SECURITIES AND EXCHANGE COMMISSION
----------------------------------
Washington, D.C. 20549
FORM 8-K
--------
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date Report (Date of earliest event reported) February 17, 1998
BONNEVILLE PACIFIC CORPORATION
------------------------------
(Exact name of registrant as specified in charter)
Delaware 0-14846 87-0363215
- -----------------------------------------------------------------------------
(State or other (Commission (IRA Employer
jurisdiction of File Number) Identification No.)
incorporation)
50 West 300 South, Suite 300, Salt Lake City, Utah 84101
- -----------------------------------------------------------------------------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number including area code (801) 363-2520
--------------
(Former name or former address, if changed since last report) Not applicable
--------------
<PAGE>
Item 3. Bankruptcy or Receivership.
- ------ --------------------------
On December 5, 1991, the Registrant filed a petition in the United
States Bankruptcy Court for the District of Utah, Central Division, Case
No. 91A-27701, seeking protection to reorganize under Chapter 11 of the
Federal Bankruptcy Code. Subsequent to the filing, the Registrant has
applied to the Securities and Exchange Commission (the "Commission") to
modify its reporting obligations under the Securities Exchange Act of 1934, as
amended (the "Exchange Act"). On April 9, 1992, the Commission indicated
that it would raise no objection if the Registrant modified its reporting
obligations under the Exchange Act. A copy of the Monthly Financial Report
for the period January 1, 1998 to January 31, 1998, as filed with the
bankruptcy court is included as an exhibit hereto. On June 12, 1992,
Roger G. Segal was appointed as the Chapter 11 Bankruptcy Trustee for the
Company.
Item 5. Other Events.
- ------ ------------
For information on litigation and matters previously reported, refer to
the narrative on pages Form 2-G of the accompanying bankruptcy report.
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused its report to be signed on its behalf by the
undersigned thereunto duly authorized.
BONNEVILLE PACIFIC CORPORATION
/s/ Roger G. Segal
By: Roger G. Segal, Chapter 11 Trustee
DATED February 17, 1998
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused its report to be signed on its behalf by the
undersigned thereunto duly authorized.
BONNEVILLE PACIFIC CORPORATION
/s/ R. Stephen Blackham
By: R. Stephen Blackham, Assistant Controller
DATED February 17, 1998
<PAGE>
INDEX TO EXHIBITS
Exhibit Page No.
- -----------------------------------------------------------------------------
28.1 Monthly Financial Report - Chapter 11, for
the period January 1, 1998 to January 31,
1998, of the Registrant, dated
February 17, 1998 as filed by the
Registrant with the United States Bankruptcy
Court for the District of Utah, Central
Division on February 17, 1998. . . . . . . . . . . . . . 5
<PAGE>
MONTHLY FINANCIAL REPORT
CHAPTER 11
DEBTOR: BONNEVILLE PACIFIC CORPORATION
------------------------------
CASE NO. 91A-27701 For Period January 1 to January 31, 1998
--------- --------- ----------------
Accounting Method Used: [X] Accrual Basis [ ] Cash Basis
COVER SHEET
- -----------------------------------------------------------------------------
THIS REPORT IS DUE 15 DAYS AFTER THE END OF THE
Mark One Box For MONTH. The debtor must attach each of the following
Each Required reports/documents unless the U.S. Trustee has waived
Report/Document the requirement in writing. File original with
Clerk of Court. File duplicate with U.S. Trustee.
- -----------------------------------------------------------------------------
Report/
Document Previously
Attached Waived REQUIRED REPORTS/DOCUMENTS
- -----------------------------------------------------------------------------
[X] [ ] Cash Receipts & Disbursements Statement (Form 2-B)
[X] [ ] Balance Sheet (Form 2-C)
[X] [ ] Profit and Loss Statement (Form 2-D)
[X] [ ] Supporting Schedules (Form 2-E)
[X] [ ] Quarterly Fee Summary (Form 2-F)
[X] [ ] Narrative (Form 2-G)
[X] [ ] Bank Statement(s) for Debtor in Possession Account(s)
- -----------------------------------------------------------------------------
I declare under penalty of perjury that the following Monthly Financial
Report and anyattachments thereto, is true and correct to the best of my
knowledge and belief.
Executed on: February 17, 1998
-----------------
Debtor(s): BONNEVILLE PACIFIC CORPORATION
/s/ R. Stephen Blackham
By: R. Stephen Blackham
Position: Assistant Controller
<PAGE>
Statement of Chapter 11 Trustee
Roger G. Segal, Chapter 11 Trustee of the bankruptcy case of Bonneville
Pacific Corporation, having been so appointed on June 12, 1992, hereby states
that he has reviewed the following Monthly Financial Report and any
attachments thereto and that, based on his review and the representations of
officers and employees of the debtor, Bonneville Pacific Corporation, he
believes that the information contained in the Monthly Financial Report and
attachments is true and correct. However, neither Roger G. Segal, Chapter 11
Trustee, nor Neilson, Elggren, Durkin & Company, as accountants for Roger G.
Segal, Chapter 11 Trustee, has had an opportunity to independently verify
that the information contained in the following Monthly Financial Report
and the attachments thereto is true and correct.
DATED this 17th day of February 1998.
/s/ Roger G. Segal
By: Roger G. Segal, Chapter 11 Trustee
<PAGE>
DEBTOR: BONNEVILLE PACIFIC CORPORATION
Bankruptcy No. 91A-27701
Narrative
For the Month Ended January 31, 1998
Form 2-G
- -----------------------------------------------------------------------------
Bonneville Pacific Corporation (the "Company" or "Bonneville") has continued
to conduct its normal business activities during the month of January 1998
(the reporting period). These activities have included responding to the
Operating Guidelines and Reporting Requirements for Chapter 11 debtors.
Significant actions related to the Company during the month of January and
the first part of February 1998(1) (other than administrative matters,
including professional fee applications) in accordance with various
provisions of the Bankruptcy Code are as follows:
The SEGAL V. PORTLAND GENERAL, ET AL. action pending in the United
States District Court, Case No. 92-C-364-J (the "Litigation") has been
discussed at length in the previous Monthly Financial Reports filed by
the Trustee and in the Trustee's five (5) Annual Reports, including the
Report for the period of July 1, 1996 through June 30, 1997 filed on
September 4, 1997 concerning the Administration of the Estate. These
Reports (which are on file with both the Bankruptcy Court and the United
States Securities & Exchange Commission) must be reviewed for an
understanding of the history and nature of the Litigation, including
previous settlements(2) reached by the Trustee. The Litigation has been
concluded.
- ---------------
(1) This narrative attempts to summarize significant events affecting the
Company through February 13, 1998.
(2) Each settlement agreement should be reviewed in its entirety for all
terms and conditions (and consideration) of the settlement.
<PAGE>
The Trustee has also entered into "tolling agreements" with certain
persons which agreements toll the running of any applicable statute of
limitation which might otherwise bar the Trustee from initiating suit
against such person. The Trustee is considering possible claims against
only one (1) individual who executed a tolling agreement. If the
Trustee is not able to settle possible claims held by the estate against
such person, then in the next few months the Trustee, through his special
litigation counsel, may commence additional litigation. In the Trustee's
opinion, the value of the "tolled" claims is not substantial.
On December 1, 1997, the Trustee filed a Motion for Authority to
Terminate the Debtor's ESOP and Distribute its Assets among the ESOP's
199 Participants, all of whom are past and/or present employees of the
Debtor and its subsidiaries. A hearing on the Motion was held as
scheduled on January 12, 1998 at which hearing the Court approved the
Motion. The Company, the ESOP Trustee and the Trustee are proceeding
with the action necessary to terminate the ESOP and to distribute the
ESOP assets to the qualified participants. The assets of the ESOP that
will be distributed to the participants includes an allowed, pre-
petition $984,245.47 Section 510(b) equity claim against the Company
arising from the ESOP's purchase of the Company's common stock.
The Trustee and his counsel continue to monitor the Company's 50% general
partnership interest in NCA #1 owned through the Company's wholly owned
subsidiary, Bonneville Nevada Corporation. NCA #1 is a Nevada general
partnership that owns an 85-megawatt cogeneration project located near
Las Vegas, Nevada. As previously reported, Nevada Power Company ("NPC")
has previously curtailed purchases of electrical power from NCA #1.
However, there have been no curtailments since October of 1996. NCA #1
and representatives of NPC have reached a settlement agreement relating
to curtailment issues, which settlement is subject to the approval of the
Projects Lending Group and the Public Service Commission of Nevada
("PSCN"). The Projects Lending Group has approved the Settlement
Agreement and the Petition for Approval of the Settlement was filed on
November 3, 1997 with the Public Service Commission of Nevada. A
scheduling conference has now been held concerning the Petition filed
with the Public Service Commission and a schedule set, which schedule
includes formal hearings on the Petition before the Public Service
Commission, on April 6 through April 8, 1998. The Trustee and his
counsel continue to monitor the appeal before the First Judicial
District Court of the State of Nevada of curtailment protocols issued by
the Public Service Commission of Nevada. A stipulation staying the
briefing schedule and permitting the PSCN to consider the approval of
the above referenced settlement agreement has been signed and filed by
the parties.
On September 27, 1996, NCA #1 was served with Findings and Notices of
Violation issued by Region IX of the United States Environmental
Protection Agency (the "EPA") for alleged violations of the Clean Air
Act's Prevention of Significant Deterioration program applicable for the
State of Nevada. Specifically, EPA alleges that NCA #1, contrary to
applicable operating permits, failed to timely install "Best Available
Control Technology" at the plant in the form of a selective catalytic
reduction system to control NOx emissions. Management of NCA#1 has
<PAGE>
disputed the EPA's claims. Representatives of both sides of this
dispute have reached an agreement in principle. Attorneys for the EPA
have recently submitted a revised draft of a proposed agreement ("Consent
Decree") which is now being reviewed by representatives of NCA#1 and
which the parties anticipate will be finalized and signed sometime later
this year.
On August 20, 1996 the Trustee filed a Motion for Establishment of a
Supplementary Claims Bar Date seeking to set December 16, 1996 as the
supplementary claims bar date by which all creditors of Bonneville who had
not previously been adequately notified to file claims must complete and file
a proof of claim with the Clerk of the Bankruptcy Court. The Trustee
believes that most of the new claims which have been filed relate to possible
claims against Bonneville arising out of the purchase or sale of its
securities. See 11 U.S.C. Section 510(b). A hearing on the Motion was
scheduled before the Bankruptcy Court on September 10, 1996. No objections
to the Motion were filed and at the hearing the Court granted the Motion and
signed an order establishing the supplementary claims bar deadline.
Consequently, the Trustee proceeded with the action authorized by the order
granting the Motion; specifically, notice was sent to thousands of potential
claimants and notice was published in newspapers of general circulation
throughout the United States. Through December 16, 1996 approximately 4,000
new proofs of claim were filed with the Bankruptcy Court and approximately 370
additional claims have been filed since December 16, 1996. A total of 4,619
proofs of claims have now been filed. The Trustee has completed his initial
review of each of the claims. See the Trustee's Preliminary Report (Estimate)
Concerning Claims Filed Against the Estate filed on or about March 17, 1997
and the Annual Report for the period July 1, 1996 through June 30, 1997 filed
by the Trustee on September 4, 1997. For updated figures on some of the
claims see the "Conditional Letter Agreement" dated December 31, 1997 which was
filed with the Bankruptcy Court on December 31, 1997 and was filed with the
United States Securities & Exchange Commission (in a Form 8K) on or about
January 5, 1998 and also see Note Number 3 to the herewith attached Financial
Statement. The Trustee has objected to (with most of the objections having
been sustained by the Bankruptcy Court) and will likely continue to object to
a number of the new claims which have been filed. The Trustee on
November 13, 1997 filed an objection to certain claims filed after the
supplementary claims bar date and a hearing on the objection was held as
scheduled on December 15, 1997; at the hearing the Court (a) sustained the
Trustee's objection with regard to 55 claims and disallowed such claims in
their entirety, and (b) allowed as timely filed an additional 88 claims that
were the subject of the objection.
The Company completed preparation of its U.S. Corporate Income Tax Return for
the short year December 31, 1996, which tax return was filed on
September 15, 1997 with a letter request pursuant to 11 U.S.C. Section 505 (b)
for a determination of any tax owing. The Internal Revenue Service, by
letter dated October 8, 1997, notified the Trustee that the tax return for
the short year (beginning May 1, 1996 and ending December 31, 1996) was
accepted as filed. The Company's net operating loss carry forward for
federal corporate income tax purposes as set forth in the Company's U.S.
Corporate Income Tax Return for the period ending December 31, 1996 is only
approximately $3,488,000.00. The Trustee and his tax professionals have
completed an analysis of the Company's 1997 federal income tax situation and
the preliminary conclusion is that the only federal tax liability for tax year
<PAGE>
ending December 31, 1997 is likely to be a relatively small amount of
alternative minimum tax; however, neither the Trustee nor his tax
professionals can or do make any representations concerning this preliminary
conclusion as the Company's federal income tax return is subject to review by
the Internal Revenue Service.
For future tax years, to the extent the Company may possess net operating
loss carry forwards, the Trustee and his tax professionals have preliminarily
concluded that such net operating loss carry forwards may be substantially
restricted by virtue of the provisions of Section 382 of the Internal Revenue
Code.
In preparation for the possible reorganization of the Company, the Trustee on
behalf of the Company made a decision to employ Hein + Associates, a national
accounting firm, to prepare audited financial statements for Bonneville
Pacific Corporation. An application seeking approval of the employment was
filed and hearing on the application was held as scheduled on December 20,
1996. At the hearing the Court approved the application. Hein + Associates
has been employed and has completed most of the work required for the audits
for years 1994, 1995, 1996 and will soon commence work on an audit for 1997.
After lengthy negotiations with various parties-in-interest, on December 31,
1997 the Trustee entered into a "Conditional Letter Agreement" (hereafter the
"CLA") with certain creditors of the Company. A copy of the CLA was filed
with the Bankruptcy Court on December 31, 1997 and with the United States
Securities and Exchange Commission (in the form of an 8K) on or about
January 5, 1998. The CLA sets forth some of the terms of a Chapter 11 plan
for the Company that will be proposed by the Trustee in the future. Such
Chapter 11 plan, if confirmed by the Bankruptcy Court, would resolve most of
the legal and factual disputes which currently affect the Company. The CLA
also sets forth the treatment that will be accorded to most of the creditors
of the Company in the proposed Chapter 11 plan to be filed by the Trustee.(3)
The CLA must be read in its entirety for all the provisions of the conditional
settlement. The CLA is conditioned upon approval by the Bankruptcy Court in
the context of a Chapter 11 plan confirmation process; such process includes
the approval by the Bankruptcy Court of a disclosure statement; until a
disclosure statement has been approved by the Bankruptcy Court, no party-in-
interest may solicit the acceptance or rejection of any plan. If the
Bankruptcy Court does not confirm the proposed Chapter 11 plan to be
submitted by the Trustee for the Company, then the CLA will be void. Any
Chapter 11 plan for the Company must first be
- ---------------
(3) One of the issues conditionally resolved in the CLA, subject to
Bankruptcy Court approval in the context of the plan confirmation
process, is the amount of post-petition interest to be paid on the
approximately $100 million in senior (pre-petition) debt. On
December 12, 1997 (a date prior to the execution of the CLA), C. Derek
Anderson initiated (and later served) an adversary proceeding in the
Bankruptcy Court against one of the senior creditors, Halcyon/Alan B.
Slifka Management Co., seeking a judgment declaring that senior
creditors are not entitled to any (or limited) post-petition interest
(Adversary Proceeding No. 97PA-2396). In light of the CLA, the Trustee
has moved to intervene in the Adversary Proceeding and, if the motion to
intervene is granted, will then move to dismiss the complaint because the
Trustee believes that the post-petition interest issue is better resolved
in the plan confirmation process instead of in an adversary proceeding
which involves only two parties-in-interest. A hearing on the Trustee's
Motion to Intervene is currently scheduled on March 2, 1998. In
addition Halcyon, Alan B. Slifka Management & Co. has filed a Motion to
Dismiss.
<PAGE>
approved (and confirmed) by the Bankruptcy Court after full notice and hearing
(with an opportunity for any party-in-interest to object) before any plan can
become effective. The Trustee believes that the settlement reflected in the
CLA is fair, reasonable and is in the best interest of the Company, its
creditors and stockholders as the Trustee's proposed Chapter 11 plan would, if
confirmed by the Bankruptcy Court, permit the Company to emerge from its
bankruptcy proceeding sometime in 1998. The Trustee intends to file his
Chapter 11 Plan and Disclosure Statement sometime within the next few weeks.
In light of the CLA and the Trustee's previously stated opinion, based upon
the particular facts involved in the Company's bankruptcy proceeding, that
the Company will be required to pay some interest on the approximately
$100,000,000.00 in "senior" bank, trade and current debenture debt, the
Trustee has reflected on the Company's books and intends to reflect in the
Company's Corporate Income Tax Returns for the year ended December 31, 1997
the interest liability on the approximate $100,000,000.00 of "senior" claims
from the petition date at the rates of interest set forth in the CLA.
On or about January 5, 1998, the Bankruptcy Court approved a settlement
between the Trustee and San Diego County (California) concerning a dispute
over the property taxes owed by the Company relating to the Company's Kyocera
Power Project. Pursuant to the settlement, on or about January 12, 1998 the
Company paid San Diego County the sum of $120,000.00 in complete satisfaction
of all property taxes related to the Kyocera Power Project, including but
not limited to property taxes for the period from July 1, 1993 through
June 30, 1998.
Bear, Stearns & Company (the Trustee's financial advisor/investment banker)
has completed its initial work in valuing the Company's (and its affiliates')
business assets. The Trustee will not make public the valuation work
performed by Bear, Stearns & Company until such time as the Trustee completes
his proposed disclosure statement which will be filed along with his proposed
Chapter 11 plan. However, in part based upon the valuation work of Bear,
Stearns & Company, the Trustee is of the opinion that the book value of the
Company's business assets, which is the value used on the Company's balance
sheet which is included in these Monthly Financial Statements filed with the
Bankruptcy Court (under the category "Other Assets: Investment in and
advances to subsidiaries and partnership") is materially less than the
current fair market value of such business assets.
The Trustee has employed the law firm of Weil, Gotshal & Manges, L.L.P., with
its principal office in New York City, as Special Plan Counsel. The purpose
of the employment includes, but is not limited to, advising the Trustee
concerning tax issues and assisting the Trustee and his General Counsel
concerning a plan of reorganization and issues relating thereto.
<PAGE>
DEBTOR: BONNEVILLE PACIFIC CORPORATION
Case No. 91A-27701
Cash Receipts and Disbursements Statement
For Period January 1 -January 31, 1998
- -----------------------------------------------------------------------------
CASH RECONCILIATION
1. Beginning Cash Balance: $150,463,645.26
2. Cash Receipts: (See Page 2 of 2) 859,272.57
3. Cash Disbursements: (See Page 2 of 2) (377,740.24)
----------
4. Net Cash Flow: 481,532.33
----------
5. Ending Cash Balance: $150,945,177.59
===============
CASH ACCOUNT SUMMARY - ENDING BALANCES
<TABLE>
<CAPTION>
ACCOUNT AMOUNT FINANCIAL INSTITUTION
<S> <C> <C> <C>
PAYROLL ACCOUNT $339.23 FIRST SECURITY BANK OF UTAH
PAYROLL TAX ACCOUNT 525.79 KEY BANK OF UTAH
GENERAL CORP CASH 385,516.88 KEY BANK OF UTAH
CHPTR 11 TRUSTEE JOINT ACCT 2,872,218.18 (A) KEY BANK OF UTAH
CHPTR 11 TRUSTEE - CD ACCT 11,413,297.67 (A) US BANK
CHPTR 11 TRUSTEE - JT CD 14,946,047.19 (A) KEY BANK OF UTAH
CHPTR 11 TRUSTEE - JT CD 26,751,932.03 (A) BANK ONE
CHPTR 11 TRUSTEE JT SAVINGS 20,578.15 (A) BANK ONE
CHPTR 11 TRUSTEE JOINT MMA ACCT 94,441,128.81 (A) NATIONS BANK
PROCEEDS FROM ASSET SALES 4,122.40 (A) KEY BANK OF UTAH
KYOCERA MAINTENANCE RESERVE 109,471.26 KEY BANK OF UTAH
----------
$150,945,177.59
===============
</TABLE>
(A) Accounts requiring signatures of both the US Trustee and Chapter 11
Trustee for disbursements.
Form 2-B
Page 1 of 2
<PAGE>
DEBTOR: BONNEVILLE PACIFIC CORPORATION
Case No. 91A-27701
Cash Receipts and Disbursements Statement
For Period January 1 - January 31, 1998
- -----------------------------------------------------------------------------
CASH RECEIPTS JOURNALS
<TABLE>
<CAPTION>
BANK ACCOUNT TOTAL PAGE REF
<S> <C> <C>
PAYROLL ACCOUNT $25,751.91 A
PAYROLL TAX ACCOUNT 16,939.60 B
GENERAL CORP CASH 230,769.01 C
CHPTR 11 TRUSTEE JOINT ACCT 10,904.31 E
CHPTR 11 TRUSTEE - CD ACCT 0.00 N/A
CHPTR 11 TRUSTEE - JT CD 128,422.23 F
CHPTR 11 TRUSTEE - JT CD 75,284.54 G
CHPTR 11 TRUSTEE JT SAVINGS 4,402.97 H
CHPTR 11 TRUSTEE JOINT MMA ACCT 408,853.67 I
PROCEEDS FROM ASSET SALES 11.36 J
KYOCERA MAINTENANCE RESERVE 10,624.48 K
---------
911,964.08
LESS: ACCOUNT TRANSFERS (52,691.51)
---------
TOTAL CASH RECEIPTS $859,272.57
===========
</TABLE>
CASH DISBURSEMENTS JOURNALS
<TABLE>
<CAPTION>
BANK ACCOUNT TOTAL PAGE REF
<S> <C> <C>
PAYROLL ACCOUNT $25,778.65 A
PAYROLL TAX ACCOUNT 16,939.60 B
GENERAL CORP CASH 316,113.05 D
CHPTR 11 TRUSTEE JOINT ACCT 43.00 E
CHPTR 11 TRUSTEE - CD ACCT 0.00 N/A
CHPTR 11 TRUSTEE - JT CD 0.00 F
CHPTR 11 TRUSTEE - JT CD 0.00 G
CHPTR 11 TRUSTEE JT SAVINGS 0.00 H
CHPTR 11 TRUSTEE JOINT MMA ACCT 0.00 I
PROCEEDS FROM ASSET SALES 0.00 J
KYOCERA MAINTENANCE RESERVE 71,557.45 K
---------
430,431.75
LESS: ACCOUNT TRANSFERS (52,691.51)
---------
TOTAL CASH DISBURSEMENTS $377,740.24
===========
Form 2-B
Page 2 of 2
<PAGE>
DEBTOR: BONNEVILLE PACIFIC CORPORATION
Case No. 91A-27701
Payroll Account
For Period January 1 - January 31, 1998
- -----------------------------------------------------------------------------
CASH RECEIPTS JOURNAL
</TABLE>
<TABLE>
<CAPTION>
DATE DOC # PAYOR AMOUNT DESCRIPTION
<S> <C> <C> <C> <C>
01/13/98 CK# 6769 BPC - GENERAL $16,092.35 PAYROLL TRANSFER
01/28/98 CK# 6800 BPC - GENERAL 9,659.56 PAYROLL TRANSFER
--------
TOTAL CASH RECEIPTS $25,751.91
==========
</TABLE>
CASH DISBURSEMENTS JOURNAL
<TABLE>
<CAPTION>
DATE DOC # PAYEE AMOUNT DESCRIPTION
<S> <C> <C> <C> <C>
01/15/98 PAYROLL SUMMARY $16,092.35
01/31/98 PAYROLL SUMMARY 9,659.56
01/31/98 BANK STMT KEY BANK OF UTAH 26.74 SERVICE CHARGE
-----
TOTAL CASH DISBURSEMENTS $25,778.65
==========
</TABLE>
A
<PAGE>
DEBTOR: BONNEVILLE PACIFIC CORPORATION
Case No. 91A-27701
Payroll Tax Account
For Period January 1 - January 31, 1998
- -----------------------------------------------------------------------------
CASH RECEIPTS JOURNAL
<TABLE>
<CAPTION>
DATE DOC # PAYOR AMOUNT DESCRIPTION
<S> <C> <C> <C> <C>
01/13/98 CK# 6770 BPC - GENERAL $11,607.29 PR TAX TRANSFER
01/19/98 CK# 6795 BPC - GENERAL 256.77 PR TAX TRANSFER
01/28/98 CK# 6811 BPC - GENERAL 5,075.54 PR TAX TRANSFER
--------
TOTAL CASH RECEIPTS $16,939.60
==========
</TABLE>
CASH DISBURSEMENTS JOURNAL
<TABLE>
<CAPTION>
DATE DOC # PAYEE AMOUNT DESCRIPTION
<S> <C> <C> <C> <C>
01/06/98 CK# 1253 UTAH WORKFORCE SERVICES $242.34 STATE UNEMPLOYMENT
01/15/98 KEY TAX KEY BANK OF UTAH 14.43 FEDERAL UNEMPLOYMENT
01/15/98 KEY TAX KEY BANK OF UTAH 10,099.62 FEDERAL TAX DEPOSIT
01/15/98 KEY TAX KEY BANK OF UTAH 4,350.44 FEDERAL TAX DEPOSIT
01/28/98 CK# 1254 UTAH ST TAX COMMISSION 2,232.77 STATE TAX DEPOSIT
--------
TOTAL CASH DISBURSEMENTS $16,939.60
==========
</TABLE>
B
<PAGE>
DEBTOR: BONNEVILLE PACIFIC CORPORATION
Case No. 91A-27701
General Corp Cash
For Period January 1 - January 31, 1998
- -----------------------------------------------------------------------------
CASH RECEIPTS JOURNAL
<TABLE>
<CAPTION>
DATE DOC # PAYOR AMOUNT DESCRIPTION
<S> <C> <C> <C> <C>
01/02/98 DS010298 W. JOHNSON $100,000.00 SETTLEMENT PAYMENT
01/09/98 DS010998 C. MOWER 50.11 EXPENSE REIMBURSEMENT
01/09/98 DS010998 US BANK 50,235.39 INTEREST INCOME
01/30/98 DS013098 SEDGWICK 250.00 EXPENSE REIMBURSEMENT
01/30/98 DS013098 CSC 1,100.40 EXPENSE REIMBURSEMENT
01/30/98 DS013098 SAN DIEGO GAS & ELECTRIC 1,572.39 ENERGY REVENUE-KYOCERA
01/30/98 DS013098 C. MOWER 29.67 EXPENSE REIMBURSEMENT
01/30/98 DS013098 US BANK 75,656.53 INTEREST INCOME
01/31/98 BANK STMT KEY BANK OF UTAH 1,874.52 INTEREST INCOME
--------
TOTAL CASH RECEIPTS $230,769.01
===========
</TABLE>
C
<PAGE>
DEBTOR: BONNEVILLE PACIFIC CORPORATION
Case No. 91A-27701
General Corp Cash
For Period January 1 - January 31, 1998
- -----------------------------------------------------------------------------
CASH DISBURSEMENTS JOURNAL
<TABLE>
<CAPTION>
DATE DOC # PAYEE AMOUNT DESCRIPTION
<S> <C> <C> <C> <C>
01/05/98 1006748 INTERNAL REVENUE SERVICE $16,028.36 PENALTY & INTEREST FYE 12/96
01/06/98 1006749 AIRBORNE EXPRESS 29.94 EXPRESS MAIL EXPENSE
01/06/98 1006750 AMPCO SYSTEM PARKING 134.00 RENT-PARKING
01/06/98 1006751 BONNEVILLE PACIFIC SERVICES 5,635.49 KYOCERA-O&M EXPENSE
01/06/98 1006752 BPC-KYOCERA MAINT RESERVE 10,000.00 TRANSFER-MAINT RESERVE
01/06/98 1006753 MARCIA CUSTER 107.23 EXPENSE REIMBURSEMENT
01/06/98 1006754 DORN ASSOCIATES LTD 12,573.00 RENT-OFFICE SPACE & PARKING
01/06/98 1006755 FIDELITY TRANSFER COMPANY 700.00 OFFICE SUPPLIES & EXPENSE
01/06/98 1006756 FIRST CONTINENTAL LIFE & ACCIDENT 3,162.97 INSURANCE-DENTAL
01/06/98 1006757 FRONTIER COMMUNICATIONS SRVCS 420.15 TELEPHONE EXPENSE
01/06/98 1006758 GENERATOR POWER SYSTEMS INC 16,510.46 KYOCERA-O&M EXPENSE
01/06/98 1006759 GLOBAL POWER REPORT 965.00 DUES & SUBSCRIPTIONS
01/06/98 1006760 MOUNT OLYMPUS WATER 11.98 OFFICE SUPPLIES & EXPENSE
01/06/98 1006761 PDS ENGINEERING CONSTRUCTION 38,500.00 KYOCERA CONSULTING FEES
01/06/98 1006762 THE PLANT GALLERY 139.00 OFFICE SUPPLIES & EXPENSE
01/06/98 1006763 REDMAN VAN & STORAGE CO INC 161.28 RENT-STORAGE
01/06/98 1006764 ENERGY & BUSINESS NEWSLETTER 995.00 CONFERENCES & SEMINARS
01/06/98 1006765 THE SEC INSTITUTE INC 1,920.00 CONFERENCES & SEMINARS
01/06/98 1006766 UNITED HEALTH CARE 20,765.16 INSURANCE-HEALTH
01/09/98 1006768 SAN DIEGO COUNTY TAX COLLECTOR 120,000.00 PROPERTY TAX SETTLEMENT
01/13/98 1006769 BPC-PAYROLL ACCOUNT 16,092.35 TRANSFER-PAYROLL ACCT
01/13/98 1006770 BPC-PAYROLL TAX ACCT 11,607.29 TRANSFER-PAYROLL TAX ACCT
01/13/98 1006771 WELLS FARGO BANK 883.81 401K CONTRIBUTIONS
01/13/98 1006772 WELLS FARGO BANK 81.70 401K EMPLOYEE LOAN PAYMENT
01/19/98 1006773 AIRBORNE EXPRESS 60.13 EXPRESS MAIL EXPENSE
01/19/98 1006774 AUTOMATED OFFICE SYSTEMS INC 198.94 OFFICE SUPPLIES & EXPENSE
01/19/98 1006775 BENEFICIAL LIFE INSURANCE CO 778.15 INSURANCE-LIFE
01/19/98 1006776 COMPUSERVE 9.95 OFFICE SUPPLIES & EXPENSE
01/19/98 1006777 CSC NETWORKS 143.00 OFFICE SUPPLIES & EXPENSE
01/19/98 1006778 CYMA HELP! 30.00 OFFICE SUPPLIES & EXPENSE
01/19/98 1006779 FLORAL TAPESTRY 58.36 OFFICE SUPPLIES & EXPENSE
01/19/98 1006780 DEEA HOBBS 54.40 EXPENSE REIMBURSEMENT
01/19/98 1006781 MOUNT OLYMPUS WATER 16.60 OFFICE SUPPLIES & EXPENSE
01/19/98 1006782 MOUNTAIN STATES OFFICE PRODUCTS 202.50 OFFICE SUPPLIES & EXPENSE
01/19/98 1006783 CLARK MOWER 1,114.06 EXPENSE REIMBURSEMENT
01/19/98 1006784 THE PRUDENTIAL 993.77 INSURANCE-DISABILITY
01/19/98 1006785 PROTEL 76.39 OFFICE SUPPLIES & EXPENSE
01/19/98 1006786 REDMAN VAN & STORAGE CO INC 682.46 RENT-STORAGE
01/19/98 1006787 SALT LAKE CITY CORPORATION 142.00 FEES & LICENSES
01/19/98 1006788 SAN DIEGO GAS & ELECTRIC 101.26 KYOCERA-O&M EXPENSE
01/19/98 1006789 SECRETARY OF STATE OF NEVADA 100.00 OFFICE SUPPLIES & EXPENSE
01/19/98 1006790 STATE TREASURER OF CALIFORNIA 2,520.00 WELL ASSESSMENT
01/19/98 1006791 SWIRE COCA-COLA USA 60.62 OFFICE SUPPLIES & EXPENSE
01/19/98 1006792 UNUM LIFE INSURANCE CO 1,487.45 INSURANCE-DISABILITY
</TABLE>
D-1
<PAGE>
DEBTOR: BONNEVILLE PACIFIC CORPORATION
Case No. 91A-27701
General Corp Cash
For Period January 1 - January 31, 1998
- -----------------------------------------------------------------------------
CASH DISBURSEMENTS JOURNAL (CONTINUED)
<TABLE>
<CAPTION>
DATE DOC # PAYEE AMOUNT DESCRIPTION
<S> <C> <C> <C> <C>
01/19/98 1006793 XEROX CORPORATION 326.97 OFFICE SUPPLIES & EXPENSE
01/06/98 1006794 WORKERS COMP FUND OF UT 368.41 INSURANCE-WORKERS COMP
01/19/98 1006795 BPC-PAYROLL TAX ACCT 256.77 TRANSFER-PAYROLL TAX ACCT
01/28/98 1006796 AIRBORNE EXPRESS 34.14 EXPRESS MAIL EXPENSE
1006797 VOID
1006798 VOID
1006799 VOID
01/28/98 1006800 BPC-PAYROLL ACCOUNT 9,659.56 TRANSFER-PAYROLL ACCT
01/28/98 1006801 FIRST CONTINENTAL LIFE & ACCIDENT 3,138.54 INSURANCE-DENTAL
01/28/98 1006802 GENERATOR POWER SYSTEMS INC 3,510.00 KYOCERA-O&M EXPENSE
01/28/98 1006803 MOUNT OLYMPUS WATER 35.97 OFFICE SUPPLIES & EXPENSE
01/28/98 1006804 PROTEL 37.22 OFFICE SUPPLIES & EXPENSE
01/28/98 1006805 TRAVEL ZONE CRUISE ZONE 3,226.04 TRAVEL EXPENSE
01/28/98 1006806 UNUM LIFE INSURANCE CO 1,553.28 INSURANCE-DISABILITY
01/28/98 1006807 US WEST COMMUNICATIONS 782.12 TELEPHONE EXPENSE
01/28/98 1006808 WELLS FARGO BANK 849.52 401K CONTRIBUTION & LOAN PMT
01/28/98 1006809 AMPCO SYSTEM PARKING 134.00 RENT-PARKING
01/28/98 1006810 BENEFICIAL LIFE INSURANCE 818.53 INSURANCE-LIFE
01/28/98 1006811 BPC-PAYROLL TAX ACCT 5,075.54 TRANSFER-PAYROLL TAX ACCT
01/31/98 BANK STMT KEY BANK OF UTAH 52.23 BANK SERVICE CHARGE
-----
TOTAL CASH DISBURSEMENTS $316,113.05
===========
</TABLE>
D-2
<PAGE>
DEBTOR: BONNEVILLE PACIFIC CORPORATION
Case No. 91A-27701
Chapter 11 Trustee Joint Account
For Period January 1 - January 31, 1998
- -----------------------------------------------------------------------------
CASH RECEIPTS JOURNAL
<TABLE>
<CAPTION>
DATE DOC # PAYOR AMOUNT DESCRIPTION
<S> <C> <C> <C> <C>
01/31/98 BANK STMT KEY BANK $10,904.31 INTEREST INCOME
</TABLE>
CASH DISBURSEMENTS JOURNAL
<TABLE>
<CAPTION>
DATE DOC # PAYEE AMOUNT DESCRIPTION
<S> <C> <C> <C> <C>
01/31/98 BANK STMT KEY BANK OF UTAH $43.00 BANK SERVICE CHARGE
</TABLE>
E
<PAGE>
DEBTOR: BONNEVILLE PACIFIC CORPORATION
Case No. 91A-27701
Chapter 11 Trustee JT - CD Account
For Period January 1 - January 31, 1998
- -----------------------------------------------------------------------------
CASH RECEIPTS JOURNAL
<TABLE>
<CAPTION>
DATE DOC # PAYOR AMOUNT DESCRIPTION
<S> <C> <C> <C> <C>
01/24/98 BANK STMT KEY BANK OF UTAH $128,422.23 INTEREST INCOME
</TABLE>
CASH DISBURSEMENTS JOURNAL
<TABLE>
<CAPTION>
DATE DOC # PAYEE AMOUNT DESCRIPTION
<S> <C> <C> <C> <C>
NONE
</TABLE>
F
<PAGE>
DEBTOR: BONNEVILLE PACIFIC CORPORATION
Case No. 91A-27701
Chapter 11 Trustee JT - CD Account
For Period January 1 - January 31, 1998
- -----------------------------------------------------------------------------
CASH RECEIPTS JOURNAL
<TABLE>
<CAPTION>
DATE DOC # PAYOR AMOUNT DESCRIPTION
<S> <C> <C> <C> <C>
01/31/98 BANK STMT BANK ONE $75,284.54 INTEREST INCOME
</TABLE>
CASH DISBURSEMENTS JOURNAL
<TABLE>
<CAPTION>
DATE DOC # PAYEE AMOUNT DESCRIPTION
<S> <C> <C> <C> <C>
NONE
</TABLE>
G
<PAGE>
DEBTOR: BONNEVILLE PACIFIC CORPORATION
Case No. 91A-27701
Chapter 11 Trustee JT Savings
For Period January 1 - January 31, 1998
- -----------------------------------------------------------------------------
CASH RECEIPTS JOURNAL
<TABLE>
<CAPTION>
DATE DOC # PAYOR AMOUNT DESCRIPTION
<S> <C> <C> <C> <C>
01/31/98 BANK STMT BANK ONE $4,402.97 INTEREST INCOME
</TABLE>
CASH DISBURSEMENTS JOURNAL
<TABLE>
<CAPTION>
DATE DOC # PAYEE AMOUNT DESCRIPTION
<S> <C> <C> <C> <C>
NONE
</TABLE>
H
<PAGE>
DEBTOR: BONNEVILLE PACIFIC CORPORATION
Case No. 91A-27701
Chapter 11 Trustee JT - MMA Account
For Period January 1 - January 31, 1998
- -----------------------------------------------------------------------------
CASH RECEIPTS JOURNAL
<TABLE>
<CAPTION>
DATE DOC # PAYOR AMOUNT DESCRIPTION
<S> <C> <C> <C> <C>
01/31/98 BANK STMT NATIONS BANK $408,853.67 INTEREST INCOME
</TABLE>
CASH DISBURSEMENTS JOURNAL
<TABLE>
<CAPTION>
DATE DOC # PAYOR AMOUNT DESCRIPTION
<S> <C> <C> <C> <C>
NONE
</TABLE>
I
<PAGE>
DEBTOR: BONNEVILLE PACIFIC CORPORATION
Case No. 91A-27701
Proceeds From Asset Sales
For Period January 1 - January 31, 1998
- -----------------------------------------------------------------------------
CASH RECEIPTS JOURNAL
<TABLE>
<CAPTION>
DATE DOC # PAYOR AMOUNT DESCRIPTION
<S> <C> <C> <C> <C>
01/31/98 BANK STMT KEY BANK OF UTAH $11.36 INTEREST INCOME
</TABLE>
CASH DISBURSEMENTS JOURNAL
<TABLE>
<CAPTION>
DATE DOC # PAYEE AMOUNT DESCRIPTION
<S> <C> <C> <C> <C>
NONE
</TABLE>
J
<PAGE>
DEBTOR: BONNEVILLE PACIFIC CORPORATION
Case No. 91A-27701
Kyocera Maintenance Reserve
For Period January 1 - January 31, 1998
- -----------------------------------------------------------------------------
CASH RECEIPTS JOURNAL
<TABLE>
<CAPTION>
DATE DOC # PAYOR AMOUNT DESCRIPTION
<S> <C> <C> <C> <C>
01/05/98 CK# 6752 BONNEVILLE PACIFIC CORP $10,000.00 TRANSFER
01/31/98 BANK STMT KEY BANK OF UTAH 624.48 INTEREST INCOME
------
TOTAL CASH RECEIPTS $10,624.48
==========
</TABLE>
CASH DISBURSEMENTS JOURNAL
<TABLE>
<CAPTION>
DATE DOC # PAYEE AMOUNT DESCRIPTION
<S> <C> <C> <C> <C>
01/19/98 CK #1033 CABLE MECHANICAL $7,881.49 KYOCERA O&M EXPENSE
01/19/98 CK #1034 GENERATOR POWER SYSTEMS 63,675.96 KYOCERA O&M EXPENSE
---------
$71,557.45
==========
</TABLE>
K
<PAGE>
DEBTOR: BONNEVILLE PACIFIC CORPORATION
Case No. 91A-27701
Balance Sheet
As of January 31, 1998
- -----------------------------------------------------------------------------
ASSETS
Current Assets:
Cash $150,945,178
Accounts receivable - trade 59,821
Accounts receivable - settlements (Note 4) 5,488,116
Accounts receivable - affiliates 75,520
Prepaid insurance 25,069
Accrued interest receivable 131,767
-------
Total current assets $156,725,471
Fixes Assets:
Land 198,424
Equipment, furniture and fixtures 3,805,439
Total fixed assets 4,003,863
Less: Accumulated depreciation (3,171,057)
---------
Net fixed assets 832,806
Other Assets:
Investment in and advances to subsidiaries
and partnership (Note 7) 25,486,832
Other assets 1,820
-----
Total other assets 25,488,652
----------
TOTAL ASSETS $183,046,929
============
LIABILITIES
Post-Petition Liabilities:
Accounts payable - trade $105,686
Accounts payable - professional fees
and costs 2,236,477
Accrued income taxes payable (Note 5) 0
Taxes payable 0
Accrued interest 46,014,166
----------
Total post-petition liabilities $48,356,329
Pre-Petition Liabilities:
Priority claims 5,180
Secured debt 0
Unsecured debt (Notes 1 and 3) 99,967,970
----------
Total Pre-Petition Liabilities 99,973,150
----------
TOTAL LIABILITIES 148,329,479
Commitments and Contingent Liabilities (Note 3)
OWNER'S EQUITY
Capital Stock or Owner's Investment 213,752
Paid-In-Capital 121,590,029
Treasury Stock (2,308,255)
Retained Earnings:
Pre-Petition (56,551,908)
Post-Petition (Note 6) (28,226,168)
----------
TOTAL OWNER'S EQUITY (Notes 1 and 3) 34,717,450
----------
TOTAL LIABILITIES AND OWNER'S EQUITY $183,046,929
============
Form 2-C
<PAGE>
DEBTOR: BONNEVILLE PACIFIC CORPORATION
Case No. 91A-27701
Profit and Loss Statement
For Period January 1 - January 31, 1998
- -----------------------------------------------------------------------------
Gross operating revenue $110,072
Less discount, returns and allowances 0
-
Net operating revenue $110,072
Cost of goods sold (163,173)
-------
Gross profit (53,101)
Operating expenses:
Salaries and wages 41,711
Rent and leases 3,401
Payroll taxes 12,293
Insurance 6,252
Other 11,854
------
Total operating expenses (75,511)
Operating income (loss) (128,612)
Legal and professional fees and costs (Note 4) 104,065
Depreciation, depletion and administration 3,618
Claims settlement expense 0
Interest expense 599,690
-------
Total (707,373)
-------
Net operating income (loss) (835,985)
Non-operating income and (expenses):
Interest income 678,447
Other income - settlements 0
Other income 812
Equity in earnings (losses) of subsidiaries
and partnerships (Note 2) 451,041
-------
Net non-operating income or (expenses) 1,130,300
---------
Net income (loss) before income taxes 294,315
Provision for income taxes (benefit) (Note 5) 0
-
NET INCOME (LOSS) $294,315
========
Form 2-D
Page 1 of 3
<PAGE>
DEBTOR: BONNEVILLE PACIFIC CORPORATION
Case No. 91A-27701
General Notes to Financial Statements
For Period January 1 to January 31, 1998
- -----------------------------------------------------------------------------
1. The Balance Sheet and Income Statement of Bonneville Pacific Corporation,
included in the Monthly Financial Report, are prepared on the accrual
basis. As a result, revenues are generally recorded when earned rather
than when received and expenses are generally recognized when the
obligation is incurred rather than when the expenses are paid. During
the bankruptcy, until the December 31, 1997 Financial Statement, accrued
interest payable has been recorded only on post-petition debt, where
such is contractually due, and pre-petition secured debt to the extent
that the underlying collateral equals or exceeds the outstanding
principal plus the accrued interest payable. The Financial Statements
included in Monthly Financial Reports for all reporting periods prior to
December 1, 1997 have not included any accrual of interest on any pre-
petition unsecured debt. However, in light of the Conditional Letter
Agreement signed by the Trustee and holders of certain senior claims
that provides for the calculation and payment of post-petition interest
on certain pre-petition unsecured debt, interest has now been accrued on
certain pre-petition unsecured debt consistent with the interest rates
set forth in the Conditional Letter Agreement.
2. Equity in earnings of subsidiaries and partnerships represents an accrual
of the Company's share of earnings or losses of its operating
subsidiaries and partnerships. These earnings are affected by a number
of factors including seasonality, operating costs and operating
efficiency. The operating entities which comprise these earnings
include Bonneville Pacific Services Company, Bonneville Fuels
Corporation, and Bonneville Nevada Corporation through its investment in
the NCA #1 Partnership.
3. Unrecorded Liabilities and Potential Claims. Unrecorded liabilities and
potential claims include pre-petition debenture sale claims in the
approximate amount of $5,100,000.00, post-petition debenture sale claims
in the approximate amount of $10,700,000.00, limited partner claims in
the approximate amount of $4,000,000.00, Section 510(b) equity claims in
the approximate amount of between $40,000,000.00 and $45,000,000.00
(including the allowed compromised claim of CIGNA and the ESOP claim as
allowed on January 12, 1998 in the amount of $984,245.37), $8,945,000.00
in deeply subordinated claims, $400,000.00 for attorneys of certain
senior creditor's fees as agreed in the Conditional Letter Agreement,
and potential administrative fees which may be allowed by the Bankruptcy
Court.
The recording of the above described liabilities or potential claims, if
allowed, will reduce equity by a corresponding amount.
Form 2-D
Page 2 of 3
<PAGE>
DEBTOR: BONNEVILLE PACIFIC CORPORATION
Case No. 91A-27701
General Notes to Financial Statements
(Continued)
For Period January 1 to January 31, 1998
- -----------------------------------------------------------------------------
For further information concerning liabilities and potential claims,
see the "Trustee's Preliminary Report (Estimate) Concerning Claims Filed
Against the Estate" dated March 17, 1997, which was originally filed on
March 17, 1997 and which was originally attached to the Financial Report
for the period February 1, 1997 through February 28, 1997 and the
"Report of Trustee Regarding Administration of the Estate from 7/1/96
through 6/30/97" filed with the Bankruptcy Court on September 4, 1997.
4. Accounts Receivable Settlements represent only court approved settlements
where all conditions precedent have occurred and the settlements were
fully effective as of January 31, 1998 and are reflected on the
January 31, 1998 Financial Statements.
Approved settlements are as follows:
W. Johnson $988,116
Westinghouse Electric 3,000,000
Piper Jaffray 1,500,000
---------
$5,488,116
5. As of December 31, 1996, Bonneville and Subsidiaries had approximately
$3,488,000 in federal net operating loss carry-forwards for Federal
Income Tax purposes and approximately $6,925,000 in Alternative Minimum
Tax Loss carry-forwards. Pursuant to current tax law, only 90 percent of
current Alternative Minimum Taxable Income can be offset by Alternative
Minimum Tax Loss carry-forwards.
6. Retained earnings post-petition have been impacted by the accrual of
post-petition interest on pre-petition unsecured debt as rates set forth
in the Conditional Letter Agreement dated December 31, 1997.
7. Investment in and advanced to subsidiaries and partnerships is book value
and is impacted by the dividends paid from the subsidiaries to the
Company. The value stated (based upon the valuation work of Trustee's
Financial Advisor) is believed to be materially less than the current
market value of such assets.
Form 2-D
Page 3 of 3
<PAGE>
DEBTOR: BONNEVILLE PACIFIC CORPORATION
Case No. 91A-27701
Taxes Payable Schedule (Post-Petition)
For the Period January 1 to January 31, 1998
<TABLE>
<CAPTION>
Beginning Payments Date Check Ending
Balance Adjustments Additions Deposits Paid Numb. Balance
<S> <C> <C> <C> <C> <C> <C> <C>
Income tax withheld:
Federal $0.00 $0.00 ($8,160.94) $6,025.48 01/15/98 KEY TAX $0.00
2,135.46 01/01/98 KEY TAX
State 0.00 (2,232.77) 2,232.77 01/28/98 1254
FICA tax withheld 0.00 (3,144.56) 2,037.07 01/15/98 KEY TAX
1,107.49 01/31/98 KEY TAX 0.00
Employer's FICA tax 0.00 (3,144.56) 2,037.07 01/15/98 KEY TAX
1,107.49 01/31/98 KEY TAX 0.00
Unemployment tax:
Federal 0.00 (14.43) 14.43 01/15/98 KEY TAX 0.00
State 0.00 (242.34) 242.34 01/06/98 1253 0.00
Sales, use & excise taxes 0.00 0.00
Property taxes (120,000.00) 0.00 120,000.00 01/09/98 1006768 0.00
Accrued income tax:
Federal 0.00 0.00 0.00
State 0.00 0.00 0.00 0.00 0.00
Delaware franchise tax 0.00 0.00
Employee withholding 0.00 0.00 (1,651.63) 883.81 01/13/98 1006771 0.00
---- ---- -------- 767.82 01/28/98 1006808 ----
------
TOTALS ($120,000.00) $0.00 ($18,591.23) $18,591.23 0.00
=========== ===== ========== ========== ====
</TABLE>
<PAGE>
DEBTOR: BONNEVILLE PACIFIC CORPORATION
Case No. 91A-27701
Insurance Schedule
For Period January 1 to January 31, 1998
<TABLE>
<CAPTION>
Policy
Amount of Expiration Premium Paid
Carrier/Agent Coverage Date Thru Date
<S> <C> <C> <C> <C>
Worker's Compensation Various State Funds Statutory
$1,000,000 (A) 01/31/98
General Liability Travelers Insurance/
Sedgwick James 5,000,000 08/17/98 08/17/98
Vehicles Travelers Insurance/
(Hired/Non-Owned) Sedgwick James 5,000,000 08/17/98 08/17/98
Property:
Bonneville Pacific Federal Insurance Co./
Sedgwick James 735,000 08/17/98 08/17/98
Kyocera Federal/Hartford Steam/
Sedgwick James 5,352,879 08/17/98 08/17/98
</TABLE>
(A) All workers compensation insurance policies are insured through various
state insurance funds. As such, they continue in force as premiums are
paid and have no policy expiration dates.
<PAGE>
DEBTOR: BONNEVILLE PACIFIC CORPORATION
Case No. 91A-27701
Accounts Receivable and Payable Aging
For Period January 1 to January 31, 1998
- -----------------------------------------------------------------------------
<TABLE>
<CAPTION>
Accounts
Non-Affiliate Accounts Payable
Accounts Payable Professional
Receivable Trade Fees
<S> <C> <C> <C>
Under 30 days $5,488,116 $100,995 $2,236,477
30 to 60 days 0 117 0
61 to 90 days 0 0 0
Over 90 days 0 4,574 0
- ----- -
Total post-petition 5,488,116 105,686 2,236,477
Pre-petition amounts 0 3,664,200 0
- --------- -
Total accounts receivable $5,488,116
==========
Total accounts payable $3,769,886 $2,236,477
========== ==========
Affiliate
Accounts
Receivable
Under 30 days $47,291
30 to 60 days 28,229
61 to 90 days 0
Over 90 days 0
-
Total post-petition
affiliate accounts
receivable $75,520
=======
</TABLE>
Form 2-E
Page 3 of 5
<PAGE>
DEBTOR: BONNEVILLE PACIFIC CORPORATION
Case No. 91A-27701
Schedule of Payments of Fees and Costs to Attorneys and Other Professionals
For Period January 1 to January 31, 1998
- -----------------------------------------------------------------------------
<TABLE>
<CAPTION>
Date of
Court Estimated
Amount Paid Approval Balance Due
<S> <C> <C> <C> <C>
Court Appointed Trustee $0 $53,783 (1)
Trustee's Counsel 0 161,762 (1)
Trustee's Accountants 0 29,281
Trustee's Special Plan Counsel 0 90,000
Special Litigation Counsel for
Trustee - Costs 0 3,151
Trustee - Fees 0 1,798,500 (2)
Auditors 0 0
Financial Consultants 0 100,000
- -------
Total $0 $2,236,477
== ==========
</TABLE>
(1) Includes only hourly rate and miscellaneous Trustee costs. Does not
include any additional amounts that may be awarded by the court relating
to 11 USC Section 326 or as an enhanced fee to either the Trustee or
the Trustee's general counsel.
(2) Includes an accrual for any contingent fees due as a result of Court
approved settlements or recoveries. Estimated contingent fees are accrued
when settlements are approved by the Court. The contingent fees that
have been accrued on settlements approved by the Court are as follows:
1. $3,000,000.00 - Westinghouse Settlement Fees - $990,000
2. $1,500,000.00 - Piper Jaffray Settlement Fees - $495,000
3. $1,050,000.00 - Johnson Settlement Fees - $313,500
The $3,000,000.00 Westinghouse settlement payment, the $1,500,000.00
Piper Jaffray settlement payment and approximately $1,145,305.00 of
the Johnson settlement have not yet been received. Settlements have
been booked as receivables.
Form 2-E
Page 4 of 5
<PAGE>
DEBTOR: BONNEVILLE PACIFIC CORPORATION
Case No. 91A-27701
Schedule of Payments to Principal/Executives
For Period January 1 to January 31, 1998
- -----------------------------------------------------------------------------
<TABLE>
<CAPTION>
Payee Name Position Nature of Payment Amount
<S> <C> <C> <C>
Ralph F. Cox Director Director Fees $0.00
Calvin L. Rampton Director Director Fees $0.00
Clark M. Mower President Salary $21,895.84
Expense Reimbursement $1,114.06
</TABLE>
Form 2-E
Page 5 of 5
<PAGE>
DEBTOR: BONNEVILLE PACIFIC CORPORATION
Case No. 91A-27701
Quarterly Fee Summary
Month Ended January 31, 1998
- -----------------------------------------------------------------------------
<TABLE>
<CAPTION>
Cash Quarterly Payment
Disbursement Fee Due Check No. Date
<S> <C> <C> <C> <C>
January $377,740.24
February
March
-----------
Total 1st Quarter 377,740.24
April
May
June
Total 2nd Quarter
July
August
September
Total 3rd Quarter
October
November
December
Total 4th Quarter
</TABLE>
(1) This summary is to reflect the current calendar year's information
cumulative to the end of the current reporting period.
Form 2-F
<PAGE>
DEBTOR: BONNEVILLE PACIFIC CORPORATION
Case No. 91A-27701
Quarterly Fee Summary
Year Ended December 31, 1997
- -----------------------------------------------------------------------------
<TABLE>
<CAPTION>
Cash Quarterly Payment
Disbursement Fee Due Check No. Date
<S> <C> <C> <C> <C>
January $220,508.24
February 169,408.87
March 215,808.71
----------
Total 1st Quarter 605,725.82 $3,750.00 1006268 04/17/97
April 4,093,233.83
May 128,144.26
June 152,976.15
----------
Total 2nd Quarter 4,374,354.24 $8,000.00 1006458 07/23/97
July 126,042.84
August 2,298,948.13
September 957,979.91
----------
Total 3rd Quarter 3,382,970.88 $8,000.00 1006639 10/29/97
October 147,513.05
November 458,527.92
December 1,065,805.09
------------
Total 4th Quarter 1,671,846.06 $5,000.00 1006820 2/4/98
</TABLE>
(1) This summary is to reflect the current calendar year's information
cumulative to the end of the current reporting period.
Form 2-F
