| TOWN OF READING, MASSACHUSETTS | ||||||||||||
| MUNICIPAL LIGHT DEPARTMENT | ||||||||||||
| BUSINESS-TYPE PROPRIETARY FUND | ||||||||||||
| STATEMENT OF REVENUES, EXPENSES AND CHANGES IN FUND NET ASSETS | ||||||||||||
| 7/31/07 | ||||||||||||
| ACTUAL | BUDGET | % | ||||||||||
| YEAR TO DATE | YEAR TO DATE | VARIANCE* | CHANGE | |||||||||
| OPERATING REVENUES: (SCH F P.11B) | ||||||||||||
| BASE REVENUE | 3,503,478.85 | 4,032,989.00 | (529,510.15) | -13.13% | ||||||||
| FUEL REVENUE | 2,599,047.32 | 3,324,402.00 | (725,354.68) | -21.82% | ||||||||
| PURCHASED POWER CAPACITY REFUND | (6,644.76) | 0.00 | (6,644.76) | 100.00% | ||||||||
| FORFEITED DISCOUNTS | 71,051.55 | 88,726.00 | (17,674.45) | -19.92% | ||||||||
| TOTAL OPERATING REVENUES | 6,166,932.96 | 7,446,117.00 | (1,279,184.04) | -17.18% | ||||||||
| OPERATING EXPENSES: (SCH G P.12A) | ||||||||||||
| PURCHASED POWER BASE | 1,944,507.30 | 1,814,654.00 | 129,853.30 | 7.16% | ||||||||
| PURCHASED POWER FUEL | 3,217,346.44 | 3,324,402.00 | (107,055.56) | -3.22% | ||||||||
| OPERATING | 667,234.53 | 642,136.00 | 25,098.53 | 3.91% | ||||||||
| MAINTENANCE | 171,353.34 | 211,154.00 | (39,800.66) | -18.85% | ||||||||
| DEPRECIATION | 250,525.00 | 253,220.00 | (2,695.00) | -1.06% | ||||||||
| VOLUNTARY PAYMENTS TO TOWNS | 96,400.00 | 96,400.00 | 0.00 | 0.00% | ||||||||
| TOTAL OPERATING EXPENSES | 6,347,366.61 | 6,341,966.00 | 5,400.61 | 0.09% | ||||||||
| OPERATING INCOME | (180,433.65) | 1,104,151.00 | (1,284,584.65) | -116.34% | ||||||||
| NONOPERATING REVENUES (EXPENSES) | ||||||||||||
| CONTRIBUTIONS IN AID OF CONST | 0.00 | 100,000.00 | (100,000.00) | -100.00% | ||||||||
| RETURN ON INVESTMENT TO READING | (86,388.83) | (172,200.00) | 85,811.17 | -49.83% | ||||||||
| INTEREST INCOME | 39,841.81 | 33,333.00 | 6,508.81 | 19.53% | ||||||||
| INTEREST EXPENSE | (6,792.11) | (6,740.00) | (52.11) | 0.77% | ||||||||
| OTHER (MDSE AND AMORT) | 39,238.70 | 8,038.00 | 31,200.70 | 388.16% | ||||||||
| TOTAL NONOPERATING REV (EXP) | (14,100.43) | (37,569.00) | 23,468.57 | -62.47% | ||||||||
| CHANGE IN NET ASSETS | (194,534.08) | 1,066,582.00 | (1,261,116.08) | -118.24% | ||||||||
| NET ASSETS AT BEGINNING OF YEAR | 85,989,763.81 | 85,989,763.81 | 0.00 | 0.00% | ||||||||
| NET ASSETS AT END OF JULY | 85,795,229.73 | 87,056,345.81 | (1,261,116.08) | -1.45% | ||||||||
| * | ( ) = ACTUAL UNDER BUDGET | |||||||||||