B.
|
Name
of issuer of the securities held pursuant of the plan and the address
of
its principal executive office:
|
Page
|
||
REPORT
OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
|
1
|
|
FINANCIAL
STATEMENTS:
|
||
Statements
of Net Assets Available for Benefits as of December 31, 2006 and
2005
|
2
|
|
Statement
of Changes in Net Assets Available for Benefits for the Year Ended
December 31,
2006
|
3
|
|
Notes
to Financial Statements as of December 31, 2006 and 2005, and for
the Year
Ended
December 31,
2006
|
4-10
|
|
SUPPLEMENTAL
SCHEDULES:
|
||
Form 5500,
Schedule H, Part IV, Line 4i—Schedule of Assets (Held at
End of Year)
as of December 31, 2006
|
11
|
|
Form 5500,
Schedule H, Part IV, Question 4a—Delinquent Participant
Contributions
for the Year Ended December 31, 2006
|
12
|
|
NOTE:
|
All
other schedules required by Section 2520.103-10 of the Department of
Labor’s Rules and Regulations for Reporting and Disclosure under the
Employee Retirement Income Security Act of 1974 have been omitted
because they are not applicable.
|
SOUTH
JERSEY INDUSTRIES, INC. 401(K) PLAN
|
|||||||
STATEMENTS
OF NET ASSETS AVAILABLE FOR BENEFITS
|
|||||||
DECEMBER
31, 2006 AND 2005
|
|
|
|||||
ASSETS
|
2006
|
2005
|
|||||
INVESTMENTS
- AT FAIR VALUE:
|
|||||||
Cash
|
$
|
64,290
|
$
|
45,960
|
|||
South
Jersey Industries, Inc. Common Stock
|
75,834,829
|
75,355,057
|
|||||
Mutual
Funds
|
15,549,153
|
11,403,929
|
|||||
Common/Collective
Trusts
|
3,993,006
|
2,684,757
|
|||||
Participant
Loan Funds
|
523,951
|
329,277
|
|||||
Pending
Settlement Fund
|
-
|
58,702
|
|||||
Total
Investments
|
95,965,229
|
89,877,682
|
|||||
RECEIVABLES:
|
|||||||
Participants
Contributions
|
254,957
|
253,766
|
|||||
Employer
Contributions
|
70,926
|
75,929
|
|||||
Accrued
Investment Income
|
9,212
|
-
|
|||||
Total
Receivables
|
335,095
|
329,695
|
|||||
NET
ASSETS AVAILABLE FOR BENEFITS AT FAIR VALUE
|
96,300,324
|
90,207,377
|
|||||
Adjustments
from fair value to contract value for fully benefit-
|
|||||||
responsive
investment contacts
|
77,337
|
49,211
|
|||||
NET
ASSETS AVAILABLE FOR BENEFITS
|
$
|
96,377,661
|
$
|
90,256,588
|
|||
See
notes to financial statements.
|
|||||||
SOUTH
JERSEY INDUSTRIES, INC. 401(K) PLAN
|
||||
STATEMENT
OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
|
||||
YEAR
ENDED DECEMBER 31, 2006
|
|
|||
|
2006
|
|||
ADDITIONS:
|
||||
Investment
Income:
|
||||
Dividends
and
Interest
|
$
|
3,522,155
|
||
Net
Appreciation in Fair Value of Investments
|
10,120,683
|
|||
Net
Investment Income
|
13,642,838
|
|||
Contributions:
|
||||
Participant
Contributions
|
3,427,362
|
|||
Employer
Contributions
|
1,107,040
|
|||
Total
Contributions
|
4,534,402
|
|||
DEDUCTIONS:
|
||||
Benefits
Paid
to Participants
|
12,054,447
|
|||
Administration
Fees
|
1,720
|
|||
Total
Deductions
|
12,056,167
|
|||
INCREASE
IN NET ASSETS
|
6,121,073
|
|||
NET
ASSETS AVAILABLE FOR BENEFITS - Beginning of year
|
90,256,588
|
|||
|
||||
NET
ASSETS AVAILABLE FOR BENEFITS - End of year
|
$
|
96,377,661
|
||
See
notes to financial statements.
|
||||
1.
|
DESCRIPTION
OF THE PLAN
|
Name
|
Objective
|
|
South
Jersey Industries, Inc. Common Stock
|
Growth
& Income
|
|
Merrill
Lynch Retirement Preservation Trust
|
Capital
Preservation
|
|
Managers
Special Equity Fund (2)
|
Growth
|
|
JP
Morgan Large Cap Equity Growth Fund (2)
|
Growth
& Income
|
|
ING
International Value Fund
|
Growth
|
|
BlackRock
Bond Fund (1,2)
|
Income
|
|
BlackRock
Basic Value Fund (1)
|
Growth
& Income
|
|
BlackRock
S&P 500 Index Fund (1)
|
Growth
|
|
Lord
Abbett Mid Cap Value Fund (2)
|
Growth
|
(1)
|
Effective
September 29, 2006, Merrill Lynch Investment Managers (MLIM®) completed
its merger with BlackRock, Inc. As a result of the transaction, the
name
of this investment fund was renamed from Merrill Lynch to
BlackRock.
|
(2)
|
Effective
June 1, 2007, these investment options were replaced with another
investment option with similar objectives. The replacement funds
offered
are as follows:
|
Name
|
Objective
|
|
American
Growth Fund of America
|
Growth
|
|
Pioneer
Bond Fund
|
Income
|
|
Phoenix
Mid Cap Value Fund
|
Growth
|
|
Jennison
Small Company Fund
|
Growth
|
Name
|
Objective
|
|
AIM
Capital Development Fund
|
Growth
|
|
AIM
International Growth Fund
|
Growth
|
|
Alger
Small Cap Growth Fund
|
Growth
|
|
AllianceBern
Small/Mid Cap Value Fund
|
Growth
|
|
Allianz
CCM Capital Appreciation Fund
|
Growth
|
|
American
Growth Fund of America
|
Growth
|
|
BlackRock
Large Cap Value Fund
|
Growth
|
|
Columbia
Small Cap Value Fund
|
Growth
|
|
Columbia
Marsico International Opportunity Fund
|
Growth
|
|
Columbia
Mid Cap Value Fund
|
Growth
|
|
Eaton
Vance Large Cap Value Fund
|
Growth
& Income
|
|
Eaton
Vance Utilities Fund
|
Growth
& Income
|
|
Franklin
Small Cap Value Fund
|
Growth
|
|
Janus
Advisor Forty Fund
|
Growth
|
|
Janus
Advisor International Group Fund
|
Growth
|
|
Jennison
Small Company Fund
|
Growth
|
|
Jennison
Utility Fund
|
Growth
& Income
|
|
MFS
Utilities Fund
|
Growth
& Income
|
|
Munder
Mid Cap Core Growth Fund
|
Growth
|
|
Phoenix
Mid Cap Value Fund
|
Growth
|
|
Pioneer
Bond Fund
|
Income
|
|
Van
Kampen Growth & Income Fund
|
Growth
& Income
|
|
Van
Kampen Mid Cap Growth Fund
|
Growth
|
|
Van
Kampen Small Cap Growth Fund
|
Growth
|
|
Franklin
Total Return Fund
|
Income
|
|
ING
Intermediate Bond Fund
|
Income
|
2.
|
SUMMARY
OF SIGNIFICANT ACCOUNTING
POLICIES
|
3.
|
INVESTMENTS
|
December
31
|
|||||||
2006
|
|
|
2005
|
||||
South
Jersey Industries, Inc. common stock
|
$
|
75,834,829
|
$
|
75,355,057
|
|
2006
|
|||
South
Jersey Industries, Inc. common stock
|
$
|
9,324,271
|
||
Equity
Funds
|
804,202
|
|||
Bond
Funds
|
(7,790
|
)
|
||
Total
|
$
|
10,120,683
|
4.
|
PLAN
TERMINATION
|
5.
|
EXEMPT
PARTY-IN-INTEREST
TRANSACTIONS
|
6.
|
FEDERAL
INCOME TAX STATUS
|
7.
|
NONEXEMPT
PARTY-IN-INTEREST
TRANSACTIONS
|
Contribution
Date
|
Amount
|
Remittance
Date
|
|
May
2005
|
$277,549
|
June
22, 2005
|
|
October
2005
|
261,289
|
December
2, 2005
|
|
November
2005
|
263,608
|
December
22, 2005
|
|
December
2005
|
253,766
|
January
23, 2006
|
|
April
2006
|
275,395
|
May
22, 2006
|
8.
|
RECONCILIATION
OF FINANCIAL STATEMENTS TO FORM
5500
|
2006
|
||||
Net
assets available for benefits per the financial statements
|
$
|
96,377,661
|
||
Adjustment
from contract value to fair value for fully
|
||||
Benefit-responsive investment contracts
|
77,337
|
|||
Net
assets available for benefits per the Form 5500
|
$
|
96,300,324
|
||
Increase
in Net Assets per the financial statements
|
$
|
6,121,073
|
||
Adjustment
from contract value to fair value for fully
|
||||
Benefit-responsive investment contracts
|
77,337
|
|||
Increase
in Net Assets per the Form 5500
|
$
|
6,043,736
|
SOUTH
JERSEY INDUSTRIES, INC. 401(K) PLAN
|
||||||||||
FORM
5500, SCHEDULE H, PART IV, LINE 4i - SCHEDULE OF ASSTS (HELD AT
END OF
YEAR)
|
||||||||||
AS
OF DECEMBER 31, 2006
|
|
|
|
|
|
|
|
|
||
Identity
of Party Involved
|
Description
of Asset
|
Cost
|
Current
Value
|
|||||||
*
Merrill Lynch Bank & Trust Co., FSB
|
Cash
|
$
|
**
|
$
|
64,290
|
|||||
*
South Jersey Industries, Inc.
|
Common
Stock
|
**
|
75,834,829
|
|||||||
*
Merrill Lynch Bank & Trust Co., FSB
|
ML
Retirement Preservation Trust - Common/Collective Trusts
|
**
|
3,993,006
|
|||||||
The Managers
|
The
Managers Special Equity Fund - Mutual Fund
|
**
|
1,426,697
|
|||||||
Mercury TTL
|
Mercury
TTL Ret. BD Distributor - Mutual Fund
|
**
|
2
|
|||||||
One Group
|
One
Group LG CAP GR FD CL - Mutual Fund
|
**
|
757,658
|
|||||||
One Group
|
One
Group LG CAP GR A-GM - Mutual Fund
|
**
|
860,994
|
|||||||
ING
|
ING
International Value Fund - Mutual Fund
|
**
|
4,248,815
|
|||||||
*
BlackRock
|
BlackRock
Basic Value Fund A - Mutual Fund
|
**
|
1,797,720
|
|||||||
*
BlackRock
|
BlackRock
Bond Fund A - Mutual Fund
|
**
|
2,266,111
|
|||||||
*
BlackRock
|
BlackRock
S&P 500 Index Fund I - Mutual Fund
|
**
|
2,159,169
|
|||||||
Lord Abbett
|
Lord
Abbett Mid Cap Value Fund - Mutual Fund
|
**
|
2,031,987
|
|||||||
*
Plan Participants
|
Participant
Loan Fund (maturing 2007-2016 at interest rates of
5.00-9.25%)
|
|
**
|
|
523,951
|
|||||
|
||||||||||
$
|
**
|
$
|
95,965,229
|
|||||||
*
Indicates party-in-interest to the Plan
|
||||||||||
**
Cost information is not required for participant-directed investments
and
therefore is not included.
|
||||||||||
See Note 1 to the Financial Statements under the caption "Investments"
for
additional discussion.
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
SOUTH
JERSEY INDUSTRIES, INC. 401(K) PLAN
|
||||||
FORM
5500, SCHEDULE H, PART IV, QUESTION 4a—
|
||||||
DELINQUENT
PARTICIPANT CONTRIBUTIONS
|
||||||
FOR
THE YEAR ENDED DECEMBER 31, 2006
|
|
|
|
|
||
Question
4a "Did the employer fail to transmit to the plan any participant
contributions within the time period described
|
||||||
in
29 CFR 2510.3-102," was answered "yes."
|
||||||
Identity
of Party
|
Relationship
to Plan, Employer,
|
|||||
Involved
|
or
Other Party-in-Interest
|
Description
of Transactions
|
Amount
|
|||
South
Jersey Industries, Inc.
|
Employer/Plan
Sponsor
|
Participant
contributions for employees were not funded within
the
time period prescribed by D.O.L. Regulation 25103-102.
|
||||
The
December 2005 participant contribution was deposited on
|
$
|
253,766
|
||||
January
23, 2006.
|
||||||
The
April 2006 participant contribution was deposited on
|
$
|
275,395
|
||||
May
22, 2006.
|