General Order 77-M: Required Financial Reporting

Background

Telephone Carriers (Citizens, Frontiers, SureWest, and Verizon) are seeking exemption from filing certain reports pursuant to General Order (GO) 77-M because they are no longer under rate-of-return regulation, where the CPUC sets retail rates. GO 77-M currently requires carriers to report on: executive compensation, payments of dues, donations, subscriptions, contributions and legal fees.

Policy Position

DRA supports the continuation of providing reports on financial information. This information aids the CPUC in determining whether salaries and compensation are excessive and burdening ratepayers with costs unrelated to the services for which they are charged.  Eliminating GO 77-M would remove one of the last oversight mechanisms the CPUC has for protecting customers from excessive telephone company expenses. 

Current Proceeding Status

DRA is awaiting a proposed decision from the CPUC.

See the proceeding docket.