Mr. Bolen began his telecommunications career in 1982 as an Administrative Assistant with the LEC Settlements department at Martin and Associates, Inc. and has completed 30+ years of telecommunications industry employment. Mr. Bolen earned a Bachelor of Arts degree from Dakota Wesleyan University, with major courses of study completed in both Accounting and English. Mr. Bolen has also completed the Certified Public Accountant licensing requirements and acquired his Certified Public Accountant license from the South Dakota Board of Accountancy on November 13, 2002.
As a member of FARR Technologies, LLC and with previous consultants, Mr. Bolen has performed various NECA pooling functions required for NECA member companies, completed various FCC and PUC filings, and performed other financial services for telecommunications companies.
Mr. Bolen has submitted Cost Based settlement studies, along with the NECA required three year settlement projections and Universal Service Fund data filings, annually for NECA member clients. Along with the Cost Based settlement study, he has completed Central Office Equipment Continuing Property Records in support of the clients current year COE inventory costs and FCC cost separation categorization detail. Mr. Bolen has provided FCC Part # 32 accounting procedure interpretations and financial statement assistance to his clients as well.
Mr. Bolen has also assisted telephone companies with the preparation of Cost Based settlement feasibility studies in order to compare the client’s existing average schedule settlements received with the projected Cost Based settlements available, should the client determine it appropriate to convert to a Cost Based settlements method. Most recently, Mr. Bolen has assisted several companies with successful conversions to an Interstate Cost Based method of settlements.
Mr. Bolen has completed various filings to state Public Utilities Commissions (PUCs) and the Federal Communications Commission (FCC) on behalf of several client companies. Annual Universal Service Fund eligibility filings are submitted to state PUC’s and Mr. Bolen has supplied the required information in several states. Mr. Bolen has also completed various client data reporting forms, required by the FCC, such as the Form 499 and Form 502 filings.
Mr. Bolen has performed other financial services to assist telecommunication companies, such as annual budget development, cash management studies and settlement impact studies regarding plant upgrades and network reconfigurations. Mr. Bolen has completed pro forma financial statements for companies considering a CLEC business start-up. Mr. Bolen has also completed pro forma financial statements for Federal Stimulus Funding applications as well as for CATV and telephone property acquisitions. These Federal Stimulus Funding applications, CLEC and property acquisition studies typically include detailed financial statements with a balance sheet, income statement, cash flow statement, and accompanying notes. Mr. Bolen’s acquisition pro forma studies assisted the client in selecting an acquisition financing source as well as in determining the appropriate CATV or telephone property purchase price. Mr. Bolen also assisted legal counsel in obtaining the appropriate FCC and PUC waivers necessary for the successful transfer of the property acquired.
Mr. Bolen has also completed numerous filings to assist Equal Access companies including FCC 214 applications, initial Centralized Equal Access tariffs, Pro Forma financial statements.
Mr. Bolen has represented telephone clientele at various NECA, NTCA, USTA and other state telephone organization events involving prospective industry changes and the implementation of these FCC or state industry changes. Mr. Bolen has also made various presentations to client board of directors and other industry groups concerning forthcoming Cost Based settlement issues and FCC accounting procedure modifications.