| TOWN OF READING, MASSACHUSETTS | ||||||||||||
| MUNICIPAL LIGHT DEPARTMENT | ||||||||||||
| BUSINESS-TYPE PROPRIETARY FUND | ||||||||||||
| STATEMENT OF REVENUES, EXPENSES AND CHANGES IN FUND NET ASSETS | ||||||||||||
| 5/31/08 | ||||||||||||
| ACTUAL | BUDGET | % | ||||||||||
| YEAR TO DATE | YEAR TO DATE | VARIANCE* | CHANGE | |||||||||
| OPERATING REVENUES: (SCH F P.11B) | ||||||||||||
| BASE REVENUE | 34,657,701.36 | 36,750,658.00 | (2,092,956.64) | -5.70% | ||||||||
| FUEL REVENUE | 38,964,117.11 | 43,240,163.00 | (4,276,045.89) | -9.89% | ||||||||
| PURCHASED POWER CAPACITY REFUND | 2,110,085.70 | 0.00 | 2,110,085.70 | 100.00% | ||||||||
| FORFEITED DISCOUNTS | 785,764.01 | 808,515.00 | (22,750.99) | -2.81% | ||||||||
| TOTAL OPERATING REVENUES | 76,517,668.18 | 80,799,336.00 | (4,281,667.82) | -5.30% | ||||||||
| OPERATING EXPENSES: (SCH G P.12A) | ||||||||||||
| PURCHASED POWER BASE | 20,128,732.14 | 19,512,921.00 | 615,811.14 | 3.16% | ||||||||
| PURCHASED POWER FUEL | 41,210,423.05 | 43,240,163.00 | (2,029,739.95) | -4.69% | ||||||||
| OPERATING | 7,287,739.99 | 7,736,259.00 | (448,519.01) | -5.80% | ||||||||
| MAINTENANCE | 2,182,103.71 | 2,595,581.00 | (413,477.29) | -15.93% | ||||||||
| DEPRECIATION | 2,755,775.00 | 2,785,420.00 | (29,645.00) | -1.06% | ||||||||
| VOLUNTARY PAYMENTS TO TOWNS | 1,046,861.00 | 1,060,400.00 | (13,539.00) | -1.28% | ||||||||
| TOTAL OPERATING EXPENSES | 74,611,634.89 | 76,930,744.00 | (2,319,109.11) | -3.01% | ||||||||
| OPERATING INCOME | 1,906,033.29 | 3,868,592.00 | (1,962,558.71) | -50.73% | ||||||||
| NONOPERATING REVENUES (EXPENSES) | ||||||||||||
| CONTRIBUTIONS IN AID OF CONST | 198,389.43 | 375,000.00 | (176,610.57) | -47.10% | ||||||||
| RETURN ON INVESTMENT TO READING | (1,900,554.35) | (1,894,200.00) | (6,354.35) | 0.34% | ||||||||
| INTEREST INCOME | 540,064.85 | 366,663.00 | 173,401.85 | 47.29% | ||||||||
| INTEREST EXPENSE | (75,398.51) | (74,140.00) | (1,258.51) | 1.70% | ||||||||
| OTHER (MDSE AND AMORT) | 309,035.11 | 88,418.00 | 220,617.11 | 249.52% | ||||||||
| TOTAL NONOPERATING REV (EXP) | (928,463.47) | (1,138,259.00) | 209,795.53 | -18.43% | ||||||||
| CHANGE IN NET ASSETS | 977,569.82 | 2,730,333.00 | (1,752,763.18) | -64.20% | ||||||||
| NET ASSETS AT BEGINNING OF YEAR | 85,989,763.81 | 85,989,763.81 | 0.00 | 0.00% | ||||||||
| NET ASSETS AT END OF MAY | 86,967,333.63 | 88,720,096.81 | (1,752,763.18) | -1.98% | ||||||||
| * | ( ) = ACTUAL UNDER BUDGET | |||||||||||