| TOWN OF READING, MASSACHUSETTS | ||||||||||||
| MUNICIPAL LIGHT DEPARTMENT | ||||||||||||
| BUSINESS-TYPE PROPRIETARY FUND | ||||||||||||
| STATEMENT OF REVENUES, EXPENSES AND CHANGES IN FUND NET ASSETS | ||||||||||||
| 10/31/07 | ||||||||||||
| ACTUAL | BUDGET | % | ||||||||||
| YEAR TO DATE | YEAR TO DATE | VARIANCE* | CHANGE | |||||||||
| OPERATING REVENUES: (SCH F P.11B) | ||||||||||||
| BASE REVENUE | 13,703,151.29 | 14,596,369.00 | (893,217.71) | -6.12% | ||||||||
| FUEL REVENUE | 11,562,516.01 | 12,285,152.00 | (722,635.99) | -5.88% | ||||||||
| PURCHASED POWER CAPACITY REFUND | 307,013.13 | 0.00 | 307,013.13 | 100.00% | ||||||||
| FORFEITED DISCOUNTS | 302,490.46 | 321,120.00 | (18,629.54) | -5.80% | ||||||||
| TOTAL OPERATING REVENUES | 25,875,170.89 | 27,202,641.00 | (1,327,470.11) | -4.88% | ||||||||
| OPERATING EXPENSES: (SCH G P.12A) | ||||||||||||
| PURCHASED POWER BASE | 7,527,278.58 | 7,240,339.00 | 286,939.58 | 3.96% | ||||||||
| PURCHASED POWER FUEL | 11,101,384.75 | 12,285,152.00 | (1,183,767.25) | -9.64% | ||||||||
| OPERATING | 2,441,553.48 | 2,779,815.00 | (338,261.52) | -12.17% | ||||||||
| MAINTENANCE | 765,970.14 | 911,115.00 | (145,144.86) | -15.93% | ||||||||
| DEPRECIATION | 1,002,100.00 | 1,012,880.00 | (10,780.00) | -1.06% | ||||||||
| VOLUNTARY PAYMENTS TO TOWNS | 385,600.00 | 385,600.00 | 0.00 | 0.00% | ||||||||
| TOTAL OPERATING EXPENSES | 23,223,886.95 | 24,614,901.00 | (1,391,014.05) | -5.65% | ||||||||
| OPERATING INCOME | 2,651,283.94 | 2,587,740.00 | 63,543.94 | 2.46% | ||||||||
| NONOPERATING REVENUES (EXPENSES) | ||||||||||||
| CONTRIBUTIONS IN AID OF CONST | 59,555.28 | 200,000.00 | (140,444.72) | -70.22% | ||||||||
| RETURN ON INVESTMENT TO READING | (691,110.67) | (688,800.00) | (2,310.67) | 0.34% | ||||||||
| INTEREST INCOME | 195,147.67 | 133,332.00 | 61,815.67 | 46.36% | ||||||||
| INTEREST EXPENSE | (27,712.47) | (26,960.00) | (752.47) | 2.79% | ||||||||
| OTHER (MDSE AND AMORT) | 216,837.07 | 32,152.00 | 184,685.07 | 574.41% | ||||||||
| TOTAL NONOPERATING REV (EXP) | (247,283.12) | (350,276.00) | 102,992.88 | -29.40% | ||||||||
| CHANGE IN NET ASSETS | 2,404,000.82 | 2,237,464.00 | 166,536.82 | 7.44% | ||||||||
| NET ASSETS AT BEGINNING OF YEAR | 85,989,763.81 | 85,989,763.81 | 0.00 | 0.00% | ||||||||
| NET ASSETS AT END OF OCTOBER | 88,393,764.63 | 88,227,227.81 | 166,536.82 | 0.19% | ||||||||
| * | ( ) = ACTUAL UNDER BUDGET | |||||||||||