| TOWN OF READING, MASSACHUSETTS | ||||||||||||
| MUNICIPAL LIGHT DEPARTMENT | ||||||||||||
| BUSINESS-TYPE PROPRIETARY FUND | ||||||||||||
| STATEMENT OF REVENUES, EXPENSES AND CHANGES IN FUND NET ASSETS | ||||||||||||
| 8/31/07 | ||||||||||||
| ACTUAL | BUDGET | % | ||||||||||
| YEAR TO DATE | YEAR TO DATE | VARIANCE* | CHANGE | |||||||||
| OPERATING REVENUES: (SCH F P.11B) | ||||||||||||
| BASE REVENUE | 7,167,815.82 | 7,956,960.00 | (789,144.18) | -9.92% | ||||||||
| FUEL REVENUE | 5,467,585.56 | 6,822,497.00 | (1,354,911.44) | -19.86% | ||||||||
| PURCHASED POWER CAPACITY REFUND | (15,610.80) | 0.00 | (15,610.80) | 100.00% | ||||||||
| FORFEITED DISCOUNTS | 153,368.42 | 175,053.00 | (21,684.58) | -12.39% | ||||||||
| TOTAL OPERATING REVENUES | 12,773,159.00 | 14,954,510.00 | (2,181,351.00) | -14.59% | ||||||||
| OPERATING EXPENSES: (SCH G P.12A) | ||||||||||||
| PURCHASED POWER BASE | 3,784,958.74 | 3,602,188.00 | 182,770.74 | 5.07% | ||||||||
| PURCHASED POWER FUEL | 6,448,602.27 | 6,822,497.00 | (373,894.73) | -5.48% | ||||||||
| OPERATING | 1,174,335.62 | 1,261,405.00 | (87,069.38) | -6.90% | ||||||||
| MAINTENANCE | 365,452.63 | 421,603.00 | (56,150.37) | -13.32% | ||||||||
| DEPRECIATION | 501,050.00 | 506,440.00 | (5,390.00) | -1.06% | ||||||||
| VOLUNTARY PAYMENTS TO TOWNS | 192,800.00 | 192,800.00 | 0.00 | 0.00% | ||||||||
| TOTAL OPERATING EXPENSES | 12,467,199.26 | 12,806,933.00 | (339,733.74) | -2.65% | ||||||||
| OPERATING INCOME | 305,959.74 | 2,147,577.00 | (1,841,617.26) | -85.75% | ||||||||
| NONOPERATING REVENUES (EXPENSES) | ||||||||||||
| CONTRIBUTIONS IN AID OF CONST | 9,496.20 | 100,000.00 | (90,503.80) | -90.50% | ||||||||
| RETURN ON INVESTMENT TO READING | (345,555.33) | (344,400.00) | (1,155.33) | 0.34% | ||||||||
| INTEREST INCOME | 92,988.00 | 66,666.00 | 26,322.00 | 39.48% | ||||||||
| INTEREST EXPENSE | (13,692.36) | (13,480.00) | (212.36) | 1.58% | ||||||||
| OTHER (MDSE AND AMORT) | 125,157.52 | 16,076.00 | 109,081.52 | 678.54% | ||||||||
| TOTAL NONOPERATING REV (EXP) | (131,605.97) | (175,138.00) | 43,532.03 | -24.86% | ||||||||
| CHANGE IN NET ASSETS | 174,353.77 | 1,972,439.00 | (1,798,085.23) | -91.16% | ||||||||
| NET ASSETS AT BEGINNING OF YEAR | 85,989,763.81 | 85,989,763.81 | 0.00 | 0.00% | ||||||||
| NET ASSETS AT END OF AUGUST | 86,164,117.58 | 87,962,202.81 | (1,798,085.23) | -2.04% | ||||||||
| * | ( ) = ACTUAL UNDER BUDGET | |||||||||||