þ
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ANNUAL
REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF
1934
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o
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TRANSITION
REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF
1934
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Page(s)
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1.
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Report
of Independent Registered Public Accounting Firm
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1-2
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2.
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Statements
of Net Assets Available for Plan Benefits
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3
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3.
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Statements
of Changes in Net Assets Available for Plan Benefits
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4
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4.
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Notes
to Financial Statements
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5-12
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5.
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Supplemental
Schedule
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13
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6.
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Signatures
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14
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Exhibits.
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The
following exhibit is filed as a part of this annual
report:
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No.
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Description
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Exhibit 23.1
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Consent
of West & Company, LLC
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WEST
&
COMPANY,
LLC
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MEMBERS
E.
LYNN FREESE
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CERTIFIED PUBLIC ACCOUNTANTS
&
CONSULTANTS
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RICHARD
C. WEST
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1009
SOUTH HAMILTON
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OFFICES
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KENNETH
L. VOGT
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P.O.
BOX 80
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BRIAN
E. DANIELL
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SULLIVAN,
ILLINOIS 61951
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EDWARDSVILLE
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JANICE
K. ROMACK
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EFFINGHAM
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DIANA
R. SMITH
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GREENVILLE
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D.
RAIF PERRY
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(217)
728-4307
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MATTOON
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JOHN
H. VOGT
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www.westcpa.com
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SULLIVAN
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2007
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2006
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ASSETS: | |||||||
Investments
at fair value:
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$
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22,973
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$
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14,202
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Interest
bearing cash
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|||||||
MassMutual
Guaranteed Interest Accounts
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9,624,625
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7,700,373
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MassMutual
Separate Investment Accounts
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43,171,029
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40,440,202
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Employer
common stock
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205,690
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143,251
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Total
investments
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53,024,317
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48,298,028
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Receivables:
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Employer
contributions
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59,122
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38,301
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Participant
contributions
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81,071
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88,743
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Total
receivables
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140,193
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127,044
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Participant
loans
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1,257,513
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1,241,647
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Total
assets
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54,422,023
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49,666,719
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LIABILITIES: | |||||||
Excess
contributions due to participants
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14,684
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44,401
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Net
assets available for plan benefits at fair value
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54,407,339
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49,622,318
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Adjustment
from fair value to contract value for fully
benefit-responsive'investment
contracts
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357,148
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125,846
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Net
assets available for plan benefits
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$
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54,764,487
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$
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49,748,164
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2007
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2006
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ADDITIONS: | |||||||
Additions
to net assets attributed
to:
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Investment
income:
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Interest
and dividends
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$
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436,976
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$
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323,858
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Net
appreciation in fair value of
investments
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3,049,276
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4,613,313
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Transfers
from union plan
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- |
25,588
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3,486,252
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4,962,759
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Contributions:
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Participants
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2,616,784
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2,635,411
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Employer
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1,613,788
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1,787,468
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Rollovers
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139,521
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152,191
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Total
contributions
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4,370,093
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4,575,070
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Total
additions
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7,856,345
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9,537,829
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DEDUCTIONS | |||||||
Deductions
from net assets attributed to:
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Benefits
paid
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2,833,212
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4,806,963
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Administrative
expenses
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6,810
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8,140
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Total
deductions
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2,840,022
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4,815,103
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Net
increase
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5,016,323
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4,722,726
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NET
ASSETS AVAILABLE FOR PLAN BENEFITS:
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Beginning
of year
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49,748,164
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45,025,438
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End
of year
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$
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54,764,487
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$
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49,748,164
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1.
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DESCRIPTION
OF THE PLAN
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1.
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DESCRIPTION
OF THE
PLAN (Continued)
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1.
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DESCRIPTION
OF THE
PLAN (Continued)
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2.
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SUMMARY
OF ACCOUNTING POLICIES (Continued)
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2.
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SUMMARY
OF ACCOUNTING POLICIES (Continued)
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3.
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INVESTMENTS
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2007
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2006
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Units
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Value
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Units
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Value
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MassMutual
Separate Investment Accounts:
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MassMutual
Premier Core Value Equity
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434
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$
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2,954,897
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740
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$
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4,911,196
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MassMutual
Destination Retirement 2020
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11,304
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2,784,284
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12,973
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3,025,888
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MassMutual
Premier International Equity
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10,681
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5,734,380
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11,051
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5,240,977
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MassMutual
Premier Cap Appreciation
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16,110
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3,036,150
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- | - | |||||||||
MassMutual
Select Indexed Equity
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21,239
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8,445,129
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22,517
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8,526,526
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MassMutual
Select Focused Value
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16,489
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4,299,423
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15,060
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3,847,406
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MassMutual
Select Mid Cap Growth II
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14,840
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3,982,816
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13,803
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3,184,685
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MassMutual
Guaranteed Investment Accounts
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823,142
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9,981,773
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671,187
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7,826,219
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4.
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INVESTMENT
CONTRACT WITH
MASSMUTUAL
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4.
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INVESTMENT
CONTRACT WITH MASSMUTUAL
(Continued)
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5.
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PLAN
TERMINATION
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6.
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TAX
STATUS
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7.
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RISKS
AND
UNCERTAINTIES
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8.
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PLAN
AMENDMENTS
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9.
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PARTY-IN-INTEREST
TRANSACTIONS
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(b)
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(c)
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(d)
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(e)
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Identity
of Shares
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Current
Units/Shares
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Cost
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Current
Value
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*
MassMutual:
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MassMutual
Select Aggressive Growth
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25,628
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**
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$
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1,902,659
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MassMutual
Premier Capital Appreciation
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16,110
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**
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3,036,150
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MassMutual
Premier Core Bond
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1,299
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**
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2,004,834
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MassMutual
Premier Core Value Equity
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434
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**
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2,954,897
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MassMutual
Destination Retirement Income
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1,458
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**
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350,421
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MassMutual
Destination Retirement 2010
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4,991
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**
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631,182
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MassMutual
Destination Retirement 2020
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11,304
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**
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2,784,284
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MassMutual
Destination Retirement 2030
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9,540
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**
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2,359,090
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MassMutual
Destination Retirement 2040
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2,672
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**
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729,671
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MassMutual
Select Focused Value
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16,489
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**
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4,299,423
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MassMutual
Select Indexed Equity
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21,239
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**
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8,445,129
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MassMutual
Premier International Equity
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10,681
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**
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5,734,380
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MassMutual
Select Large Cap Value
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8,808
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**
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1,829,063
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MassMutual
Select Mid Cap Growth II
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14,840
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**
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3,982,816
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MassMutual
Select Mid Cap Value
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770
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**
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79,708
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MassMutual
Select Small Cap Value Equity
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3,131
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**
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302,273
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MassMutual
Select Diversified Value
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751
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**
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104,949
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MassMutual
Small Cap Select
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6,774
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**
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702,227
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MassMutual
Select Overseas
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5,488
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**
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937,873
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SF
Guaranteed
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823,142
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**
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9,981,773
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*Consolidated
Communications Holdings, Inc.
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common
stock, $,01 par value
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17,815
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**
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228,663
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*Participant
loans, 5-10.5%
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-
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-
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Consolidated
Communications, Inc. 401(k) Plan, by
Consolidated
Communications, Inc., as Plan Administrator
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Date:
June 27,
2008
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By: |
/s/
Steven L. Childers
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Chief
Financial Officer, Consolidated Communications,
Inc.
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