| TOWN OF READING, MASSACHUSETTS | ||||||||||||
| MUNICIPAL LIGHT DEPARTMENT | ||||||||||||
| BUSINESS-TYPE PROPRIETARY FUND | ||||||||||||
| STATEMENT OF REVENUES, EXPENSES AND CHANGES IN FUND NET ASSETS | ||||||||||||
| 9/30/07 | ||||||||||||
| ACTUAL | BUDGET | % | ||||||||||
| YEAR TO DATE | YEAR TO DATE | VARIANCE* | CHANGE | |||||||||
| OPERATING REVENUES: (SCH F P.11B) | ||||||||||||
| BASE REVENUE | 10,808,670.34 | 11,423,294.00 | (614,623.66) | -5.38% | ||||||||
| FUEL REVENUE | 8,754,738.04 | 9,765,878.00 | (1,011,139.96) | -10.35% | ||||||||
| PURCHASED POWER CAPACITY REFUND | 74,670.78 | 0.00 | 74,670.78 | 100.00% | ||||||||
| FORFEITED DISCOUNTS | 227,776.83 | 251,312.00 | (23,535.17) | -9.36% | ||||||||
| TOTAL OPERATING REVENUES | 19,865,855.99 | 21,440,484.00 | (1,574,628.01) | -7.34% | ||||||||
| OPERATING EXPENSES: (SCH G P.12A) | ||||||||||||
| PURCHASED POWER BASE | 5,671,083.84 | 5,418,662.00 | 252,421.84 | 4.66% | ||||||||
| PURCHASED POWER FUEL | 8,582,699.18 | 9,765,878.00 | (1,183,178.82) | -12.12% | ||||||||
| OPERATING | 1,782,854.17 | 2,040,961.00 | (258,106.83) | -12.65% | ||||||||
| MAINTENANCE | 608,855.58 | 700,128.00 | (91,272.42) | -13.04% | ||||||||
| DEPRECIATION | 751,575.00 | 759,660.00 | (8,085.00) | -1.06% | ||||||||
| VOLUNTARY PAYMENTS TO TOWNS | 289,200.00 | 289,200.00 | 0.00 | 0.00% | ||||||||
| TOTAL OPERATING EXPENSES | 17,686,267.77 | 18,974,489.00 | (1,288,221.23) | -6.79% | ||||||||
| OPERATING INCOME | 2,179,588.22 | 2,465,995.00 | (286,406.78) | -11.61% | ||||||||
| NONOPERATING REVENUES (EXPENSES) | ||||||||||||
| CONTRIBUTIONS IN AID OF CONST | 13,553.76 | 100,000.00 | (86,446.24) | -86.45% | ||||||||
| RETURN ON INVESTMENT TO READING | (518,333.00) | (516,600.00) | (1,733.00) | 0.34% | ||||||||
| INTEREST INCOME | 132,807.95 | 99,999.00 | 32,808.95 | 32.81% | ||||||||
| INTEREST EXPENSE | (20,876.99) | (20,220.00) | (656.99) | 3.25% | ||||||||
| OTHER (MDSE AND AMORT) | 177,206.75 | 24,114.00 | 153,092.75 | 634.87% | ||||||||
| TOTAL NONOPERATING REV (EXP) | (215,641.53) | (312,707.00) | 97,065.47 | -31.04% | ||||||||
| CHANGE IN NET ASSETS | 1,963,946.69 | 2,153,288.00 | (189,341.31) | -8.79% | ||||||||
| NET ASSETS AT BEGINNING OF YEAR | 85,989,763.81 | 85,989,763.81 | 0.00 | 0.00% | ||||||||
| NET ASSETS AT END OF SEPTEMBER | 87,953,710.50 | 88,143,051.81 | (189,341.31) | -0.21% | ||||||||
| * | ( ) = ACTUAL UNDER BUDGET | |||||||||||