| TOWN OF READING, MASSACHUSETTS | ||||||||||||
| MUNICIPAL LIGHT DEPARTMENT | ||||||||||||
| BUSINESS-TYPE PROPRIETARY FUND | ||||||||||||
| STATEMENT OF REVENUES, EXPENSES AND CHANGES IN FUND NET ASSETS | ||||||||||||
| 4/30/08 | ||||||||||||
| ACTUAL | BUDGET | % | ||||||||||
| YEAR TO DATE | YEAR TO DATE | VARIANCE* | CHANGE | |||||||||
| OPERATING REVENUES: (SCH F P.11B) | ||||||||||||
| BASE REVENUE | 31,811,335.79 | 33,851,813.00 | (2,040,477.21) | -6.03% | ||||||||
| FUEL REVENUE | 34,636,151.56 | 39,195,780.00 | (4,559,628.44) | -11.63% | ||||||||
| PURCHASED POWER CAPACITY REFUND | 1,729,203.43 | 0.00 | 1,729,203.43 | 100.00% | ||||||||
| FORFEITED DISCOUNTS | 735,162.12 | 744,740.00 | (9,577.88) | -1.29% | ||||||||
| TOTAL OPERATING REVENUES | 68,911,852.90 | 73,792,333.00 | (4,880,480.10) | -6.61% | ||||||||
| OPERATING EXPENSES: (SCH G P.12A) | ||||||||||||
| PURCHASED POWER BASE | 18,357,456.49 | 17,803,155.00 | 554,301.49 | 3.11% | ||||||||
| PURCHASED POWER FUEL | 36,826,459.55 | 39,195,780.00 | (2,369,320.45) | -6.04% | ||||||||
| OPERATING | 6,643,697.78 | 7,125,707.00 | (482,009.22) | -6.76% | ||||||||
| MAINTENANCE | 2,013,397.05 | 2,379,408.00 | (366,010.95) | -15.38% | ||||||||
| DEPRECIATION | 2,505,250.00 | 2,532,200.00 | (26,950.00) | -1.06% | ||||||||
| VOLUNTARY PAYMENTS TO TOWNS | 950,461.00 | 964,000.00 | (13,539.00) | -1.40% | ||||||||
| TOTAL OPERATING EXPENSES | 67,296,721.87 | 70,000,250.00 | (2,703,528.13) | -3.86% | ||||||||
| OPERATING INCOME | 1,615,131.03 | 3,792,083.00 | (2,176,951.97) | -57.41% | ||||||||
| NONOPERATING REVENUES (EXPENSES) | ||||||||||||
| CONTRIBUTIONS IN AID OF CONST | 173,656.61 | 375,000.00 | (201,343.39) | -53.69% | ||||||||
| RETURN ON INVESTMENT TO READING | (1,727,776.68) | (1,722,000.00) | (5,776.68) | 0.34% | ||||||||
| INTEREST INCOME | 471,500.43 | 333,330.00 | 138,170.43 | 41.45% | ||||||||
| INTEREST EXPENSE | (68,522.12) | (67,400.00) | (1,122.12) | 1.66% | ||||||||
| OTHER (MDSE AND AMORT) | 307,021.80 | 80,380.00 | 226,641.80 | 281.96% | ||||||||
| TOTAL NONOPERATING REV (EXP) | (844,119.96) | (1,000,690.00) | 156,570.04 | -15.65% | ||||||||
| CHANGE IN NET ASSETS | 771,011.07 | 2,791,393.00 | (2,020,381.93) | -72.38% | ||||||||
| NET ASSETS AT BEGINNING OF YEAR | 85,989,763.81 | 85,989,763.81 | 0.00 | 0.00% | ||||||||
| NET ASSETS AT END OF APRIL | 86,760,774.88 | 88,781,156.81 | (2,020,381.93) | -2.28% | ||||||||
| * | ( ) = ACTUAL UNDER BUDGET | |||||||||||