1999 Annual Report to Congress and the FCC


UNIVERSAL SERVICE ADMINISTRATIVE COMPANY

STATEMENT OF REVENUE AND EXPENSES
FOR THE PERIOD SEPTEMBER 17, 1997 (INCEPTION)
THROUGH DECEMBER 31, 1998

(in thousands)

REVENUE:  
Contract Revenue $4,496
   
EXPENSES:  
Personnel and related expenses 183
General and administrative 382
Depreciation and amortization 2
Contractual expenses (Notes 1 and 2) 3,929
   
Total expenses 4,496
Net Income $ -


The accompanying notes to financial statements are an integral part of this statement.

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