF YEAR OF YEAR
- ------------------------------------------------------------------------------------------
(Thousands of Dollars)
<S> <C> <C>
ACCOUNT 146 - ACCOUNTS RECEIVABLE FROM ASSOCIATE COMPANIES
ACCOUNTS RECEIVABLE FROM ASSOCIATE COMPANIES
- ---------------------------------------------
Northeast Utilities $2,538 $1,039
The Connecticut Light and Power Company 10,548 7,999
The Rocky River Realty Company 376 224
Holyoke Water Power Company 1 557
Holyoke Power and Electric Company 1 (6)
Western Massachusetts Electric Company 4,211 27,070
Public Service Company of New Hampshire 2,779 6,469
North Atlantic Energy Corporation 38 36
North Atlantic Service Energy Corporation 1,186 1,773
The Quinnehtuk Company 7 4
Northeast Nuclear Energy Company 848 7,725
Charter Oak Energy Incorporated 192 67
Charter Oak Paris Incorporated 0 0
COE (UK) Corporation 7 3
COE Development Corporation 134 246
HEC Inc. 37 120
---------- -----------
22,903 53,326
---------- -----------
NOTES RECEIVABLE (MONEY POOL) FROM ASSOCIATE COMPANIES
- -------------------------------------------------------
The Connecticut Light and Power Company 92,750 10,250
Public Service Company of New Hampshire 0 0
North Atlantic Energy Corporation 0 8,000
The Rocky River Realty Company 16,500 16,500
The Quinnehtuk Company 4,500 4,800
Northeast Nuclear Energy Company 6,000 0
HEC Inc. 1,975 1,675
---------- -----------
121,725 41,225
---------- -----------
TOTAL $144,628 $94,551
========== ===========
ANALYSIS OF CONVENIENCE OR ACCOMMODATION PAYMENTS:
See page 10A for details
</TABLE>
<TABLE>
<CAPTION>
ANNUAL REPORT OF NORTHEAST UTILITIES SERVICE COMPANY
For the Year Ended December 31, 1995
SCHEDULE V - ACCOUNTS RECEIVABLE FROM ASSOCIATE COMPANIES
INSTRUCTIONS: Complete the following schedule listing accounts receivable from each
associate company. Where the service company has provided accommodation or
convenience payments for associate companies, a separate listing of total
payments for each associate company by subaccount should be provided.
- ------------------------------------------------------------------------------------------
TOTAL
PAYMENTS
- ------------------------------------------------------------------------------------------
(Thousands
of Dollars)
<S> <C>
ANALYSIS OF CONVENIENCE OR ACCOMMODATION PAYMENTS:
Northeast Utilities $3,642
The Connecticut Light and Power Company 70,738
Holyoke Water Power Company 3,550
Western Massachusetts Electric Company 28,267
Public Service Company of New Hampshire 51,864
North Atlantic Energy Corporation (93)
North Atlantic Service Energy Corporation 6,882
Northeast Nuclear Energy Company 32,023
Charter Oak Energy Incorporated 169
COE Development Corporation 1,023
COE (UK) Corporation 8
The Quinnehtuk Company 7
The Rocky River Realty Company 440
HEC Inc. 54
-----------
TOTAL $198,574
===========
Convenience payments result primarily from the following items:
Net Power Exchange ($5,622)
Employee Pensions and Benefits 97,264
U.S. Department of Energy Fees 9,762
Electric Power Research Institute Fees 5,239
Legal Services 2,610
Nuclear Insurance 2,365
Non-Nuclear Insurance 5,896
Engineering Services 8,738
Communication Expenses 7,889
Security Services 1,340
Payroll Deductions to Credit Unions 29,496
Temporary Personnel Services 1,763
Department of Environmental Protection 891
Fuel Purchases 2,915
Miscellaneous (1516 items) 28,028
-----------
TOTAL $198,574
===========
</TABLE>
<TABLE>
<CAPTION>
ANNUAL REPORT OF NORTHEAST UTILITIES SERVICE COMPANY
For the Year Ended December 31, 1995
SCHEDULE VI - FUEL STOCK EXPENSES UNDISTRIBUTED
INSTRUCTIONS: Report the amount of labor and expenses incurred with respect to fuel
stock expenses during the year and indicate amount attributable to each
associate company. Under the section headed "Summary" listed below, give
an overall report of the fuel functions performed by the service
company.
- --------------------------------------------------------------------------------------
DESCRIPTION LABOR EXPENSES TOTAL
- --------------------------------------------------------------------------------------
(Thousands of Dollars)
<S> <C> <C> <C>
ACCOUNT 152 - FUEL STOCK EXPENSES
UNDISTRIBUTED $524 $37 $561
The above fuel stock expenses are billed
back to each of the associated companies
listed below:
The Connecticut Light and Power Company (189) (15) (204)
Public Service Company of New Hampshire (215) (16) (231)
Western Massachusetts Electric Company (26) (1) (27)
Holyoke Water Power Company (94) (5) (99)
------- ------- -------
TOTAL $0 $0 $0
======= ======= =======
- --------------------------------------------------------------------------------------
SUMMARY: Fuel functions performed by the Service Company consist mainly of the
acquisition of fossil fuels.
</TABLE>
<TABLE>
<CAPTION>
ANNUAL REPORT OF NORTHEAST UTILITIES SERVICE COMPANY
For the Year Ended December 31, 1995
SCHEDULE VII - STORES EXPENSE UNDISTRIBUTED
INSTRUCTIONS: Report the amount of labor and expenses incurred with respect to stores
expense during the year and indicate amount attributable to each
associate company.
- --------------------------------------------------------------------------------------
DESCRIPTION LABOR EXPENSES TOTAL
- --------------------------------------------------------------------------------------
(Thousands of Dollars)
<S> <C> <C> <C>
ACCOUNT 163 - STORES EXPENSE
UNDISTRIBUTED $2,066 $498 $2,564
The above stores expenses are billed back
to each of the companies listed below:
The Connecticut Light and Power Company (786) (125) (911)
Public Service Company of New Hampshire (164) (23) (187)
Western Massachusetts Electric Company (123) (17) (140)
Holyoke Water Power Company (41) (7) (48)
Northeast Nuclear Energy Company (863) (263) (1,126)
Connecticut Yankee Atomic Power Company -
(nonassociate company)
(89) (63) (152)
------- ------- -------
TOTAL $0 $0 $0
======= ======= =======
</TABLE>
<TABLE>
<CAPTION>
ANNUAL REPORT OF NORTHEAST UTILITIES SERVICE COMPANY
For the Year Ended December 31, 1995
SCHEDULE VIII
MISCELLANEOUS CURRENT AND ACCRUED ASSETS
INSTRUCTIONS: Provide detail of items in this account. Items less than $10,000 may be
grouped, showing the number of items in each group.
- ----------------------------------------------------------------------------------------
BALANCE AT BALANCE AT
BEGINNING CLOSE
DESCRIPTION OF YEAR OF YEAR
- ----------------------------------------------------------------------------------------
(Thousands of Dollars)
<S> <C> <C>
ACCOUNT 174 - MISCELLANEOUS CURRENT AND ACCRUED ASSETS $- $-
----------- ----------
TOTAL $- $-
=========== ==========
</TABLE>
<TABLE>
<CAPTION>
ANNUAL REPORT OF NORTHEAST UTILITIES SERVICE COMPANY
For the Year Ended December 31, 1995
SCHEDULE IX
MISCELLANEOUS DEFERRED DEBITS
INSTRUCTIONS: Provide detail of items in this account. Items less than $10,000 may be
grouped, showing the number of items in each group.
- -----------------------------------------------------------------------------------------
BALANCE AT BALANCE AT
BEGINNING CLOSE
DESCRIPTION OF YEAR OF YEAR
- -----------------------------------------------------------------------------------------
(Thousands of Dollars)
<S> <C> <C>
ACCOUNT 186 - MISCELLANEOUS DEFERRED DEBITS
Unfunded supplemental executive retirement plan $3,319 $3,319
Employees performance payments 176 169
Agents account clearing 948 1,301
MIMS External Development Costs 0 1,579
Deferred receivable from former employees 134 27
Deferred annuity 50 0
Miscellaneous (5 items at beginning and 6 items at end of year) (41) 45
----------- ----------
TOTAL $4,586 $6,440
=========== ==========
</TABLE>
<TABLE>
<CAPTION>
ANNUAL REPORT OF NORTHEAST UTILITIES SERVICE COMPANY
For the Year Ended December 31, 1995
SCHEDULE X
RESEARCH, DEVELOPMENT, OR DEMONSTRATION EXPENDITURES
INSTRUCTIONS: Provide a description of each material research, development, or
demonstration project which incurred costs by the service corporation
during the year.
- ------------------------------------------------------------------------------------
DESCRIPTION AMOUNT
- ------------------------------------------------------------------------------------
(Thousands of Dollars)
<S> <C>
ACCOUNT 188 - RESEARCH, DEVELOPMENT OR
DEMONSTRATION EXPENDITURES
Electric Car Research $80
EPRI Research Dues 941
Electric Injury Trauma 50
Seismic Qualifiers Users Group 25
Advanced Gas Turbine Program 50
EPRI Engineering Services 8
Heat Pump Water Heater Research 42
Nuclear Data Retrieval 14
Control Rod Guide Inspection 15
Failure Prediction Model 160
Flashover Reduction for Insulation 30
Electotechnology Research 150
Failure Prediction Model 40
Gas Turbine Research 50
Flywheel Research 100
Regional Ozone Monitoring 279
Miscellaneous (14 items)
The above expenses are billed back to each of the
associated companies listed below:
The Connecticut Light and Power Company (1,108)
Public Service Company of New Hampshire (355)
Western Massachusetts Electric Company (248)
Holyoke Water Power Company (31)
Northeast Nuclear Energy Company (219)
Connecticut Yankee (73)
-------
TOTAL $0
=======
</TABLE>
<TABLE>
<CAPTION>
ANNUAL REPORT OF NORTHEAST UTILITIES SERVICE COMPANY
For the Year Ended December 31, 1995
SCHEDULE XI
PROPRIETARY CAPITAL
- --------------------------------------------------------------------------------------
NUMBER OF PAR OR STATED OUTSTANDING CLOSE OF PERIOD
ACCOUNT SHARES VALUE ---------------------------
NUMBER CLASS OF STOCK AUTHORIZED PER SHARE NO. OF SHARES TOTAL AMOUNT
- --------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
201 COMMON STOCK ISSUED 5,000 $1.00 1 $1.00
- --------------------------------------------------------------------------------------
INSTRUCTIONS: Classify amounts in each account with brief explanation,
disclosing the general nature of transactions which give
rise to the reported amounts.
- --------------------------------------------------------------------------------
DESCRIPTION AMOUNT
- --------------------------------------------------------------------------------
(Thousands of Dollars)
ACCOUNT 211 - MISCELLANEOUS PAID-IN-CAPITAL $ 1
ACCOUNT 215 - APPROPRIATED RETAINED EARNINGS -
------
TOTAL $ 1
======
- --------------------------------------------------------------------------------
INSTRUCTIONS: Give particulars concerning net income or (loss) during the year,
distinguishing between compensation for the use of capital owed
or net loss remaining from servicing nonassociated per the General
Instructions of the Uniform Systems of Accounts. For dividends
paid during the year in cash or otherwise, provide rate pecentage,
amount of dividend, date declared and date paid.
- ----------------------------------------------------------------------------------------
BALANCE AT NET INCOME BALANCE AT
BEGINNING OR DIVIDENDS CLOSE
DESCRIPTION OF YEAR (LOSS) PAID OF YEAR
- ----------------------------------------------------------------------------------------
ACCOUNT 216-UNAPPROPRIATED RETAINED
EARNINGS $ - $ - $ - $ -
----- ----- ----- -----
TOTAL $ - $ - $ - $ -
===== ===== ===== =====
</TABLE>
<TABLE>
<CAPTION>
ANNUAL REPORT OF NORTHEAST UTILITIES SERVICE COMPANY
For the Year Ended December 31, 1995
SCHEDULE XII
LONG-TERM DEBT
INSTRUCTIONS:Advances from associate companies should be reported separately for advances on notes,
and advances on open account. Names of associate companies from which advances were
received shall be shown under the class and series of obligation column. For Account 224
-- Other long-term debt provide the name of creditor company or organization, terms of
obligation, date of maturity, interest rate, and the amount authorized and outstanding.
- -------------------------------------------------------------------------------------------------------
BALANCE BALANCE
TERMS OF OBLIG. DATE AT AT
CLASS & SERIES OF INTEREST AMOUNT BEGINNING DEDUCTIONS CLOSE
NAME OF CREDITOR OF OBLIGATION MATURITY RATE AUTHORIZED OF YEAR ADDITIONS (1) OF YEAR
- -------------------------------------------------------------------------------------------------------
(Thousands of Dollars)
<S> <C> <C> <C> <C> <C>
ACCOUNT 223-ADVANCES FROM
ASSOCIATE $- $- $- $- $-
COMPANIES:
ACCOUNT 224-OTHER
LONG-TERM
DEBT: - - - - -
----- ----- ----- ----- -----
$- $- $- $- $-
===== ===== ===== ===== =====
</TABLE>
(1) GIVE AN EXPLANATION OF DEDUCTIONS:
<TABLE>
<CAPTION>
ANNUAL REPORT OF NORTHEAST UTILITIES SERVICE COMPANY
For the Year Ended December 31, 1995
SCHEDULE XIII - CURRENT AND ACCRUED LIABILITIES
INSTRUCTIONS: Provide balance of notes and accounts payable to each associate company.
Give description and amount of miscellaneous current and accrued
liabilities. Items less than $10,000 may be grouped, showing the number of
items in each group.
- ------------------------------------------------------------------------------------------
BALANCE AT BALANCE AT
BEGINNING CLOSE
DESCRIPTION OF YEAR OF YEAR
- ------------------------------------------------------------------------------------------
(Thousands of Dollars)
<S> <C> <C>
ACCOUNT 233 - NOTES PAYABLE TO ASSOCIATE COMPANIES
Northeast Utilities $1,975 $9,675
Public Service Company of New Hampshire 35,000 19,100
Western Massachusetts Electric Company 8,750 0
North Atlantic Energy Corporation 28,750 2,500
Northeast Nuclear Energy Company 40,250 27,000
Holyoke Water Power Company 7,000 7,000
----------- ----------
TOTAL $121,725 $65,275
=========== ==========
- ------------------------------------------------------------------------------------------
ACCOUNT 234 - ACCOUNTS PAYABLE TO ASSOCIATE COMPANIES
Northeast Utilities $255 $250
The Connecticut Light and Power Company (55) 451
The Rocky River Realty Company 1,051 962
Public Service Company of New Hampshire 204 346
Western Massachusetts Electric Company 47 161
Northeast Nuclear Energy Company 3,096 880
North Atlantic Energy Service Company 0 109
Holyoke Water Power Company 65 6
----------- ----------
TOTAL $4,663 $3,165
=========== ==========
- ------------------------------------------------------------------------------------------
ACCOUNT 242 - MISCELLANEOUS CURRENT AND ACCRUED LIABILITIES
Pension Cost $25,559 $26,241
Performance Reward Program 7,627 10,377
Payroll Accrual 4,735 4,915
Payroll Deductions 745 849
Early Retirement Program - 588
Interest on Connecticut Sales Tax Settlement 15 15
----------- ----------
TOTAL $38,681 $42,985
=========== ==========
</TABLE>
ANNUAL REPORT OF NORTHEAST UTILITIES SERVICE COMPANY
For the Year Ended December 31, 1995
SCHEDULE XIV
NOTES TO FINANCIAL STATEMENTS
INSTRUCTIONS: The space below is provided for important notes regarding the
financial statements or any account thereof. Furnish
particulars as to any significant contingent assets or
liabilities existing at the end of the year. Notes relating
to financial statements shown elsewhere in this report may be
indicated here by reference.
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
GENERAL
Northeast Utilities Service Company (NUSCO or the company), a wholly owned
subsidiary of Northeast Utilities (NU), supplies centralized accounting,
administrative, data processing, engineering, financial, legal,
operational, planning, purchasing, and other services to the system
companies of NU.
The Connecticut Light and Power Company (CL&P), Public Service Company of
New Hampshire (PSNH), Western Massachusetts Electric Company (WMECO),
Holyoke Water Power Company (HWP), and North Atlantic Energy Corporation
(NAEC) are the operating subsidiaries of the Northeast Utilities system
(the system) and are wholly owned by NU.
PUBLIC UTILITY REGULATION
NU is registered with the Securities and Exchange Commission (SEC) as a
holding company under the Public Utility Holding Company Act of 1935 (the
1935 Act), and it and its subsidiaries, including NUSCO, are subject to
the provisions of the 1935 Act.
DEPRECIATION
The provision for depreciation is calculated using the straight-line
method based on estimated remaining lives of depreciable utility
plant-in-service, adjusted for salvage value and removal costs as approved
by the appropriate regulatory agency. Depreciation factors are applied to
the average plant-in-service during the period. The depreciation rates
for the several classes of plant-in-service are equivalent to a composite
rate of 6.0 percent in 1995 and 4.2 percent in 1994. When plant is
retired from service, the original cost of the plant, including costs of
removal, less salvage is charged to the accumulated provision for
depreciation.
2. LEASES
NUSCO has entered into lease agreements for the use of data processing,
office equipment, vehicles, and office space. The provisions of these
lease agreements generally provide for renewal options. For the purposes
of this report, all leases are accounted for as operating leases. At
December 31, 1995, assuming those leases which would have been classified
as capital leases were capitalized at the beginning of the lease terms,
assets would have increased by approximately $760,000, current liabilities
would have increased by approximately $539,000, and long-term obligations
would have increased by $221,000. There is no effect on NUSCO's results
of operations.
Rental payments charged to operating expenses for 1995 and 1994 amounted
to approximately $936,163 and $1,327,000, respectively, for capital
leases and $17,122,000 and $16,642,000, respectively, for operating
leases.
Interest included in capital lease rental payments for 1995 and 1994 was
approximately $84,600 and $110,000, respectively.
Future minimum rental payments, under long-term noncancelable leases as of
December 31, 1995, excluding executory costs such as property taxes, state
use taxes, insurance, and maintenance are approximately:
Period Capital Leases Operating Leases
------ --------------- ----------------
(Thousands of Dollars)
1996................... $602 $ 12,942
1997................... 386 12,293
1998................... 103 6,365
1999................... 0 5,801
2000................... 0 5,761
After 2000............. 0 67,390
-------- ---------
Future minimum lease payments 1,091 $110,552
========
Less amount representing interest 331
-------
Present value of future minimum
lease payments....... $ 760
======
3. SHORT-TERM DEBT
Certain subsidiaries of NU are members of the Northeast Utilities System
Money Pool (Pool). The Pool provides a more efficient use of the cash
resources of the system, and reduces outside short-term borrowings. NUSCO
is not permitted to borrow from the Pool but administers the Pool as agent
for the member companies. Short-term borrowing needs of the member
companies are first met with available funds of other member companies,
including funds borrowed by NU parent. NU parent may lend to the Pool but
may not borrow. Funds may be withdrawn from or repaid to the Pool at any
time without prior notice. However, borrowings based on loans from NU
parent bear interest at NU parent's cost and must be repaid based upon the
terms of NU parent's original borrowing. Investing and borrowing
subsidiaries receive or pay interest based on the average daily Federal
Funds rate.
4. PENSION BENEFITS
The company participates in a uniform noncontributory-defined benefit
retirement plan covering all regular system employees (the plan).
Benefits are based on years of service and employees' highest eligible
compensation during five years of employment. The company's direct
portion of the system's pension cost approximated $0.7 million in 1995
and $(0.3) in 1994.
Currently, NUSCO funds annually an amount at least equal to that which
will satisfy the requirements of the Employee Retirement Income Security
Act and the Internal Revenue Code. Pension costs are determined using
market-related values of pension assets. Pension assets are invested
primarily in domestic and international equity securities and bonds.
For the Years Ended December 31, 1995 1994
--------------------------------------------------------------------------
(Thousands of Dollars)
Service cost............................ $10,658 $ 9,598
Interest cost........................... 22,879 20,726
Return on plan assets................... (80,726) 581
Net amortization........................ 47,870 (31,168)
------- -------
$ 681 $ (263)
======== ========
For calculating pension cost, the following assumptions were used:
For the Years Ended December 31, 1995 1994
--------------------------------------------------------------------------
Discount rate........................... 8.25% 7.75%
Expected long-term rate of return....... 8.50 8.50
Compensation/progression rate........... 5.00 4.75
The following table represents the plan's funded status reconciled to the
Balance Sheets:
At December 31, 1995 1994
----------------------------------------------------------------------
(Thousands of Dollars)
Accumulated benefit obligation at December 31, 1995
and 1994, includes $226,181,000 and $195,387,000,
respectively, of vested benefits ..... $248,712 $214,952
======== ========
Projected benefit obligation (PBO)...... 330,552 275,560
Market value of plan assets............. 390,877 325,171
-------- --------
Market value in excess of PBO........... 60,325 49,611
Unrecognized transition amount.......... (6,530) (7,136)
Unrecognized prior service costs........ 177 208
Unrecognized net gain................... (80,213) (68,242)
-------- --------
Accrued pension liability............... $(26,241) $(25,559)
======== ========
The following actuarial assumptions were used in calculating the plan's
year-end funded status:
At December 31, 1995 1994
----------------------------------------------------------------------
Discount rate........................... 7.50% 8.25%
Compensation/progression rate........... 4.75 5.00
5. POSTRETIREMENT BENEFITS OTHER THAN PENSIONS
The company provides certain health care benefits, primarily medical and
dental, and life insurance benefits through a benefit plan to retired
employees (referred to as of Statement of Financial Accounting Standards
(SFAS) 106 benefits). These benefits are available for employees leaving
the system who have met specified service requirements. Total SFAS 106
benefits, part of which was deferred or charged to plant, approximated
$7.9 million in 1995 and $8.7 million in 1994.
On January 1, 1993, the accumulated postretirement benefit obligation
(APBO) represented the system's transition obligation upon the adoption of
SFAS 106. As allowed by SFAS 106, the company is amortizing its
transition obligation of approximately $52 million over a 20-year period.
For current employees and certain retirees, the total SFAS 106 benefit is
limited to two times the 1993 per retiree health care costs. The SFAS 106
obligation has been calculated based on this assumption.
During 1993, the company began funding SFAS 106 postretirement costs
through external trusts. The company is funding annually amounts equal to
the SFAS 106 costs for the year which also are tax-deductible under the
Internal Revenue Code. The trust assets are invested primarily in equity
securities and bonds.
The components of SFAS 106 benefit costs are:
For the Years Ended December 31, 1995 1994
-------------------------------------------------------------------------
(Thousands of Dollars)
Service cost............................ $1,822 $ 1,860
Interest cost........................... 4,639 4,761
Return on plan assets................... (2,760) 103
Amortization of transition obligation... 2,533 2,533
Other amortization, net................. 1,710 (587)
------ -------
Net health care and life insurance costs $7,944 $8,670
====== ======
For calculating SFAS 106 benefit costs, the following assumptions were
used:
For the Years Ended December 31, 1995 1994
-------------------------------------------------------------------------
Discount rate........................... 8.00% 7.75%
Long-term rate of return -
Health assets, net of tax............. 5.00 5.00
Life assets........................... 8.50 8.50
The following table represents the plan's funded status reconciled to the
Balance Sheets:
At December 31, 1995 1994
----------------------------------------------------------------------
(Thousands of Dollars)
APBO:
Retirees.............................. $43,157 $43,301
Fully eligible active employees....... 74 29
Active employees not eligible to retire 20,810 16,824
-------- --------
Total APBO.............................. 64,041 60,154
Less: Market value of plan assets...... 17,796 11,577
------- -------
APBO in excess of plan assets........... (46,245) (48,577)
Unrecognized transition amount.......... 43,061 45,594
Unrecognized net loss (gain)............ 3,184 3,661
------- -------
Prepaid (accrued) postretirement benefit costs $ 0 $ 678
========= ========
The following actuarial assumptions were used in calculating the plan's
year-end funded status:
At December 31, 1995 1994
--------------------------------------------------------------------
Discount rate........................... 7.50% 8.00%
Health care cost trend rate (a)......... 8.40 10.20
(a)The annual growth in per capita cost of covered health care benefits
was assumed to decrease to 5.4 percent by 2001.
The effect of increasing the assumed health care cost trend rates by one
percentage point in each year would increase the APBO as of December 31,
1995 by approximately $2.9 million and the aggregate of the service and
interest cost components of net periodic postretirement benefit cost for
the year then ended by $283,000. The trust holding the plan assets is
subject to federal income taxes at a 35 percent tax rate.
6. COMMITMENTS AND CONTINGENCIES
CONSTRUCTION PROGRAM
The construction program is subject to periodic review and revision.
NUSCO currently forecasts construction expenditures of approximately $22.8
million for the years 1996-2000, including approximately $18.6 million for
1996.
7. ELECTRIC POWER BROKERING, MARKETING, OR OTHER EXPENSES OR ACTIVITIES
Pursuant to the requirements of Rule 24 under the 1935 Act, NUSCO files
this annual report as required by the SEC's order authorizing certain
electric power brokering, marketing and other activities (HCAR Rules No.
26359, August 18, 1995, File No. 70-8641). For the period of August 18,
1995 (the initial authorization date) through December 31, 1995, there
were no electric power brokering, marketing or other expenses or
activities for NUSCO.
<TABLE>
<CAPTION>
ANNUAL REPORT OF NORTHEAST UTILITIES SERVICE COMPANY
FOR THE YEAR ENDED DECEMBER 31, 1995
SCHEDULE XV
COMPARATIVE INCOME STATEMENT
- --------------------------------------------------------------------------------------
ACCOUNT DESCRIPTION 1995 1994
- --------------------------------------------------------------------------------------
(Thousands of Dollars)
<S> <C> <C>
INCOME
------
457 Services rendered to associate companies $285,696 $252,805
458 Services rendered to nonassociate companies 43,422 46,277
421 Miscellaneous income or loss 132 20
------------ -----------
Total Income 329,250 299,102
------------ -----------
EXPENSE
-------
920 Salaries and wages 156,140 142,037
921 Office supplies and expenses 38,923 32,090
922 Administrative expense transferred-credit - -
923 Outside services employed 50,718 45,848
924 Property insurance 58 40
925 Injuries and damages 577 617
926 Employee pensions and benefits 29,336 27,513
928 Regulatory commission expense 37 5
930.1 General advertising expenses - -
930.2 Miscellaneous general expenses 5,701 6,244
931 Rents 25,637 25,461
932 Maintenance of structures and equipment 1,890 1,451
403 Depreciation and amortization expense 5,251 2,635
408 Taxes other than income taxes 11,169 10,875
409 Income taxes (259) 668
410 Provision for deferred income taxes 1,216 2,175
411 Provision for deferred income taxes-credit (957) (2,843)
411.5 Investment tax credit - -
426.1 Donations 524 440
426.5 Other deductions 3,307 3,777
427 Interest on long-term debt - -
430 Interest on debt to associate companies - -
431 Other interest expense (18) 69
------------ -----------
Total Expense 329,250 299,102
------------ -----------
Net Income or (Loss) $0 $0
============ ===========
</TABLE>
<TABLE>
<CAPTION>
ANNUAL REPORT OF NORTHEAST UTILITIES SERVICE COMPANY
For the Year Ended December 31, 1995
ANALYSIS OF BILLING
ASSOCIATE COMPANIES
ACCOUNT 457
- ------------------------------------------------------------------------------
DIRECT INDIRECT COMPENSATION TOTAL
COSTS COSTS FOR USE AMOUNT
NAME OF ASSOCIATE COMPANY CHARGED CHARGED OF CAPITAL BILLED
- ------------------------------------------------------------------------------
(Thousands of Dollars)
457-1 457-2 457-3
---------------------------------------------
<S> <C> <C> <C> <C>
Northeast Utilities $9,874 $26 $- $9,900
The Connecticut Light and
Power Company 119,924 10,619 - 130,543
Public Service Company of New
Hampshire 26,140 2,228 - 28,368
North Atlantic Energy
Corporation 173 13 - 186
Western Massachusetts
Electric Company 27,500 2,368 - 29,868
Holyoke Water Power Company 3,820 328 - 4,148
Holyoke Power and Electric
Company 5 - - 5
Northeast Nuclear Energy Company 70,354 6,834 - 77,188
North Atlantic Energy Service
Corporation 2,801 156 - 2,957
The Quinnehtuk Company 34 3 - 37
The Rocky River Realty Company 302 17 - 319
Properties Inc. 1 - - 1
Charter Oak Energy Incorporated 706 33 - 739
COE Development Corporation 1,215 125 - 1,340
COE (UK) Corporation 17 1 - 18
HEC Inc. 78 1 - 79
---------- ---------- ----------- ----------
TOTAL $262,944 $22,752 $- $285,696
========== ========== =========== ==========
</TABLE>
<TABLE>
<CAPTION>
ANNUAL REPORT OF NORTHEAST UTILITIES SERVICE COMPANY
For the Year Ended December 31, 1995
ANALYSIS OF BILLING
NONASSOCIATE COMPANIES
ACCOUNT 458
- -------------------------------------------------------------------------------------------------
DIRECT INDIRECT COMPENSATION EXCESS TOTAL
COSTS COSTS FOR USE TOTAL OR AMOUNT
NAME OF NONASSOCIATE COMPANY CHARGED CHARGED OF CAPITAL COSTS DEFICIENCY BILLED
- -------------------------------------------------------------------------------------------------
(Thousands of Dollars)
458-1 458-2 458-3 458-4
------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Connecticut Yankee Atomic
Power Company $ 21,189 $ 2,267 $ - $ 23,456 $ - $ 23,456
Connecticut Valley Electric
Exchange 5,320 (97) - 5,223 5,223
New England Power Exchange 9,497 81 - 9,578 9,578
New England Power Planning
Committee 3,611 25 - 3,636 3,636
New England Power Pool 1,537 (8) - 1,529 1,529
------------------------------------------------------------
TOTAL $ 41,154 $ 2,268 $ - $ 43,422 $ - $ 43,422
============================================================
</TABLE>
INSTRUCTIONS: Provide a brief description of the services rendered to each
nonassociate company:
Northeast Utilities Service Company supplies centralized accounting,
administrative, data processing, engineering, financial, legal,
operational, planning, purchasing and/or other services.
<TABLE>
<CAPTION>
ANNUAL REPORT OF NORTHEAST UTILITIES SERVICE COMPANY
For the Year Ended December 31, 1995
SCHEDULE XVI
ANALYSIS OF CHARGES FOR SERVICE
ASSOCIATE AND NONASSOCIATE COMPANIES
- -----------------------------------------------------------------------------------------------------
ASSOCIATE COMPANY CHARGES NONASSOCIATE COMPANY CHARGES
------------------------------------------------------
ACCOUNT DIRECT INDIRECT DIRECT INDIRECT
NUMBER DESCRIPTION OF ITEMS COST COST TOTAL COST COST TOTAL
- -----------------------------------------------------------------------------------------------------
(Thousands of Dollars)
<S> <C> <C> <C> <C> <C> <C>
920 SALARIES AND WAGES 132,219 2,254 134,473 21,362 305 21,667
921 OFFICE SUPPLIES AND EXPENSES 28,326 6,912 35,238 3,129 556 3,685
922 ADMINISTRATIVE EXPENSE TRANSFERRED-
CREDIT 0 0 0 0 0 0
923 OUTSIDE SERVICES EMPLOYED 44,090 587 44,677 5,971 70 6,041
924 PROPERTY INSURANCE 0 52 52 0 6 6
925 INJURIES AND DAMAGES 510 0 510 67 0 67
926 EMPLOYEE PENSIONS AND BENEFITS 25,489 0 25,489 3,847 0 3,847
928 REGULATORY COMMISSION EXPENSE 37 (2) 35 2 0 2
930.1 GENERAL ADVERTISING EXPENSES 0 0 0 0 0 0
930.2 MISCELLANEOUS GENERAL EXPENSES 5,216 10 5,226 457 18 475
931 RENTS 13,673 7,003 20,676 4,263 698 4,961
932 MAINTENANCE OF STRUCTURES AND EQUIPMENT 363 1,217 1,580 171 139 310
403 DEPRECIATION AND AMORTIZATION EXPENSE 0 4,770 4,770 0 481 481
408 TAXES OTHER THAN INCOME TAXES 9,538 0 9,538 1,631 0 1,631
409 INCOME TAXES (259) 0 (259) 0 0 0
410 PROVISION FOR DEFERRED INCOME TAXES 1,216 0 1,216 0 0 0
411 PROVISION FOR DEFERRED INCOME TAXES -
CREDIT (957) 0 (957) 0 0 0
411.5 INVESTMENT TAX CREDIT 0 0 0 0 0 0
426.1 DONATIONS 516 0 516 8 0 8
426.5 OTHER DEDUCTIONS 3,059 0 3,059 248 0 248
427 INTEREST ON LONG-TERM DEBT 0 0 0 0 0 0
431 OTHER INTEREST EXPENSE (17) 0 (17) (1) 0 (1)
------------------------------------------------------
SUBTOTAL EXPENSES = 263,019 22,803 285,822 41,155 2,273 43,428
COMPENSATION FOR USE OF EQUITY CAPITAL=
430 INTEREST ON DEBT TO ASSOCIATE COMPANIES= 0 0
431 OTHER INTEREST EXPENSE= 0 0
---------- -----------
TOTAL EXPENSES = 285,822 43,428
421 MISCELLANEOUS INCOME - CREDIT (75) (51) (126) (1) (5) (6)
------------------------------------------------------
TOTAL COST OF SERVICE = 262,944 22,752 285,696 41,154 2,268 43,422
======================================================
</TABLE>
INSTRUCTION: Total cost of service will equal for associate and
nonassociate companies the total amount billed under
their separate analysis of billing schedules.
<TABLE>
<CAPTION>
- --------------------------------------------------------------------------------
TOTAL CHARGES FOR SERVICE
---------------------------------
ACCOUNT DIRECT INDIRECT
NUMBER DESCRIPTION OF ITEMS COST COST TOTAL
- --------------------------------------------------------------------------------
(Thousands of Dollars)
<S> <C> <C> <C>
920 SALARIES AND WAGES 153,581 2,559 156,140
921 OFFICE SUPPLIES AND EXPENSES 31,455 7,468 38,923
922 ADMINISTRATIVE EXPENSE TRANSFERRED-
CREDIT 0 0 0
923 OUTSIDE SERVICES EMPLOYED 50,061 657 50,718
924 PROPERTY INSURANCE 0 58 58
925 INJURIES AND DAMAGES 577 0 577
926 EMPLOYEE PENSIONS AND BENEFITS 29,336 0 29,336
928 REGULATORY COMMISSION EXPENSE 39 (2) 37
930.1 GENERAL ADVERTISING EXPENSES 0 0 0
930.2 MISCELLANEOUS GENERAL EXPENSES 5,673 28 5,701
931 RENTS 17,936 7,701 25,637
932 MAINTENANCE OF STRUCTURES AND EQUIPMENT 534 1,356 1,890
403 DEPRECIATION AND AMORTIZATION EXPENSE 0 5,251 5,251
408 TAXES OTHER THAN INCOME TAXES 11,169 0 11,169
409 INCOME TAXES (259) 0 (259)
410 PROVISION FOR DEFERRED INCOME TAXES 1,216 0 1,216
411 PROVISION FOR DEFERRED INCOME TAXES -
CREDIT (957) 0 (957)
411.5 INVESTMENT TAX CREDIT 0 0 0
426.1 DONATIONS 524 0 524
426.5 OTHER DEDUCTIONS 3,307 0 3,307
427 INTEREST ON LONG-TERM DEBT 0 0 0
431 OTHER INTEREST EXPENSE (18) 0 (18)
---------------------------------
SUBTOTAL EXPENSES = 304,174 25,076 329,250
COMPENSATION FOR USE OF EQUITY CAPITAL=
430 INTEREST ON DEBT TO ASSOCIATE COMPANIES= 0
431 OTHER INTEREST EXPENSE= 0
-----------
TOTAL EXPENSES = 329,250
421 MISCELLANEOUS INCOME - CREDIT (76) (56) (132)
---------------------------------
TOTAL COST OF SERVICE = 304,098 25,020 329,118
=================================
</TABLE>
INSTRUCTION: Total cost of service will equal for associate and
nonassociate companies the total amount billed under
their separate analysis of billing schedules.
<TABLE>
<CAPTION>
ANNUAL REPORT OF NORTHEAST UTILITIES SERVICE COMPANY
For the Year Ended December 31, 1995
SCHEDULE XVII
SCHEDULE OF EXPENSE DISTRIBUTION BY
DEPARTMENT OR SERVICE FUNCTION
- ----------------------------------------------------------------------------------------------------
DEPARTMENT OR SERVICE FUNCTION
ACCOUNT TOTAL --------------------------------
NUMBER DESCRIPTION OF ITEMS AMOUNT OVERHEAD (1) (2) (3) (4)
- ----------------------------------------------------------------------------------------------------
(Thousands of Dollars)
<S> <C> <C> <C> <C> <C> <C>
920 SALARIES AND WAGES 156,140 2,559 969 1,580 34,721 6,399
921 OFFICE SUPPLIES AND EXPENSES 38,923 7,468 93 138 3,180 1,251
922 ADMINISTRATIVE EXPENSE TRANSFERRED-CREDIT 0 0 0 0 0 0
923 OUTSIDE SERVICES EMPLOYED 50,718 657 53 75 9,464 336
924 PROPERTY INSURANCE 58 58 0 0 0 0
925 INJURIES AND DAMAGES 577 0 0 0 0 0
926 EMPLOYEE PENSIONS AND BENEFITS 29,336 0 1,619 0 56 5
928 REGULATORY COMMISSION EXPENSE 37 (2) 0 0 37 0
930.1 GENERAL ADVERTISING EXPENSES 0 0 0 0 0 0
930.2 MISCELLANEOUS GENERAL EXPENSES 5,701 28 52 (1) 12 1
931 RENTS 25,637 7,701 0 0 472 24
932 MAINTENANCE OF STRUCTURES AND EQUIPMENT 1,890 1,356 0 0 11 1
403 DEPRECIATION AND AMORTIZATION EXPENSE 5,251 5,251 0 0 0 0
408 TAXES OTHER THAN INCOME TAXES 11,169 0 0 0 0 0
409 INCOME TAXES (259) 0 0 0 0 0
410 PROVISION FOR DEFERRED INCOME TAXES 1,216 0 0 0 0 0
411 PROVISION FOR DEFERRED INCOME TAXES - CREDIT (957) 0 0 0 0 0
411.5 INVESTMENT TAX CREDIT 0 0 0 0 0 0
426.1 DONATIONS 524 0 3 0 0 0
426.5 OTHER DEDUCTIONS 3,307 0 1,531 0 0 5
427 INTEREST ON LONG-TERM DEBT 0 0 0 0 0 0
430 INTEREST ON DEBT TO ASSOCIATE COMPANIES 0 0 0 0 0 0
431 OTHER INTEREST EXPENSE (18) 0 0 0 0 0
------------------------------------------------
TOTAL EXPENSES = 329,250 25,076 4,320 1,792 47,953 8,022
================================================
</TABLE>
INSTRUCTIONS: Indicate each department or service function.
(See Instruction 01-3 General Structure of
Accounting System: Uniform System of Accounts)
See page 25 for explanation of above service functions.
<TABLE>
<CAPTION>
ANNUAL REPORT OF NORTHEAST UTILITIES SERVICE COMPANY
For the Year Ended December 31, 1995
SCHEDULE XVII
SCHEDULE OF EXPENSE DISTRIBUTION BY
DEPARTMENT OR SERVICE FUNCTION
- ----------------------------------------------------------------------------------------------------
DEPARTMENT OR SERVICE FUNCTION
ACCOUNT ------------------------------------------------
NUMBER DESCRIPTION OF ITEMS (5) (6) (7) (8) (9) (10)
- ----------------------------------------------------------------------------------------------------
(Thousands of Dollars)
<S> <C> <C> <C> <C> <C> <C>
920 SALARIES AND WAGES 10,385 4,011 4,640 3,991 15,817 5,446
921 OFFICE SUPPLIES AND EXPENSES 250 767 3,472 50 1,893 3,401
922 ADMINISTRATIVE EXPENSE TRANSFERRED-CREDIT 0 0 0 0 0 0
923 OUTSIDE SERVICES EMPLOYED 20 497 581 1,588 1,047 6,187
924 PROPERTY INSURANCE 0 0 0 0 0 0
925 INJURIES AND DAMAGES 0 0 0 0 0 0
926 EMPLOYEE PENSIONS AND BENEFITS 0 409 0 0 3 0
928 REGULATORY COMMISSION EXPENSE 0 0 0 0 0 0
930.1 GENERAL ADVERTISING EXPENSES 0 0 0 0 0 0
930.2 MISCELLANEOUS GENERAL EXPENSES (55) 121 454 4 204 1,853
931 RENTS 12 0 0 0 1,742 0
932 MAINTENANCE OF STRUCTURES AND EQUIPMENT 0 0 0 0 39 2
403 DEPRECIATION AND AMORTIZATION EXPENSE 0 0 0 0 0 0
408 TAXES OTHER THAN INCOME TAXES 0 0 0 0 0 0
409 INCOME TAXES 0 0 0 0 0 0
410 PROVISION FOR DEFERRED INCOME TAXES 0 0 0 0 0 0
411 PROVISION FOR DEFERRED INCOME TAXES - CREDIT 0 0 0 0 0 0
411.5 INVESTMENT TAX CREDIT 0 0 0 0 0 0
426.1 DONATIONS 0 0 0 16 6 1
426.5 OTHER DEDUCTIONS 0 1 0 119 0 24
427 INTEREST ON LONG-TERM DEBT 0 0 0 0 0 0
430 INTEREST ON DEBT TO ASSOCIATE COMPANIES 0 0 0 0 0 0
431 OTHER INTEREST EXPENSE 0 0 0 0 0 0
------------------------------------------------
TOTAL EXPENSES = 10,612 5,806 9,147 5,768 20,751 16,914
================================================
</TABLE>
INSTRUCTIONS: Indicate each department or service function.
(See Instruction 01-3 General Structure of
Accounting System: Uniform System of Accounts)
See page 25 for explanation of above service
functions.
<TABLE>
<CAPTION>
ANNUAL REPORT OF NORTHEAST UTILITIES SERVICE COMPANY
For the Year Ended December 31, 1995
SCHEDULE XVII
SCHEDULE OF EXPENSE DISTRIBUTION BY
DEPARTMENT OR SERVICE FUNCTION
- ----------------------------------------------------------------------------------------------------
DEPARTMENT OR SERVICE FUNCTION
ACCOUNT ------------------------------------------------
NUMBER DESCRIPTION OF ITEMS (11) (12) (13) (14) (15) (16)
- ----------------------------------------------------------------------------------------------------
(Thousands of Dollars)
<S> <C> <C> <C> <C> <C> <C>
920 SALARIES AND WAGES 15,288 3,113 1,395 17,934 5,084 5,438
921 OFFICE SUPPLIES AND EXPENSES 1,725 13 179 5,828 861 543
922 ADMINISTRATIVE EXPENSE TRANSFERRED-CREDIT 0 0 0 0 0 0
923 OUTSIDE SERVICES EMPLOYED 4,775 140 471 3,620 275 2,059
924 PROPERTY INSURANCE 0 0 0 0 0 0
925 INJURIES AND DAMAGES 30 0 0 0 0 35
926 EMPLOYEE PENSIONS AND BENEFITS 0 0 116 5 0 24,930
928 REGULATORY COMMISSION EXPENSE 0 0 0 0 0 0
930.1 GENERAL ADVERTISING EXPENSES 0 0 0 0 0 0
930.2 MISCELLANEOUS GENERAL EXPENSES 17 89 547 1,254 30 549
931 RENTS 2 0 0 13,402 259 155
932 MAINTENANCE OF STRUCTURES AND EQUIPMENT 194 0 0 0 27 0
403 DEPRECIATION AND AMORTIZATION EXPENSE 0 0 0 0 0 0
408 TAXES OTHER THAN INCOME TAXES 0 0 0 0 0 0
409 INCOME TAXES 0 0 0 0 0 0
410 PROVISION FOR DEFERRED INCOME TAXES 0 0 0 0 0 0
411 PROVISION FOR DEFERRED INCOME TAXES - CREDIT 0 0 0 0 0 0
411.5 INVESTMENT TAX CREDIT 0 0 0 0 0 0
426.1 DONATIONS 494 0 0 0 0 0
426.5 OTHER DEDUCTIONS 85 0 67 0 0 0
427 INTEREST ON LONG-TERM DEBT 0 0 0 0 0 0
430 INTEREST ON DEBT TO ASSOCIATE COMPANIES 0 0 0 0 0 0
431 OTHER INTEREST EXPENSE 0 0 0 0 0 0
------------------------------------------------
TOTAL EXPENSES = 22,610 3,355 2,775 42,043 6,536 33,709
================================================
</TABLE>
INSTRUCTIONS: Indicate each department or service function.
(See Instruction 01-3 General Structure of
Accounting System: Uniform System of Accounts)
See page 25 for explanation of above service
functions.
<TABLE>
<CAPTION>
ANNUAL REPORT OF NORTHEAST UTILITIES SERVICE COMPANY
For the Year Ended December 31, 1995
SCHEDULE XVII
SCHEDULE OF EXPENSE DISTRIBUTION BY
DEPARTMENT OR SERVICE FUNCTION
- ----------------------------------------------------------------------------------------------------
DEPARTMENT OR SERVICE FUNCTION
ACCOUNT ------------------------------------------------
NUMBER DESCRIPTION OF ITEMS (17) (18) (19) (20) (21) (22)
- ----------------------------------------------------------------------------------------------------
(Thousands of Dollars)
<S> <C> <C> <C> <C> <C> <C>
920 SALARIES AND WAGES 1,689 471 3,146 4,076 7,328 660
921 OFFICE SUPPLIES AND EXPENSES 111 118 329 488 841 5,924
922 ADMINISTRATIVE EXPENSE TRANSFERRED-CREDIT 0 0 0 0 0 0
923 OUTSIDE SERVICES EMPLOYED (85) 33 2,089 143 2,392 14,301
924 PROPERTY INSURANCE 0 0 0 0 0 0
925 INJURIES AND DAMAGES 0 0 494 0 18 0
926 EMPLOYEE PENSIONS AND BENEFITS 0 0 0 0 0 2,193
928 REGULATORY COMMISSION EXPENSE 0 0 2 0 0 0
930.1 GENERAL ADVERTISING EXPENSES 0 0 0 0 0 0
930.2 MISCELLANEOUS GENERAL EXPENSES 0 12 454 77 (6) 5
931 RENTS 0 2 0 0 1,866 0
932 MAINTENANCE OF STRUCTURES AND EQUIPMENT 0 0 0 105 155 0
403 DEPRECIATION AND AMORTIZATION EXPENSE 0 0 0 0 0 0
408 TAXES OTHER THAN INCOME TAXES 0 0 0 0 0 11,169
409 INCOME TAXES 0 0 0 0 0 (259)
410 PROVISION FOR DEFERRED INCOME TAXES 0 0 0 0 0 1,216
411 PROVISION FOR DEFERRED INCOME TAXES - CREDIT 0 0 0 0 0 (957)
411.5 INVESTMENT TAX CREDIT 0 0 0 0 0 0
426.1 DONATIONS 0 4 0 0 0 0
426.5 OTHER DEDUCTIONS 0 1,338 0 137 0 0
427 INTEREST ON LONG-TERM DEBT 0 0 0 0 0 0
430 INTEREST ON DEBT TO ASSOCIATE COMPANIES 0 0 0 0 0 0
431 OTHER INTEREST EXPENSE 0 0 0 0 0 (18)
------------------------------------------------
TOTAL EXPENSES = 1,715 1,978 6,514 5,026 12,594 34,234
================================================
</TABLE>
INSTRUCTIONS: Indicate each department or service function.
(See Instruction 01-3 General Structure of
Accounting System: Uniform System of Accounts)
See page 25 for explanation of above service
functions.
ANNUAL REPORT OF NORTHEAST UTILITIES SERVICE COMPANY
For the Year Ended December 31, 1995
SCHEDULE XVII
-------------
KEYS FOR SERVICE FUNCTIONS
--------------------------
KEYS SERVICE FUNCTION
---- ----------------
(1) Chairman, President and Chief Executive Officer
(2) President-Energy Resources Group and Chief Financial Officer
(3) Executive V.P. - Nuclear
(4) V.P. Fossil and Hydro Engineering and Operations
(5) V.P. and Controller
(6) V.P. and Treasurer
(7) V.P. - Wholesale Marketing
(8) President - Retail Business Group
(9) V.P. - Transmission and Distribution
(10) V.P. - Retail Marketing
(11) Director - Customer Service
(12) Senior V.P. and Chief Administrative Officer
(13) V.P. - Corporate Communication
(14) V.P. and Chief Information Officer
(15) V.P. - Purchasing and General Services
(16) V.P. - Human Resources
(17) Director - Internal Audit and Security
(18) Senior V.P. - Governmental Affairs
(19) V.P. - Secretary and General Counsel
(20) V.P. - Corporate and Environmental Affairs
(21) New England Power Pool
(22) Corporate Expenses - unallocated
<TABLE>
<CAPTION>
ANNUAL REPORT OF NORTHEAST UTILITIES SERVICE COMPANY
For the Year Ended December 31, 1995
DEPARTMENTAL ANALYSIS OF SALARIES
---------------------------------
ACCOUNT 920
DEPARTMENTAL SALARY EXPENSE
NAME OF DEPARTMENT INCLUDED IN AMOUNTS BILLED TO NUMBER OF
- ------------------ -------------------------------------- PERSONNEL
Indicate each dept. TOTAL PARENT OTHER NON END
or service function. AMOUNT COMPANY ASSOCIATES ASSOCIATES OF YEAR
- -------------------- -------------------------------------- ---------
(Thousands of Dollars)
<S> <C> <C> <C> <C> <C>
Chairman, President and Chief
Executive Officer $969 $45 $858 $66 3
President- Energy Resources Group
and Chief Financial Officer 1,580 16 1,515 49 15
Executive V.P. - Nuclear 34,721 0 26,412 8,309 512
V.P. Fossil and Hydro Engineering
and Operations 6,399 0 6,389 10 78
V.P. and Controller 10,385 2 10,040 343 195
V.P. and Treasurer 4,011 23 3,840 148 82
V.P. - Wholesale Marketing 4,640 0 4,633 7 69
President - Retail Business Group 3,991 5 3,983 3 3
V.P. - Transmission and Distribution 15,817 1 13,558 2,258 271
V.P. - Retail Marketing 5,446 37 5,406 3 112
Director - Customer Service 15,288 0 15,280 8 355
Senior V.P. and Chief Administrative
Officer 3,113 0 2,939 174 3
V.P. - Corporate Communication 1,395 0 1,210 185 28
V.P. and Chief Information Officer (1) 17,937 0 16,589 1,348 292
V.P. Purchasing and General
Services (2) 7,517 3 7,070 444 151
V.P. - Human Resources (3) 5,551 0 5,161 390 92
Director - Internal Audit and Security 1,689 12 1,504 173 28
Senior V.P.- Governmental Affairs 471 0 434 37 6
V.P., Secretary and
General Counsel (4) 3,156 202 2,833 121 50
V.P. - Corporate and Environmental
Affairs 4,076 0 3,941 135 60
New England Power Pool 7,328 0 24 7,304 113
Corporate Expenses - unallocated 660 3 505 152 0
-------------------------------------- ---------
$156,140 $349 $134,124 $21,667 2,518
====================================== =========
(1) Total amount includes $3,000 of payroll overhead.
(2) Total amount includes $2,433,000 of payroll overhead.
(3) Total amount includes $113,000 of payroll overhead.
(4) Total amount includes $10,000 of payroll overhead.
</TABLE>
ANNUAL REPORT OF NORTHEAST UTILITIES SERVICE COMPANY
For the Year Ended December 31, 1995
OUTSIDE SERVICES EMPLOYED
ACCOUNT 923
<TABLE>
<CAPTION>
INSTRUCTIONS: Provide a breakdown by subaccount of outside services employed. If the
aggregate amounts paid to any one payee and included within one subaccount
is less than $25,000, only the aggregate number and amount of all
such payments included within the subaccount need be shown. Provide a
subtotal for each type of service.
- ------------------------------------------------------------------------------------------
RELATIONSHIP
"A"-ASSOCIATE
"NA"-NON
FROM WHOM PURCHASED ASSOCIATE AMOUNT
- ------------------------------------------------------------------------------------------
(Thousands
of Dollars)
<S> <C>
AUDITING SERVICES
- -----------------
KPMG PEAT MARWICK NA 205
ARTHUR ANDERSEN LLP NA 189
-----------
TOTAL AUDITING SERVICES 394
===========
ENGINEERING SERVICES
- --------------------
ABB COMBUSTION ENGINEERING NA 152
APPLIED ENERGY GROUP INC NA 67
B & W NUCLEAR SERVICE COMPANY NA 85
BARTLETT NUCLEAR INCORPORATED NA 58
ELECTRIC POWER RESEARCH INSTITUTE NA 606
ERIN ENGINEERING AND RESEARCH INC NA 53
GENERAL ELECTRIC COMPANY NA 187
GIUFFRIDA ENGINEERING ASSOCIATES NA 58
KALSI ENGINEERING INCORPORATED NA 112
NUCLEAR ENERGY SERVICES NA 140
NUCLEAR SAFETY REVIEW CONCEPTS CORP NA 151
NUCON ENGINEERING ASSOC NA 72
NUS CORPORATION NA 102
PROTO POWER CORPORATION NA 292
RAYTHEON ENGINEERS & CONSTRUCTORS INC NA 582
REID ENGINEERING SERVICES NA 26
RENSSELAER POLYTECHNIC INSTITUTE NA 90
SARGENT & LUNDY ENGINEERS NA 60
STONE & WEBSTER ENGINEERING CORP NA 34
TECHNICAL AID CORPORATION NA 633
TECHNOLOGY RESEARCH CORPORATION NA 52
WESTINGHOUSE ELECTRIC CORPORATION NA 150
WOODS ELECTRICAL COMPANY INCORPORATED NA 289
MISCELLANEOUS ( 6 PAYEES) NA 61
-----------
TOTAL ENGINEERING SERVICES 4,112
===========
LEGAL SERVICES
- --------------
AMERICAN ELECTRIC POWER COMPANY INC NA 48
BALCH & BINGHAM NA 74
BRYAN CAVE LLP NA 31
CARMODY & TORRANCE DR NA 183
COALITION ON PURPA REFORM NA 61
CUMMINGS & LOCKWOOD NA 154
DAY BERRY & HOWARD NA 762
JACKSON LEWIS NA 33
KELLY SERVICES INCORPORATED NA 26
MORGAN LEWIS & BROCKIUS LLP NA 531
NEWMAN BOUKNIGHT & EDGAR PC NA 133
RATH YOUNG PIGNATELLI & OYER PA NA 66
STEPTOE & JOHNSON LLP NA 179
MISCELLANEOUS ( 63 PAYEES) NA 176
-----------
TOTAL LEGAL SERVICES 2,457
===========
OTHER SERVICES
- --------------
A R JOSEPH ASSOCIATES NA 46
ACCELERATED COLLECTION SYSTEMS INC NA 99
ACCESS COMPUTER CONSULTANTS NA 28
ADAPTIVE SYSTEMS INC NA 166
ADEPT INCORPORATED NA 614
ADVANCED COMPUTING TECHNIQUES INC NA 149
ADVANCED OFFICE SYSTEMS NA 34
ALEXANDER & ALEXANDER NA 27
ALLIED PRINTING SERVICES INCORPORATED NA 259
ALTRAN CORPORATION NA 106
AMERICAN ADJUSTMENT BUREAU INCORPORATED NA 37
AMERICAN VAN & STORAGE SYSTEMS INC NA 70
AMERIDATA NA 29
ANDERSEN CONSULTING LLP NA 1,598
ANDREA HUNT PHD PC NA 48
APEX DATA SERVICES INCORPORATED NA 211
ASSOCIATED CREDIT SERVICES INCORPORATED NA 51
AT&T NA 43
BARAKAT AND CHAMBERLIN NA 101
BARRIEAU MOVING & STORAGE NA 27
BELL ATLANTIC BUSINESS SYSTEMS SERVICES NA 181
BLACK & VEATCH NA 68
BRETHOWER ASSOCIATES NA 150
C THAYER BROWNE NA 37
C W COSTELLO & ASSOCIATES INCORPORATED NA 1,391
CAMBRIDGE ENERGY RESEARCH ASSOCIATES NA 106
CAMBRIDGE REPORTS RESEARCH INTERNATIONAL NA 279
CANTEEN INTERSTATE UNITED CORPORATION NA 142
CARROLL TRAVEL NA 38
CCARC INC NA 28
CDI CORPORATION NA 49
CENTER FOR PROFESSIONAL COMPUTER NA 54
CHARLES RIVER ASSOCIATES INC NA 26
CISCO SYSTEMS INCORPORATED NA 74
CLEMENS J HELTEMES JR NA 72
COMPUTER MANAGEMENT SCIENCES INC NA 25
COMSKILL LEARNING CENTER NA 49
CONNECTICUT ASSOC FOR HUMAN SERVICES NA 36
CONNECTICUT CAR RENTAL INCORPORATED NA 34
CONNECTICUT DEVELOPMENT AUTHORITY NA 59
CONNECTICUT HOUSING INVESTMENT FUND INC NA 1,686
CONSERVATION LAW FOUNDATION NA 225
CONTINENTAL SERVICES GROUP INC NA 115
COVEY LEADERSHIP CENTER NA 49
CREDIT BUREAU COLLECTIONS NA 147
CREDIT CENTER INCORPORATED NA 29
CSC INDEX NA 54
DATA DIMENSIONS INC NA 26
DATA MAIL INCORPORATED NA 173
DEVELOPMENT DIMENSIONS INTERNATIONAL NA 58
DIGITAL EQUIPMENT CORPORATION NA 516
DOW JONES & COMPANY INCORPORATED NA 37
DR ANDREW J HSI PE NA 26
DRI MCGRAW HILL NA 36
EMPLOYMENT LEARNING INNOVATIONS INC NA 80
ERNST & YOUNG LLP NA 10,679
ESCA CORPORATION NA 155
ETP INCORPORATED NA 65
EUCON NA 568
FESTIVAL OF LIGHT NA 50
FINANCIAL COLLECTION AGENCIES NA 163
FIRST DATA CORPORATION NA 239
FORUM CORPORATION NA 28
GARTNER GROUP INC NA 52
GEOMAX INTERNATIONAL INC NA 41
GERALD R BROWNE NA 88
GERARD A LAFLAMME INCORPORATED NA 58
HARRY RICH ASSOCIATES INCORPORATED NA 25
HAY MANAGEMENT CONSULTANTS NA 974
HEALTH RESOURCES NA 135
HEWITT ASSOCIATES LLC NA 30
HEWLETT PACKARD COMPANY NA 35
HOLTEC INTERNATIONAL NA 316
HOLYOKE GAS & ELECTRIC DEPARTMENT NA 227
HOLYOKE WATER POWER COMPANY A 84
HORTON INTERNATIONAL NA 30
IMAGINET COMPUTERS NA 50
INCREMENTAL SYSTEMS CORPORATION NA 54
INSTITUTE OF NUCLEAR POWER OPERATIONS NA 166
INTERNATIONAL BUSINESS MACHINES CORP NA 1,037
INTERNATIONAL INSTITUTE FOR LEARNING INC NA 31
ISLAND SOFTWARE TECHNOLOGY CORP NA 147
JANUS MANAGEMENT ASSOCIATES INCORPORATED NA 347
JOBPRO NA 72
JPS RESTAURANT NA 31
K RAN DESIGN INC NA 245
KEANE INCORPORATED NA 108
KELLY SERVICES INCORPORATED NA 716
KEMPER MANAGEMENT SERVICES INC NA 88
KENNY KINDLER HUNT & HOWE INC NA 136
KIRBY ENTERPRISES INCORPORATION NA 32
LATHAM MANAGEMENT SERVICE NA 87
LCG CONSULTING NA 31
LENCO COMPUTER CONSULTING NA 225
LEXIS NEXIS INCORPORATED NA 48
LIBERTY TECHNICAL SERVICES INC NA 35
LITTLE JOHNS MOVERS INCORPORATED NA 31
LIUSKI INTERNATIONAL INC NA 83
LYNN WOOD DESIGN NA 352
M & M SECURITY AND ELECTRICAL NA 139
MANAGEMENT ASSOCIATED RESULTS CO INC NA 108
MANPOWER INCORPORATED NA 526
MARCUS CORPORATION NA 29
MARQUARDT & ROCHE INC NA 212
MEASUREMENT DIMENSIONS INCORPORATED NA 50
MELITA INTERNATIONAL CORPORATION NA 27
MEMOREX TELEX NA 44
MICON INCORPORATED NA 272
MILLETTE ASSOCIATES PC NA 149
MINTZ & HOKE INCORPORATED NA 325
MOTION INCORPORATED NA 45
MOUNTAIN TOP CONSULTING NA 34
NANCY J KIRBY NA 25
NATIONAL ECONOMIC RESEARCH ASSOC INC NA 83
NATIONAL MOBILE SERVICES INCORPORATED NA 31
NATIONAL TRUST NA 169
NES INC NA 328
NEW ENGLAND POWER SERVICE COMPANY NA 199
NEW ENGLAND WEATHER SERVICE INCORPORATED NA 31
NORTEL COMMUNICATIONS SYSTEMS NA 711
NORTH ATLANTIC ENERGY SERVICE CORP AGENT A 857
NRT TECHNICAL INCORPORATED NA 688
NUCLEAR LOGISTICS INCORPORATED NA 132
OGDEN ALLIED SECURITY SERVICES INC NA 437
OLAV & COMPANY INCORPORATED NA 119
OPTICOM INCORPORATED NA 318
OPTIMUM TRAINING CENTERS LTD NA 52
O'SHAUGHNESSY ELECTRIC INCORPORATED NA 27
OUTPUT TECHNOLOGIES INCORPORATED NA 265
PARAMOUNT SYSTEMS INCORPORATED NA 263
PART TIME RESOURCES INCORPORATED NA 68
PAS EXPEDITING SERVICES NA 25
PILOT SOFTWARE INCORPORATED NA 266
PINNACLE LIMITED NA 108
POSTMASTER NA 60
POWER TECHNOLOGIES INCORPORATED NA 49
PREMIER DATA SERVICES INCORPORATED NA 171
PRIDE TECHNOLOGIES INCORPORATED NA 470
PRO FITNESS NA 45
QES INCORPORATED NA 42
QUALITY SYSTEMS INCORPORATED NA 47
RAY & ASSOCIATES NA 65
RELIABLE VENDING COMPANY NA 74
RESOURCE GROUP LIMITED NA 33
RESOURCES CONSERVATION INCORPORATED NA 186
RKS RESEARCH & CONSULTING NA 31
RLW ANALYTICS INCORPORATED NA 663
S M STOLLER CORPORATION NA 34
SCIENCE APPLICATIONS INTERNATIONAL CORP NA 62
SCOTT HEMPLING NA 51
SHIPMANS FIRE EQUIPMENT COMPANY INC NA 71
SILVERSTONE & KOONTZ NA 34
SMITH & COMPANY INC NA 27
SMITHKLINE BEECHAM LABORATORIES NA 29
SNET NA 27
SOFTAIDE SERVICES NA 135
SOFTWARE AG NA 30
SOFTWARE HOUSE INTERNATIONAL INC NA 26
STANDARD FORMS INCORPORATED NA 74
STATE OF CONNECTICUT NA 78
STAYWELL HEALTH MANAGEMENT SYSTEMS INC NA 117
STEVEN B BUTTNER NA 26
STOCKHOLDER SYSTEMS INCORPORATED NA 43
STRATACOM NA 30
STRATEGIC UTILITY MARKET SERVICES NA 63
STURBRIDGE HOST HOTEL NA 36
SUN MICROSYSTEMS NA 54
THE BRODEUR GROUP INC NA 76
THE CUNNINGHAAM GROUP INC NA 36
THE E R HITCHCOCK COMPANY INCORPORATED NA 25
THE ECONOMICS RESOURCE GROUP NA 526
THE FORUM CORPORATION NA 292
THE GRANITE GROUP INCORPORATED NA 83
THE INDUS GROUP INCORPORATED NA 1,059
THE NICHOLAS GROUP NA 151
THE SCHAEFER GROUP NA 56
THE WAVERLY PRINTING COMPANY NA 61
THE WHITEMAN RESOURCE NA 65
THE WINN COMPANY NA 107
THE WYATT COMPANY NA 97
THOMAS E MURLEY NA 54
TONE SOFTWARE CORPORATION NA 30
TOWERS PERRIN NA 263
TRACE SERVICES INCORPORATED NA 89
TRIMCO ENTERPRISE LTD NA 106
UNIVERSITY OF CONNECTICUT NA 172
VALUE INTEGRATION INC NA 167
VECTRA TECHNOLOGIES INC NA 37
WALKER RICHER & QUINN INCORPORATED NA 51
WORK OPPORTUNITY CENTER INC NA 54
XENERGY INC NA 726
YANKEE ATOMIC ELECTRIC COMPANY NA 566
MISCELLANEOUS (962 PAYEES) 569
-----------
TOTAL OTHER SERVICES 43,755
===========
GRAND TOTAL OUTSIDE SERVICES 50,718
===========
</TABLE>
<TABLE>
<CAPTION>
ANNUAL REPORT OF NORTHEAST UTILITIES SERVICE COMPANY
For the Year Ended December 31, 1995
EMPLOYEE PENSIONS AND BENEFITS
ACCOUNT 926
INSTRUCTIONS: Provide a listing of each pension plan and benefit
program provided by the service company. Such
listing should be limited to $25,000.
- ------------------------------------------------------------------------
DESCRIPTION AMOUNT
- ------------------------------------------------------------------------
(Thousands of Dollars)
<S> <C>
Pension Plan $121
Supplemental Retirement and Savings Plan 5,701
Group Life, Long-term Disability, Hospital
and Medical Insurance Expenses 12,806
Post retirement medical benefit - FAS 106 7,944
Early retirement program 2,168
Educational Activities 335
System Newspaper 116
Other Employee Benefits Expenses 145
---------
TOTAL $29,336
=========
</TABLE>
<TABLE>
<CAPTION>
ANNUAL REPORT OF NORTHEAST UTILITIES SERVICE COMPANY
For the Year Ended December 31, 1995
GENERAL ADVERTISING EXPENSES
ACCOUNT 930.1
INSTRUCTIONS: Provide a listing of the amount included in Account 930.1,
"General Advertising Expenses," classifying the items
according to the nature of the advertising and as
defined in the account definition. If a particular class
includes an amount in excess of $3,000 applicable to a
single payee, show separately the name of the payee and
the aggregate amount applicable thereto.
- ------------------------------------------------------------------------------
DESCRIPTION NAME OF PAYEE AMOUNT
- ------------------------------------------------------------------------------
(Thousands of Dollars)
<S> <C>
-
---------
TOTAL $ -
=========
</TABLE>
<TABLE>
<CAPTION>
ANNUAL REPORT OF NORTHEAST UTILITIES SERVICE COMPANY
For the Year Ended December 31, 1995
MISCELLANEOUS GENERAL EXPENSES
ACCOUNT 930
INSTRUCTIONS: Provide a listing of the amount included in Account 930,
"Miscellaneous General Expenses," classifying such expenses
according to their nature. Payments and expenses permitted
by Section 321(b)(2) of the Federal Election Campaign Act,
as amended by Public Law 94-283 in 1976 (2 U.S.C. Section
441(b)(2)) shall be separately classified.
DESCRIPTION AMOUNT
(Thousand of Dollars)
<S> <C>
Economic development 1,677
Shareholder reports and meetings 897
Communication expenses 762
Recruitment expenses 457
Employee development expenses 354
Northeast Power Coordinating Council 193
Strategic planning 87
New York Stock Exchange - annual listing fee 65
Trustee registration & transfer agent fee & expense 49
Other miscellaneous expenses (66 items) 1,160
-----------------
Total Miscellaneous General Expenses 5,701
=================
</TABLE>
<TABLE>
<CAPTION>
ANNUAL REPORT OF NORTHEAST UTILITIES SERVICE COMPANY
For the Year Ended December 31, 1995
RENTS
ACCOUNT 931
INSTRUCTIONS: Provide a listing of the amount included in Account 931,
"Rents," classifying such expenses by major groupings of
property, as defined in the account definition of the
Uniform System of Accounts.
- ------------------------------------------------------------------------
TYPE OF PROPERTY AMOUNT
- ------------------------------------------------------------------------
(Thousands of Dollars)
<S> <C>
Buildings/office space $9,059
Computer/Office equipment 16,569
Vehicles 9
---------
TOTAL $25,637
=========
</TABLE>
<TABLE>
<CAPTION>
ANNUAL REPORT OF NORTHEAST UTILITIES SERVICE COMPANY
For the Year Ended December 31, 1995
TAXES OTHER THAN INCOME TAXES
ACCOUNT 408
INSTRUCTIONS: Provide an analysis of Account 408, "Taxes Other Than
Income Taxes." Separate the analysis into two groups:
(1)Other than U.S. Government taxes, and (2) U.S.
Government taxes. Specify each of the various kinds of
taxes and show the amounts thereof. Provide a subtotal
for each class of tax.
- -------------------------------------------------------------------------
KIND OF TAX AMOUNT
- -------------------------------------------------------------------------
(Thousands of Dollars)
<S> <C>
(1) Other Than U.S. Government Taxes:
Connecticut Unemployment $550
Massachusetts Unemployment 52
Local property 588
Other 1
---------
Sub-Total 1,191
---------
(2) U.S. Government Taxes:
Federal Insurance Contribution Act 7,495
Medicare Tax 2,279
Federal Unemployment 156
Federal Excise 48
---------
Sub-Total 9,978
---------
TOTAL $11,169
=========
</TABLE>
<TABLE>
<CAPTION>
ANNUAL REPORT OF NORTHEAST UTILITIES SERVICE COMPANY
For the Year Ended December 31, 1995
DONATIONS
ACCOUNT 426.1
INSTRUCTIONS: Provide a listing of the amount included in Account 426.1, "Donations,"
classifying such expenses by its purpose. The aggregate number and amount
of all items of less than $3,000 may be shown in lieu of details.
- -----------------------------------------------------------------------------------------------
NAME OF RECIPIENT PURPOSE OF DONATION AMOUNT
- -----------------------------------------------------------------------------------------------
(Thousands
of Dollars)
<S> <S> <C>
BARKER SPECIALTY CHARITABLE CONTRIBUTION $10
BAY PATH COLLEGE CHARITABLE CONTRIBUTION AND EDUCATIONAL GRANT 4
CANTEEN INTERSTATE UNITED CORPORATION CHARITABLE CONTRIBUTION 3
CAPITAL COMMUNITY TECHNICAL COLLEGE CHARITABLE CONTRIBUTION AND EDUCATIONAL GRANT 4
CENTRAL CONNECTICUT STATE
UNIVERSITY CHARITABLE CONTRIBUTION AND EDUCATIONAL GRANT 4
CHANNEL 3 COUNTRY CAMP CHARITABLE CONTRIBUTION 5
GREENFIELD COMMUNITY COLLEGE FUND CHARITABLE CONTRIBUTION AND EDUCATIONAL GRANT 7
HARTFORD COLLEGE FOR WOMEN CHARITABLE CONTRIBUTION AND EDUCATIONAL GRANT 3
HARTFORD GRADUATE CENTER CHARITABLE CONTRIBUTION AND EDUCATIONAL GRANT 7
HARTFORD HOSPITAL CHARITABLE CONTRIBUTION 3
HARVARD SCHOOL OF PUBLIC HEALTH CHARITABLE CONTRIBUTION 5
MASSACHUSETTS INSTITUTE OF
TECHNOLOGY CHARITABLE CONTRIBUTION AND EDUCATIONAL GRANT 24
MOUNT HOLYOKE COLLEGE CHARITABLE CONTRIBUTION AND EDUCATIONAL GRANT 4
NORTHEASTERN UNIVERSITY CHARITABLE CONTRIBUTION AND EDUCATIONAL GRANT 5
PENNSYLVANIA STATE UNIVERSITY CHARITABLE CONTRIBUTION AND EDUCATIONAL GRANT 3
RENSSELAER POLYTECHNIC INSTITUTE CHARITABLE CONTRIBUTION AND EDUCATIONAL GRANT 25
RESOURCES DEVELOPMENT FOUNDATION CHARITABLE CONTRIBUTION 16
SAINT JOSEPH COLLEGE CHARITABLE CONTRIBUTION AND EDUCATIONAL GRANT 15
SPRINGFIELD COLLEGE CHARITABLE CONTRIBUTION AND EDUCATIONAL GRANT 3
TRINITY COLLEGE CHARITABLE CONTRIBUTION AND EDUCATIONAL GRANT 6
UNION COLLEGE CHARITABLE CONTRIBUTION AND EDUCATIONAL GRANT 3
UNIVERSITY OF CONNECTICUT CHARITABLE CONTRIBUTION AND EDUCATIONAL GRANT 90
UNIVERSITY OF CONNECTICUT
FOUNDATION CHARITABLE CONTRIBUTION AND EDUCATIONAL GRANT 25
UNIVERSITY OF HARTFORD CHARITABLE CONTRIBUTION AND EDUCATIONAL GRANT 13
UNIVERSITY OF MASSACHUSETTS CHARITABLE CONTRIBUTION AND EDUCATIONAL GRANT 9
UNIVERSITY OF MASSACHUSETTS LOWELL CHARITABLE CONTRIBUTION AND EDUCATIONAL GRANT 8
WENTWORTH INSTITUTE OF TECHNOLOGY CHARITABLE CONTRIBUTION AND EDUCATIONAL GRANT 3
WESLEYAN UNIVERSITY CHARITABLE CONTRIBUTION AND EDUCATIONAL GRANT 10
WORCESTER POLYTECHNIC INSTITUTE CHARITABLE CONTRIBUTION AND EDUCATIONAL GRANT 6
YALE UNIVERSITY CHARITABLE CONTRIBUTION AND EDUCATIONAL GRANT 3
MISCELLANEOUS (333 PAYEES) CHARITABLE CONTRIBUTION AND EDUCATIONAL GRANT 198
-----------
TOTAL $524
===========
</TABLE>
<TABLE>
<CAPTION>
ANNUAL REPORT OF NORTHEAST UTILITIES SERVICE COMPANY
For the Year Ended December 31, 1995
OTHER DEDUCTIONS
ACCOUNT 426.5
INSTRUCTIONS: Provide a listing of the amount included in Account 426.5,
"Other Deductions," classifying such expenses according
to their nature.
- --------------------------------------------------------------------------------
DESCRIPTION NAME OF PAYEE AMOUNT
- --------------------------------------------------------------------------------
(Thousands of Dollars)
<S> <S> <C>
Executive incentive
compensation plan Various NUSCO Officers $2,938
Legislative services Updike Kelly & Spellacy, PC 104
Miscellaneous (157 items) 265
--------
TOTAL $3,307
========
</TABLE>
ANNUAL REPORT OF NORTHEAST UTILITIES SERVICE COMPANY
For the Year Ended December 31, 1995
SCHEDULE XVIII
NOTES TO STATEMENTS OF INCOME
INSTRUCTIONS: The space below is provided for important notes
regarding the statement of income or any account
thereof. Furnish particulars as to any
significant increases in services rendered or
expenses incurred during the year. Notes
relating to financial statements shown elsewhere
in this report may be indicated here by
reference.
See Notes to Financial Statements on pages 19 through 19D.
ANNUAL REPORT OF NORTHEAST UTILITIES SERVICE COMPANY
ORGANIZATION CHART (AS OF DECEMBER 31, 1995)
Chairman, President and Chief Executive Officer
- President - Energy Resources Group and Chief Financial Officer
- Executive Vice President - Nuclear
- Vice President - Fossil and Hydro Engineering and Operations
- Vice President and Controller
- Vice President and Treasurer
- Vice President - Wholesale Marketing
- President - Retail Business Group
- Vice President - Transmission and Distribution
- Vice President - Retail Marketing
- Director - Customer Service
- Senior Vice President and Chief Administrative Officer
- Vice President - Corporate Communiations
- Vice President & Chief Information Officer
- Vice President - Purchasing and General Services
- Vice President - Human Resources
- Director - Internal Audit and Security
- Senior Vice President - Governmental Affairs
- Vice President - Secretary and General Counsel
- Vice President - Corporate and Environmental Affairs
NORTHEAST UTILITIES SERVICE COMPANY
-----------------------------------
METHODS OF ALLOCATION
---------------------
For the year ended December 31, 1995
------------------------------------
1) Cogeneration Units
2) Conservation and Load Management Programs and Expenditures
3) Peak Load
4) Fuel Purchased
5) Gross Plant Assets
6) Invoices Processed
7) Materials and Supplies
8) Megawatt Sales
9) Direct Charged Costs
10) Payroll
11) Operating Revenues
12) Union Employees
13) Vehicle Lease Costs
14) Customers
15) Vehicles
16) Nuclear Units
17) Borrowing Limits
18) Employees
19) Building Space Utilization
20) kWh Load Under Contract
21) Number of Customer Inquiries
NOTE: Allocations may include a combination of the above factors.
ANNUAL REPORT OF NORTHEAST UTILITIES SERVICE COMPANY
ANNUAL STATEMENT OF COMPENSATION FOR USE OF CAPITAL BILLED
The following annual statement was supplied to each associate
company in support of the amount of compensation for use of capital
billed during 1995:
In accordance with Instruction 01-12 of the Securities and
Exchange Commission's Uniform System of Accounts for Mutual
Service Companies and Subsidiary Service Companies, Northeast
Utilities Service Company submits the following information on
the billing of interest on borrowed funds to associated companies
for the year 1995:
(A) Amount of Interest Billed to (See Note)
(B) The basis for billing of interest to the associated
companies is payroll billed to the associated companies
from the service company.
NOTE: For the associate companies and amounts, see "Analysis of Billing -
Associate Companies" on page 21. During 1995 there was no
interest billed to Associated Companies.
ANNUAL REPORT OF NORTHEAST UTILITIES SERVICE COMPANY
SIGNATURE CLAUSE
Pursuant to the requirements of the Public Utility Holding Company Act of
1935 and the rules and regulations of the Securities and Exchange Commission
issued thereunder, the undersigned company has duly caused this report to be
signed on its behalf by the undersigned officer thereunto duly authorized.
NORTHEAST UTILITIES SERVICE COMPANY
(Name of Reporting Company)
By: /s/ John J. Roman
(Signature of Signing Officer)
John J. Roman - Vice President and Controller
(Printed Name and Title of Signing Officer)
Date: April 26, 1996
<TABLE> <S> <C>
<ARTICLE>OPUR2
<CIK>0000205716
<NAME>NORTHEAST UTILITIES SERVICE COMPANY
<MULTIPLIER>1,000
<S> <C> <C>
<PERIOD-TYPE> YEAR YEAR
<FISCAL-YEAR-END> DEC-31-1995 DEC-31-1994
<PERIOD-END> DEC-31-1995 DEC-31-1994
<BOOK-VALUE> PER-BOOK PER-BOOK
<NET-SERVICE-COMPANY-PROPERTY> 40,206 29,143
<TOTAL-INVESTMENTS> 4,630 949
<TOTAL-CURRENT-ASSETS> 139,388 184,094
<TOTAL-DEFERRED-DEBITS> 21,525 19,404
<OTHER-ASSETS-AND-DEBITS> 0 0
<TOTAL-ASSETS-AND-DEBITS> 205,749 233,590
<TOTAL-PROPRIETARY-CAPITAL> 1 1
<TOTAL-LONG-TERM-DEBT> 0 0
<NOTES-PAYABLE> 0 0
<NOTES-PAYABLE-ASSOCIATE-COMP> 65,275 121,725
<OTHER-CURR-AND-ACCRUED-LIAB> 113,816 94,999
<TOTAL-DEFERRED-CREDITS> 26,657 16,865
<DEFERRED-INCOME-TAX> 0 0
<TOT-LIABIL-AND-PROPRIET-CAP> 205,749 233,590
<SERVICES-ASSOCIATE-COMPANIES> 285,696 252,805
<SERVICES-NON-ASSOCIATE-COMP> 43,422 46,277
<MISC-INCOME-OR-LOSS> 132 20
<TOTAL-INCOME> 329,250 299,102
<SALARIES-AND-WAGES> 156,140 142,037
<EMPLOYEE-PENSION-AND-BENEFIT> 29,336 27,513
<OTHER-EXPENSES> 143,774 129,552
<TOTAL-EXPENSES> 329,250 299,102
<NET-INCOME> 0 0
<TOTAL-EXPENSES-DIRECT-COST> 304,174 276,617
<TOTAL-EXPENSES-INDIRECT-COST> 25,076 22,485
<TOT-EXP-DIRECT-AND-INDIRECT> 329,250 299,102
<PERSONNEL-END-OF-YEAR> 2,569 2,400
</TABLE>
