| TOWN OF READING, MASSACHUSETTS | ||||||||||||
| MUNICIPAL LIGHT DEPARTMENT | ||||||||||||
| BUSINESS-TYPE PROPRIETARY FUND | ||||||||||||
| STATEMENT OF REVENUES, EXPENSES AND CHANGES IN FUND NET ASSETS | ||||||||||||
| 5/31/07 | ||||||||||||
| ACTUAL | BUDGET | % | ||||||||||
| YEAR TO DATE | YEAR TO DATE | VARIANCE* | CHANGE | |||||||||
| OPERATING REVENUES: (SCH F P.11B) | ||||||||||||
| BASE REVENUE | 34,457,814.37 | 34,833,911.00 | (376,096.63) | -1.08% | ||||||||
| FUEL REVENUE | 27,126,603.66 | 39,344,322.00 | (12,217,718.34) | -31.05% | ||||||||
| PURCHASED POWER CAPACITY REFUND | (1,309,767.58) | (1,000,000.00) | (309,767.58) | 100.00% | ||||||||
| FORFEITED DISCOUNTS | 727,140.47 | 766,346.00 | (39,205.53) | -5.12% | ||||||||
| TOTAL OPERATING REVENUES | 61,001,790.92 | 73,944,579.00 | (12,942,788.08) | -17.50% | ||||||||
| OPERATING EXPENSES: (SCH G P.12A) | ||||||||||||
| PURCHASED POWER BASE | 17,922,860.95 | 18,582,252.00 | (659,391.05) | -3.55% | ||||||||
| PURCHASED POWER FUEL | 27,421,839.38 | 39,344,322.00 | (11,922,482.62) | -30.30% | ||||||||
| OPERATING | 6,768,864.27 | 7,581,958.00 | (813,093.73) | -10.72% | ||||||||
| MAINTENANCE | 2,152,094.49 | 2,687,660.00 | (535,565.51) | -19.93% | ||||||||
| DEPRECIATION | 2,664,987.82 | 2,651,000.00 | 13,987.82 | 0.53% | ||||||||
| VOLUNTARY PAYMENTS TO TOWNS | 1,000,795.00 | 1,000,800.00 | (5.00) | 0.00% | ||||||||
| TOTAL OPERATING EXPENSES | 57,931,441.91 | 71,847,992.00 | (13,916,550.09) | -19.37% | ||||||||
| OPERATING INCOME | 3,070,349.01 | 2,096,587.00 | 973,762.01 | 46.45% | ||||||||
| NONOPERATING REVENUES (EXPENSES) | ||||||||||||
| CONTRIBUTIONS IN AID OF CONST | 188,737.81 | 500,000.00 | (311,262.19) | -62.25% | ||||||||
| RETURN ON INVESTMENT TO READING | (1,843,408.40) | (1,839,200.00) | (4,208.40) | 0.23% | ||||||||
| INTEREST INCOME | 581,460.53 | 366,663.00 | 214,797.53 | 58.58% | ||||||||
| INTEREST EXPENSE | (104,002.86) | (97,130.00) | (6,872.86) | 7.08% | ||||||||
| OTHER (MDSE AND AMORT) | 81,434.51 | 79,255.00 | 2,179.51 | 2.75% | ||||||||
| TOTAL NONOPERATING REV (EXP) | (1,095,778.41) | (990,412.00) | (105,366.41) | 10.64% | ||||||||
| CHANGE IN NET ASSETS | 1,974,570.60 | 1,106,175.00 | 868,395.60 | 78.50% | ||||||||
| NET ASSETS AT BEGINNING OF YEAR | 84,078,739.12 | 84,078,739.12 | 0.00 | 0.00% | ||||||||
| NET ASSETS AT END OF MAY | 86,053,309.72 | 85,184,914.12 | 868,395.60 | 1.02% | ||||||||
| * | ( ) = ACTUAL UNDER BUDGET | |||||||||||