U.S. Department of Transportation, Maritime Administration—Sample Semiannual Report

[Illustrative sample of the report required by the Maritime Administration pursuant to 46 CFR part 390 prescribing the capital construction fund reporting requirements to be followed by those companies which are party to a capital construction fund agreement] Exhibit A—XYZ Co., Summary of cash, securities, and stock on deposit and net accrued deposits to and accrued withdrawals from the capital construction fund as of june 30, 19____ Thousands Cash (exhibit A-1 and B) $1,025 Securities and stock—adjusted basis (exhibit A-2 and B) 2,560 Fund total for tax purposes on deposit (exhibit C) 3,585 Net accrued deposits and withdrawals (exhibit A-3) 450 Fund total (agrees with balance sheet submitted at this date) on deposit for book purposes—June 30, 19____ 4,035 Portion of fund total for tax purposes as of June 30, 19____, which represents a “CCF: Security amount” pursuant to an agreement covering the dual use of a capital construction fund Thousands Balance brought forward $403 Deposits 82 Total “CCF: Security Amount” 485 Exhibit A-1—XYZ Company summary of cash on deposit in capital construction fund as of june 30, 19____ Thousands First American Bank, San Francisco, Calif., checking account No. 654-0876-211 $1,025 Total cash in capital construction fund at June 30, 19____ 1,025 Exhibit A-2—XYZ Co., Summary of Securities and Stock (Adjusted Basis and Fair Market Value) in Capital Construction Fund as of June 30, 19____(in Thousands) Adjusted basis Fair market value Treasury notes—due July 4, 19____, $800,000 face value, 1st American Bank, San Francisco, Calif., trust account No. 610-2135 $760 $760 Negotiable certificate of deposit—due July 31, 19____, $500,000 at 8 percent, 1st American Bank, San Francisco, Calif., CD No. 186007 500 500 U.S.A. Motors, Inc.—class A common stock, 5,000 shares, Southern California National Bank, trust account No. 358-21 625 725 Energy Co., Inc.—1st preferred, 4,100 shares, Southern California National Bank, trust account No. 358-21 205 255 Boon Corp.—class A common stock, 10,000 shares, Southern California National Bank, San Francisco, Calif., trust account No. 358-21 470 520 Total securities and stock in capital construction fund at June 30, 19____ 2,560 2,760 Exhibit A-3—XYZ Co., Summary of Net Accrued Deposits and Withdrawals in Capital Construction Fund as of June 19____ Thousands Accrued deposits: 19____ income (6 mos. ended June 30, 19____) $500 Depreciation 200 Total 700 Accrued withdrawals: Progress payment made from general fund—hull 210 250 Net accrued deposits and withdrawals in capital construction fund at June 30, 19____ 450 Exhibit B—XYZ Co., Transcript of Transactions in the Capital Construction Fund for the 6 Mos. Ended June 30, 19____ Date Description of transaction Cash Securities and stock (at adjusted basis) Detail Debit Credit Debit Credit Jan. 1, 19____ Balances brought forward $1,500,000 $2,000,000 Jan. 1, 19____ Bond debt payment—SS Smith. $250,000 Jan. 3, 19____ Deposit 19____ depreciation 300,000 Jan. 4, 19____ Purchased Treasury notes—90 days at 6-percent discount. 752,000 752,000 $800,000 at 6-percent discount. Feb. 29, 19____ Dividends earned 4,500 $0.45 per share on 10,000 shares Boon Corp. Mar. 15, 19____ Progress payment No. 3 hull 210. 172,500 Apr. 4, 19____ Sale of Treasury notes—cost 752,000 752,000 Income from sale 48,000 Apr. 4, 19____ Purchased Treasury notes 90 days at 5-percent discount 760,000 760,000 $800,000 at 5-percent discount. Apr. 15, 19____ Deposit from 19____ earnings 310,000 May 15, 19____ Progress payment No. 4—hull 210. 180,000 June 15, 19____ Sale of stock—cost 200,000 200,000 4,000 shares at $56.25 per share. Gain on sale of stock Energy Co., Inc. 25,000 Balances carried forward 1,025,000 2,560,000 Exhibit C—XYZ Co., Summary of Total Transaction Affecting the Tax Account Balances in the Capital Construction Fund for the 6 Mos. Ended June 30, 19____ Ordinary income Capital gain Capital Total Opening balance, Jan. 1, 19____ $1,000,000 $1,000,000 $1,500,000 $3,500,000 Deposits, income, transfers in, etc 362,500 25,000 300,000 687,500 Total 1,362,500 1,025,000 1,800,000 4,187,500 Withdrawals, losses, transfers out, etc 602,500 Balance at June 30, 19____ 1,362,500 1,025,000 1,197,500 3,585,000 Exhibit D—XYZ Company summary by vessel of qualified withdrawals from the fund for the six months ending june 30, 19____ A. Acquisition or Construction of Vessels (1) 80,000 dwt tanker: No qualified withdrawals have been made to date; construction is presently scheduled to commence in mid-1977. (2) 130-foot ocean tug hull No. 210: Balance brought forward $700,000 Qualified withdrawals during period 352,500 Total qualified withdrawals to date 1,052,500 130-foot ocean tug hull No. 211: No withdrawals have been made to date; construction is presently scheduled to commence in November 1975 B. Acquisition or Construction of Barges, Containers and Trailers 250-foot tank barge: No qualified withdrawals have been made to date; construction presently scheduled to commence in November 1975. C. Reconstruction of Vessels None. D. Reconstruction of Barges, Containers, and Trailers None. E. Payment of Principal on Existing Indebtedness SS Smith —Official No. 236425: Balance brought forward $500,000 Qualified withdrawals during period 250,000 Total qualified withdrawals to date 750,000