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ANNUALREPORT
FOR THE PERIOD
Beginning January 1, 1999 and Ending December 31, 1999
TO THE
US SECURITIES AND EXCHANGE COMMISSION
OF
UNITIL RESOURCES, INC.
Date of Incorporation May 26,1993
State of Incorporation New Hampshire
Location of Principal Executive Offices of Reporting Company:
6 Liberty Lane West
Hampton, New Hampshire 03842-1720
Name, Title and address of officer to whom correspondence concerning this
report should be addressed:
Anthony J. Baratta, Jr., Chief Financial Officer
6 Liberty Lane West
Hampton, New Hampshire 03842-1720
Name of Principal Holding Company:
UNITIL Corporation
(1) This report is being filed pursuant to the requirements of H.C.A.R.
Number 35-25816, which specifies that UNITIL Resources, Inc. must file an
annual report using, where applicable, Form U-13-60 reporting format.
ANNUAL REPORT OF UNITIL RESOURCES, INC. 2
For the Year Ended December 31, 1999
LISTING OF SCHEDULES AND ANALYSIS OF ACCOUNTS Page
Number
Description of Schedules and Accounts Schedule or Account
Number
COMPARATIVE BALANCE, Schedule 1 4-5
COMPANY PROPERTY Schedule 11 6-7
ACCUMULATED PROVISION FOR DEPRECIATION
AND AMORTIZATION OF COMPANY PROPERTY Schedule III 8
INVESTMENTS Schedule IV 9
ACCOUNTS RECEIVABLE FROM ASSOCIATE
COMPANIES Schedule V 10
FUEL STOCK EXPENSES UNDISTRIBUTED Schedule VI 11
STORES EXPENSE UNDISTRIBUTED Schedule VII 12
UNBILLED AND ACCRUED REVENUES Schedule VIII 13
MISCELLANEOUS DEFERRED DEBITS Schedule IX 14
RESEARCH, DEVELOPMENT, OR DEMONSTRATION
EXPENDITURES Schedule X 15
PROPRIETARY CAPITAL Schedule XI 16
LONG-TERM DEBT Schedule XII 17
CURRENT AND ACCRUED LIABILITIES Schedule XIII 18
NOTES TO FINANCIAL STATEMENTS Schedule XIV 19
COMPARATIVE INCOME STATEMENT Schedule XV 20
ANALYSIS OF BILLING - ASSOCIATE COMPANIES Account451 21
ANALYSIS OF BILLING - NONASSOCIATE COMPANIES Account 451 22
ANALYSIS OF CHARGES FOR SERVICE - ASSOCIATE
AND NONASSOCIATE COMPANIES Schedule XVI 23
SCHEDULE OF EXPENSE BY DEPARTMENT OR
FUNCTION Schedule XVII 24-25
DEPARTMENTAL ANALYSIS OF SALARIES Account920 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 RESOURCES, INC. 3
For the Year Ended December 31, 1999
LISTING OF INSTRUCTIONAL FILING REQUIREMENTS Page
Number
Description of Reports or Statements
ORGANIZATION CHART 37
METHODS OF ALLOCATION 38
ANNUAL STATEMENT OF COMPENSATION FOR USE 39
OF CAPITAL BILLED
ANNUAL REPORT OF UNITIL RESOURCES, INC. 4
For the Year Ended December 31, 1999
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
COMPANY PROPERTY
101 Company property (Schedule 11) 686,771 0
107 Construction work in progress
(Schedule 11) 0 0
Total Property 686,771 0
108 Less accumulated provision for depreciation
and amortization of company
property (Schedule 111) 99,733 0
Net Company Property 587,038 0
INVESTMENTS
123 Investments in associate
companies (Schedule IV) 0 0
124 Other investments (Schedule IV) 0 0
Total investments 0 0
CURRENT AND ACCRUED ASSETS
131 Cash 7,183 133,976
134 Special deposits 0 0
135 Working funds 0 0
136 Temporary cash investments (Schedule IV) 0 0
141 Notes receivable 0 0
143 Accounts receivable 91,858 138,238
144 Accumulated provision for uncollectable
accounts (8,796) (2,447)
146 Accounts receivable from associate 0 0
companies (Schedule V) 0 0
152 Fuel stock expense undistributed (Schedule VI) 0 0
154 Materials and supplies 0 0
163 Stores expense undistributed (Schedule VII) 0 0
165 Prepayments 11,045 31,368
173 Unbilled and Accrued Revenues
(Schedule VIII) 0 125,585
Total Current and Accrued Assets 101,290 426,720
DEFERRED DEBITS
181 Unamortized debt expense 0 0
184 Clearing accounts 0 0
186 Miscellaneous deferred debits
(Schedule IX 80,050 3,724
188 Research, development, or demonstration
expenditures (Schedule X) 0 0
190 Accumulated deferred income tax 0 0
Total Deferred Debits 80,050 3,724
TOTAL ASSETS AND OTHER DEBITS 768,378 430,444
ANNUAL REPORT OF UNITIL RESOURCES, INC. 5
For the Year Ended December 31, 1999
SCHEDULE I - COMPARATIVE BALANCE SHEET
ACCOUNT LIABILITIES AND PROPRIETARY CAPITAL AS OF DECEMBER 31
CURRENT PRIOR
PROPRIETARY CAPITAL
201 Common stock issued (Schedule XI) 100 100
207 Premium on common stock (Schedule XI) 9,900 9,900
211 Miscellaneous Paid in Capital 1,090,000 590,000
215 Appropriated retained
earnings (Schedule XI) 0 0
216 Unappropriated retained
earnings (Schedule XI) (741,272)(217,601)
Total Proprietary Capital 358,728 382,399
LONG-TERM DEBT
223 Advancesfromassociatecompanies (ScheduleXII) 0 0
224 Other long-term debt (Schedule XII) 0 0
225 Unamortized premium on long- term debt 0 0
226 Unamortized discount on long-term debt-debit 0 0
Total Long-Term Debt 0 0
227 Obligations under capital leases - non-current 0 0
CURRENT AND ACCRUED LIABILITIES
231 Notes payable 168,545 0
232 Accounts payable 149,195 16,446
233 Notes payable to associate
companies (Schedule XIII) 0 0
234 Accounts payable to associate
companies (Schedule XIII) 130,302 38,386
236 Taxes accrued (15,999) (5,938)
237 Interest accrued 0 0
238 Dividends declared 0 0
241 Tax collections payable 0 0
242 Miscellaneous current and accrued
liabilities (Schedule Xill) 2,338 100
243 Obligations under capital leases - current 0 0
Total Current and Accrued Liabilities 434,381 48,994
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 (24,731) (949)
TOTAL LIABILITIES AND PROPRIETARY CAPITAL 768,378 430,444
ANNUAL REPORT OF UNITIL RESOURCES, INC. 6
For the Year Ended December 31, 1999
SCHEDULE 11 - COMPANY PROPERTY
BALANCE AT RETIREMENTS OTHER BALANCE AT
BEGINNING ADDITIONS OR CHANGES 1/ CLOSE OF
DESCRIPTION OF YEAR SALES YEAR
COMPANY PROPERTY
Account
301 ORGANIZATION
303 MISCELLANEOUS
INTANGIBLE PLANT
304 LAND AND LAND RIGHTS
305 STRUCTURES AND
IMPROVEMENTS
306 LEASEHOLD
IMPROVEMENTS
307 EQUIPMENT 2/
308 OFFICE FURNITURE 102,690 102,690
AND EQUIPMENT
309 AUTOMOBILES, OTHER
VEHICLES AND
RELATED GARAGE
EQUIPMENT
310 AIRCRAFT AND
AIRPORT EQUIPMENT
311 OTHERCOMPANY
PROPERTY 3/ 584,081 584,081
SUB-TOTAL 0 686,771 0 0 686,771
107 CONSTRUCTION WORK
IN PROGRESS
TOTAL 0 686,771 0 0 686,771
1/ PROVIDE AN EXPLANATION OF THOSE CHANGES CONSIDERED MATERIAL:
ANNUAL REPORT OF UNITIL RESOURCES, INC. 7
For the Year Ended December 31, 1999
SCHEDULE 11 - CONTINUED
21 SUBACCOUNTS ARE REQUIRED FOR EACH CLASS OF EQUIPMENT OWNED. THE
COMPANY SHALL PROVIDE A LISTING BY SUBACCOUNT OF EQUIPMENT ADDITIONS
DURING THE YEAR AND THE BALANCE AT THE CLOSE OF THE YEAR:
BALANCE AT
SUBACCOUNT DESCRIPTION ADDITIONS CLOSE OF
YEAR
NONE
TOTAL 0 0
3/ DESCRIBE OTHER COMPANY PROPERTY:
Software Licenses 584,081 584,081
TOTAL 584,081 584,081
4/ DESCRIBE CONSTRUCTION WORK IN PROGRESS:
NONE
ANNUAL REPORT OF UNITIL RESOURCES, INC. 8
For the Year Ended December 31, 1999
SCHEDULE III
ACCUMULATED PROVISION FOR DEPRECIATION AND
AMORTIZATION OF COMPANY PROPERTY
BALANCE AT ADDITIONS BALANCE AT
BEGINNING CHARGED OTHER CHANGES CLOSE OF
DESCRIPTION OF YEAR TO RETIREMENTS ADD(DEDUCT)l/ YEAR
ACCOUNT 403
Account
301 ORGANIZATION
303 MISCELLANEOUS
INTANGIBLE PLANT
304 LAND AND LAND RIGHTS
035 STRUCTURES AND
IMPROVEMENTS
306 LEASEHOLD
IMPROVEMENTS
307 EQUIPMENT 2/
308 OFFICE FURNITURE
AND EQUIPMENT 24,586 24,586
309 AUTOMOBILES, OTHER
VEHICLES AND
RELATED GARAGE
EQUIPMENT
310 AIRCRAFT AND
AIRPORT EQUIPMENT
311 OTHER
COMPANY PROPERTY 3/ 75,147 75,147
TOTAL 0 99,733 99,733
1/ PROVIDE AN EXPLANATION OF THOSE CHANGES CONSIDERED MATERIAL:
9
ANNUAL REPORT OF UNITIL RESOURCES, INC.
For the Year Ended December 31, 1999
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
DESCRIPTION BEGINNING CLOSE
OF YEAR OF YEAR
ACCOUNT 123 - INVESTMENT IN
ASSOCIATE COMPANIES 0 0
ACCOUNT 124 - OTHER INVESTMENTS 0 0
ACCOUNT 136 - TEMPORARY
CASH INVESTMENTS 0 0
TOTAL 0 0
ANNUAL REPORT OF UNITIL RESOURCES, INC. 10
For the Year Ended December 31, 1999
SCHEDULE V - ACCOUNTS RECEIVABLE FROM ASSOCIATE COMPANIES
INSTRUCTIONS: Complete the following schedule listing accounts receivable
from each associate company. Where the company has provided accommodation
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 AT BALANCE AT
DESCRIPTION BEGINNING CLOSE
OF YEAR OF YEAR
ACCOUNT 146 - ACCOUNTS RECEIVABLE
FROM ASSOCIATE COMPANIES 0 0
TOTAL 0 0
ANALYSIS OF CONVENIENCE OR ACCOMMODATION PAYMENTS:
NONE
TOTAL PAYMENTS 0
ANNUAL REPORT OF UNITIL RESOURCES, INC.
For the Year Ended December 31, 1999
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
company.
DESCRIPTION LABOR EXPENSE TOTAL
ACCOUNT 152 - FUEL STOCK EXPENSE
UNDISTRIBUTED 0 0 0
TOTAL 0 0 0
SUMMARY:
ANNUAL REPORT OF UNITIL RESOURCES, INC. 12
For the Year Ended December 31, 1999
SCHEDULE VII - STORES EXPENSE UNDISTRIBUTED
INSTRUCTIONS: Report the amount of labor and expenses incurred with
respect to stores expense during the year and indicate amount attributable
to each associate company.
DESCRIPTION LABOR EXPENSE TOTAL
ACCOUNT 163 - STORES EXPENSE
UNDISTRIBUTED 0 0 0
TOTAL 0 0 0
ANNUAL REPORT OF UNITIL RESOURCES, INC. 13
For the Year Ended December 31, 1999
SCHEDULE VIII
UNBILLED AND ACCRUED REVENUE
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 173 - ACCRUED AND
UNBILLED REVENUE 125,585 0
TOTAL 125,585 0
ANNUAL REPORT OF UNITIL RESOURCES, INC. 14
For the Year Ended December 31, 1999
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
Consulting Fees 3,724 80,000
Other Deferred 0 50
TOTAL 3,724 80,050
ANNUAL REPORT OF UNITIL RESOURCES, INC. 15
For the Year Ended December 31, 1999
SCHEDULE X
RESEARCH, DEVELOPMENT OR DEMONSTRATION EXPENDITURES
INSTRUCTIONS: Provide a description of each material research,
development, or demonstration project which incurred costs by the company
during the year.
BALANCE AT
DESCRIPTION CLOSE
OF YEAR
ACCOUNT 188 - RESEARCH, DEVELOPMENT OR DEMONSTRATION
EXPENDITURES 0
0
TOTAL
ANNUAL REPORT OF UNITIL RESOURCES, INC. 16
For the Year Ended December 31, 1999
SCHEDULE XI - PROPRIETARY CAPITAL
OUTSTANDING CLOSE OF PERIOD
ACCOUNT NUMBER CLASS OF NUMBER OF PAR OR STATED
STOCK SHARES VALUE
AUTHORIZED PER SHARE NO.OF SHARES TOTAL AMOUNT
201 COMMON STOCK
ISSUED 10,000 1.00 100 100
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 207 - PREMIUM ON COMMON STOCK 9,900
ACCOUNT 211 - MISCELLANEOUS PAID IN CAPITAL 1,090,000
ACCOUNT 215 - APPROPRIATED RETAINED EARNINGS
TOTAL 1,099,900
BALANCE AT NET INCOME BALANCE AT
DESCRIPTION BEGINNING OR DIVIDENDS CLOSE
OF YEAR (LOSS) PAID OF YEAR
ACCOUNT 216 - UNAPPROPRIATED
RETAINED
EARNINGS (217,601) (523,671) 0 (741,272)
TOTAL (217,601) (523,671) 0 (741,272)
ANNUAL REPORT OF UNITIL RESOURCES, INC. 17
For the Year Ended December 31, 1999
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, in erest rate, and the amount authorized and
outstanding.
TERMS OF
OBLIG CLASS INT. BALANCE AT
NAME OF & SERIES OF DATE RATE AMOUNT BEGINNING ADD. DEDUCT. CLOSE
CREDITOR OBLIGATION MATURITY AUTHO- OF YEAR OF YEAR
IZED
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:
ANNUAL REPORT OF UNITIL RESOURCES, INC. 18
For the Year Ended December 31, 1999
SCHEDULE XIII - CURRENT AND ACCRUED LIABILITIES
INSTRUCTIONS: Provide balance of notes and accounts payable to each
associate company. Give description and amount of miscellaneous current and
accrued liabilities. Items less than $10,000 may be grouped, showing the
number of items in each group.
BALANCE AT BALANCE AT
DESCRIPTION BEGINNING CLOSE
OF YEAR OF YEAR
ACCOUNT 233 - NOTES PAYABLE TO
ASSOCIATE COMPANIES
MONEYPOOL 0 0
TOTAL 0 0
ACCOUNT 234 - ACCOUNTS PAYABLE TO ASSOCIATE
COMPANIES
UNITIL Service Corp. 8,787 122,232
UNITIL Power Corp 29,599 0
UNITIL Corp. 0 8,070
TOTAL 29,599 130,302
ACCOUNT 242 - MISCELLANEOUS
CURRENT AND ACCRUED
LIABILITIES
Accrued Expenses 100 2,338
TOTAL 100 2,338
ANNUAL REPORT OF UNITIL RESOURCES, INC. 19
For the Year Ended December 31, 1999
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 Resources, Inc. (URI), a wholly-owned subsidiary of UNITIL
Corporation, a public utility holding company, provides consulting and other
services on energy related matters to non-affiliates. These services
include power brokering, financial, accounting, regulatory and related
operational services. In 1999, URI licensed Internet-based software
technology for brokering electrictiy and natural gas sales between consumers
and suppliers. Under the name "Usource" it offers retail energy consumers
the market benefits of energy supply bidding with the efficiency and cost
benefits of e-commerce. URI is subject to the jurisdiction of the Securities
and Exchange Commission (SEC) under the Public Utility Holding Company Act
of 1935. URI prepares its financial statements in conformity with generally
accepted accounting principles.
Please refer to the 1999 Unitil Corporation Form 10-K for additional
disclosures.
ANNUAL REPORT OF UNITIL RESOURCES, INC. 20
For the Year Ended December 31, 1999
SCHEDULE XV
STATEMENT OF INCOME
ACCOUNT DESCRIPTION CURRENT PRIOR
YEAR YEAR
INCOME
451 Service revenue 900,194 670,668
451.01 Accrued and unbilled service revenue (125,585) 40,048
419 Interest Income 0 0
421 Miscellaneous income or loss 3,346 12,406
Total Income 777,955 723,122
EXPENSE
920 Salaries and wages 123,126 0
921 Office supplies and expenses 39,004 3,476
922 Administrative expense transferred -
credit 0 0
923 Outside services employed 552,402 185,570
924 Property insurance 0 0
925 Injuries and damages 889 3,461
926 Employee pensions and benefits 1,513 0
928 Regulatory commission expense 0 0
930.1 General advertising expense 23,502 20,513
930.2 Miscellaneous general expense 12,112 1,122
931 Rents 350 0
932 Maintenance of structures and
equipment 0 0
403 Depreciation and amortization expense 103,457 0
408 Taxes other than income taxes 9,231 0
409 Income taxes (244,437) (68,100)
410 Provision for deferred income taxes (23,783) 7
411 Provision for deferred income taxes -
credit 0 0
411.5 Investment tax credit 0 0
426.1 Donations 0 0
426.5 Other deductions 0 0
427 Interest on long-term debt 0 0
430 Interest on debt to associate
companies 22,348 6,288
431 Other interest expense 0 0
555 Purchase Power Expense 665,162 703,015
904 Customer Accounting 16,750 0
Total Expense 1,301,626 855,352
Net Income or (LOSS) (523,671) (132,230)
ANNUAL REPORT OF UNITIL RESOURCES, INC. 21
For the Year Ended December 31, 1999
ANALYSIS OF BILLING
ASSOCIATE COMPANIEs
ACCOUNT 451
DIRECT INDIRECT COMPENSATION TOTAL
COSTS COSTS FOR USE AMOUNT
NAME OF CONTRACT CHARGED CHARGED OF CAPITAL BILLED
451 451 451
NONE
TOTAL 0 0 0 0
ANNUAL REPORT OF UNITIL RESOURCES, INC. 22
For the Year Ended December 31, 1999
ANALYSIS OF BILLING
NONASSOCIATE COMPANIES
ACCOUNT 451
NAME OF COMPENSATION EXCESS TOTAL
NONASSOCIATE DIRECT INDIRECT FOR USE OF TOTAL OR AMOUNT
COMPANY CHARGES CHARGES CAPITAL CHARGES DEFICIENCY BILLED
NH PILOT
PROGRAM 624,171 0 0 624,171 0 624,171
REVENUES(a)
Usource(b) 44,906 0 0 44,906 0 44,906
Miscellaneous
Short-term
Contracts(c) 105,532 0 0 105,532 0 105,532
TOTAL 774,609 0 0 774,609 0 774,609
INSTRUCTION: Provide a brief description of the services rendered to each
nonassociate company.
(a) Revenue generated from power sales through the pilot program.
(b) Revenue generated from power sales through the internet exchange.
(c) Revenue generated from consulting services.
ANNUAL REPORT OF UNITIL RESOURCES, INC. 23
For the Year Ended December 31, 1999
SCHEDULE XVI
ANALYSIS OF CHARGES FOR SERVICE
ASSOCIATE AND NONASSOCIATE COMPANIES
ASSOCIATE COMPANY CHARGES
DESCRIPTION OF ITEMS DIRECT INDIRECT
COST COST TOTAL
920 SALARIES AND WAGES NOT APPLICABLE 0
921 OFFICE SUPPLES AND EXPENSES 0
922 ADMIN EXPENSE TRANS-CREDIT 0
923 OUTSIDE SERVICES EMPLOYED 0
924 PROPERTY INSURANCE 0
925 INJURIES AND DAMAGES 0
926 EMPLOYEE PENSIONS AND BENEFITS 0
928 REGULATORY COMMISSION EXPENSE 0
930.1 GENERAL ADVERTISING EXPENSE 0
930.2 MISC. GENERAL EXPENSE 0
931 RENTS 0
932 MAINT. OF STRUCT. & EQUIP. 0
403 DEPR. AND AMORT. EXPENSE 0
408 TAXES OTHER THAN INCOME 0
409 INCOME TAXES 0
410 PROV FOR DEF INC TAXES 0
411 PROV FOR DEF INC TAX CREDIT 0
411.5 INVESTMENT TAX CREDIT 0
419 INTEREST INCOME 0
426.1 DONATIONS 0
426.5 OTHER DEDUCTIONS 0
427 INTEREST ON LONG-TERM DEBT 0
431 OTHER INTEREST EXPENSE 0
SUBTOTAL EXPENSES 0 0 0
COMPENSATION FOR USE OF EQUITY CAPITAL 0
430 INTEREST ON DEBT TO ASSOCIATE CO.'S 0 0 0
TOTAL EXPENSES 0 0 0
421 MISCELLANEOUS INCOME 0 0 0
TOTAL COST OF SERVICE 0 0 0
SCHEDULE XVI
ANALYSIS OF CHARGES FOR SERVICE
ASSOCIATE AND NONASSOCIATE COMPANIES
NONASSOCIATE COMPANY CHARGES
DESCRIPTION OF ITEMS DIRECT INDIRECT
COST COST TOTAL
920 SALARIES AND WAGES 0
921 OFFICE SUPPLES AND EXPENSES 0
922 ADMIN EXPENSE TRANS-CREDIT 0
923 OUTSIDE SERVICES EMPLOYED 0
924 PROPERTY INSURANCE 0
925 INJURIES AND DAMAGES 0
926 EMPLOYEE PENSIONS AND BENEFITS 0
928 REGULATORY COMMISSION EXPENSE 0
930.1 GENERAL ADVERTISING EXPENSE 0
930.2 MISC. GENERAL EXPENSE 0
931 RENTS 0
932 MAINT. OF STRUCT. & EQUIP. 0
403 DEPR. AND AMORT. EXPENSE 0
408 TAXES OTHER THAN INCOME 0
409 INCOME TAXES 0
410 PROV FOR DEF INC TAXES 0
411 PROV FOR DEF INC TAX CREDIT 0
411.5 INVESTMENT TAX CREDIT 0
419 INTEREST INCOME 0
426.1 DONATIONS 0
426.5 OTHER DEDUCTIONS 0
427 INTEREST ON LONG-TERM DEBT 0
431 OTHER INTEREST EXPENSE 0
SUBTOTAL EXPENSES 0 0 0
COMPENSATION FOR USE OF EQUITY CAPITAL 0
430 INTEREST ON DEBT TO ASSOCIATE CO.'S 0 0 0
TOTAL EXPENSES 0 0 0
421 MISCELLANEOUS INCOME 0 0 0
TOTAL COST OF SERVICE 0 0 0
SCHEDULE XVI
ANALYSIS OF CHARGES FOR SERVICE
ASSOCIATE AND NONASSOCIATE COMPANIES
TOTAL CHARGES FOR SERVICE
DESCRIPTION OF ITEMS DIRECT INDIRECT
COST COST TOTAL
920 SALARIES AND WAGES 0 0 0
921 OFFICE SUPPLES AND EXPENSES 0 0 0
922 ADMIN EXPENSE TRANS-CREDIT 0 0 0
923 OUTSIDE SERVICES EMPLOYED 0 0 0
924 PROPERTY INSURANCE 0 0 0
925 INJURIES AND DAMAGES 0 0 0
926 EMPLOYEE PENSIONS AND BENEFITS 0 0 0
928 REGULATORY COMMISSION EXPENSE 0 0 0
930.1 GENERAL ADVERTISING EXPENSE 0 0 0
930.2 MISC. GENERAL EXPENSE 0 0 0
931 RENTS 0 0 0
932 MAINT. OF STRUCT. & EQUIP. 0 0 0
403 DEPR. AND AMORT. EXPENSE 0 0 0
408 TAXES OTHER THAN INCOME 0 0 0
409 INCOME TAXES 0 0 0
410 PROV FOR DEF INC TAXES 0 0 0
411 PROV FOR DEF INC TAX CREDIT 0 0 0
411.5 INVESTMENT TAX CREDIT 0 0 0
419 INTEREST INCOME 0 0 0
426.1 DONATIONS 0 0 0
426.5 OTHER DEDUCTIONS 0 0 0
427 INTEREST ON LONG-TERM DEBT 0 0 0
431 OTHER INTEREST EXPENSE 0 0 0
SUBTOTAL EXPENSES 0 0 0
COMPENSATION FOR USE OF EQUITY CAPITAL 0
430 INTEREST ON DEBT TO ASSOCIATE CO.'S 0 0 0
TOTAL EXPENSES 0 0 0
421 MISCELLANEOUS INCOME 0 0 0
TOTAL COST OF SERVICE 0 0 0
ANNUAL REPORT OF UNITIL RESOURCES, INC. 24-25
FORM U-13-60
For the Year Ended December 31, 1999
SCHEDULE XVII
SCHEDULE OF EXPENSE DISTRIBUTION
BY
DEPARTMENT OR SERVICE FUNCTION
DEPARTMENT OR FUNCTION
DESCRIPTION OF ITEMS TOTAL OVER-
AMOUNT HEAD NONE
920 SALARIES AND WAGES 0
921 OFFICE SUPPLES AND EXPENSES 0 Non-applicable
922 ADMIN. EXPENSE TRANS-CREDIT 0
923 OUTSIDE SERVICES EMPLOYED 0
924 PROPERTY INSURANCE 0
925 INJURIES AND DAMAGES 0
926 EMPLOYEE PENSIONS AND BENEFITS 0
928 REGULATORY COMMISSION EXPENSE 0
930.1 GENERAL ADVERTISING EXPENSE 0
930.2 MISC. GENERAL EXPENSE 0
931 RENTS 0
932 MAINT. OF STRUCT. & EQUIP. 0
403 DEPR. AND AMORT. EXPENSE 0
408 TAXES OTHER THAN INCOME 0
409 INCOME TAXES 0
410 PROV. FOR DEF. INC. TAXES 0
411 PROV. FOR DEF. INC. TAX CREDIT 0
411.5 INVESTMENT TAX CREDIT 0
426.1 DONATIONS 0
426.5 OTHER DEDUCTIONS 0
427 INTEREST ON LONG-TERM DEBT 0
430 INTEREST ON DEBT TO ASSOCIATE COMPANIES 0
431 OTHER INTEREST EXPENSE 0
ANNUAL REPORT OF UNITIL RESOURCES, INC. 26
For the Year Ended December 31, 1999
DEPARTMENTAL ANALYSIS OF SALARIES
ACCOUNT 920
DEPARTMENTAL SALARY EXPENSE NUMBER
NAME OF DEPARTMENT INCLUDED IN AMOUNTS BILLED TO PERSONNEL
Indicate each TOTAL PARENT OTHER NON END OF
department AMOUNT COMPANY ASSOCIATES ASSOCIATES YEAR
or function
Non-applicable
TOTAL 0 0 0 0 0
ANNUAL REPORT OF UNITIL RESOURCES, INC. 27
For the Year Ended December 31, 1999
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 $100,000, 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
UNITIL Service Corp. A 533,778
Outside Services - Legal
Various NA 16,232
Outside Services - Other
Various NA 2,392
TOTAL 552,402
ANNUAL REPORT OF UNITIL RESOURCES, INC. 28
For the Year Ended December 31, 1999
EMPLOYEE PENSIONS AND BENEFITS
ACCOUNT 926
INSTRUCTIONS: Provide a listing of each pension plan and benefit program
provided by the company. Such listing should be limited to $25,000.
DESCRIPTION AMOUNT
Pension and Benefits 1,513
TOTAL 1,513
ANNUAL REPORT OF UNITIL RESOURCES, INC. 29
For the Year Ended December 31, 1999
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 definition. If
a particular class includes an amount in excess of $3,000 applicable to a
single payee, show separately the name of the payee and the aggregate amount
applicable thereto.
DESCRIPTION NAME OF PAYEE AMOUNT
Advertising
Advance Notice, Inc. 7,977
Aurora 5,050
Bonci on Design 4,317
Various 6,158
TOTAL 23,502
ANNUAL REPORT OF UNITIL RESOURCES, INC. 30
For the Year Ended December 31, 1999
MISCELLANEOUS GENERAL EXPENSES
ACCOUNT 930.2
INSTRUCTIONS: Provide a listing of the amount included in 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
Business Development 8,468
Communications 3,168
Other 476
TOTAL 12,122
ANNUAL REPORT OF UNITIL RESOURCES, INC. 31
For the Year Ended December 31, 1999
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 Rent 350
TOTAL 350
ANNUAL REPORT OF UNITIL RESOURCES, INC. 32 For the Year Ended
December 31, 1999
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 Unemployment Tax 131
U.S. Government Tax
Federal Insurance Contribution Act 8,876
Federal Unemployment Tax 224
TOTAL 9,231
ANNUAL REPORT OF UNITIL RESOURCES, INC. 33
For the Year Ended December 31, 1999
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
None
TOTAL
ANNUAL REPORT OF UNITIL RESOURCES, INC. 34
For the Year Ended December 31, 1999
OTHER DEDUCTIONS
ACCOUNT 426.5
INSTRUCTIONS: Provide a listing of the amount included in
Account 426.5, "Other Deductions", classifying such expenses according to
their nature.
DESCRIPTION NAME OF PAYEE AMOUNT
None
TOTAL 0
ANNUAL REPORT OF UNITIL RESOURCES, INC. 35
For the Year Ended December 31, 1999
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 RESOURCES, INC. 36
For the Year Ended December 31, 1999
SCHEDULE XIX - FINANCIAL DATA SCHEDULE
ITEM NO. CAPTION HEADING AMOUNT
1 Net Service Company Property 587,038
2 Total Investments 0
3 Total Current and Accrued Assets 101,290
4 Total Deferred Debits 80,050
5 Balancing Amount for Total Assets and Other Debits 0
6 Total Assets and Other Debits 768,378
7 Total Proprietary Capital 358,728
8 Total Long-Term Debt 0
9 Notes Payable 0
10 Notes Payable to Associate Companies 168,545
11 Balancing Amount for Total Current and
Accrued Liabilities 265,836
12 Total Deferred Credits 0
13 Accumulated Deferred Income Taxes (24,731)
14 Total Liabilities and Proprietary Capital 768,378
15 Service Revenue 900,194
16 Accrued and Unbilled Service Revenue (125,585)
17 Miscellaneous Income or Loss 3,346
18 Total Income 777,955
19 Salaries and Wages 123,126
20 Employee Pensions and Benefits 0
21 Balancing Amount for Total Expenses 1,178,500
22 Total Expenses 1,301,626
23 Net Income (Loss) (523,671)
24 Total Expenses (Direct Costs) N/A
25 Total Expenses (Indirect Costs) N/A
26 Total Expenses (Total) 1,301,626
27 Number of Personnel End of Year 4
ANNUAL REPORT OF UNITIL RESOURCES, INC. 37
For the Year Ended December 31, 1999
ORGANIZATION CHART
Organization Chart as of December 31,1999
President James G. Daly**
Vice President Todd R. Black
Vice President & Treasurer Mark H. Collin
Controller Laurence M. Brock
Secretary Sandra L. Whitney
** James G. Daly resigned effective 2/7/2000.
ANNUAL REPORT OF UNITIL RESOURCES, INC. 38
For the Year Ended December 31, 1999
METHODS OF ALLOCATION
SEE UNITIL SERVICE CORP. U-13-60
ANNUAL REPORT OF UNITIL RESOURCES, INC.
For the Year Ended December 31, 1999 39
ANNUAL REPORT OF UNITIL RESOURCES, INC.
ANNUAL STATEMENT OF COMPENSATION FOR USE OF CAPITAL BILLED
Non applicable
ANNUAL REPORT OF UNITIL RESOURCES, INC. 40
For the Year Ended December 31, 1999
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 Resources, Inc.
(Name of Reporting Company)
By: /s/ Anthony J. Baratta, Jr., CFO
(Signature of Signing Officer)
Anthony J. Baratta Jr., CFO
(Printed Name and Title of Signing Officer)
Date: April 28, 2000