UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
Form 11-K
[X] ANNUAL REPORT PURSUANT TO SECTION 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended December 31, 1995
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from _____ to _____
Commission File Number 0-18984
REYNOLDS, SMITH AND HILLS, INC.
EMPLOYEES 401(k) PROFIT SHARING PLAN
(Full title of the plan)
REYNOLDS, SMITH AND HILLS, INC.
(Name of issuer of the securities held pursuant to the plan)
4651 Salisbury Road, Jacksonville, Florida 32256
(Address of principal executive office of issuer and plan)
<PAGE>
Financial Statements and Exhibits.
The following financial statements for the Reynolds, Smith and Hills, Inc.
Employees 401(k) Profit Sharing Plan are filed herein as a part of this report:
PAGE
Statement of net assets available for plan benefits 8
Statement of changes in net assets available for
plan benefits 12
Notes to Financial Statements 18
Consent of Deloitte & Touche 25
<PAGE>
SIGNATURES
The Plan. Pursuant to the requirements of the Securities Exchange Act of 1934,
the trustees (or other persons who administer the employee benefit plan) have
duly caused this annual report to be signed on its behalf by the undersigned
hereunto duly authorized.
REYNOLDS, SMITH AND HILLS, INC.
EMPLOYEE 401(k) PROFIT SHARING PLAN
By: /s/ Darold F. Cole
------------------
Darold F. Cole
Chairman, Administrative Committee
and Senior Vice President and Director
Reynolds, Smith and Hills, Inc.
Date: September 16, 1996
- - ------------------------
<PAGE>
REYNOLDS, SMITH AND HILLS,
INC. EMPLOYEES 401(K) PROFIT
SHARING PLAN
Financial Statements and Supplemental
Schedules for the Years Ended December 31, 1995,
1994 and 1993 and Independent Auditors' Report
<PAGE>
REYNOLDS, SMITH AND HILLS, INC. EMPLOYEES 401(K) PROFIT SHARING PLAN
TABLE OF CONTENTS
- - --------------------------------------------------------------------------------
Page
INDEPENDENT AUDITORS' REPORT 1
FINANCIAL STATEMENTS:
Statements of Net Assets Available for Plan Benefits 3
Statements of Changes in Net Assets Available for Plan Benefits 7
Notes to Financial Statements 13
SUPPLEMENTAL SCHEDULES:
Item 27a - Assets Held for Investment Purposes 18
Item 27d - Schedule of Reportable Transactions 19
<PAGE>
INDEPENDENT AUDITORS' REPORT
Trustees
Reynolds, Smith and Hills, Inc. Employees
40l(k) Profit Sharing Plan
Jacksonville, Florida
We have audited the accompanying statements of net assets available for plan
benefits of Reynolds, Smith and Hills, Inc. Employees 401(k) Profit Sharing Plan
(the "Plan") as of December 31, 1995 and 1994, and the related statements of
changes in net assets available for plan benefits for each of the three years in
the period ended December 31, 1995. These financial statements are the
responsibility of the Plan's management. Our responsibility is to express an
opinion on these financial statements based on our audits.
We conducted our audits in accordance with generally accepted auditing
standards. Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free of material
misstatement. An audit includes examining, on a test basis, evidence supporting
the amounts and disclosures in the financial statements. An audit also includes
assessing the accounting principles used and significant estimates made by
management, as well as evaluating the overall financial statement presentation.
We believe that our audits provide a reasonable basis for our opinion.
In our opinion, such financial statements present fairly, in all material
respects, the net assets available for plan benefits of the Plan as of December
31, 1995 and 1994, and the changes in net assets available for plan benefits for
each of the three years in the period ended December 31, 1995, in conformity
with generally accepted accounting principles.
As explained in Note 1 to the financial statements, the 1995 and 1994 financial
statements include securities valued at $1,054,207 (9 percent of net assets
available for plan benefits) and $964,534 (10 percent of net assets available
for plan benefits), respectively, whose values have been estimated by the Board
of Trustees in the absence of readily ascertainable market values. We have
examined the procedures used by the Board of Trustees in arriving at its
estimate of value of such securities and have inspected underlying
documentation, and, in the circumstances, we believe the procedures are
reasonable and the documentation appropriate. However, because of the inherent
uncertainty of valuation, those estimated values may differ significantly from
the values that would have been used had a ready market for the securities
existed, and the differences could be material.
<PAGE>
Our audits were conducted for the purpose of forming an opinion on the basic
financial statements taken as a whole. The supplemental schedules of the
Reynolds, Smith and Hills, Inc. Employees 401(k) Profit Sharing Plan are
presented for purposes of additional analysis and are not a required part of the
basic financial statements, but are supplementary information required by the
Department of Labor's Rules and Regulations for Reporting and Disclosure under
the Employee Retirement Income Security Act of 1974. Such supplemental schedules
are the responsibility of the Plan's management. Such schedules have been
subjected to the auditing procedures applied in our audits of the basic
financial statements and, in our opinion, are fairly stated in all material
respects when considered in relation to the basic financial statements taken as
a whole.
Deloitte & Touche, L.L.P.
May 24, 1996
<PAGE>
<TABLE>
<CAPTION>
REYNOLDS, SMITH AND HILLS, INC. EMPLOYEES 401(k)
PROFIT SHARING PLAN
STATEMENTS OF NET ASSETS AVAILABLE FOR PLAN BENEFITS
December 31, 1995
Money
Equity Bond Market
Fund Fund Fund
<S> <C> <C> <C>
ASSETS:
Investments, at market value (Note 3):
Short-term investments $ 60,120 $ 14,695 $ 2,898,902
Sun Bank collective trust funds 5,752,183 1,538,551
Common stocks
Loans to participants
----------- ----------- -----------
Total investments 5,812,303 1,553,246 2,898,902
Receivables:
Due (to) from other funds 63,682 (111,535) 59,028
Accrued interest receivable 34,488 8,394 14,861
----------- ----------- -----------
Total receivables 98,170 (103,141) 73,889
----------- ----------- -----------
TOTAL ASSETS 5,910,473 1,450,105 2,972,791
LIABILITIES:
Other payables (4,073) (737) (9,994)
----------- ----------- -----------
TOTAL LIABILITIES (4,073) (737) (9,994)
----------- ----------- -----------
NET ASSETS AVAILABLE FOR PLAN BENEFITS $ 5,906,400 $ 1,449,368 $ 2,962,797
=========== =========== ===========
See notes to financial statements.
</TABLE>
<PAGE>
- - --------------------------------------------------------------------------------
RS&H Combined
Loan Stock Total
Fund Fund All Funds
$ 27,668 $ 3,001,385
7,290,734
1,054,207 1,054,207
$ 613,333 613,333
------- --------- ----------
613,333 1,081,875 11,959,659
(6,921) (4,254)
215 57,958
------- --------- ----------
(6,921) (4,039) 57,958
------- --------- ----------
606,412 1,077,836 12,017,617
(3,583) (1,266) (19,653)
------- --------- ----------
(3,583) (1,266) (19,653)
------- --------- ----------
$ 602,829 $ 1,076,570 $ 11,997,964
============ ============ ============
<PAGE>
<TABLE>
<CAPTION>
REYNOLDS, SMITH AND HILLS, INC. EMPLOYEES 401(k)
PROFIT SHARING PLAN
STATEMENTS OF NET ASSETS AVAILABLE FOR PLAN BENEFITS
December 31, 1994
- - --------------------------------------------------------------------------------
Money
Equity Bond Market
Fund Fund Fund
<S> <C> <C> <C>
ASSETS:
Investments, at market value (Note 3):
Short-term investments $ 63,534 $ 9,813 $ 2,379,847
Sun Bank collective trust funds 4,299,191 1,058,163
Common stocks
Loans to participants
--------- --------- ---------
Total investments 4,362,725 1,067,976 2,379,847
Receivables:
Contributions 16,152 2,559 1,739
Due (to) from other funds (283,681) 3,600 293,293
Accrued interest receivable 25,557 6,634 12,929
--------- --------- ---------
Total receivables (241,972) 12,793 307,961
Cash 5,799 911 2,595
--------- --------- ---------
TOTAL ASSETS 4,126,552 1,081,680 2,690,403
LIABILITIES:
Other payables (11,378) (2,733) (7,431)
--------- --------- ---------
TOTAL LIABILITIES (11,378) (2,733) (7,431)
--------- --------- ---------
NET ASSETS AVAILABLE FOR PLAN BENEFITS $ 4,115,174 $ 1,078,947 $ 2,682,972
=========== =========== ===========
See notes to financial statements.
</TABLE>
<PAGE>
- - --------------------------------------------------------------------------------
RS&H Combined
Loan Stock Total
Fund Fund All Funds
$ 26,516 $ 2,479,710
5,357,354
964,534 964,534
$ 648,033 648,033
- - ----------- ----------- -----------
648,033 991,050 9,449,631
2,100 22,550
(13,645) 433
200 45,320
- - ----------- ----------- -----------
(13,645) 2,733 67,870
536 9,841
- - ----------- ----------- -----------
634,388 994,319 9,527,342
(21,542)
- - ----------- ----------- -----------
(21,542)
- - ----------- ----------- -----------
$ 634,388 $ 994,319 $ 9,505,800
=========== =========== ===========
<PAGE>
<TABLE>
<CAPTION>
REYNOLDS, SMITH AND HILLS, INC. EMPLOYEES 401(k)
PROFIT SHARING PLAN
STATEMENTS OF CHANGES IN NET ASSETS AVAILABLE FOR PLAN BENEFITS
YEAR ENDED DECEMBER 31, 1995
- - --------------------------------------------------------------------------------
Money
Equity Bond Market
Fund Fund Fund
<S> <C> <C> <C>
ADDITIONS TO NET ASSETS:
Investment income $ 469,439 $ 86,986 $ 161,549
Net appreciation in value of RS&H, Inc. stock
Net appreciation in market value of
investments 967,263 127,414
----------- ----------- -----------
Net investment income 1,436,702 214,400 161,549
Contributions from employer 91,312 19,543 6,672
Contributions from employees 562,474 158,810 264,991
----------- ----------- -----------
Total additions 2,090,488 392,753 433,212
DEDUCTIONS FROM NET ASSETS:
Fees 44,279 11,332 30,863
Distributions, net 513,765
----------- ----------- -----------
Total deductions 44,279 11,332 544,628
PARTICIPANTS' TRANSFERS BETWEEN
FUNDS IN (OUT) (254,983) (11,000) 391,241
----------- ----------- -----------
Net increase (decrease) 1,791,226 370,421 279,825
NET ASSETS AVAILABLE FOR PLAN
BENEFITS AT BEGINNING OF YEAR 4,115,174 1,078,947 2,682,972
----------- ----------- -----------
NET ASSETS AVAILABLE FOR PLAN
BENEFITS AT END OF YEAR $ 5,906,400 $ 1,449,368 $ 2,962,797
=========== =========== ===========
See notes to financial statements.
</TABLE>
<PAGE>
- - --------------------------------------------------------------------------------
RS&H, Inc. Combined
Loan Stock Total
Fund Fund All Funds
$ 46,836 $ 2,229 $ 767,039
41,140 41,140
1,094,677
- - ----------- ----------- -----------
46,836 43,369 1,902,856
27,647 145,174
58,098 1,044,373
- - ----------- ----------- -----------
46,836 129,114 3,092,403
86,474
513,765
- - ----------- ----------- -----------
600,239
(78,395) (46,863)
- - ----------- ----------- -----------
(31,559) 82,251 2,492,164
634,388 994,319 9,505,800
- - ----------- ----------- -----------
$ 602,829 $ 1,076,570 $11,997,964
=========== =========== ===========
<PAGE>
<TABLE>
<CAPTION>
REYNOLDS, SMITH AND HILLS, INC. EMPLOYEES 401(k)
PROFIT SHARING PLAN
STATEMENTS OF CHANGES IN NET ASSETS AVAILABLE FOR PLAN BENEFITS
YEAR ENDED DECEMBER 31, 1994
- - --------------------------------------------------------------------------------
Money
Equity Bond Market
Fund Fund Fund
<S> <C> <C> <C>
ADDITIONS TO NET ASSETS:
Investment income $ 290,022 $ 75,280 $ 96,785
Net appreciation in value of RS&H, Inc. stock
Net depreciation in market value of
investments (463,643) (119,336)
----------- ----------- -----------
Net investment income (173,621) (44,056) 96,785
Contributions from employer 68,471 13,150 14,017
Contributions from employees 583,817 117,216 152,498
----------- ----------- -----------
Total additions 478,667 86,310 263,300
DEDUCTIONS FROM NET ASSETS:
Fees 44,086 12,969 29,372
Distributions, net 1,129,851
----------- ----------- -----------
Total deductions 44,086 12,969 1,159,223
PARTICIPANTS' TRANSFERS BETWEEN
FUNDS IN (OUT) (789,117) (494,739) 1,347,967
----------- ----------- -----------
Net increase (decrease) (354,536) (421,398) 452,044
NET ASSETS AVAILABLE FOR PLAN
BENEFITS AT BEGINNING OF YEAR 4,469,710 1,500,345 2,230,928
----------- ----------- -----------
NET ASSETS AVAILABLE FOR PLAN
BENEFITS AT END OF YEAR $ 4,115,174 $ 1,078,947 $ 2,682,972
=========== =========== ===========
See notes to financial statements.
</TABLE>
<PAGE>
- - --------------------------------------------------------------------------------
RS&H, Inc. Combined
Loan Stock Total
Fund Fund All Funds
$ 48,624 $ 1,110 $ 511,821
27,427 27,427
(582,979)
- - ----------- ----------- -----------
48,624 28,537 (43,731)
29,036 124,674
54,842 908,373
- - ----------- ----------- -----------
48,624 112,415 989,316
86,427
20,025 1,149,876
- - ----------- ----------- -----------
20,025 1,236,303
3,428 (67,539)
- - ----------- ----------- -----------
32,027 44,876 (246,987)
602,361 949,443 9,752,787
- - ----------- ----------- -----------
$ 634,388 $ 994,319 $ 9,505,800
=========== =========== ===========
<PAGE>
REYNOLDS, SMITH AND HILLS, INC. EMPLOYEES 401(k)
PROFIT SHARING PLAN
STATEMENTS OF CHANGES IN NET ASSETS AVAILABLE FOR PLAN BENEFITS
YEAR ENDED DECEMBER 31, 1993
- - --------------------------------------------------------------------------------
Money
Equity Bond Market
Fund Fund Fund
ADDITIONS TO NET ASSETS:
Investment income $ 198,976 $ 95,170 $ 80,695
Net depreciation in value of
RS&H, Inc. stock
Net appreciation in market
value of investments 216,417 27,890
----------- ----------- -----------
Net investment income 415,393 123,060 80,695
Contributions from employer 64,507 19,018 18,560
Contributions from employees 616,368 189,813 165,324
----------- ----------- -----------
Total additions 1,096,268 331,891 264,579
DEDUCTIONS FROM NET ASSETS:
Fees 38,421 13,248 31,424
Distributions, net 590,195
----------- ----------- -----------
Total deductions 38,421 13,248 621,619
PARTICIPANTS' TRANSFERS BETWEEN
FUNDS IN (OUT) (45,883) 11,749 130,369
----------- ----------- -----------
Net increase (decrease) 1,011,964 330,392 (226,671)
NET ASSETS AVAILABLE FOR PLAN
BENEFITS AT BEGINNING OF YEAR 3,457,746 1,169,953 2,457,599
----------- ----------- -----------
NET ASSETS AVAILABLE FOR PLAN
BENEFITS AT END OF YEAR $ 4,469,710 $ 1,500,345 $ 2,230,928
=========== =========== ===========
See notes to financial statements.
<PAGE>
- - --------------------------------------------------------------------------------
RS&H, Inc. Combined
Loan Stock Total
Fund Fund All Funds
$ 46,888 $ 1,450 $ 423,179
(114,281) (114,281)
244,307
- - ----------- ----------- -----------
46,888 (112,831) 553,205
28,035 130,120
81,459 1,052,964
- - ----------- ----------- -----------
46,888 (3,337) 1,736,289
2,804 85,897
61,898 652,093
- - ----------- ----------- -----------
61,898 2,804 737,990
4 (96,239)
- - ----------- ----------- -----------
(15,006) (102,380) 998,299
617,367 1,051,823 8,754,488
- - ----------- ----------- -----------
$ 602,361 $ 949,443 $ 9,752,787
=========== =========== ===========
<PAGE>
REYNOLDS, SMITH AND HILLS, INC. EMPLOYEES 401(K)
PROFIT SHARING PLAN
NOTES TO FINANCIAL STATEMENTS
YEARS ENDED DECEMBER 31, 1995, 1994 AND 1993
- - --------------------------------------------------------------------------------
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Investments. Short-term investments and loans to participants are carried
at cost which approximates market value. Investments in collective trust
funds are valued based upon the net asset value of each fund. Investments
in the common stock of the Plan's sponsor, Reynolds, Smith and Hills,
Inc., are recorded at an estimated value as there is no active market for
the stock.
2. DESCRIPTION OF PLAN
The following description of the Reynolds, Smith and Hills, Inc. Employees
401(k) Profit Sharing Plan (the "Plan") provides general information to
participants. Participants should refer to the pamphlet Summary Plan
Description for the 1991 Amendment and Restatement of the Reynolds, Smith
and Hills, Inc. Employees 401(k) Profit Sharing Plan for a more complete
description of the Plan's provision. Copies of the pamphlet are available
from the Plan Coordinator.
General - The Plan was commenced and made effective January 1, 1990. The
Plan is a defined contribution plan established under Section 401(k) of
the Internal Revenue Code. The Plan was established for the benefit of
certain employees of Reynolds, Smith and Hills, Inc. (the "Company") and
eligible subsidiaries and affiliates, with 480 hours of service within the
eligibility computation period. The Plan is subject to the provisions of
the Employees Retirement Income Security Act of 1974 (ERISA).
Investment Funds - Participating employees have the right to choose the
investment funds in which contributions to their accounts are invested,
and may choose to allocate and reallocate amounts credited to their
accounts among all or any combination of the investment funds. A
participating employee may not change his investment decision more
frequently than quarterly, upon written notice delivered to the plan
administrator at least two weeks before it is to become effective.
Earnings on the investment funds are allocated among the accounts that
have elected to invest in each such fund.
Accounts may be invested among the following:
(i) STI Classic Capital Growth Fund (Equity Fund);
(ii) STI Classic Investment Grade (Bond Fund);
(iii) STI Classic Prime Quality Fund (Money Market Fund); and
(iv) Reynolds, Smith and Hills, Inc. Common Stock
(RS&H, Inc., Stock Fund).
REYNOLDS, SMITH AND HILLS, INC. EMPLOYEES 401(K)
PROFIT SHARING PLAN
NOTES TO FINANCIAL STATEMENTS
YEARS ENDED DECEMBER 31, 1995, 1994 AND 1993 (Continued)
- - --------------------------------------------------------------------------------
Plan participants may direct the investment of all funds credited to their
account to any or all four investment funds (Equity, Bond, Money Market
and RS&H, Inc. stock) in increments of 5% or multiples thereof.
Contributions - The Plan allows participating employees to contribute from
2% to 15% of their earned compensation with a total amount not to exceed
$9,500 in 1995 and $9,240 in 1994. The dollar limit is indexed yearly for
inflation. The employer is required to match 25% of the employee's annual
contribution up to 6% of an employee's compensation. In addition, the
employer may make discretionary contributions to the Plan in cash, company
stock, or a combination of the two.
Participant Accounts - Each participant's account is credited with the
participant's contributions, the employee's portion of the Employer's
matching contributions, and an allocation of the Employer's discretionary
contribution and Plan earnings.
Vesting - Participants are fully vested in their voluntary contributions
plus actual earnings thereon. Vesting in the remainder of the account
balances is based on years of participant service. A participant is 100%
vested after five years of credited service.
Withdrawals - Participants may withdraw all of the vested amounts credited
to his accounts, subject to defined years of Plan participation. Also, a
participant may elect to withdraw certain amounts from his deferred
contribution account due to the financial hardship of the participant.
Loans - Participants may request loans from the Plan subject to allowable
available participant balances and other conditions.
Payment of Benefits - On termination of employment, a participant with an
account balance of $3,500 or less may elect a lump sum payment of the
participant's account balance at the date of termination. The Plan
provides other payment schedules for payment of participant balances in
excess of $3,500 upon participant termination of employment. As of
December 31, 1995 the Plan was liable for benefits to participants that
have withdrawn from the Plan of $704,978.
In the event of death or disability of a participant, payment may be made
in a lump sum amount equal to the value of the participant's accounts as
of the next quarterly valuation date.
<PAGE>
REYNOLDS, SMITH AND HILLS, INC. EMPLOYEES 401(K)
PROFIT SHARING PLAN
NOTES TO FINANCIAL STATEMENTS
YEARS ENDED DECEMBER 31, 1995, 1994 AND 1993 (Continued)
- - --------------------------------------------------------------------------------
Plan Termination - Although the Company has not expressed any intent to do
so, the Company has the right under the Plan to discontinue its
contributions at any time and to terminate the Plan subject to provisions
of ERISA. In the event of Plan termination, participants will become 100%
vested in their accounts.
Administrative Costs - The Company pays directly the general and
administrative costs associated with the Plan.
3. INVESTMENTS
Except for the Plan's investments in loans to participants and common
stock of the plan sponsor, the Plan's investments are held in a trust fund
administered by the Trust Department of Sun Bank, N.A. Such investments
consist primarily of the Plan's short-term investments and investments in
Sun Bank collective trust funds. Investments administered by the Trust
Department of Sun Bank, N.A. are as follows:
<PAGE>
<TABLE>
<CAPTION>
REYNOLDS, SMITH AND HILLS, INC. EMPLOYEES 401(K)
PROFIT SHARING PLAN
NOTES TO FINANCIAL STATEMENTS
YEARS ENDED DECEMBER 31, 1995, 1994 AND 1993 (Continued)
- - -----------------------------------------------------------------------------------------------------------------------
The following table summarizes all investments held, by fund, at December 31, 1995:
Number of Shares,
Units or Principal Market
Amount Description Cost Value
<S> <C> <C>
Equity Fund
157,158 STI Classic Value
Income Stock Fund $ 1,754,806 $ 1,892,179
285,503 STI Classic Capital Growth Fund 3,398,832 3,860,004
60,120 STI Classic Prime Quality
Money Market 60,120 60,120
Bond Fund
145,010 STI Classic Investment Grade
Bond Fund 1,491,412 1,538,551
14,695 STI Classic Prime Quality
Money Market 14,695 14,695
Money Market Fund
2,898,902 STI Classic Prime Quality
Money Market 2,898,902 2,898,902
Loan Fund
612,333 Loans to Participants 613,333 613,333
RS&H Stock Fund
95,837 Reynolds, Smith and
Hills, Inc. Common Stock 771,162 1,054,207
27,668 STI Classic Prime Quality
Money Market 27,668 27,668
------------- -------------
TOTAL ALL FUNDS $ 11,030,930 $ 11,959,659
============= =============
</TABLE>
<PAGE>
REYNOLDS, SMITH AND HILLS, INC. EMPLOYEES 401(K)
PROFIT SHARING PLAN
NOTES TO FINANCIAL STATEMENTS
YEARS ENDED DECEMBER 31, 1995, 1994 AND 1993 (Continued)
- - --------------------------------------------------------------------------------
4. INCOME TAX STATUS
The Plan obtained its latest determination letter on July 6, 1992, in
which the Internal Revenue Service stated that the Plan, as then designed,
was in compliance with the applicable requirements of the Internal Revenue
Code. The Plan has been amended since receiving the determination letter.
However, the plan administrator believes that the Plan is currently
designed and being operated in compliance with the applicable requirements
of the Internal Revenue Code. Therefore, they believe that the Plan was
qualified and the related trust was tax-exempt as of the financial
statement date.
* * * * * *
<PAGE>
<TABLE>
<CAPTION>
REYNOLDS, SMITYH AND HILLS, INC. EMPLOYEES 401(k) PROFIT
SHARING PLAN
SUPPLEMENTAL SCHEDULE
ITEM 27a - ASSETS HELD FOR INVESTMENT PURPOSES
DECEMBER 31, 1995
Number of Shares,
Units or Principal Market
Amount Description Cost Value
<S> <C> <C>
Equity Fund
157,158 STI Classic Value
Income Stock Fund $ 1,754,806 $ 1,892,179
285,503 STI Classic Capital Growth Fund 3,398,832 3,860,004
60,120 STI Classic Prime Quality
Money Market 60,120 60,120
Bond Fund
145,010 STI Classic Investment Grade
Bond Fund 1,491,412 1,538,551
14,695 STI Classic Prime Quality
Money Market 14,695 14,695
Money Market Fund
2,898,902 STI Classic Prime Quality
Money Market 2,898,902 2,898,902
Loan Fund
613,333 Loans to Participants 613,333 613,333
RS&H Stock Fund
95,837 Reynolds, Smith and
Hills, Inc. Common Stock 771,162 1,054,207
27,668 STI Classic Prime Quality
Money Market 27,668 27,668
------------- -------------
TOTAL ALL FUNDS $ 11,030,930 $ 11,959,659
============= =============
</TABLE>
<TABLE>
<CAPTION>
REYNOLDS, SMITH AND HILLS, INC. EMPLOYEES 401(k)
PROFIT SHARING PLAN
SUPPLEMENTAL SCHEDULE
ITEM 27d - SCHEDULE OF REPORTABLE TRANSACTIONS
YEAR ENDED DECEMBER 31, 1995
- - --------------------------------------------------------------------------------
Series of Transactions in Excess of 5% of Plan Assets
Net
Number of Number of Total Total Gain
Identification of Security Purchases Sales Purchases Sales (Loss)
<S> <C> <C> <C> <C> <C>
STI Classic Investment
Grade Bond Fund 22 9 $ 534,429 $ 181,454 $ (4,335)
STI Classic Prime
Quality Money Market 335 114 2,780,726 2,259,051
STI Classic Value
Income Stock Fund 10 9 716,713 342,054 22,347
STI Class Capital
Income Growth Fund 14 6 682,896 571,285 36,009
</TABLE>
<PAGE>
INDEPENDENT AUDITORS' CONSENT
We consent to the incorporation by reference in Registration Statements Numbered
33-40554, 33-40553, 33-40552 and 33-40551 of Reynolds, Smith and Hills, Inc. on
Form S-8 of our report dated May 24, 1996 appearing in this Annual Report on
Form 11-K of the Reynolds, Smith and Hills, Inc. Employees 401(k) Profit Sharing
Plan for the years ended December 31, 1995, 1994 and 1993.
Deloitte & Touche, LLP
Jacksonville, Florida
September 16, 1996
