PAGE 1 OF 10
UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
____________________________________________
In the Matter of
NATIONAL FUEL GAS COMPANY FOURTH
NATIONAL FUEL GAS DISTRIBUTION CORPORATION CERTIFICATE
NATIONAL FUEL GAS SUPPLY CORPORATION PURSUANT TO
SENECA RESOURCES CORPORATION RULE 24
UTILITY CONSTRUCTORS, INC.
HIGHLAND LAND & MINERALS, INC.
LEIDY HUB, INC.
DATA-TRACK ACCOUNT SERVICES, INC.
NATIONAL FUEL RESOURCES, INC.
File No. 70-8297
(Public Utility Holding Company Act of 1935)
____________________________________________
THIS IS TO CERTIFY, pursuant to Rule 24, that certain
transactions proposed by National Fuel Gas Company ("National") and
its subsidiaries, National Fuel Gas Distribution Corporation
("Distribution Corporation"), National Fuel Gas Supply Corporation
("Supply Corporation"), Seneca Resources Corporation ("Seneca"),
Utility Constructors, Inc. ("UCI"), Highland Land & Minerals, Inc.
("Highland"), Leidy Hub, Inc. ("Leidy"), Data-Track Account Services,
Inc. ("Data-Track") and National Fuel Resources, Inc. ("NFR") in Form
U-1, Application-Declaration, File No. 70-8297, as amended, have been
carried out in accordance with the terms and conditions, and for the
purposes as represented by said Application-Declaration, and the
Order of the Securities and Exchange Commission ("Commission") (HCAR
No. 35-25964 dated December 29, 1993) with respect thereto. Note
that, on July 1, 1994, Penn-York Energy Corporation ("Penn-York")
merged with Supply Corporation, with Supply Corporation as the
surviving entity (see File No. 70-8135, HCAR No. 35-25811). Because
of certain FERC ratemaking considerations, Supply Corporation found
it necessary to separately account for Penn-York associated
borrowings until the FERC approved of Supply Corporation's tariff
rates that effected the combination of the Supply Corporation and
Penn-York assets.
During the quarter ended December 31, 1994 the following
borrowing transactions occurred:
1. Sales and resales of commercial paper for the quarter
are shown on the attached certificates of Merrill Lynch
Money Markets, Inc. and Chase Securities, Inc.
PAGE 2 OF 10
2. National increased its outstanding borrowings by
issuing and selling short-term notes in the following
amounts to Chase Manhattan Bank, N.A., or other banks
or financial institutions as listed in the
Application-Declaration on the dates and at the rates
indicated below. The proceeds from the sales of these
notes were either used by National for its own
corporate purposes or transferred by National to the
System Money Pool to be utilized by National's
subsidiaries. This schedule also reflects renewals at
different rates.
DATE AMOUNT RATE
10/3/94 $11,800,000 4.93%
10/3/94 11,000,000 5.14
10/4/94 10,000,000 4.94
10/5/94 8,100,000 4.88
10/6/94 13,800,000 4.82
10/7/94 12,400,000 4.94
10/11/94 15,000,000 5.39
10/11/94 8,000,000 4.88
10/12/94 7,900,000 4.82
10/13/94 7,100,000 4.88
10/14/94 12,500,000 5.70
10/14/94 12,500,000 5.70
10/14/94 10,000,000 4.88
10/14/94 7,900,000 4.675
10/17/94 8,800,000 4.80
10/18/94 10,300,000 4.87
10/19/93 16,800,000 4.82
10/20/94 19,900,000 4.89
10/21/94 8,000,000 5.70
10/21/94 10,000,000 4.97
10/24/94 2,800,000 4.87
10/24/94 10,000,000 4.96
10/25/94 11,700,000 4.84
10/26/94 12,900,000 4.88
10/26/94 10,000,000 5.02
10/27/94 12,100,000 4.87
10/28/94 12,500,000 4.87
10/31/94 10,000,000 5.35
10/31/94 10,000,000 5.70
10/31/94 3,800,000 5.00
11/1/94 5,000,000 4.93
11/2/94 8,100,000 4.90
11/2/94 7,000,000 4.90
11/3/94 8,600,000 4.80
11/3/94 10,000,000 5.22
PAGE 3 OF 10
11/4/94 7,100,000 5.27
11/7/94 8,700,000 4.86
11/8/94 5,400,000 4.80
11/9/94 10,100,000 4.80
11/9/94 10,000,000 5.30
11/10/94 7,500,000 4.93
11/14/94 7,600,000 5.24
11/15/94 4,300,000 5.74
11/16/94 12,400,000 5.60
11/17/94 10,700,000 5.61
11/18/94 10,600,000 5.55
11/21/94 13,600,000 5.61
11/22/94 4,100,000 5.55
11/22/94 10,000,000 6.08
11/23/94 14,700,000 5.70
11/25/94 10,400,000 5.74
11/28/94 11,100,000 5.75
11/29/94 9,200,000 5.65
11/30/94 16,700,000 5.86
12/1/94 10,100,000 6.23
12/2/94 6,000,000 5.70
12/5/94 9,600,000 5.61
12/6/94 5,100,000 5.49
12/7/94 2,100,000 5.36
12/9/94 4,900,000 5.56
12/12/94 10,000,000 6.23
12/12/94 9,800,000 5.67
12/13/94 10,000,000 6.18
12/13/94 5,000,000 5.48
12/14/94 8,000,000 6.20
12/14/94 11,000,000 5.47
12/15/94 12,400,000 5.65
12/16/94 11,400,000 5.55
12/19/94 12,700,000 5.55
12/20/94 5,500,000 5.54
12/20/94 5,000,000 6.26
12/20/94 10,000,000 6.30
12/21/94 4,200,000 5.78
12/22/94 4,500,000 5.78
12/22/94 10,000,000 6.10
12/22/94 5,000,000 6.01
12/23/94 6,600,000 5.98
12/27/94 15,000,000 5.90
12/27/94 4,100,000 5.85
12/27/94 5,000,000 6.17
12/28/94 23,500,000 5.70
12/28/94 4,900,000 5.66
12/29/94 4,900,000 5.86
12/29/94 10,000,000 5.92
12/29/94 9,000,000 5.65
12/30/94 13,600,000 6.75
PAGE 4 OF 10
3. Supply Corporation (non-Penn-York) transferred the
following amounts to the System Money Pool on the dates
and at the rates indicated below. These amounts were
either used to decrease outstanding System borrowings
and/or commercial paper or utilized by National's other
subsidiaries.
DATE AMOUNT RATE
10/3/94 $ 2,500,000 5.04%
10/6/94 600,000 5.07
10/7/94 17,800,000 5.07
10/13/94 3,000,000 5.10
10/24/94 500,000 4.97
10/25/94 7,600,000 4.96
10/26/94 2,200,000 4.98
10/27/94 2,800,000 4.98
10/28/94 5,900,000 4.98
11/8/94 15,400,000 5.22
11/14/94 2,000,000 5.24
11/25/94 1,700,000 5.58
11/28/94 17,000,000 5.60
12/1/94 9,200,000 5.62
12/8/94 11,700,000 6.07
12/14/94 1,700,000 6.13
12/22/94 800,000 5.97
12/23/94 6,400,000 6.04
12/27/94 900,000 6.07
12/29/94 14,700,000 6.10
4. Supply Corporation (non-Penn-York) borrowed the
following amounts from the System Money Pool on the
dates and at the rates indicated below.
None.
Supply Corporation (Penn-York related) borrowed the
following amounts from the System Money Pool on the
dates and at the rates indicated below.
DATE AMOUNT RATE
10/3/94 $1,200,000 5.013%
10/6/94 100,000 5.006
10/12/94 100,000 5.073
10/25/94 1,400,000 5.166
10/26/94 200,000 5.157
10/28/94 100,000 5.157
10/31/94 100,000 5.212
PAGE 5 OF 10
11/1/94 300,000 5.207
11/2/94 100,000 5.194
11/9/94 100,000 5.263
11/17/94 100,000 5.371
11/25/94 1,300,000 5.473
11/29/94 100,000 5.525
11/30/94 100,000 5.569
12/1/94 100,000 5.582
12/9/94 1,000,000 5.706
12/14/94 3,400,000 5.826
12/22/94 1,300,000 5.927
12/29/94 500,000 5.988
5. Distribution Corporation transferred the following
amounts to the System Money Pool on the dates and at
the rates indicated below. These amounts were either
used to decrease outstanding System borrowings and/or
commercial paper or utilized by National's other
subsidiaries.
None.
6. Distribution Corporation borrowed the following amounts
from the System Money Pool on the dates and at the
rates indicated below:
DATE AMOUNT RATE
10/13/94 $ 2,400,000 5.079
10/14/94 7,600,000 5.161
10/17/94 800,000 5.168
10/18/94 1,900,000 5.170
10/20/94 2,500,000 5.167
10/25/94 14,000,000 5.166
10/26/94 5,500,000 5.157
10/31/94 6,100,000 5.212
11/1/94 900,000 5.207
11/14/94 400,000 5.319
11/21/94 2,900,000 5.399
11/23/94 900,000 5.457
11/25/94 11,300,000 5.473
11/28/94 800,000 5.530
11/30/94 2,000,000 5.569
12/1/94 3,900,000 5.582
12/12/94 1,100,000 5.763
12/14/94 2,000,000 5.826
12/15/94 800,000 5.837
12/20/94 7,600,000 5.879
12/23/94 1,800,000 5.932
12/27/94 22,100,000 5.935
12/30/94 1,700,000 6.057
PAGE 6 OF 10
7. National transferred the following amounts to the
System Money Pool on the dates and at the rates
indicated below. These amounts were either used to
decrease outstanding System borrowings and/or
commercial paper or utilized by National's other
subsidiaries.
DATE AMOUNT RATE
10/12/94 $ 300,000 5.14%
10/17/94 1,200,000 5.01
10/19/94 1,400,000 4.96
10/20/94 3,800,000 4.96
11/1/94 2,300,000 5.00
11/2/94 500,000 5.02
11/17/94 1,100,000 5.58
11/18/94 1,400,000 5.70
11/21/94 3,800,000 5.59
12/1/94 600,000 5.62
12/2/94 2,600,000 6.00
12/19/94 1,900,000 6.12
12/20/94 300,000 6.15
12/21/94 3,800,000 6.04
8. Seneca transferred the following amounts to the System
Money Pool on the dates and at the rates indicated
below. These amounts were either used to decrease
outstanding System borrowings and/or commercial paper
or utilized by National's other subsidiaries.
None.
9. Seneca borrowed the following amounts from the System
Money Pool on the dates and at the rates indicated
below:
DATE AMOUNT RATE
10/11/94 $ 500,000 5.080%
10/12/94 100,000 5.073
10/14/94 6,000,000 5.161
10/17/94 200,000 5.168
10/25/94 200,000 5.166
10/31/94 1,800,000 5.212
11/1/94 900,000 5.207
11/2/94 500,000 5.194
11/4/94 200,000 5.229
11/7/94 400,000 5.227
11/10/94 400,000 5.276
PAGE 7 OF 10
11/14/94 100,000 5.319
11/15/94 1,000,000 5.332
11/16/94 300,000 5.359
11/18/94 200,000 5.375
11/22/94 2,500,000 5.424
11/30/94 2,600,000 5.569
12/7/94 100,000 5.650
12/9/94 600,000 5.706
12/12/94 500,000 5.763
12/15/94 100,000 5.837
12/16/94 900,000 5.819
12/19/94 1,700,000 5.638
12/27/94 1,200,000 5.935
In accordance with the terms of the Application-
Declaration (Item 5) and the Order of the Commission in
this proceeding dated December 29, 1993 (HCAR
No. 35-25964), attached as Exhibit A is a copy of
Seneca's Income Statement for the Three Months Ended
December 31, 1994 and attached as Exhibit B is a copy
of Seneca's Balance Sheet at December 31, 1994.
10. UCI transferred the following amounts to the System
Money Pool on the dates and at the rates indicated
below. These amounts were either used to decrease
outstanding System borrowings and/or commercial paper
or utilized by National's other subsidiaries.
None.
11. UCI borrowed the following amounts from the System
Money Pool on the dates and at the rates indicated
below:
DATE AMOUNT RATE
10/21/94 $100,000 5.208%
10/24/94 100,000 5.192
10/26/94 200,000 5.157
11/7/94 100,000 5.227
12. Highland transferred the following amounts to the
System Money Pool on the dates and at the rates
indicated below. These amounts were either used to
decrease outstanding System borrowings and/or
commercial paper or utilized by National's other
subsidiaries.
PAGE 8 OF 10
DATE AMOUNT RATE
10/5/94 $ 600,000 5.05%
10/11/94 200,000 5.15
10/17/94 1,300,000 5.01
10/31/94 200,000 4.99
11/4/94 600,000 5.08
11/10/94 200,000 5.24
11/17/94 1,300,000 5.58
11/30/94 200,000 5.62
12/1/94 200,000 5.62
12/5/94 600,000 6.08
12/13/94 200,000 6.11
12/19/94 1,100,000 6.12
12/30/94 400,000 6.05
13. Highland borrowed the following amounts from the System
Money Pool on the dates and at the rates indicated
below:
None.
14. Leidy transferred the following amounts to the System
Money Pool on the dates and at the rates indicated
below. These amounts were either used to decrease
outstanding System borrowings and/or commercial paper
or utilized by National's other subsidiaries.
None.
15. Leidy borrowed the following amounts from the System
Money Pool on the dates and at the rates indicated
below:
None.
16. Data-Track transferred the following amounts to the
System Money Pool on the dates and at the rates
indicated below. These amounts were either used to
decrease outstanding System borrowings and/or
commercial paper or utilized by National's other
subsidiaries.
DATE AMOUNT RATE
10/5/94 $400,000 5.05%
11/4/94 400,000 5.08
12/5/94 400,000 6.08
PAGE 9 OF 10
17. Data-Track borrowed the following amounts from the
System Money Pool on the dates and at the rates
indicated below:
None.
In accordance with the terms of the Application-
Declaration (Item 5) and the Order of the Commission in
this proceeding dated December 29, 1993 (HCAR
No. 35-25964), attached as Exhibit C is a copy of
Data-Track's Income Statement for Fiscal 1994, and
attached as Exhibit D is a copy of Data-Track's Balance
Sheet at September 30, 1994. Also attached as Exhibit
E is an analysis of the capital investments made by
Data-Track and the costs of the cost of collection
efforts and related benefits.
18. NFR transferred the following amounts to the System
Money Pool on the dates and at the rates indicated
below. These amounts were either used to decrease
outstanding System borrowings and/or commercial paper
or utilized by National's other subsidiaries.
DATE AMOUNT RATE
10/3/94 $ 400,000 5.04%
10/4/94 300,000 5.01
10/5/94 200,000 5.05
10/11/94 200,000 5.15
10/12/94 200,000 5.14
10/13/94 700,000 5.10
10/17/94 1,700,000 5.01
10/18/94 200,000 4.98
10/20/94 700,000 4.96
11/2/94 100,000 5.02
11/4/94 500,000 5.08
11/7/94 400,000 5.11
11/8/94 200,000 5.22
11/10/94 200,000 5.24
11/14/94 500,000 5.24
11/17/94 1,900,00 5.58
11/18/94 200,000 5.70
11/21/94 200,000 5.59
12/5/94 400,000 6.08
12/7/94 200,000 6.11
12/8/94 400,000 6.07
12/12/94 300,000 6.09
12/13/94 200,000 6.11
12/16/94 500,000 6.13
12/19/94 1,600,000 6.12
12/22/94 100,000 5.97
PAGE 10 OF 10
19. NFR borrowed the following amounts from the System
Money Pool on the dates and at the rates indicated
below:
None.
Dated: February 14, 1995 NATIONAL FUEL GAS COMPANY
By: /s/Gerald T. Wehrlin
Gerald T. Wehrlin
Controller
\JES\MONYPOOL\R24-4-95.WP
PAGE 1 OF 2
U.S. Debt Origination
Debt and Equity Markets Group
World Financial Center
North Tower
New York, New York 10281-1311
212 449 1000
MERRILL LYNCH
January 9, 1995
Ms. Donna Cambas
National Fuel Gas Company
10 Lafayette Square - Room 1100
New York, NY 14203
Dear Donna:
This is to advise you that in connection with the distribution of commercial
paper of National Fuel Gas Company from October 1, 1994 to December 31, 1994 no
sales and resales were made by Merrill Lynch Money Markets Inc. for National
Fuel Gas Company's commercial paper program. A summary of all trade activity
for the quarter is attached, which reflects no sales or resales took place for
the period indicated.
Sincerely,
/s/ E. Stewart Johnson
E. Stewart Johnson
Enclosure
ESJ:gkr
PAGE 2 OF 2
PROGRAM ISSUANCE TRADE DETAIL - CP
10/01/94 - 12/31/94
Pgm Fx/F1 Trade Dt Sett Dt MTY DTM PAR Rate Proceeds
TOTALS
______
Number of Trans: 0
Total Par 0
Total Proceeds 0
Dollar Weighted Averages
________________________
Days to Mty: NaN
Rate: NaN
Programs:
N1 NATIONAL FUEL GAS CO.
PAGE 1 OF 2
Chase Securities, Inc.
One Chase Manhattan Plaza
New York, New York 10081
CHASE
January 9, 1995
Ms. Donna Cambas
National Fuel Gas Company
10 Lafayette Square - Room 1500
Buffalo, New York 14203
Dear Ms. Cambas:
This is to advise you that in connection with the distribution of
commercial paper for the National Fuel Gas Company from
October 3, 1994 to December 30, 1994 all sales and resales on your
behalf by Chase Securities, Inc. were made only to those customers
included in the Confidential List retained by the corporation of
National Fuel Gas Company's commercial paper program. The issuance
of National Fuel Gas Company commercial paper and sales thereof
were made in accordance with the provisions of that program. A
summary of all trade activity for the quarter is attached.
Sincerely,
/s/ Anton J. Schubert
Anton J. Schubert
Vice President
PAGE 2 OF 2
Chase Securities, Inc.
One Chase Manhattan Plaza
New York, New York 10081
CHASE January 9, 1995
NATIONAL FUEL GAS COMPANY
Fourth Quarter Performance Report
PAR ISSUE MATURITY
AMOUNT DATE DATE RATE YIELD TERM TYPE
0
/s/ Anton J. Schubert
Anton J. Schubert, Vice President
SEC FILE NO. 70-8297
RULE 24 - FOURTH CERTIFICATE
EXHIBIT A PAGE 1 OF 1
SENECA RESOURCES CORPORATION
INCOME STATEMENT
(Unaudited)
Three Months Ended
DECEMBER 1994
___________________
Operating Revenues $15,645,519
------------
Operating Expenses:
Purchased Gas 211,481
Operation and Maintenance 5,022,998
Depletion, Depreciation & Amort. 5,664,220
Other Taxes 310,233
------------
11,208,932
------------
Operating Income 4,436,587
------------
Other Income 6,507
Interest Expense 2,032,136
------------
Net Income Before Income Taxes 2,410,958
------------
Income Taxes:
Federal (1,578,460)
State (119,780)
Deferred 2,384,385
------------
686,145
------------
Net Income $1,724,813
============
SEC FILE NO. 70-8297
RULE 24 - FOURTH CERTIFICATE
EXHIBIT B PAGE 1 OF 2
SENECA RESOURCES CORPORATION
BALANCE SHEET
AT DECEMBER 31, 1994
(Unaudited)
ASSETS Total
- ------ -------------
Current Assets
Cash $2,118,246
Accounts Receivable-
Intercompany 1,990,131
Other 3,929,580
Allowance for Uncollectible Accounts (121,395)
Notes Receivable-
Associated Company 0
Other 85,000
Production Receivable 0
Materials and Supplies 1,363,938
Prepayments 1,375,998
-------------
Total Current Assets 10,741,498
-------------
Property, Plant and Equipment 494,494,080
Less: Accumulated Depreciation, Depletion
and Amortization 174,980,298
-------------
Net Property, Plant and Equipment 319,513,782
-------------
Other Assets
Deferred Charges 1,851,432
Notes Receivable 36,300
-------------
Total Other Assets 1,887,732
-------------
Total Assets $332,143,012
=============
SEC FILE NO. 70-8297
RULE 24 - FOURTH CERTIFICATE
EXHIBIT B PAGE 2 OF 2
SENECA RESOURCES CORPORATION
BALANCE SHEET
AT DECEMBER 31, 1994
(Unaudited)
LIABILITIES AND STOCKHOLDERS' EQUITY Total
- ------------------------------------ -------------
Current Liabilities:
Accounts Payable-
Intercompany $1,756,311
Other 7,382,453
Notes Payable-Intercompany 64,900,000
Accrued Liabilities 1,243,000
Federal Income Taxes (3,129,499)
Other Accrued Taxes 67,614
-------------
Total Current Liabilities 72,219,879
-------------
Other Liabilities:
Accumulated Deferred Income Taxes 67,094,648
Other Deferred Credits 647,393
-------------
Total Other Liabilities 67,742,041
-------------
Stockholders' Equity:
Common Stock-$5 Par Value
Authorized-100,000 Shares; Issued and
Outstanding-100,000 Shares 500,000
Paid in Capital 104,034,942
Earnings Reinvested in the Business 5,679,489
-------------
110,214,431
Advances from Associated Companies 80,000,000
Long-Term Debt 1,966,661
-------------
Total Capitalization 192,181,092
-------------
Total Liabilities and Stockholders Equity $332,143,012
=============
FOURTH RULE 24 CERTIFICATE
SEC FILE NO. 70-8297
EXHIBIT C
DATA-TRACK ACCOUNT SERVICES, INC.
INCOME STATEMENT
Twelve Months Ended
SEPTEMBER 1994
_____________
Operating Revenues $410,845
-------------
Operating Expenses:
Operation and Maintenance 420,252
Depletion, Depreciation & Amort. 430
Deferred Income Tax (121)
Other Taxes 300
-------------
420,861
-------------
Operating Income (Loss) (10,016)
-------------
Other Income
Interest Income 18,724
-------------
18,724
-------------
Gross Income (Loss) 8,708
-------------
Other Deductions
Miscellaneous (321)
-------------
(321)
Income Taxes:
Federal 3,657
State 1,148
Deferred (144)
-------------
4,661
-------------
Net Income (Loss) $ 4,368
=============
FOURTH RULE 24 CERTIFICATE
SEC FILE NO. 70-8297
EXHIBIT D PAGE 1 OF 2
DATA-TRACK ACCOUNT SERVICES, INC.
BALANCE SHEET
AT SEPTEMBER 30, 1994
ASSETS
- ------
Current Assets:
Cash $ 74,087
Accounts Receivable-
Intercompany 51,968
Other 0
Allowance for Uncollectible Accounts 0
Notes Receivable-
Intercompany 400,000
Other 0
Materials and Supplies 0
Prepayments 13
Other Current Assets 0
-------------
Total Current Assets 527,148
-------------
Property, Plant and Equipment 84,416
Less: Accumulated Depreciation, Depletion
and Amortization (1,259)
-------------
Net Property, Plant and Equipment 83,157
-------------
Other Assets:
Other Assets 1,164
Deferred Charges (24)
Notes Receivable 0
-------------
Total Other Assets 1,140
-------------
Total Assets $611,445
=============
FOURTH RULE 24 CERTIFICATE
SEC FILE NO. 70-8297
EXHIBIT D PAGE 2 OF 2
DATA-TRACK ACCOUNT SERVICES, INC.
BALANCE SHEET
AT SEPTEMBER 30, 1994
LIABILITIES AND STOCKHOLDERS' EQUITY
- -------------------------
Current Liabilities:
Accounts Payable-
Intercompany $ 30,808
Other 105
Notes Payable-Intercompany 0
Accrued Liabilities 99
Federal Income Taxes 4,532
Other Accrued Taxes (3,855)
-------------
Total Current Liabilities 31,589
-------------
Other Liabilities:
Accumulated Deferred Income Taxes 446
Other Deferred Credits (2,882)
-------------
(2,436)
-------------
Total Other Liabilities 29,153
-------------
Stockholders' Equity:
Common Stock-$1 Par Value
Authorized-1000 Shares; Issued and
Outstanding-1000 Shares 1,000
Paid in Capital 499,000
Earnings Reinvested in the Business 82,291
-------------
Total Capitalization 582,292
-------------
Total Liabilities and Stockholders Equity $611,445
=============
PAGE 1 OF 2
SEC FILE NO. 70-8297
FOURTH RULE 24 CERTIFICATE
EXHIBIT E (PAGE 1 OF 2)
DATA-TRACK ACCOUNT SERVICES, INC.
Fiscal 1994 Activity Analysis
In fiscal 1994 (Twelve Months ended September 30,
1994), Data-Track Account Services, Inc. ("Data-Track")
continued to undertake collection activities on behalf of System
companies. The work was primarily done for the account of
National Fuel Gas Distribution Corporation ("Distribution"). In
addition to:
1) the activities directed at the collection of
overdue accounts ("Letter Series Activities"), and
2) a customer contact program addressing certain
accounts that have the potential to become
uncollectible, and
3) to contact customers who may be eligible for state
assistance programs,
Data-Track instituted:
1) pre-collection contacts for customers whose state
or federal assistance was exhausted, and
2) a customer survey program regarding certain
utility services.
LETTER SERIES ACTIVITY - FISCAL 1994
(Unpaid Final Bills)
Number of Accounts Received from NFGDC 24,010
Value of accounts Received $8,794,696
Average Value of Accounts Received $365
Collection Letters Sent 43,928
Total Operating Costs $43,611
Total Dollars Collected $852,855
Collection Liquidation Percentage 9.7%
If the System had submitted the 24,010 accounts handled
by Data-Track directly to outside collection agencies at the
standard 1/3 contingency fee, the agency fees to collect the
amount recovered would have been $284,285. Data-Track was able
to recover the entire $852,855 at a total cost of $43,611. This
represents a savings to the System of $240,674 in collection
costs during fiscal 1994.
PAGE 2 OF 2
SEC FILE NO. 70-8297
FOURTH RULE 24 CERTIFICATE
EXHIBIT E (PAGE 2 OF 2)
EQUIPMENT UPGRADE AT OUTBOUND CALL CENTER
During fiscal 1994, Data-Track initiated a computer
assisted dialing service on behalf of Distribution. During
fiscal 1994, a PBX phone system was installed to help with call
routing and in order to save long distance telephone charges.
During the fiscal year, $53,395.20 of new equipment was
capitalized, and increased Data-Track's investment in Property,
Plant and Equipment to $84,417 (gross) at the end of the fiscal
year.
