| TOWN OF READING, MASSACHUSETTS |
| MUNICIPAL LIGHT
DEPARTMENT |
| BUSINESS-TYPE
PROPRIETARY FUND |
| STATEMENT OF NET
ASSETS |
| 5/31/08 |
|
|
|
|
|
|
|
PREVIOUS YEAR |
|
CURRENT YEAR |
|
|
|
|
| ASSETS |
|
|
|
|
|
|
|
|
| CURRENT |
|
|
|
|
| UNRESTRICTED CASH |
|
(SCH A P.9) |
12,590,794.65 |
|
13,182,998.23 |
| RESTRICTED CASH |
|
(SCH A P.9) |
25,487,601.05 |
|
12,254,607.33 |
| RESTRICTED INVESTMENTS |
(SCH A P.9) |
4,400,000.00 |
|
2,900,000.00 |
|
RECEIVABLES, NET |
|
(SCH B P.10) |
6,207,586.38 |
|
6,311,362.25 |
| PREPAID EXPENSES |
|
(SCH B P.10) |
526,243.22 |
|
415,588.00 |
| INVENTORY |
|
1,578,690.37 |
|
1,914,309.89 |
|
|
|
|
| TOTAL CURRENT ASSETS |
|
50,790,915.67
|
|
36,978,865.70 |
|
|
|
|
| NONCURRENT |
|
|
|
|
| INVESTMENT IN ASSOCIATED CO |
(SCH C P.2) |
146,594.04 |
|
133,576.92 |
|
CAPITAL ASSETS, NET |
|
(SCH C P.2) |
57,070,335.58 |
|
60,760,577.17 |
| OTHER ASSETS |
|
(SCH C P.2) |
23,289.74 |
|
19,797.20 |
|
|
|
|
| TOTAL NONCURRENT ASSETS |
|
57,240,219.36 |
|
60,913,951.29 |
|
|
|
|
| |
|
|
|
|
| TOTAL
ASSETS |
|
108,031,135.03 |
|
97,892,816.99 |
|
|
|
|
|
|
|
|
|
|
|
|
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|
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|
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|
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|
| LIABILITIES |
|
|
|
|
|
|
|
|
| CURRENT |
|
|
|
|
| ACCOUNTS PAYABLE |
|
5,450,147.70 |
|
6,155,245.46 |
| CUSTOMER DEPOSITS |
|
485,057.71 |
|
494,666.59 |
| CUSTOMER ADVANCES FOR CONSTRUCTION |
632,426.17 |
|
665,388.97 |
| ACCRUED LIABILITIES |
|
213,329.76 |
|
43,018.44 |
| CURRENT PORTION OF BONDS PAYABLE |
|
550,000.00 |
|
550,000.00 |
| CALPINE LIABILITY |
|
11,279,633.39 |
|
0.00 |
|
|
|
|
| TOTAL CURRENT LIABILITIES |
|
18,610,594.73 |
|
7,908,319.46 |
|
|
|
|
| NONCURRENT |
|
|
|
|
| BONDS PAYABLE, NET OF CURRENT PORTION |
1,100,000.00 |
|
550,000.00 |
| ACCRUED EMPLOYEE COMPENSATED ABSENCES |
2,267,230.58 |
|
2,467,163.90 |
|
|
|
|
| TOTAL NONCURRENT LIABILITIES |
|
3,367,230.58 |
|
3,017,163.90 |
|
|
|
|
|
|
|
|
| TOTAL
LIABILITIES |
|
21,977,825.31 |
|
10,925,483.36 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| NET
ASSETS |
|
|
|
|
|
|
|
|
| INVESTED
IN CAPITAL ASSETS, NET OF RELATED DEBT |
55,420,335.58 |
|
59,660,577.17 |
| RESTRICTED
FOR DEPRECIATION FUND |
(P.9) |
|
2,744,534.51 |
|
3,188,872.86 |
| UNRESTRICTED |
|
27,888,439.63 |
|
24,117,883.60 |
|
|
|
|
| TOTAL
NET ASSETS |
|
(P.3) |
|
86,053,309.72
|
|
86,967,333.63 |
|
|
|
|
|
|
|
|
| TOTAL
LIABILITIES AND NET ASSETS |
|
108,031,135.03 |
|
97,892,816.99 |
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