| TOWN OF READING, MASSACHUSETTS | ||||||||||||
| MUNICIPAL LIGHT DEPARTMENT | ||||||||||||
| BUSINESS-TYPE PROPRIETARY FUND | ||||||||||||
| STATEMENT OF REVENUES, EXPENSES AND CHANGES IN FUND NET ASSETS | ||||||||||||
| 11/30/07 | ||||||||||||
| ACTUAL | BUDGET | % | ||||||||||
| YEAR TO DATE | YEAR TO DATE | VARIANCE* | CHANGE | |||||||||
| OPERATING REVENUES: (SCH F P.11B) | ||||||||||||
| BASE REVENUE | 16,627,774.39 | 17,563,867.00 | (936,092.61) | -5.33% | ||||||||
| FUEL REVENUE | 14,702,771.39 | 16,581,999.00 | (1,879,227.61) | -11.33% | ||||||||
| PURCHASED POWER CAPACITY REFUND | 779,519.16 | 0.00 | 779,519.16 | 100.00% | ||||||||
| FORFEITED DISCOUNTS | 362,902.53 | 386,405.00 | (23,502.47) | -6.08% | ||||||||
| TOTAL OPERATING REVENUES | 32,472,967.47 | 34,532,271.00 | (2,059,303.53) | -5.96% | ||||||||
| OPERATING EXPENSES: (SCH G P.12A) | ||||||||||||
| PURCHASED POWER BASE | 9,313,289.73 | 9,049,655.00 | 263,634.73 | 2.91% | ||||||||
| PURCHASED POWER FUEL | 14,446,896.88 | 16,581,999.00 | (2,135,102.12) | -12.88% | ||||||||
| OPERATING | 3,134,793.98 | 3,413,874.00 | (279,080.02) | -8.17% | ||||||||
| MAINTENANCE | 970,586.48 | 1,120,132.00 | (149,545.52) | -13.35% | ||||||||
| DEPRECIATION | 1,252,625.00 | 1,266,100.00 | (13,475.00) | -1.06% | ||||||||
| VOLUNTARY PAYMENTS TO TOWNS | 482,000.00 | 482,000.00 | 0.00 | 0.00% | ||||||||
| TOTAL OPERATING EXPENSES | 29,600,192.07 | 31,913,760.00 | (2,313,567.93) | -7.25% | ||||||||
| OPERATING INCOME | 2,872,775.40 | 2,618,511.00 | 254,264.40 | 9.71% | ||||||||
| NONOPERATING REVENUES (EXPENSES) | ||||||||||||
| CONTRIBUTIONS IN AID OF CONST | 64,605.28 | 200,000.00 | (135,394.72) | -67.70% | ||||||||
| RETURN ON INVESTMENT TO READING | (863,888.34) | (861,000.00) | (2,888.34) | 0.34% | ||||||||
| INTEREST INCOME | 288,690.45 | 166,665.00 | 122,025.45 | 73.22% | ||||||||
| INTEREST EXPENSE | (34,707.02) | (33,700.00) | (1,007.02) | 2.99% | ||||||||
| OTHER (MDSE AND AMORT) | 219,084.03 | 40,190.00 | 178,894.03 | 445.12% | ||||||||
| TOTAL NONOPERATING REV (EXP) | (326,215.60) | (487,845.00) | 161,629.40 | -33.13% | ||||||||
| CHANGE IN NET ASSETS | 2,546,559.80 | 2,130,666.00 | 415,893.80 | 19.52% | ||||||||
| NET ASSETS AT BEGINNING OF YEAR | 85,989,763.81 | 85,989,763.81 | 0.00 | 0.00% | ||||||||
| NET ASSETS AT END OF NOVEMBER | 88,536,323.61 | 88,120,429.81 | 415,893.80 | 0.47% | ||||||||
| * | ( ) = ACTUAL UNDER BUDGET | |||||||||||