| TOWN OF READING, MASSACHUSETTS | ||||||||||||
| MUNICIPAL LIGHT DEPARTMENT | ||||||||||||
| BUSINESS-TYPE PROPRIETARY FUND | ||||||||||||
| STATEMENT OF REVENUES, EXPENSES AND CHANGES IN FUND NET ASSETS | ||||||||||||
| 1/31/08 | ||||||||||||
| ACTUAL | BUDGET | % | ||||||||||
| YEAR TO DATE | YEAR TO DATE | VARIANCE* | CHANGE | |||||||||
| OPERATING REVENUES: (SCH F P.11B) | ||||||||||||
| BASE REVENUE | 22,971,705.45 | 24,140,535.00 | (1,168,829.55) | -4.84% | ||||||||
| FUEL REVENUE | 22,445,400.31 | 25,961,749.00 | (3,516,348.69) | -13.54% | ||||||||
| PURCHASED POWER CAPACITY REFUND | 1,259,978.97 | 0.00 | 1,259,978.97 | 100.00% | ||||||||
| FORFEITED DISCOUNTS | 534,501.79 | 531,092.00 | 3,409.79 | 0.64% | ||||||||
| TOTAL OPERATING REVENUES | 47,211,586.52 | 50,633,376.00 | (3,421,789.48) | -6.76% | ||||||||
| OPERATING EXPENSES: (SCH G P.12A) | ||||||||||||
| PURCHASED POWER BASE | 12,846,716.49 | 12,550,470.00 | 296,246.49 | 2.36% | ||||||||
| PURCHASED POWER FUEL | 24,050,397.46 | 25,961,749.00 | (1,911,351.54) | -7.36% | ||||||||
| OPERATING | 4,615,404.54 | 5,092,036.00 | (476,631.46) | -9.36% | ||||||||
| MAINTENANCE | 1,410,472.49 | 1,643,972.00 | (233,499.51) | -14.20% | ||||||||
| DEPRECIATION | 1,753,675.00 | 1,772,540.00 | (18,865.00) | -1.06% | ||||||||
| VOLUNTARY PAYMENTS TO TOWNS | 661,261.00 | 674,800.00 | (13,539.00) | -2.01% | ||||||||
| TOTAL OPERATING EXPENSES | 45,337,926.98 | 47,695,567.00 | (2,357,640.02) | -4.94% | ||||||||
| OPERATING INCOME | 1,873,659.54 | 2,937,809.00 | (1,064,149.46) | -36.22% | ||||||||
| NONOPERATING REVENUES (EXPENSES) | ||||||||||||
| CONTRIBUTIONS IN AID OF CONST | 108,019.09 | 300,000.00 | (191,980.91) | -63.99% | ||||||||
| RETURN ON INVESTMENT TO READING | (1,209,443.67) | (1,205,400.00) | (4,043.67) | 0.34% | ||||||||
| INTEREST INCOME | 383,568.12 | 233,331.00 | 150,237.12 | 64.39% | ||||||||
| INTEREST EXPENSE | (48,185.72) | (47,180.00) | (1,005.72) | 2.13% | ||||||||
| OTHER (MDSE AND AMORT) | 255,728.54 | 56,266.00 | 199,462.54 | 354.50% | ||||||||
| TOTAL NONOPERATING REV (EXP) | (510,313.64) | (662,983.00) | 152,669.36 | -23.03% | ||||||||
| CHANGE IN NET ASSETS | 1,363,345.90 | 2,274,826.00 | (911,480.10) | -40.07% | ||||||||
| NET ASSETS AT BEGINNING OF YEAR | 85,989,763.81 | 85,989,763.81 | 0.00 | 0.00% | ||||||||
| NET ASSETS AT END OF JANUARY | 87,353,109.71 | 88,264,589.81 | (911,480.10) | -1.03% | ||||||||
| * | ( ) = ACTUAL UNDER BUDGET | |||||||||||