TOWN OF READING
MUNICIPAL LIGHT DEPARTMENT
BUSINESS-TYPE PROPRIETARY FUND
STATEMENT OF NET ASSETS
JUNE 30, 2006
ASSETS
Current:
	Unrestricted cash and short-term investments				$	15,670,859
	Receivables, net of allowance for uncollectibles					5,611,597
	Prepaid expenses					95,378
	Inventory					1,251,361
		Total current assets				22,629,195
Noncurrent:
	Restricted cash and short-term investments					47,148,229
	Restricted investments					4,400,000
	Investment in associated companies					163,532
	Non-depreciable capital assets					1,265,842
	Depreciable capital assets, net of accumulated depreciation					54,104,123
	Other					26,534
		Total noncurrent assets				107,108,260
TOTAL ASSETS						129,737,455
LIABILITIES
Current:
	Accounts payable					6,162,180
	Customer deposits					504,493
	Customer advances for construction					488,305
	Accrued liabilities					306,648
	Current portion of long-term liabilities:
		Bonds payable				855,000
		Accrued employee compensated absences				68,887
		Calpine contract termination				25,605,115
		Total current liabilities				33,990,628
Noncurrent:
	Bonds payable, net of current portion					1,650,000
	Accrued employee compensated absences					2,198,343
	Calpine contract termination					7,819,745
		Total noncurrent liabilities				11,668,088
TOTAL LIABILITIES						45,658,716
NET ASSETS
Invested in capital assets, net of related debt						52,864,965
Restricted for depreciation fund						3,181,632
Unrestricted						28,032,142
TOTAL NET ASSETS					$	84,078,739
See notes to financial statements
				Proof		-