| TOWN OF READING, MASSACHUSETTS | ||||||||||||
| MUNICIPAL LIGHT DEPARTMENT | ||||||||||||
| BUSINESS-TYPE PROPRIETARY FUND | ||||||||||||
| STATEMENT OF REVENUES, EXPENSES AND CHANGES IN FUND NET ASSETS | ||||||||||||
| 3/31/08 | ||||||||||||
| ACTUAL | BUDGET | % | ||||||||||
| YEAR TO DATE | YEAR TO DATE | VARIANCE* | CHANGE | |||||||||
| OPERATING REVENUES: (SCH F P.11B) | ||||||||||||
| BASE REVENUE | 28,999,098.28 | 30,491,035.00 | (1,491,936.72) | -4.89% | ||||||||
| FUEL REVENUE | 30,790,173.31 | 35,115,130.00 | (4,324,956.69) | -12.32% | ||||||||
| PURCHASED POWER CAPACITY REFUND | 1,930,222.28 | 0.00 | 1,930,222.28 | 100.00% | ||||||||
| FORFEITED DISCOUNTS | 669,866.03 | 670,803.00 | (936.97) | -0.14% | ||||||||
| TOTAL OPERATING REVENUES | 62,389,359.90 | 66,276,968.00 | (3,887,608.10) | -5.87% | ||||||||
| OPERATING EXPENSES: (SCH G P.12A) | ||||||||||||
| PURCHASED POWER BASE | 16,555,363.89 | 16,208,022.00 | 347,341.89 | 2.14% | ||||||||
| PURCHASED POWER FUEL | 32,862,236.03 | 35,115,130.00 | (2,252,893.97) | -6.42% | ||||||||
| OPERATING | 5,974,966.36 | 6,470,215.00 | (495,248.64) | -7.65% | ||||||||
| MAINTENANCE | 1,811,006.68 | 2,166,485.00 | (355,478.32) | -16.41% | ||||||||
| DEPRECIATION | 2,254,725.00 | 2,278,980.00 | (24,255.00) | -1.06% | ||||||||
| VOLUNTARY PAYMENTS TO TOWNS | 854,061.00 | 867,600.00 | (13,539.00) | -1.56% | ||||||||
| TOTAL OPERATING EXPENSES | 60,312,358.96 | 63,106,432.00 | (2,794,073.04) | -4.43% | ||||||||
| OPERATING INCOME | 2,077,000.94 | 3,170,536.00 | (1,093,535.06) | -34.49% | ||||||||
| NONOPERATING REVENUES (EXPENSES) | ||||||||||||
| CONTRIBUTIONS IN AID OF CONST | 154,286.91 | 300,000.00 | (145,713.09) | -48.57% | ||||||||
| RETURN ON INVESTMENT TO READING | (1,554,999.01) | (1,549,800.00) | (5,199.01) | 0.34% | ||||||||
| INTEREST INCOME | 448,206.38 | 299,997.00 | 148,209.38 | 49.40% | ||||||||
| INTEREST EXPENSE | (61,747.07) | (60,660.00) | (1,087.07) | 1.79% | ||||||||
| OTHER (MDSE AND AMORT) | 272,712.61 | 72,342.00 | 200,370.61 | 276.98% | ||||||||
| TOTAL NONOPERATING REV (EXP) | (741,540.18) | (938,121.00) | 196,580.82 | -20.95% | ||||||||
| CHANGE IN NET ASSETS | 1,335,460.76 | 2,232,415.00 | (896,954.24) | -40.18% | ||||||||
| NET ASSETS AT BEGINNING OF YEAR | 85,989,763.81 | 85,989,763.81 | 0.00 | 0.00% | ||||||||
| NET ASSETS AT END OF MARCH | 87,325,224.57 | 88,222,178.81 | (896,954.24) | -1.02% | ||||||||
| * | ( ) = ACTUAL UNDER BUDGET | |||||||||||