| TOWN OF READING, MASSACHUSETTS | ||||||||||||
| MUNICIPAL LIGHT DEPARTMENT | ||||||||||||
| BUSINESS-TYPE PROPRIETARY FUND | ||||||||||||
| STATEMENT OF REVENUES, EXPENSES AND CHANGES IN FUND NET ASSETS | ||||||||||||
| 6/30/07 | ||||||||||||
| ACTUAL | BUDGET | % | ||||||||||
| YEAR TO DATE | YEAR TO DATE | VARIANCE* | CHANGE | |||||||||
| OPERATING REVENUES: (SCH F P.11B) | ||||||||||||
| BASE REVENUE | 37,570,009.60 | 37,768,072.00 | (198,062.40) | -0.52% | ||||||||
| FUEL REVENUE | 28,722,981.10 | 42,587,027.00 | (13,864,045.90) | -32.55% | ||||||||
| PURCHASED POWER CAPACITY REFUND | (854,879.56) | (1,000,000.00) | 145,120.44 | -14.51% | ||||||||
| FORFEITED DISCOUNTS | 786,531.78 | 830,898.00 | (44,366.22) | -5.34% | ||||||||
| TOTAL OPERATING REVENUES | 66,224,642.92 | 80,185,997.00 | (13,961,354.08) | -17.41% | ||||||||
| OPERATING EXPENSES: (SCH G P.12A) | ||||||||||||
| PURCHASED POWER BASE | 19,812,376.23 | 20,430,206.00 | (617,829.77) | -3.02% | ||||||||
| PURCHASED POWER FUEL | 29,912,851.45 | 42,587,028.00 | (12,674,176.55) | -29.76% | ||||||||
| OPERATING | 7,615,136.25 | 8,277,471.00 | (662,334.75) | -8.00% | ||||||||
| MAINTENANCE | 2,463,150.81 | 3,031,963.00 | (568,812.19) | -18.76% | ||||||||
| DEPRECIATION | 2,907,259.43 | 2,892,000.00 | 15,259.43 | 0.53% | ||||||||
| VOLUNTARY PAYMENTS TO TOWNS | 1,108,159.00 | 1,092,300.00 | 15,859.00 | 1.45% | ||||||||
| TOTAL OPERATING EXPENSES | 63,818,933.17 | 78,310,968.00 | (14,492,034.83) | -18.51% | ||||||||
| OPERATING INCOME | 2,405,709.75 | 1,875,029.00 | 530,680.75 | 28.30% | ||||||||
| NONOPERATING REVENUES (EXPENSES) | ||||||||||||
| CONTRIBUTIONS IN AID OF CONST | 885,626.25 | 1,170,000.00 | (284,373.75) | -24.31% | ||||||||
| RETURN ON INVESTMENT TO READING | (2,066,772.14) | (2,036,400.00) | (30,372.14) | 1.49% | ||||||||
| INTEREST INCOME | 700,829.50 | 400,000.00 | 300,829.50 | 75.21% | ||||||||
| INTEREST EXPENSE | (101,162.17) | (105,960.00) | 4,797.83 | -4.53% | ||||||||
| OTHER (MDSE AND AMORT) | 86,793.50 | 86,460.00 | 333.50 | 0.39% | ||||||||
| TOTAL NONOPERATING REV (EXP) | (494,685.06) | (485,900.00) | (8,785.06) | 1.81% | ||||||||
| CHANGE IN NET ASSETS | 1,911,024.69 | 1,389,129.00 | 521,895.69 | 37.57% | ||||||||
| NET ASSETS AT BEGINNING OF YEAR | 84,078,739.12 | 84,078,739.12 | 0.00 | 0.00% | ||||||||
| NET ASSETS AT END OF JUNE | 85,989,763.81 | 85,467,868.12 | 521,895.69 | 0.61% | ||||||||
| * | ( ) = ACTUAL UNDER BUDGET | |||||||||||