FORM 10-Q
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
(Mark one)
[x] Quarterly report pursuant to section 13 or 15(d) of the Securities Exchange
Act of 1934
For the quarterly period ended
MARCH 31, 2001
[ ] Transition report pursuant to section 13 or 15(d) of the Securities
Exchange Act of 1934
For the transition period from to
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Commission File Number 0-15378
CABLE TV FUND 14-A, LTD.
Exact name of registrant as specified in charter
Colorado #84-1024657
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State of organization I.R.S. employer I.D. #
c/o Comcast Corporation
1500 Market Street, Philadelphia, PA 19102-2148
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Address of principal executive office
(215) 665-1700
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Registrant's telephone number
Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter period that the registrant was
required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days.
Yes X No
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CABLE TV FUND 14-A, LTD.
(A Limited Partnership)
CONDENSED BALANCE SHEET
(Unaudited)
March 31, December 31,
ASSETS 2001 2000
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Cash $4,325,856 $9,904,418
Interest receivable............................................................. 79,011 50,893
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$4,404,867 $9,955,311
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LIABILITIES AND PARTNERS' CAPITAL
LIABILITIES:
Advances from affiliates..................................................... $7,872 $40,656
Accrued distribution to General Partner...................................... 1,875,000
Accounts payable and accrued liabilities..................................... 632,500 657,839
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Total liabilities...................................................... 2,515,372 698,495
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PARTNERS' CAPITAL:
General Partner-
Contributed capital........................................................ 1,000 1,000
Distribution............................................................... (5,101,517) (3,226,517)
Accumulated earnings....................................................... 5,572,891 5,539,721
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472,374 2,314,204
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Limited Partners-
Net contributed capital (160,000 units outstanding
at March 31, 2001 and December 31, 2000)................................... 68,722,000 68,722,000
Distributions................................................................ (115,304,552) (109,679,552)
Accumulated earnings......................................................... 47,999,673 47,900,164
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1,417,121 6,942,612
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$4,404,867 $9,955,311
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See notes to condensed financial statements.
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CABLE TV FUND 14-A, LTD.
(A Limited Partnership)
CONSENSED STATEMENT OF OPERATIONS
(Unaudited)
For the Three Months Ended
March 31,
2001 2000
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OTHER INCOME (EXPENSE):
Interest income.............................................................. $170,969 $231,352
Other, net................................................................... (38,290) (51,185)
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Total other income, net................................................ 132,679 180,167
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NET INCOME...................................................................... $132,679 $180,167
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ALLOCATION OF NET INCOME:
General Partner.............................................................. $33,170 $45,042
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Limited Partners............................................................. $99,509 $135,125
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NET INCOME PER LIMITED PARTNERSHIP UNIT......................................... $0.62 $0.84
============ ============
WEIGHTED AVERAGE NUMBER OF LIMITED PARTNERSHIP
UNITS OUTSTANDING............................................................ 160,000 160,000
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See notes to condensed financial statements.
2
CABLE TV FUND 14-A, LTD.
(A Limited Partnership)
CONDENSED STATEMENT OF CASH FLOWS
(Unaudited)
For the Three Months Ended
March 31,
2001 2000
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CASH FLOWS FROM OPERATING ACTIVITIES:
Net income................................................................... $132,679 $180,167
Adjustments to reconcile net income to net cash
provided by (used in) operating activities:
Increase in interest receivable.......................................... (28,118) (70,269)
Decrease in accrued liabilities.......................................... (25,339) (581,342)
Decrease in advances from affiliates..................................... (32,784) (6,205,737)
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Net cash provided by (used in) operating activities.................... 46,438 (6,677,181)
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CASH FLOWS FROM FINANCING ACTIVITIES:
Distribution to limited partners............................................. (5,625,000)
Distribution to Jones Intercable............................................. (3,226,517)
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Net cash used in financing activities.................................. (5,625,000) (3,226,517)
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Decrease in cash................................................................ (5,578,562) (9,903,698)
Cash, beginning of period....................................................... 9,904,418 19,674,576
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Cash, end of period............................................................. $4,325,856 $9,770,878
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SUPPLEMENTAL CASH FLOW DISCLOSURE:
Interest paid................................................................ $ $11,371
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NON-CASH TRANSACTION:
Accrued distribution to General Partner...................................... $1,875,000 $
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See notes to condensed financial statements.
3
CABLE TV FUND 14-A, LTD.
(A Limited Partnership)
NOTES TO CONDENSED FINANCIAL STATEMENTS
(Unaudited)
(1) The condensed balance sheet as of December 31, 2000 has been condensed from
the audited balance sheet as of that date. The condensed balance sheet as of
March 31, 2001 and the condensed statements of operations and of cash flows for
the three months ended March 31, 2001 and 2000 have been prepared by Cable TV
Fund 14-A, Ltd. (the "Partnership") and have not been audited by the
Partnership's independent auditors. In the opinion of management, all
adjustments necessary to present fairly the financial position, results of
operations and cash flows as of March 31, 2001 and for all periods presented
have been made.
Certain information and note disclosures normally included in the
Partnership's annual financial statements prepared in accordance with generally
accepted accounting principles have been condensed or omitted. These condensed
financial statements should be read in conjunction with the financial statements
and notes thereto included in the Partnership's December 31, 2000 Annual Report
on Form 10-K filed with the Securities and Exchange Commission. The results of
operations for the period ended March 31, 2001 are not necessarily indicative of
operating results for the full year.
The Partnership has sold all of its cable television systems. The
Partnership has continued in existence because of pending litigation in which
the Partnership is a party. It cannot be predicted when the Partnership will be
dissolved.
(2) The Partnership reimburses its general partner for certain administrative
expenses. These expenses represent the salaries and related benefits paid for
corporate personnel. Such personnel provide administrative, accounting, tax,
legal and investor relations services to the Partnership. Such services, and
their related costs, are necessary to the administration of the Partnership
until the Partnership is dissolved. Such costs were included in other, net in
the accompanying condensed statement of operations. Reimbursements made to the
general partner by the Partnership for administrative expenses for the three
months ended March 31, 2001 and 2000 were $27,179 and $36,575, respectively.
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CABLE TV FUND 14-A, LTD.
(A Limited Partnership)
MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
RESULTS OF OPERATIONS
FINANCIAL CONDITION
The only assets of the Partnership at March 31, 2001 were its cash on
hand and interest receivable. A portion of the Partnership's cash balance is
being held in reserve to pay the Partnership's administrative expenses until the
Partnership is dissolved. The Partnership has continued in existence because of
pending litigation in which the Partnership is a party. It cannot be predicted
when the Partnership will be dissolved.
RESULTS OF OPERATIONS
The Partnership has sold all of its cable television systems. Interest
income of $170,969 was earned during the first quarter of 2001 on the cash
balance on hand. Other expense of $38,290 incurred in the first quarter of 2001
related to various costs associated with the administration of the Partnership.
PART II - OTHER INFORMATION
Item 6. Exhibits and Reports on Form 8-K.
a) Exhibits
None.
b) Reports on Form 8-K
None.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
CABLE TV FUND 14-A, LTD.
BY: COMCAST CABLE COMMUNICATIONS, INC.
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General Partner
By: /S/ Lawrence J. Salva
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Lawrence J. Salva
Senior Vice President
(Principal Accounting Officer)
Dated: May 15, 2001
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