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Previous: SCANA CORP, 8-K, 1995-04-28 |
Next: UNITIL CORP, U-13-60, 1995-04-28 |
Form U-13-60
ANNUAL REPORT
FOR THE PERIOD
Beginning January 1, 1994 and Ending December 31, 1994
TO THE
US SECURITIES AND EXCHANGE COMMISSION
OF
UNITIL SERVICE CORP.
A Subsidiary Service Company
Date of Incorporation October 9, 1984
State of Incorporation New Hampshire
Location of Principal Executive Offices of Reporting Company:
216 Epping Road
Exeter, New Hampshire 03833-4571
Name, Title and address of officer to whom correspondence
concerning this report should be addressed:
Mark H. Collin, Vice President and Treasurer
216 Epping Road
Exeter, New Hampshire 03833-4571
Name of Principal Holding Company Whose Subsidaries are served by
Reporting Company:
UNITIL Corporation
ANNUAL REPORT OF UNITIL SERVICE CORP.
FORM U-13-60
For the Year Ended December 31, 1994
LISTING OF SCHEDULES AND ANALYSIS OF ACCOUNTS Page
Number
Description of Schedules and Accounts Schedule or
Account
Number
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
PROPERTY
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 ACCRU Schedule VIII 13
ASSETS
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 LIABILITIES Schedule 18
XIII
NOTES TO FINANCIAL STATEMENTS Schedule XIV 19
COMPARATIVE INCOME STATEMENT Schedule XV 20
ANALYSIS OF BILLING - ASSOCIATE Account 457 21
COMPANIES
ANALYSIS OF BILLING - NONASSOCIATE Account 458 22
COMPANIES
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
FINANCIAL DATA SCHEDULE Schedule XIX 36
ANNUAL REPORT OF UNITIL SERVICE CORP.
FORM U-13-60
For the Year Ended December 31, 1994
LISTING OF INSTRUCTIONAL FILING REQUIREMENTS Page
Number
Description of Reports or Statements
ORGANIZATION CHART 37
METHODS OF ALLOCATION 38
ANNUAL STATEMENT OF 39
COMPENSATION FOR USE
OF CAPITAL BILLED
ANNUAL REPORT OF UNITIL SERVICE CORP.
FORM U-13-60
For the Year Ended December 31, 1994
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
CURRENT PRIOR
SERVICE COMPANY PROPERTY
------------------------
101 Service company property (Schedule II) 2,109,594 1,891,785
107 Construction work in progress (Schedule II) 0 0
Total Property 2,109,594 1,891,785
108 Less accumulated provision
for depreciation
and amortization of service
company property (Schedule III) 1,755,165 1,432,982
Net Service Company Property 354,429 458,803
INVESTMENTS
-----------
123 Investments in associate 0 0
companies (Schedule IV)
124 Other investments (Schedule IV) 0 0
Total investments 0 0
CURRENT AND ACCRUED ASSETS
--------------------------
131 Cash 24,120 24,120
134 Special deposits 0 0
135 Working funds 5,000 5,000
136 Temporary cash investments (Schedule IV) 0 0
141 Notes receivable 0 0
143 Accounts receivable 1,873 16,353
144 Accumulated provision for
uncollectable accounts 0 0
146 Accounts receivable from
associate companies (Schedule V) 946,860 871,528
152 Fuel stock expense 0 0
undistributed (Schedule VI)
154 Materials and supplies 0 0
163 Stores expense undistributed (Schedule VII) 0 0
165 Prepayments 4,667 4,820
174 Miscellaneous current and
accrued assets (Schedule VIII) 0 0
Total Current and Accrued Assets 982,520 921,821
DEFERRED DEBITS
---------------
181 Unamortized debt expense 0 0
184 Clearing accounts 224,770 183,167
186 Miscellaneous deferred debits (Schedule IX) 514,715 109,204
188 Research, development, or demonstration
expenditures (Schedule X) 0 0
190 Accumulated deferred income tax 0 0
Total Deferred Debits 739,485 292,371
TOTAL ASSETS AND OTHER DEBITS 2,076,434 1,672,995
ANNUAL REPORT OF UNITIL SERVICE CORP.
FORM U-13-60
For the Year Ended December 31, 1994
SCHEDULE I - COMPARATIVE BALANCE SHEET
ACCOUNT LIABILITIES AND PROPRIETARY CAPITAL AS OF DECEMBER 31
CURRENT PRIOR
PROPRIETARY CAPITAL
-------------------
201 Common stock issued (Schedule XI) 1,000 1,000
211 Miscellaneous paid-in-capital (Schedule XI) 0 0
215 Appropriated retained earnings (Schedule XI) 0 0
216 Unappropriated retained 1,688 1,688
earnings (Schedule XI)
Total Proprietary Capital 2,688 2,688
LONG-TERM DEBT
--------------
223 Advances from associate 0 0
companies (Schedule XII)
224 Other long-term debt (Schedule XII) 0 0
225 Unamortized premium on long-term debt 0 0
226 Unamortized discount on long-term dbt-debit 0 0
Total Long-Term Debt 0 0
227 Obligations under capital 149,415 45,966
leases - non-current
CURRENT AND ACCRUED LIABILITIES
-------------------------------
231 Notes payable 0 0
232 Accounts payable 105,920 94,487
233 Notes payable to associate
companies (Schedule XIII) 596,925 269,328
234 Accounts payable to associate
companies (Schedule XIII) 763,934 668,956
236 Taxes accrued (8,933) 38,941
237 Interest accrued 0 0
238 Dividends declared 0 0
241 Tax collections payable (4,983) 0
242 Miscellaneous current and accrued
liabilities (Schedule XIII) 782,457 603,141
243 Obligations under capital leases - current 184,259 392,886
Total Current and Accrued Liabilities 2,419,579 2,067,739
DEFERRED CREDITS
----------------
253 Other deferred credits 0 0
255 Accumulated deferred investment tax credits 0 0
Total Deferred Credits 0 0
282 ACCUMULATED DEFERRED INCOME TAXES (495,248) (443,398)
TOTAL LIABILITIES AND PROPRIETARY CAPITAL 2,076,434 1,672,995
ANNUAL REPORT OF UNITIL SERVICE CORP.
FORM U-13-60
For the Year Ended December 31, 1994
SCHEDULE II - SERVICE COMPANY PROPERTY
BALANCE RETIREMENTS OTHER BALANCE
AT OR CHANGES 1/ AT CLOSE
DESCRIPTION BEGINNING ADDITIONS SALES 1/ OF YEAR
SERVICE COMPANY
PROPERTY
Account
301 ORGANIZATION
303 MISCELLANEOUS INTANGIBLE PLANT
304 LAND AND LAND RIGHTS
305 STRUCTURES AND IMPROVEMENTS
306 LEASEHOLD IMPROVEMENTS
307 EQUIPMENT 2/ 1,318,895 84,739 0 0 1,403,634
308 OFFICE
FURNITURE AND 479,169 151,823 0 0 630,992
EQUIPMENT
309 AUTOMOBILES,OTHER
VEHICLES AND
RELATED GARAGE
EQUIPMENT 93,721 12,267 (31,020) 0 74,968
310 AIRCRAFT AND
AIRPORT EQUIPMENT
311 OTHER SERVICE
COMPANY PROPERTY 3/
SUB-TOTAL 1,891,785 248,829 (31,020) 0 2,109,594
107 CONSTRUCTION
WORK IN
PROGRESS
TOTAL 1,891,785 248,829 (31,020) 0 2,109,594
1/ PROVIDE AN EXPLANATION OF THOSE CHANGES CONSIDERED MATERIAL:
ANNUAL REPORT OF UNITIL SERVICE CORP.
FORM U-13-60
For the Year Ended December 31, 1994
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:
SUBACCOUNT DESCRIPTION ADDITIONS BALANCE AT
CLOSE OF
YEAR
PC Equipment 84,739 1,403,634
TOTAL 84,739
3/ DESCRIBE OTHER SERVICE COMPANY PROPERTY:
NONE
4/ DESCRIBE CONSTRUCTION WORK IN PROGRESS:
NONE
ANNUAL REPORT OF UNITIL SERVICE CORP.
FORM U-13-60
For the Year Ended December 31, 1994
SCHEDULE III
ACCUMULATED PROVISION FOR DEPRECIATION AND
AMORTIZATION OF SERVICE COMPANY PROPERTY
BALANCE AT ADDITIONS OTHER
BEGINNING CHARGED CHANGES BALANCE AT
DESCRIPTION OF YEAR TO ACCOUNT RETIRE- ADD CLOSE OF
403 MENTS (DEDUCT)1/ YEAR
Account
301 ORGANIZATION
303 MISCELLANEOUS
INTANGIBLE PLANT
304 LAND AND LAND
RIGHTS
035 STRUCTURES
AND IMPROVEMENTS
306 LEASEHOLD
IMPROVEMENTS
307 EQUIPMENT 1,091,811 128,877 0 0 1,220,688
308 OFFICE
FURNITURE
AND EQUIPMENT 293,942 178,115 0 0 472,057
309 AUTOMOBILES,
OTHER
VEHICLES
AND RELATED
GARAGE
EQUIPMENT 47,229 46,211 (31,020) 0 62,420
310 AIRCRAFT
AND AIRPORT
EQUIPMENT
311 OTHER SERVICE
COMPANY PROPERTY
TOTAL 1,432,982 353,203 (31,020) 0 1,755,165
1/ PROVIDE AN EXPLANATION OF THOSE CHANGES CONSIDERED MATERIAL:
ANNUAL REPORT OF UNITIL SERVICE CORP.
FORM U-13-60
For the Year Ended December 31, 1994
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.
Under Account 136, "Temporary Cash Investments", list each
investment separately.
BALANCE AT BALANCE AT
BEGINNING CLOSE
DESCRIPTION OF YEAR OF YEAR
ACCOUNT 123 - INVESTMENT IN ASSOCIATE 0 0
COMPANIES
ACCOUNT 124 - OTHER INVESTMENTS 0 0
ACCOUNT 136 - TEMPORARY CASH INVESTMENTS 0 0
TOTAL 0 0
ANNUAL REPORT OF UNITIL SERVICE CORP.
FORM U-13-60
For the Year Ended December 31, 1994
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 accomodation or convenience payments for associate
companies, a separate listing of total payments for each
company, number of shares or principal amount associate
company by subaccount should be provided.
BALANCE BALANCE
AT AT
DESCRIPTION BEGINNING CLOSE
OF YEAR OF YEAR
ACCOUNT 146 - ACCOUNTS RECEIVABLE FROM
ASSOCIATE
Companies
Concord Electric Company 161,050 181,094
Exeter & Hampton 177,394 182,672
Electric Company
Fitchburg Gas and 297,508 357,969
Electric Light Company
UNITIL Power Corp. 98,044 151,957
UNITIL Realty Corp. 8,839 21,165
UNITIL Corporation 0 0
UNITIL Resources, Inc. 128,693 52,003
TOTAL 871,528 946,860
ANALYSIS OF CONVENIENCE OR ACCOMMODATION
PAYMENTS:
Concord Electric Company 717,519
Exeter & Hampton Electric Company 650,913
Fitchburg Gas and Electric Light Company 1,263,591
UNITIL Power Corp. 229,374
UNITIL Realty Corp. 43,175
UNITIL Corporation 222
UNITIL Resources, Inc. 15,974
For detail of convenience payments
by type and company, paid by UNITIL
Service Corp. see page 10A.
TOTAL PAYMENTS 2,920,768
ANNUAL REPORT OF UNITIL SERVICE CORP.
FORM U-13-60
For the year ended December 31, 1994
<TABLE>
<CAPTION>
CONVENIENCE PAYMENTS BY TYPE AND COMPANY
CECO E&H FG&E UPC URI URC UC TOTAL
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Insurance 199,781.62 196,450.49 393,987.07 96,710.44 512.59 6,560.15 0.00 894,002.36
Legal 163,278.83 75,605.59 257,862.43 98,914.21 15,382.28 35,500.08 0.00 646,543.42
Audit 41,624.00 41,624.00 90,859.00 33,436.00 0.00 1,085.00 0.00 208,628.00
Computer Equip/
Software/Maint 19,779.15 15,470.38 27,210.00 0.00 0.00 0.00 0.00 62,459.53
Demand Side Mgt. 16,208.05 20,775.13 16,166.10 0.00 0.00 0.00 0.00 53,149.28
Office Sup & Forms 20,054.99 25,642.15 21,864.49 30.09 30.09 30.09 0.00 67,651.90
Actuarial Services 19,665.50 19,613.50 26,757.00 0.00 0.00 0.00 0.00 66,036.00
Consulting Services 209,394.50 217,967.60 368,945.47 0.00 0.00 0.00 0.00 796,307.57
Miscellaneous 27,732.25 37,763.71 59,939.22 283.75 49.37 0.00 222.21 125,990.51
Total 717,518.89 650,912.55 1,263,590.78 229,374.49 15,974.33 43,175.32 222.21 2,920,768.57
</TABLE>
ANNUAL REPORT OF UNITIL SERVICE CORP.
FORM U-13-60
For the Year Ended December 31, 1994
SCHEDULE VI - FUEL STOCK EXPENSES UNDISTRIBUTED
INSTRUCTIONS: Report the amount of labor and
expenses incurred with respect
to fuel stock expense 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 EXPENSE TOTAL
ACCOUNT 152 - FUEL STOCK EXPENSE 0 0 0
UNDISTRIBUTED
TOTAL 0 0 0
SUMMARY:
ANNUAL REPORT OF UNITIL SERVICE CORP.
FORM U-13-60
For the Year Ended December 31, 1994
SCHEDULE VII - STORES EXPENSE UNDISTRIBUTED
INSTRUCTIONS: Report the amount of labor and expenses
incurred with respect stores expense during the
year and indicate amount attributable to each
associate company.
DESCRIPTION LABOR EXPENSE TOTAL
ACCOUNT 163 - STORES EXPENSE 0 0 0
UNDISTRIBUTED
TOTAL 0 0 0
ANNUAL REPORT OF UNITIL SERVICE CORP.
FORM U-13-60
For the Year Ended December 31, 1994
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
DESCRIPTION BEGINNING CLOSE
OF YEAR OF YEAR
ACCOUNT 174 - MISCELLANEOUS
CURRENT AND
ACCRUED ASSETS 0 0
TOTAL 0 0
ANNUAL REPORT OF UNITIL SERVICE CORP.
FORM U-13-60
For the Year Ended December 31, 1994
SCHEDULE IX - MISCELLANEOUS DEFERRED DEBITS
INSTRUCTIONS: Provide detail of items in this account. Items less
than $10,000 may be grouped by class showing the number
of items in each class.
BALANCE AT BALANCE AT
DESCRIPTION BEGINNING CLOSE
OF YEAR OF YEAR
ACCOUNT 186 - MISCELLANEOUS DEFERRED
DEBITS
Under/(over) collected 0 188,636
administrative expenses
Postage 10,439 20,561
Deferred relocation costs 98,765 295,268
Business Development 0 10,250
TOTAL 109,204 514,715
ANNUAL REPORT OF UNITIL SERVICE CORP.
FORM U-13-60
For the Year Ended December 31, 1994
SCHEDULE X
RESEARCH, DEVELOPMENT OR DEMONSTRATION EXPENDITURES
INSTRUCTIONS: Provide a description of each material research,
project which incurred costs by the service
corporation during the year.
BALANCE AT
DESCRIPTION CLOSE
OF YEAR
ACCOUNT 188 - RESEARCH, DEVELOPMENT OR
DEMONSTRATION EXPENITURES 0
TOTAL 0
ANNUAL REPORT OF UNITIL SERVICE CORP.
FORM U-13-60
For the Year Ended December 31, 1994
SCHEDULE XI - PROPRIETARY CAPITAL
PAR OR OUTSTANDING CLOSE
NUMBER OF STATED OF PERIOD
CLASS OF SHARES VALUE NO. OF TOTAL
ACCOUNT STOCK AUTHORIZED PER SHARE SHARES AMOUNT
NUMBER
201 COMMON 300 10 100 1,000
STOCK ISSUED
INSTRUCTIONS: Classify amounts in each account with brief
explanation, disclosing the general
nature of transactions which gave rise to the
reported amounts.
DESCRIPTION AMOUNT
ACCOUNT 211 - MISCELLANEOUS PAID-IN CAPITAL
ACCOUNT 215 - APPROPRIATED RETAINED EARNINGS
TOTAL 0
INSTRUCTIONS: Give particulars concerning net income or
(loss) during the year, distinguishing
between compensation for the use of capital
owned or net loss remaining from
servicing nonassociates per the General
Instructions of the Uniform System of
Accounts. For dividends paid during the year
in cash or otherwise, provide rate
percentage, amount of dividend, date declared
and date paid.
BALANCE NET BALANCE
AT INCOME AT
DESCRIPTION BEGINNING OR DIVIDENDS CLOSE
OF YEAR (LOSS) PAID OF YEAR
ACCOUNT 216 -
UNAPPROPRIATED
RETAINED
EARNINGS 1,688 0 0 1,688
TOTAL 1,688 0 0 1,688
ANNUAL REPORT OF UNITIL SERVICE CORP.
FORM U-13-60
For the Year Ended December 31, 1994
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 the obligation,date of maturity, interest
rate, and the amount authorized and outstanding.
<TABLE>
<CAPTION>
TERMS OF
OBLIG CLASS DATE BALANCE
NAME OF & SERIES OF INTEREST AMOUNT 1/ AT CLOSE
CREDITOR OF OBLIGATION MATURITY RATE AMORTIZED ADDITIONS DEDUCTIONS OF YEAR
<S> <C> <C> <C> <C> <C> <C>
ACCOUNT 223 - ADVANCES FROM
ASSOCIATE COMPANIES 0 0 0 0
ACCOUNT 224 - OTHER LONG-TERM DEBT: 0 0 0 0
0 0 0 0
1/ GIVE AN EXPLANATION OF DEDUCTIONS:
</TABLE>
ANNUAL REPORT OF UNITIL SERVICE CORP.
FORM U-13-60
For the Year Ended December 31, 1994
SCHEDULE XIII - CURRENT AND ACCRUED LIABILITIES
INSTUCTIONS: 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
ACCOUNT 233 - NOTES PAYABLE
TO ASSOCIATE COMPANIES
Money Pool 269,328 596,925
TOTAL 269,328 596,925
ACCOUNT 234 - ACCOUNTS
PAYABLE TO ASSOCIATE
COMPANIES
Concord Electric Company 18,729 375
Exeter & Hampton Electric 18,008 0
Company
Fitchburg Gas and Electric 35,296 0
Company
UNITIL Corporation (1) 596,923 763,559
(1) Balance consists of
KESOP for UNITIL Service
Employees only,
not subsidaries.
TOTAL 668,956 763,934
ACCOUNT 242 - MISCELLANEOUS
CURRENT AND ACCRUED
LIABILITIES
Accrued FASB 87 303,462 269,155
Accrued Supplemental 220,722 235,865
Executive Retirement Plan
Accrued Legal Fees 8,685 8,683
Accrued Annual Report 35,000 59,651
Accrued Pension Expense 18,000 0
Accrued FASB 106 13,713 23,601
Accrued FASB 106 - APBO 3,559 7,118
Accrued FASB 106 - Gain/Loss 0 (1,649)
Accrued Severance Cost 0 175,833
Accrued Miscellaneous Costs 0 4,200
TOTAL 603,141 782,457
ANNUAL REPORT OF UNITIL SERVICE CORP.
FORM U-13-60
For the Year Ended December 31, 1994
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.
Selected Notes to the Financial Statements:
UNITIL Service Corp. (USC), a wholly-owned subsidiary of
UNITIL Corporation, a public utility
parent company and its Securities and Exchange Commission
Accordingly, USC maintains Accounts for Mutual Service
February 2, 1979 statements in conformity with generally
accepted accounting principles.
Please refer to the 1994 UNITIL Corporation Form 10-K for additional
disclosures.
ANNUAL REPORT OF UNITIL SERVICE CORP.
FORM U-13-60
For the Year Ended December 31, 1994
SCHEDULE XV
STATEMENT OF INCOME
ACCOUNT DESCRIPTION CURRENT PRIOR
YEAR YEAR
INCOME
------
457 Services rendered to associate companies 7,843,330 7,469,721
458 Services rendered to nonassociate
companies 30,000 18,000
419 Interest Income 755 3,382
421 Miscellaneous income or loss 0 81
Total Income 7,874,085 7,491,184
EXPENSE
-------
920 Salaries and wages 4,470,936 4,260,037
921 Office supplies and expenses 492,906 513,543
922 Administrative expense
transferred - credit (188,635) 30
923 Outside services employed 268,496 262,112
924 Property insurance 2,090 2,169
925 Injuries and damages 45,943 36,337
926 Employee pensions and benefits 944,842 787,080
928 Regulatory commission expense 0 0
930.1 General advertising expense 23,840 16,467
930.2 Miscellaneous general expense 126,407 77,852
931 Rents 753,718 666,818
932 Maintenance of structures
and equipment 217,699 197,539
403 Depreciation and 341,618 385,751
amortization expense
408 Taxes other than income taxes 309,066 291,789
409 Income taxes 62,591 47,712
410 Provision for deferred (51,849) (94,674)
income taxes
411 Provision for deferred
income taxes - credit 0 0
411.5 Investment tax credit 0 0
426.1 Donations 788 500
426.5 Other deductions 172 404
427 Interest on long-term debt 0 0
430 Interest on debt to associate
companies 11,706 2,896
431 Other interest expense 41,751 36,822
Total Expense 7,874,085 7,491,184
Net Income or (Loss) 0 0
ANNUAL REPORT OF UNITIL SERVICE CORP.
FORM U-13-60
For the Year Ended December 31, 1994
ANALYSIS OF BILLING
ASSOCIATE COMPANIES
ACCOUNT 457
DIRECT INDIRECT COMPENSATION TOTAL
COSTS COSTS FOR USE AMOUNT
NAME OF ASSOCIATE CHARGED CHARGED OF CAPITAL BILLED
COMPANY
457-1 457-2 457-3
Concord Electric 817,393 726,796 0 1,544,189
Company
Exeter & Hampton 874,700 769,897 0 1,644,597
Electric Company
Fitchburg Gas and 1,579,529 1,431,170 0 3,010,699
Electric Light
Company
UNITIL Power Corp. 618,240 589,628 0 1,207,868
UNITIL Realty 19,934 19,415 0 39,349
Corp.
UNITIL Resources, 242,642 153,986 0 396,628
Inc.
TOTAL 4,152,438 3,690,892 0 7,843,330
ANNUAL REPORT OF UNITIL SERVICE CORP.
FORM U-13-60
For the Year Ended December 31, 1994
ANALYSIS OF BILLING
NONASSOCIATE COMPANIES
ACCOUNT 458
DIRECT INDIRECT COMPENSATION EXCESS
NAME OF COSTS COSTS FOR USE TOTAL OR TOTAL
NONASSOCIATE CHARGED CHARGED OF CAPITAL COST DEFICIENCY AMOUNT
COMPANY 457-1 457-2 457-3 458-4 BILLED
UNITIL 0 30,000 30,000 0 30,000
Retiree
Trust
Total 0 30,000 0 30,000 0 30,000
INSTRUCTIONS: Provide a brief description of the services
rendered to each nonassociate company.
UNITIL Retiree Trust - Professional services provided.
ANNUAL REPORT OF UNITIL SERVICE CORP.
FORM U-13-60
For the Year Ended December 31, 1994
<TABLE>
<CAPTION>
SCHEDULE XVI
ANALYSIS OF CHARGES FOR SERVICE
ASSOCIATE COMPANY AND NONASSOCIATE COMPANIES
DESCRIPTION OF ITEMS DIRECT INDIRECT DIRECT INDIRECT DIRECT INDIRECT
COST COST TOTAL COST COST TOTAL COST COST TOTAL
<S> <S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
920 SALARIES AND WAGES 3,887,381 553,555 4,440,936 30,000 30,000 3,887,381 583,555 4,470,936
921 OFFICE SUPPLIES AND EXPENSES 112,443 380,463 492,906 0 112,443 380,463 492,906
922 ADMIN EXPENSE TRANS-CREDIT (188,635) (188,635) 0 0 (188,635) (188,635)
923 OUTSIDE SERVICES EMPLOYED 268,496 268,496 0 268,496 268,496
924 PROPERTY INSURANCE 2,090 2,090 0 2,090 2,090
925 INJURIES AND DAMAGES 45,943 45,943 0 45,943 45,943
926 EMPLOYEE PENSIONS 944,842 944,842 0 944,842 944,842
AND BENEFITS
928 REGULATORY COMMISSION 0 0 0 0 0
EXPENSE
930.1 GENERAL ADVERTISING 23,840 23,840 0 23,840 23,840
EXPENSE
930.2 MISC. GENERAL EXPENSE 126,407 126,407 0 126,407 126,407
931 RENTS 127,146 626,572 753,718 0 127,146 626,572 753,718
932 MAINT. OF STRUCT.& EQUIP 26,917 190,782 217,699 0 190,782 217,699
403 DEPR. AND AMORT. EXPENSE 341,618 341,618 0 341,618 341,618
408 TAXES OTHER THAN INCOME 309,066 309,066 0 309,066 309,066
409 INCOME TAXES 62,591 62,591 0 62,591 62,591
410 PROV FOR DEF INC TAXES (51,849) (51,849) 0 (51,849) (51,849)
411 PROV FOR DEF INC TAX CREDIT 0 0 0 0
411.5 INVESTMENT TAX CREDIT 0 0 0 0
419 INTEREST INCOME (755) (755) 0 (755) (755)
426.1 DONATIONS 788 788 0 788 788
426.5 OTHER DEDUCTIONS 172 172 0 172 172
427 INTEREST ON LONG-TERM DEBT 0 0 0 0
431 OTHER INTEREST EXPENSE 41,751 41,751 0 41,751 41,751
INSTRUCTION:
Total cost of
service will equal for associate and
nonassociate companies the total
amount billed under their separate
analysis of billing schedules.
SUBTOTAL EXPENSES 4,153,887 3,677,737 7,831,624 0 30,000 30,000 4,153,887 3,707,737 7,861,624
COMPENSATION FOR USE OF
EQUITY CAPITAL 0 0 0
430 INTEREST ON DEBT TO 0 11,706 11,706 0 0 0 0 11,706 11,706
ASSOCIATE COMPANIES
TOTAL EXPENSES 4,153,887 3,689,443 7,843,330 0 30,000 30,000 4,153,887 3,719,443 7,873,330
421 MISCELLANEOUS INCOME 0 0 0 0 0 0 0 0
TOTAL COST OF SERVICE 4,153,887 3,689,443 7,843,330 0 30,000 30,000 4,153,887 3,719,443 7,873,330
</TABLE>
ANNUAL REPORT OF UNITIL SERVICE CORP.
FORM U-13-60
For the Year Ended December 31, 1994
SCHEDULE XVII
SCHEDULE OF EXPENSE DISTRIBUTION
BY
DEPARTMENT OR SERVICE FUNCTION
DEPARTMENT OR
SERVICE FUNCTION
TOTAL OVER- MARKET
AMOUNT HEAD PRICING ADMIN.
920 SALARIES AND WAGES 4,470,936 353,033 1,328,877
921 OFFICE SUPPLES AND 492,906 11,533 257,615
EXPENSES
922 ADMIN. EXPENSE (188,635)
TRANS-CREDIT
923 OUTSIDE SERVICES EMPLOYED 268,496 76,150 147,623
924 PROPERTY INSURANCE 2,090 2,090
925 INJURIES AND DAMAGES 45,943 45,943
926 EMPLOYEE PENSIONS AND 944,842 180 935,371
BENEFITS
928 REGULATORY COMMISSION 0
EXPENSE
930.1 GENERAL ADVERTISING 23,840 23,840
EXPENSE
930.2 MISC. GENERAL EXPENSE 126,407 4,441
931 RENTS 753,718 800,861
932 MAINT. OF STRUCT. & 217,699 136,179
EQUIP.
403 DEPR. AND AMORT. EXPENSE 341,618
408 TAXES OTHER THAN INCOME 309,066
409 INCOME TAXES 62,591
410 PROV. FOR DEF. INC. TAXES (51,849)
411 PROV. FOR DEF. INC. TAX 0
CREDIT
411.5 INVESTMENT TAX CREDIT 0
426.1 DONATIONS 788
426.5 OTHER DEDUCTIONS 172
427 INTEREST ON LONG-TERM DEBT 0
430 INTEREST ON DEBT TO 11,706
ASSOCIATE COMPANIES
431 OTHER INTEREST EXPENSE 41,751
INSTRUCTIONS: Indicate each
department or service function.
(See Instruction 01-3 General
Structure of Accounting
System Uniform System
Account.
TOTAL EXPENSES - 7,874,085 0 440,896 3,682,840
ANNUAL REPORT OF UNITIL SERVICE CORP.
FORM U-13-60
For the Year Ended December 31, 1994
SCHEDULE XVII
SCHEDULE OF EXPENSE DISTRIBUTION
BY
DEPARTMENT OR SERVICE FUNCTION
DEPARTMENT OR SERVICE FUNCTION
ACCOUNT ENERGY CUSTOMER
NUMBER ACCOUNTING RESOURCE DISTRIBUTION FINANCE AFFAIRS ENGINEERING TECHNOLOGY
920 587,802 624,486 240,063 460,974 120,076 256,568 499,057
921 12,559 34,851 19,652 17,196 6,890 18,755 113,855
922 (188,635)
923 2,536 27,827 14,360
924
925
926 6,440 600 643 1,608
928
930.1
930.2 121,966
931 (378,409) 4,711 9,874 3,387 313,294
932 12,519 360 68,641
403 341,618
408 309,066
409 62,591
410 (51,849)
411
411.5
426.1 788
426.5 172
427
430 11,706
431 41,751
717,198 664,048 269,589 682,020 127,609 279,070 1,010,815
ANNUAL REPORT OF UNITIL SERVICE CORP.
FORM U-13-60
For the Year Ended December 31, 1994
DEPARTMENTAL ANALYSIS OF SALARIES
ACCOUNT 920
DEPARTMENTAL SALARY EXPENSE
NAME OF INCLUDE IN AMOUNTS NUMBER
DEPARTMENT BILLED TO PERSONNEL
Indicate each TOTAL PARENT OTHER NON END OF
department AMOUNT COMPANY ASSOCIATES ASSOCIATES YEAR
or service
function
Market Pricing 353,033 0 353,033 0 9
Technology/
Data Management 499,057 0 499,057 0 17
Accounting 587,802 0 583,002 4,800 14
Finance 460,974 0 460,374 600 8
Administrative 1,328,877 0 1,305,177 23,700 15
Energy Resources 624,486 0 624,486 0 11
Engineering 256,568 0 256,568 0 6
Distribution 240,063 0 240,063 0 4
Customer Affairs 120,076 0 119,176 900 2
TOTAL 4,470,936 0 4,440,936 30,000 86
ANNUAL REPORT OF UNITIL SERVICE CORP.
FORM U-13-60
For the Year Ended December 31, 1994
OUTSIDE SERVICES EMPLOYED
ACCOUNT 923
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
FROM WHOM PURCHASED ADDRESS "NA"=NON AMOUNT
ASSOCIATE
Outside Services-Accounting
Various (1) NA 2,536
Outside Services - Consulting
Charles H. Tenney II 300 Friberg A 105,000
Parkway
Westborough, MA
Various (5) NA 23,979
-------
Total Outside 128,979
Services - Consulting
Outside Services -
Data Processing
Various (7) NA 14,957
Outside Services -Legal
LeBoeuf, Lamb, Greene 260 Franklin Street NA 99,515
& MacRae Boston, MA 02110-3173
Various (4) NA 4,125
-------
Total Outside 103,640
Services - Legal
Outside Services -
Other
Various (5) NA 18,384
TOTAL 268,496
ANNUAL REPORT OF UNITIL SERVICE CORP.
FORM U-13-60
For the Year Ended December 31, 1994
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
Health Insurance 233,464
Net Periodic Pension Expense 228,740
401 K 139,290
Life Insurance 66,782
Other 35,487
Supplemental Executive 53,448
Retirement Plan
FASB 106 11,798
Severance Costs 175,833
TOTAL 944,842
ANNUAL REPORT OF UNITIL SERVICE CORP.
FORM U-13-60
For the Year Ended December 31, 1994
GENERAL ADVERTISING EXPENSES
ACCOUNT 930.1
INSTRUCTIONS: Provide a listing of the amounts included in Account 930.1
"General Advertising Expenses", classifying the items
according to the nature of the advertising and as defined in
the account description. If a particular class includes an
amount 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
Recruiting JWG Associates, Inc. 23,376
Other 464
TOTAL 23,840
ANNUAL REPORT OF UNITIL SERVICE CORP.
FORM U-13-60
For the Year Ended December 31, 1994
MISCELLANEOUS GENERAL EXPENSES
ACCOUNT 930.2
INSTRUCTIONS: Provide a listing of the amount includedin Account 930.02
"Miscellaneous General Expense", 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. 441(b)(2)
shall be separately classified.
DESCRIPTION AMOUNT
Printing and Distribution of
Quarterly and Annual Reports 123,532
SEC Filing Fees 875
Company Dues 2,000
TOTAL 126,407
ANNUAL REPORT OF UNITIL SERVICE CORP.
FORM U-13-60
For the Year Ended December 31, 1994
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
Office Building 616,375
EDP Equipment 113,073
Miscellaneous 24,270
TOTAL 753,718
ANNUAL REPORT OF UNITIL SERVICE CORP.
FORM U-13-60
For the Year Ended December 31, 1994
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 and (2) U.S. Government taxes. Specify
each of the various kinds of taxes and show the amounts
there of. Provide a subtotal for each class of tax.
KIND OF TAX AMOUNT
Other than U.S.
Government Tax:
State Telephone & Telegram Tax 5,132
State Unemployment Tax - NH 15,395
------
20,527
U.S. Government Tax:
Federal Telephone & Telegram Tax 2,071
Federal Insurance Contribution Act 280,990
Federal Unemployment Tax 5,478
-------
288,539
TOTAL 309,066
ANNUAL REPORT OF UNITIL SERVICE CORP.
FORM U-13-60
For the Year Ended December 31, 1994
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
Aggregate 788
TOTAL 788
ANNUAL REPORT OF UNITIL SERVICE CORP.
FORM U-13-60
For the Year Ended December 31, 1994
OTHER DEDUCTIONS
ACCOUNT 426.5
INSTRUCTIONS: Provide a listing of the amountincluded in Account
426.5 "Other Deductions", classifying such expenses
according to their nature.
DESCRIPTION NAME OF PAYEE AMOUNT
Penalty Assessment Internal Revenue Service 138
Lobbying Expenses NH Society of CPA's 22
Lobbying Expenses American Institute of CPAs 12
TOTAL 172
ANNUAL REPORT OF UNITIL SERVICE CORP.
FORM U-13-60
For the Year Ended December 31, 1994
SCHEDULE XVIII
NOTES TO STATEMENT 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 page 19.
ANNUAL REPORT OF UNITIL SERVICE CORP.
FORM U-13-60
For the Year Ended December 31, 1994
ORGANIZATION CHART
See page 36A.
ANNUAL REPORT OF UNITIL SERVICE CORP.
FORM U-13-60
For the Year Ended December 31, 1994
ORGANIZATION CHART AS OF DECEMBER 31, 1994
POSITION NAME
President and Chief Executive Officer Stulgis
Senior Executive Vice President - Retail Business Dalton
Vice President - Engineering Appleton
Vice President - Customer Services Morrissey
Vice President - Distribution Aither
Senior Vice President - Energy Resources Daly
Vice President - Operations Foote
Assistant Vice President - Procurement Weiss
Senior Vice President - Financial & Central Siart
Vice President - Finance & Administration Collin
Controller Open
Assistant Vice President - Technology Smith
Senior Vice President - Business Development Gantz
Assistant Vice President - Market Pricing Stewart
Director - Market Develop Open
ANNUAL REPORT OF UNITIL SERVICE CORP.
FORM U-13-60
For the Year Ended December 31, 1994
METHODS OF ALLOCATION
See Page 37A
ANNUAL REPORT OF UNITIL SERVICE CORP.
FORM U-13-60
For the Year Ended December 31, 1994
METHODS OF ALLOCATION
The cost of services rendered by UNITIL Service are
allocated and billed based on direct time charges and to a lesser
extent, direct cost assigned to individual projects or jobs
performed on behalf of associated companies in accordance with
the general guidelines set forth below.
A. Direct Labor Cost - Gross Wages. Direct Labor Cost -
Gross Wages are based on the actual gross wage rates of
assigned employees multiplied by the actual number of hours
worked and directly charged to specific projects or jobs.
B. Direct Labor Cost - Other. Direct Labor Cost - Other
includes the costs of paid absences, such as vacations, sick
pay and holidays, and are allocated by employee based on the
direct time charged to associated companies. In the event
there are no direct time charges available for this
allocation, the direct time charges of all UNITIL Service
employees are used to make this allocation.
C. General Overhead Costs, including Indirect Labor.
General Overhead Costs represent UNITIL Service Indirect
Labor Costs and Administrative and General Expenses, and are
allocated based on a monthly overhead rate applied against
direct time charges. Indirect Labor Costs include pension
costs, insurance, payroll taxes, employee savings plan, and
similar payroll and benefit items. Administrative and
General Expenses are those administrative and operating
expenses incurred by UNITIL Service in providing services to
associated companies which cannot be identified with or
directly charged to a specific project or job.
D. Direct Charges. Direct Charges are costs that are
directly assignable based on the individual projects or jobs
performed on behalf of associated companies, and are excluded
from General Overheads. Direct Charges are billed at actual
cost and include: Employee Travel, Meals, Lodging, and Other
Related Expenses, Data Management Hardware Leases and
Maintenance Costs, Telephone Lease, and other miscellaneous
expenses.
ANNUAL REPORT OF UNITIL SERVICE CORP.
FORM U-13-60
For the Year Ended December 31, 1994
ANNUAL STATEMENT OF COMPENSATION FOR USE OF CAPITAL BILLED
Non applicable
ANNUAL REPORT OF UNITIL SERVICE CORP.
FORM U-13-60
For the Year Ended December 31, 1994
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,
UNITIL Service Corp.
(Name of Reporting Company)
By: Mark H. Collin
-----------------------------
(Signature of Signing Officer)
Mark H. Collin, Vice President and Treasurer
(Printed Name and Title of Signing Officer)
Date: April 25, 1995
<TABLE> <S> <C>
<ARTICLE> OPUR2
<SUBSIDIARY>
<NUMBER> 07
<NAME> UNITIL Service Corp.
<FISCAL-YEAR-END> DEC-31-1994
<PERIOD-END> DEC-31-1994
<PERIOD-TYPE> YEAR
<BOOK-VALUE> PER-BOOK
<S> <C>
<NET-SERVICE-COMPANY-PROPERTY> 354,429
<TOTAL-INVESTMENTS> 0
<TOTAL-CURRENT-ASSETS> 982,520
<TOTAL-DEFERRED-DEBITS> 739,485
<OTHER-ASSETS-AND-DEBITS> 0
<TOTAL-ASSETS-AND-DEBITS> 2,076,434
<TOTAL-PROPRIETARY-CAPITAL> 2,688
<TOTAL-LONG-TERM-DEBT> 0
<NOTES-PAYABLE> 0
<NOTES-PAYABLE-ASSOCIATE-COMP> 596,925
<OTHER-CURR-AND-ACCRUED-LIAB> 1,972,069
<TOTAL-DEFERRED-CREDITS> 0
<DEFERRED-INCOME-TAX> (495,248)
<TOT-LIABIL-AND-PROPRIET-CAP> 2,076,434
<SERVICES-ASSOCIATE-COMPANIES> 7,843,330
<SERVICES-NON-ASSOCIATE-COMP> 30,000
<MISC-INCOME-OR-LOSS> 755
<TOTAL-INCOME> 7,874,085
<SALARIES-AND-WAGES> 4,470,936
<EMPLOYEE-PENSION-AND-BENEFIT> 944,842
<OTHER-EXPENSES> 2,458,307
<TOTAL-EXPENSES> 7,874,085
<NET-INCOME> 0
<TOTAL-EXPENSES-DIRECT-COST> 4,153,887
<TOTAL-EXPENSES-INDIRECT-COST> 3,720,198
<TOT-EXP-DIRECT-AND-INDIRECT> 7,874,085
<PERSONNEL-END-OF-YEAR> 86
</TABLE>
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