HomeMy WebLinkAbout2013-01-30 RMLD Board of Commissioners Minutes Reading Municipal Light Board of Commissioners
Regular Session
230 Ash Street KECE1,40
Reading,MA 01867 TOWN CLERIK
January 30,2013 READJAG, MAss.
Start Time of Regular Session: 7:35 p.m. A $= 5b
End Time of Regular Session: 9:20 p.m. 1013 FEB 28
Commissioners:
Philip B.Pacino,Chairman Gina Snyder,Vice Chair
Marsie West,Secretary Robert Soli,Commissioner
John Stempeck,Commissioner
Staff:
Vinnie Cameron,General Manager-Absent Beth Ellen Antonio,Human Resources Manager
Jared Carpenter,Energy Efficiency Engineer Jeanne Foti,Executive Assistant
Robert Fournier,Accounting/Business Manager Jane Parenteau,Energy Services Manager
David Polson,Facilities Manager Kathleen Rybak,Engineering and Operations Assistant
William Seldon,Senior Energy Analyst Kevin Sullivan,Interim General Manager
Citizens'Advisory Board:
Dave Nelson,Member
Thomas 011ila,Secretary
Reading Climate Advisory Committee:
Joan Boegel,Chairman
Public:
Douglas Short
avid Talbot
Vin.
Opening Remarks
Chairman Pacino called the meeting to order and stated that the meeting was being videotaped.
Introductions
Chairman Pacino acknowledged Citizens' Advisory Board members in attendance at the meeting. Mr. David Nelson and Mr.
Thomas 011ila were present.
Chairman Pacino announced that he is a candidate running for re-election. There are still things to be accomplished
including hiring a permanent General Manager and establishing sustainable energy policies.
Presentation RMLD Solar Options and Programs—Mr.Carpenter-(Attachment 1)
Mr. Carpenter presented RMLD's Solar Options and Programs including solar resources in RMLD's territory,residential and
commercial programs, and the potential of a RMLD Green Solar Garden. Several years ago, the Board directed RMLD to
come up with a replacement for the Green Choice Program. Mr. Carpenter has suggested creating a community green solar
garden by putting solar panels on the garage at 218 Ash Street and allowing residential customers to own a solar panel.
The project has a high level projected cost of$235,000 for a 60 kW solar array and customers will pay$8.50 monthly to buy
a panel with a projected pay back in 5 years. RMLD will buy the power back and sell the RECs for the customers unless
RMLD chooses to keep them. After the solar panels are paid off,the customer would get a reduction in their monthly bill.
Current residential and commercial solar installations were also summarized, along with potential projects. Mr. Carpenter is
working with Town Manager, Peter Hechenbleikner, and others on a state project for RMLD, which involves large volume
procurement for solar panels.
114r.Carpenter also discussed the residential and commercial rebate programs as well as net metering.
r. Doug Short spoke as an RMLD customer with over 30 years of professional involvement in the electric utility industry.
He thinks that it is critically important for RMLD to get involved with this. The Department of Energy program called Sun
Shot Initiative aims to drive down the cost for installed solar to$1 per watt by 2020 or earlier.
Regular Session Meeting Minutes 2
January 30,2013
Presentation-RMLD Solar Options and Programs—Mr.Carpenter(Attachment 1)
Mr. Short stated that the RMLD could lose the opportunity for behind the meter sales and the ability to supply solar power to
its residents with this low cost option.
Municipalities can contact Mr.Carpenter to find out more information on solar projects.
Chairman Pacino commented that he is hesitant to start new initiatives without a permanent General Manager in place. He
will make sure this item is on the agenda for the permanent General Manager. Ms. Snyder disagreed with Chairman Pacino
since Mr. Sullivan is capable of moving forward and there will be a steep learning curve for the new General Manager. Ms.
Snyder said the Commissioners need to provide RMLD direction so they can move forward.
Ms.West pointed out that the Board is here to set policy not to make operational decisions;directing RMLD to start a project
seems to be an operational decision. It is a good idea to have a renewable,tangible project onsite,but RMLD should wait for
a permanent General Manager. The Board can set the policy and direction to make this a high priority for the General
Manager.
Ms. Snyder confirmed with Mr. Sullivan that this project would need to be in the capital budget. Chairman Pacino noted that
the funds would be in the new fiscal year, starting July 1, but Mr. Carpenter pointed out it could be funded from the
conservation fund. Mr. Sullivan pointed out that Mr. Cameron was aware of the project;however, it was not fully assessed
and needs to be reviewed before moving forward.
Ms. Boegel attended this evening's meeting to support the proposal on behalf of the Reading Climate Advisory Committee.
This aligns with their goals to reduce the use of fossil fuels and greenhouse gases which affect global climate change.
Chairman Pacino stated that the proposal will be on the agenda for next month. Chairman Pacino asked that Mr. Cameron
take a look to provide his opinion. The Green Choice program is outdated and he likes this concept going forward.
Mr. 011ila asked if anything must be done formally to end the Green Choice Program. The Green Choice Program has a filed
rate,so a rate change would be required.
Approval of November 28,2012 Board Minutes
Ms. West made a motion seconded by Mr. Soli that the RMLD Board of Commissioners approve the Regular Session
meeting minutes of November 28,2012 with the change presented by Ms. Snyder.
Motion carried 5:0:0.
Report of Board Committee-General Manager Search Committee—Chairman Pacino
Chairman Pacino reported that the General Manager Search Committee met on January 14 and they reviewed bids from
search firms. There were two quotes received with one additional scope from the Collins Center, who is exempt from
Chapter 30B. The quotes were determined to be non-responsive under Chapter 30B. Chairman Pacino noted that the Collins
Center's area of expertise is in town managers, not in general managers of light departments. The committee is now asking
for sealed bids with a refined scope to focus on finding qualified candidates.
Mr. Soli asked about the timeframe for the RFP and bids. Ms.Antonio explained that the bid will be published in the Central
Register within the next few weeks followed by a couple of weeks to respond. She estimated the process to award the bid
will take a month with a total of ninety to one hundred twenty days to complete the hiring process.
Mr. Soli expressed concern about committee membership with the impending elections. There are three candidates for two
vacancies on the Board and Ms. West has pulled papers for Board of Selectmen, so there is a possibility of losing a person on
the committee. Perhaps restructuring the committee should take place based on these facts;however,different members could
be on the Board at that point.
Mr. Soli is concerned the committee will lose a month of work with firm selection by March 1 and the election on April 2.
Ms. West noted that a month of work will not be lost; the firm will have been selected and begun their recruiting process to
find qualified resumes. The issue with the search process initially was a limited pool of resumes. Mr. Stempeck added that
Mr. Soli is asking to expand the search committee to one more member. Chairman Pacino responded that the state has ruled is
that three members constitute a quorum of the Board,which is not permitted on a search committee.
Regular Session Meeting Minutes 3
January 30,2013
�, eport of Board Committee-General Manager Search Committee—Chairman Pacino
Mr. Stempeck stated that he shares the concern with finding someone quickly. His experience with executive search firms is
to specify the timeline to expedite the process. Ms. Antonio added that the scope will be limited since preliminary work has
already been completed to define the role. Mr. Stempeck recommended that the Committee proactively define the number of
resumes to be produced in a four week timeline. Ms. Antonio can tighten up the language in the bid. Chairman Pacino added
that if Ms. West is elected to the Board of Selectmen, she could potentially continue to serve on the search committee. Ms.
West said that she would like to see the process to fruition.
General Manager's Report—Mr.Sullivan—Interim General Manager(Attachment 2)
Mr. Sullivan recognized and introduced a new employee to the RMLD,Ms.Kathleen Rybak,who works as the Engineering
and Operations Assistant.
Good Neighbor Energy Fund—January Billings
Good Neighbor Energy Fund donation envelopes will be enclosed with the January bills. A donation link will be sent via e-
mail to customers that receive electronic bills.
Shadow Day at RMLD—February 4
Job Shadow Day will take place at RMLD on February 4. Two Wilmington High students will shadow the Facilities
Manager,and Customer Service Manager.
Presentation to Lynnfield Fire Department—February 13
On February 13, RMLD General Line Foreman, an Engineering Project Manager and the Public Relations Manager will
make a presentation to the Lynnfield Fire Department covering electrical safety, electricity education and a first responder
video.
Other Post Employment Benefits(OPEB)
lelanson Heath&Company,PC Letter of Recommendation and Rubin and Rudman's Legal Opinion
LD received a letter from the auditor Melanson Heath in January 2013 about the Other Post Employment Benefits
(OPEB). In the letter,Melanson Heath suggested that the RMLD establish a formal irrevocable trust document for the OPEB
trust to: reduce the OPEB liability in the financial statements, align more closely with GASB 45 and align with the town,
which is looking into use of a trust fund document.
Mr. Sullivan contacted legal counsel Rubin and Rudman for their opinion on this matter. Rubin and Rudman's opinion states
that the RMLD Board accepted Massachusetts General Law, Chapter 32B, Section 20 in May 2012, appropriated the funds,
segregated and transferred them to RMLD's reserve. Since that time, the OPEB funds have been invested by Nancy
Heffernan,Reading Town Treasurer. There is no statutory requirement that RMLD execute a formal document for the OPEB
liability trust fund. However,they advise the use of a trust fund document if RMLD pursues a custodian to invest the funds.
Mr. Sullivan reviewed this with Business Manager Bob Fournier and the town. He would like to table this issue until the
next month to explore investing RMLD and Town OPEB funds in the state retiree trust fund to provide more favorable
investment options. Mr. Sullivan plans to research if the document in place is adequate. Ms.West added that RMLD should
maximize our investment of these funds. The Commissioners discussed the differences in opinions from the legal and audit
firms and the complexities of GASB.
The Board did not take any formal action,but it will be on the next meeting agenda.
Interim General Manager—Chairman Pacino
Chairman Pacino noted that Mr. Sullivan is the interim General Manager while Mr. Cameron is on vacation. He reminded
the Commissioners that under Chapter 164, the Board only has authority over the General Manager, not over anyone else in
the Department. If that is breached,the indemnification agreement will not cover the Commissioners. Mr. Sullivan clarified
that Mr.Cameron's last day is March 1.
The Commission will have to appoint the interim General Manager as of March 1 at the next meeting. Chairman Pacino
� ggested forming a subcommittee to make a recommendation. Chairman Pacino asked that RMLD check on the number of
Wrommission members permitted to avoid violating any,rules. Any appointments should be contingent on that determination.
Ms. West recommended a vote on an alternative subcommittee with two Commissioners to avoid loss of time if three
members are not permitted.
Regular Session Meeting Minutes 4
January 30,2013
Interim General Manager—Chairman Pacino
Mr. Soli made a motion seconded by Ms. Snyder that Mr. Stempeck, Chairman Pacino and Mr. Soli be appointed to the
Interim General Manager Committee subject to legal ruling from the Attorney General's office that this is permissible.
Motion carried 5:0:0.
Mr. Soli made a motion seconded by Ms. Snyder that upon ruling from the Attorney General's office that if there is a
potential violation of the laws of the Commonwealth of Massachusetts, appointment to the Interim General Manager
Committee will be Mr.Soli and Chairman Pacino.
Motion carried 5:0:0.
Power Supply Report—December 2012—Ms.Parenteau(Attachment 3)
Ms. Parenteau presented the December power supply report provided in the Commissioner packets covering power supply
changes, energy cost, fuel charges and collections, fuel reserve balance, spot market purchases, capacity costs, demand as
well as the percentage of RMLD's hydro projects. Ms. Parenteau pointed out that Table 5 reflects the REC activity for 2012
as requested by the Board. In December,the General Manager authorized and signed a purchase power agreement for 12,609
RECs and RMLD retired the balance of 750 RECs. As a result,RMLD will receive$581,000 in net revenue. Ms.Parenteau
explained the slight decrease in RECs late last year was due to maintenance on the Pepperell project.
Ms. Parenteau discussed energy conservation programs and RMLD's energy audit bid structure to support gas customers.
There have been many requests for residential audits and RMLD is approaching the budgeted amount for audits. Per the
General Manager's directive,the audits are on temporary hold until the contract bid parameters and RMLD's internal process
are reviewed to ensure best use of the funds. Tier I and Tier II energy audits were described.
Chairman Pacino clarified that are audits temporarily on hold due to budgeting constraints. RMLD can contract for 25%
above the initial contract up to$75,000 for energy audits. RMLD is under contract for$60,000 annually for 3 years.
Mr. Sullivan, Ms. Parenteau and Mr. Fournier had a meeting on audits and rebates; as a result the vetting process will be
improved to identify who would benefit most from the audits. Chairman Pacino requested that RMLD let the Board know if
additional funds are needed for the audits to support this worthwhile program.
Engineering and Operations Report—December 2012—Mr.Sullivan(Attachment 4)
Mr. Sullivan presented the report included in the Commissioner packet covering the monthly capital projects, an update on
the metering project and reliability reporting.
Mr. Sullivan pointed out that in the November Report the Customer Average Interruption Duration Index (CAIDI) rolling
average is at 73.86 minutes, which is above the four-year average of 51 minutes. The monthly average is up from the four-
year outage duration due to a single incident where 900 customers lost power. However, the trending is positive, which
translates into a lower System Average Interruption Frequency Index (SAIFI). CAIDI is the lowest this year at 30.16
minutes, which is uncommon for December because the average is 52.75 minutes. The System Average Intemtption
Frequency Index(SAIFI)rolling average is trending favorably,indicating a high degree of reliability.Ms. Snyder pointed out
that large storms do not get reported in the statistics. Mr. Sullivan confirmed that outages affectingl5% or more of the
service territory do not get added into the Reliability Report.
Mr. Soli asked about reconductoring. Mr. Sullivan explained that an upgrade or reconductor is done to increase capacity,the
wire does not wear out but the connections can wear out.
A milestone was reached on the meter upgrade project when residential billings were performed through the fixed network in
January and commercial billing will follow in February.
Ms. Snyder raised the question of why RMLD does not have more underground lines, noting that past discussions revealed
they are more expensive to install and maintain. Mr. Sullivan responded that the added expense comes primarily from
equipment maintenance and trying to locate faults underground. Ms. Snyder requested that the next Cost of Service Study
consider a different cost for underground service. •
Financial Report—December 2012—Mr.Fournier(Attachment 5)
Mr. Fournier presented the financial report included in the Commissioner packet for the first six months, with YTD net
income of$1,690,040 and YTD sales of 368,000,000 kilowatt hours. In December, the town payments were made totaling
$677,000,along with the Reading return on investment of$1.1 million.
Regular Session Meeting Minutes 5
January 30,2013
„financial Report—December 2012—Mr.Fournier(Attachment 5)
Mr. Sullivan intends to keep the budget process Mr. Cameron had in place. Mr. Fournier will include format changes to the
budget documents suggested last year.
M.G.L.Chapter 30B Bid-2013-15 Concrete Repairs—Mr.Polson(Attachment 6)
This bid is for concrete repairs at Stations#3,#4 and#5,36 companies were sent the bid,with 8 responses. Infrastructure is
being recommended as the lowest qualified and responsive bidder.
Ms. West made a motion seconded by Mr. Stempeck that bid 2013-15 for Concrete Steps, Walkway& Railing Maintenance
and Repair Work be awarded to Infrastructure for $17,760.00 as the lowest qualified and responsive bidder on the
recommendation of the Interim General Manager.
Motion carried 5:0:0.
General Discussion
Chairman Pacino recognized Mr. David Talbot. Mr. Talbot is a Reading resident who has pulled papers to run for
Commissioner. He came to learn more about the operations and would like to assist in promoting existing RMLD programs
such as Time of Use Rate meters. His background is journalism and he has ideas on how to communicate and improve
websites. Mr. Talbot mentioned that the Time of Use Rate is quite cost effective based on his experience,providing some of
the lowest electricity rates in the country.
BOARD MATERIAL AVAILABLE BUT NOT DISCUSSED
Rate Comparisons,January 2013
E-Mail responses to Account Payable/Payroll Questions
Account Payable Rotation
February—Vice Chair Snyder
LD Board Meetings
Wednesday,February 27,2013 and March 27,2013
Chairman Pacino said that he may be out of town for the February or March meeting.
Ms.West stated that she will be unable to make the RMLD Board meeting on February 27.
Citizens'Advisory Board Meeting
Wednesday,March 13,2013
Citizens'Advisory Board Meeting-Budget Committee Meetings
Wednesday,April 3,2013 and Wednesday,April 10,2013
Executive Session
At 9:10 p.m. Ms. West made a motion seconded by Ms. Snyder that the Board go into Executive Session to approve the
Executive Session meeting minutes of November 28 2012, to discuss strategy with respect to collective bargaining and
arbitration and return to Regular Session for the sole purpose of adjournment.
Motion carried by a polling of the Board:
Ms. Snyder,Aye;Mr. Stempeck,Aye; Chairman Pacino,Aye;Mr. Soli,Aye;and Ms.West,Aye.
Motion carried 5:0:0.
Adjournment
At 9:20 p.m. Ms.West made a motion seconded by Ms. Snyder to adjourn the Regular Session.
A true copy of the RMLD Board of Commissioners minutes
as approved by a majority of the Commission.
Marsie West, Secretary
RMLD Board of Commissioners
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MELANSON HEATH & COMPANY, PC
CERTIFIED PUBLIC ACCOUNTANTS
MANAGEMENT ADVISORS
January 4, 2013 10 Nem England B.,i .Cerner Drive.Since 107
An" ,,MA 01810
Tel(978) 749,0005 " Rix(978) 749.0006
mmm.meW,smdEwhsom
Mr. Vincent Cameron
General Manager
Reading Municipal Light Department
230 Ash Street
Reading, Massachusetts 01867-0250
Dear Mr. Cameron,
This letter is in response to our phone conversation earlier today regarding the
Department's treatment of the GASB 45 Other Post-Employment Benefits(OPEB)
liability.
In May 2010 the Light Board of Commissioners accepted Section 20 of MGL
Chapter 32B dealing with OPEB. Subsequently, the Commissioners approved
setting cash aside to fund the OPEB liability, however, the Department's attorney
opined that these funds were not considered "irrevocable" (as required by
GASB 45) because no formal trust document was established. As a result, the
OPEB cash was not reported in a separate fiduciary fund in the Department's
financial statements, nor was the OPEB liability reduced to reflect the funding.
We understand the Town of Reading recently approved Section 20 of MGL
Chapter 32B, and is in process of establishing an irrevocable trust document. We
recommend the Department also consider establishing a formal irrevocable trust
document for its OPEB. This will result in reducing (or eliminating) the OPEB
liability that is currently reflected in the Department's financial statements, and
would conform more closely to the intent of GASB 45. This presentation would be
more consistent with the Town's treatment and may also be viewed favorably by
bond rating agencies.
I will be happy to discuss this subject further with you and/or the Board of
Commissioners if requested.
Sincerely,
Frank R. Biron, CPA
President
ATTACHMENT2
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NIV1ANu�
eys at Law
T:617.330.7000 F:617.330.7550
50 Rowes Wharf,Boston, MA 02110
Diedre T. Lawrence
Direct Dial:e17-330-1056
E-mail:OLawrance�ruEinrvtlman.wm
MEMORANDUM
BY EMAIL
To: Kevin Sullivan,Acting General Manager
Reading Municipal Light Department
From: Diedre T.Lawrence,Karla Doukas
Re: Creation of an Irrevocable OPEB Trust
Date: January 24,2013
® INTRODUCTION
We have reviewed the January 4,2013 letter from Frank Biron,President of Melanson
Heath&Company,PC recommending that the Reading Municipal Light Department("RMLD')
establish an irrevocable trust instrument governing its Other Post-Employment Benefits
("OPEB")funds. Mr. Biron states that while in 2010 RMLD accepted the OPEB statute(G.L. c.
32B, §20),because RMLD did not establish a formal trust instrument,RMLD's OPEB cash was
not reported in a separate fiduciary fund in RMLD's financial statements. As a result,RMLD's
OPEB liability was not reduced to reflect any such OPER funding.
Based on our research, we conclude that G.L. c. 32B, §20 does not require municipal
light plants to establish a formal trust document to place funds in an OPEB Trust once that
statute is accepted by the RMLD Board. Once accepted,an OPEB Trust arises by operation of
law,which cannot be rescinded or revoked. Accordingly,a formal trust instrument is not legally
necessary to report RMLD's OPEB cash on its financial statements or to reduce RMLD's OPEB
liabilities as long as the funds are appropriated and transferred to RMLD's OPEB Trust Fund.
'Chis memorandum is being provided to you pursuant to G.L.c. 164, §56.
DISCUSSION
As you are aware,G.L.c. 32B, §20(as amended in 2011)authorizes cities,towns,and
municipal light plants to establish an OPEB Liability Trust Fund and to appropriate amounts to
be credited to the fund. For RMLD to establish an OPEB Liability Trust Fund,the statute
® merely requires the RMLD Board of Commissioners to vote to accept the provisions of the
13451i8_1
Kevin Sullivan,Acting General Manager
January 24,2013
Page 2
statute. G.L. c. 32B, § 20 (c). By law, the OPEB funds must be held in a segregated fund,which
shall be protected from claims of any of RMLD's general creditors.
There is no statutory requirement that RMLD execute any formal documents to create the
OPEB Liability Trust Fund. It arises by operation of law. Once RMLD accepts G.L. c. 32B, §
20, its acceptance cannot be rescinded or revoked. See G.L. c. 32B, § 10("[njotwithstanding the
provisions of any general law to the contrary,neither the acceptance of this chapter nor the
acceptance of any individual section thereof by a governmental unit shall be revoked or
rescinded"). Accordingly,although RMLD is not required to appropriate funds(or any
particular amount)to its OPEB Trust Liability Fund,once it does so,such funds only may be
used for its OPEB liabilities.
Tax Counsel for the Massachusetts Department of Revenue("DOR"),Division of Local
Services("DLS")has confirmed that a"trust document"is not necessary to place funds in an
OPEB Trust under G.L. c. 3213, § 20 as long as that statute has been accepted by the appropriate
governing body. (See attached email correspondence from Gary Blau,Tax Counsel,on behalf of
DOR DLS Law,dated May 18,2011). Although DOR Tax Counsel also has confirmed that an
OPEB Trust cannot be rescinded, Tax Counsel,however,has not expressed an opinion on •
whether the creation of the OPEB Trust under G.L. c, 32B, § 20 satisfies GASB requirements.
(See attached email correspondence from Christopher Hinchey,Tax Counsel,of DOR DLS Law,
dated October 5,2009). From our research,it does not appear that GASB 45 requires a formal
written trust document.'
In many situations,a formal trust instrument will not be necessary given that OPEB
Funds typically are managed and invested by the Town Treasurer. To the extent that RMLD
appoints an outside custodian as permitted by G.L. c. 32B, § 20(b),then a trust instrument or
custodial agreement may be advisable. Nonetheless,because RMLD is operated independently
from the Town of Reading("Town"), RMLD does not have to follow the same approach as the
Town.
Please feel free to contact us if you have any further questions.
As we understand,GASB 45 requires the following:(1)the employer contributions to the trust must be
irrevocable;(2)the assets must be dedicated to providing benefits to retirees and their beneficiaries;and(3)the
assets must be legally protected from the employer's creditors.See Governmental Accounting Standards Board:
Other Parremployment Benefits:A Plain-Language Summary of GASB Statements No. 43 and Nn. 45,at pp.4-5.
These requirements are satisfied through G.L.c.3211,§20,which provides for the creation of an OPEB Liability
Trust Fund upon acceptance of the statute by the municipal light board,which cannot be revoked or rescinded. "rhe
statute also protects the OPEB Trust Funds from creditor claims,specifying that"(a]II monies held in the fund shall
be segregated from other funds and shall not be subject to the claims of any general creditor of the city,town,
district,county or municipal lighting plant." Thus,the contributions are irrevocable,dedicated 0 providing benefits •
and protected from creditors.
1345118_1
Employment Benefits Liability Trust Fund at their meeting on April 12,2011. The
balance in this trust is currently$2,118,111.19. 1 have attached a copy of the law,which
states they have the ability to do appoint a new custodian. I am currently the custodian of
the f nul.My question is how I transfer the funds to the new custodian,thru the warrant
process?Ifurwhen I imnsfer the funds,how are the funds recorded on the books of the
Town if I no longer have custody?Should I require that they show me a bond for the
new custodian?I do not believe this law is in the beat interest of municipalities.The
general manager of the Gas and Electric wants to invest in U.S.Treasuries and I do not
agree with him so he has convinced the Gas and Electric Commissioners to appoint him
as the custodian.
Currently I de the all banking and borrowing for the Gas and Electric department,Are the
Gas and Electric commissioners(they may appoint themselves)or the appointed
custodian now allow the have bank accounts with the Towns tax ID number?If you could
give me guidance on how to handle this situation I would greatly apprecite it.Thank you
in advance for you help.
Judy M.Mac Donald
Treasurer/Collector
Town of Middleborough
20 Centre St.
Middleborough,MA 02346
(PH)508-946-2421
Fax 508-947-5447
imcdnld(almiddleborouah corn
Email Response 2011-589—Sudbury—OPEB Trust Document
From:Blau,Gary on behalf of DOR DLS Law
Sent: Wednesday,May 18,20112:17 PM
To:'Chisholmr Barbara'
Subject: 2011-589- Sudbury-OPEB Trust Document
Barbera:
As we discussed,,I do not believe it necessary for the town to draft a"Imst document"to
place money in an OPEB Trust under M.G.L.c.32B, §20,if that provision has been
accepted by the town. But as we also discussed,it appears that Sudbury did not accept
that provision but sought a special act to establish a Post Employment Health Insurance
Liability Fund,which was enacted in 2006 as Chapter 72 of that year. That set may be
found at htto/lyr mgLegiplatiire.gov/l,aws/Sessionlaws/Actst2OO6/Chanter72. You
may wish to consult with town counsel and the town manager about the scope of the fund
and how the fund may be used in future years to cover the town's legal responsibility to
pay for its share of retiree health insurance. For example,both the Chapter 32B, §20
OPEB trust and Sudbury's special act require an actuarial study,which will provide a
reasoned estimate of the amounts needed to be appropriated to the fund over a reasonable
period of time in order to meet the towns future retiree health insurance obligations,and
® 71
at least in Sudbury's case limit the appropriations that may be made to the amount of the
total actuarial liability. Periodic updates to that study will also need to be made to ccount
for actual experience and variances in the factors assumed in conducting the study.
I hope this addresses your concerns.
Gary A.Blau,Tax Counsel
Bureau of Municipal Finance Law
PO Box 9569
Boston,MA 02114-9569
617-626-2400
blau@dm.state.ma.us
This e-mail response is intended to provide general information about the application of
municipal tax and finance laws and Department of Revenue policies and procedures. It is
not a public written statement, as defined in 830 CMR 62C.3,1,and does not state the
official position of the Department on the interpretation of the laws pertaining to local
taxes and finance. It should be considered informational only.
From: Chisholm,Barbara[mailto:ChisholmB@sudbury.ma.us]
Sent: Wednesday,May 18,2011 12:00 PM
To: DOR DLS Law •
Subject: RE: OPEB Trust Document
Hello,
At our ATM this year an article was passed to transfer over a million dollars into OPEB
Trust. Do we need trust documents or will the language in 32B s.12 satisfy the trust
requirement?
Thank you,
Barbara
Barbara Chisholm
Town Accountant
Town of Sudbury
278 Old Sudbury Road
Sudbury, MA 01776
978-639-3319 phone
978-443-8430f=
chisholmb@sudbury.ma.ur
•
72
O
Email Response 2009-1278—Retiree Health Insurance Fund
From:Hinchey, Christopher M on behalf of DOR DLS Law
Sent:Monday,October 05,2009 8:50 AM
To:'GiustiHingston00@wI-ccm'
Subject:2009-1278 RE:Retiree Health Insurance Fond
GL C.32B §20(a local acceptance provisions added by CM of the Acts of 2008)
authorizes the creation by municipalities of trust funds for their OPEB liabilities. Once
the provision has been accepted by a municipality,the acceptance cannot be rescinded
(see the lest sentence of C.32B U0 . See also the brief note on C.479 in our Bulletin
2009-SB,"2008 Legislation.'
I don't know whether the creation of an OPEB fund under C.32B §20 would satisfy the
GASB criteria or not.
Chris Hinchey Tax Counsel
Bureau of Municipal Finance Law
PO Box 9569
Boston,MA 02114-9569
617-626-2400
dlslaw(uldor state ma.us
This e-mail response is intended to provide general information about the application of
municipal tax and fiaance laws and Department of Revenue policies and procedures. It is
not a public written statement,as defined in 830 CMR 62C.3.1,and does not state the
official position of the Department on the interpretation of the laws pertaining to local
taxes and finance. It should be considered informational only.
From: GiustillingstonCoQeol.wm[mailto:GWstiHingstonCo( WI-ccmt
Sent: Friday,October 02,2009 9:10 AM
To:DOR DLS Law
SubjeM:Retiree Health Insurance Fund
Hi Chris,
I hope all is well with you.I have a quick question regarding legislation pertaining to an
investment vehicle for retiree health insurance funds.Has anything been passed on that
(i.e. irrevocable trust). Is anything pending. I have a lot of Towns that want to do some
funding. Some are putting it in a separate stabilization fund,but since it is not irrevocable
and subject to the Town's creditors it is not considered truly funded by the GASB.Our
notes to the financial statements will still show zero funding related to the unfunded
liability.
As usual,thanks Chris.
Take care,Dick
col 73
Email Response 2009-1278—Retiree Health Insurance Fund
From: Hinchey,Christopher M on behalf of DOR DLS Law
Sent:Monday,October 05,2009 8:50 AM
To: 'GiusdHingstonCo@aol.com'
Subject:2009-1278 RE:Retiree Health Insurance Fund
GL C.32B §20(a local acceptance provisions added by 0.479 of the Acts of 2008)
authorizes the creation by municipalities of trust funds for their OPEB liabilities. Once
the provision has been accepted by a municipality,the acceptance cannot be rescinded
(see the last sentence of C.328 4101. See also the brief note on C.479 in our B Iletin
2009-813,"2008 Legislation."
I don't know whether the creation of an OPEB fund under C.3213 §20 would satisfy the
GASB criteria or not.
Chris Hinchey Tax Counsel
Bureau of Municipal Finance Law
PO Box 9569
Boston,MA 02114-9569
617-626-2400
dlslawAdor state ma us
This e-mail response is intended to provide general information about the application of •
municipal tax and finance laws and Department of Revenue policies and procedures. It is
not a public written statement,as defined in 830 CMR 62C.3.1,and does not state the
official position of the Department on the interpretation of the laws pertaining to local
taxes and finance. It should be considered informational only.
From: GiustiHingsmnCo@aol.com[maillo:GivaiHingstonCo@aoI.wm]
Sent: Friday,October 02,2009 9:10 AM
To: DOR DLS Law
Subject:Retiree Health Insurance Fund
Hi Chris,
I hope all is well with you. 1 have a quick question regarding legislation pertaining to an
investment vehicle for retiree health insurance funds.Has anything been passed on that
(i.e. irrevocable trust). Is anything pending. I have a lot of Towns that want to do some
funding. Some are putting it in a separate stabilization fund,but since it is not irrevocable
and subject to the Town's creditors it is not considered tmly funded by the GASB.Our
notes to the financial statements will still show zero funding related to the unfunded
liability.
As usual,thanks Chris.
Take care,Dick
•
73
To: Vincent Cameron
From: Energy Services
Date: January 11, 2013
Subject: Purchase Power Summary—November, 2012
Energy Services Division(ESD) has completed the Purchase Power Summary for the
month of November,2012.
ENERGY
The RMLD's total metered load for the month was 55,095,031 kWh,which is a 1.30%
increase from the November, 2011 figures.
Table 1 is a breakdown by source of the energy purchases.
TABLE 1
%of
Amount or Coat of Total Total$ 8 as a
Resource Energy Energy Energy Costs %
(kWh) ($/Mwh)
Millstone
p3 3,593,293 0.99 6.53% $25,108 0.91%
Seabrook 5,640,459 $8.12 10.25% 645,825 167%
Stanybrook Intermediate 1,936,986 $80.45 3.52% $155,836 568%
JP Morgan 8,731,980 $66.06 15.88% 8489,544 17.84%
Ne4Era 5,406,000 $51.41 9.83% $277,912 10.12%
NYPA 1,820,383 $4.92 3.31% $8,956 0.33%
ISO Interchange 7,960,207 $59.06 1448% $470,139 17.13%
NEMA Congestion 0 Moo 0.00% $150 a01%
Coop Resales 111,401 $138.92 0.20% $15,476 0.56%
MacOuarie 17,780,000 $5961 32.33% $1,059,787 38.61%
Summit Hydra 665,109 $53.44 1.21% $35,541 1.29%
Braintree Watson Unit 633,634 $113.37 1.15% $71,836 2.62%
Swift River Projects 708,492 $125.18 129% $88,692 3.23%
Stonybrook
Peaking 0 $0.00 0.00% $16 0.00%
Monthly Total 54.987,9" $49.92 100.00% $2,744,817 100.00%
ATTACHMENT
Table 2 breaks down the ISO interchange between the DA LMP Settlement and the RT •
Net Energy for the month of November, 2012.
Table 2
Amount Cost % of Total
Resource of Energy of Energy Energy
(kWh) ($/Mwh)
ISO DA LMP" 8,668,344 57.59 15.76%
Settlement
RT Net Energy " -708,137 41.02 -1.29%
Settlement
ISO Interchange 7,960,207 59.06 14.48%
(subtotal)
`Independent System Operator Day-Ahead Locational Marginal Price
"Real Time Net Energy
CAPACITY
The RMLD hit a demand of 102,944 kW, which occurred on November 27, at 6 pm. The
RMLD's monthly UCAP requirement for November, 2012 was 211,731 kWs.
Table 3 shows the sources of capacity that the RMLD utilized to meet its requirements. •
Table 3
Source Amount(k Ws) Cost($/kW-rrpnth) Total Cost$ %of Total Coat
Millstone#3 4,991 51.71 $258,081 16.71%
Seabrook 7,742 51.02 $395,002 25.57%
Stonybrook Peaking 24,981 1.99 $49,768 3.22%
Stonybrook CC 42,925 3.84 $165,041 1068%
NYPA 4,019 3.57 $14,347 0.93%
Hydro Quebec 4,584 5.48 $25,129 1.63%
Nextera 60,000 5.50 $330,000 21.36%
Braintree Watson Una 10,520 10.64 $111,951 7.25%
ISO-NE Supply Auction 51,969 3.76 $195,553 12,66%
Total 211,731 $7.30 $1,544,873 100.00%
•
Table 4 shows the dollar amounts for energy and capacity per source.
Table 4 Cost Of
%of Amt of Energy Pourer
Resource Energy Capacity Total cost Total Cost (kWh) (&kWh)
Millstone 03 $25,108 $258,081 $283,190 6.60% 3,593,293 0.0788
Seabrook $45,825 $395,002 $440,827 10.28% 5,640,459 0.0782
Stonybroek Intermediate $155.836 $165,041 $320,878 7.48% 1.936,986 0.1657
Hydro Quebec $0 $25,129 $25,129 0.59% - 0.0000
JP Morgan $489.544 $0 $489,544 11.41% 8,731,980 0.0561
NextEra $277.912 $330,000 $607,912 14.17% 5,406,000 0.1125
e WPA $8,956 $14,347 $23,303 0.54% 1,820,383 0.0128
ISO Interchange $470,139 $195,553 $665,692 15.52% 7,960,207 0.0835
Name Congestion $15D $0 $150 0.00% - 0.0000
MacQuane $1,059,787 $0 $1.059,787 24.71% 17.780,000 0,05%
e Summit Hydro $35,541 $0 $35,541 0.83% 665.109 0.0534
Braintree Watson Unit $71,836 $111,951 $183,787 428% 633,634 0.2901
e Swift Riser Projects $88,692 $0 $88,692 2,07% 708,492 0.1252
Coop Resales $15.476 $0 $15,476 a36% 111.401 0.1389
Stonybrook Peaking $16 $49768 $49.784 1.16% - 0.0000
Monthly Total $2,744,817 $1,544.873 $4,289.690 100.00% 54.987,944 0.0780
w Renewable Resources 5.81%
® RENEWABLE ENERGY CERTIFICATES (REC$)
The RMLD's Renewable Energy Certificates through the month of September, 2012 have
an estimated market value of$610,945, based on market prices as of January 10, 2012.
Table 5 shows the amount of banked and projected RECs for the Swift River Hydro
Projects, as well as the estimate market value.
Table 5
Swift River RECs Summary
Period- January - November 2012
Banked Projected Total at.
RECs REG; REcs Dollars
Wor.no. 6,830 394 7,224 $279,306
Pepperell 3679 384 4063 $215A46
Indian INer 2100 92 2192 $116,193
Turners falls 750 0 750 $o
Grand tetai 13,359 070 14,230 $610,945
TRANSMISSION •
The RMLD's total transmission costs for the month of November were $601,231. This is
a decrease of 28.92%from the October transmission cost of$845,905. In November,
2011 the transmission costs were$602,077.
Table 6
Current Month Last Month Last Year
Peak Demand(M) 102,944 95.566 99.164
Energy(kWh) 54,987,944 56.606.524 54,461,222
Energy($) $2,744,817 $2,595,375 $2,643,246
Capacity($) $1,544,873 $1,386,975 $1,424,634
Transmission($) $601,231 $845,905 $602,077
Total $4,890.921 $4,828.255 $4.669,957
e
•
•
To: Vincent Cameron
From: Energy Services
Date: January 23, 2013
Subject: Purchase Power Summary—December,2012
Energy Services Division(ESD) has completed the Purchase Power Summary for the
month of December, 2012.
ENERGY
The RMLD's total metered load for the month was 59,255,207 kwh, which is a .37%
increase from the December, 2011 figures.
Table I is a breakdown by source of the energy purchases.
TABLE t
Q %o
Amount of Cost of Total Total g $as a
Resource Energy Energy Energy Costs %
(kWh) ($IMwh)
Millstone
k3 3.710,760 $6.99 6.25% $25,930 0.90%
Seabrook 5,819,826 $8.32 9.80% $48,409 1.69%
Stonybrook Intermediate 740,281 $66.79 1.25% $49,444 1 72%
JP Morgan 9,151,000 $55.77 15.41% $510,342 1779%
NeMEra 9,877,000 $59.12 16.64% $583,919 20.35%
NYPA 2.108,635 $4.92 3.55% $10,374 0.36%
ISO Interchange 7,398,010 $56.40 12.46% 5417,265 14.55%
NEMA Congestion 0 $0.00 0.00% 5701172 .3.60%
Coop Resales 93,526 $131.80 0.16% $12,327 0.43%
MacOuarie 18,080,000 $61.72 30.46% $1,115.962 38.90%
Summit Hydro 930,182 $55.31 1.57% $51,446 1.79%
Braintree Watson Unit 183,026 $105.32 0.31% $19,277 0.67%
Swift River Projects 1,272,666 $99.92 2.14% $127.170 4.43%
Stonybrook
Peaking 0 $0.00 0.00% $21 0.00%
Monthly Total 59,364,911 $48.32 100.00% $2,868.713 100.00%
Table 2 breaks down the ISO interchange between the DA LMP Settlement and the RT •
Net Energy for the month of December, 2012.
Table 2
Amount Cost % of Total
Resource of Energy of Energy Energy
(kWh) ($/Mwn)
ISO DA LMP ` 8,600,742 54,92 14,49%
Settlement
RT Net Energy " -1,202,732 45.81 -2.03%
Settlement
ISO Interchange 7,398,010 56.40 12.46%
(subtotal)
Independent System Operator Day-Ahead Locational Marginal Price
Real Time Net Energy
CAPACITY
The RMLD hit a demand of 108,921 kW, which occurred on December 17, at 6 pm. The
RMLD's monthly UCAP requirement for December, 2012 was 211,827 k Ws.
Table 3 shows the sources of capacity that the RMLD utilized to meet its requirements.
Table 3
Source A=unt(kWa) Cost($/kW-month) Total Coat$ %of Total Coal
Mllstone#3 4,991 51.67 $257,900
Seabrook 16.87%
7,742 51.02 $395,023 25.85%
Stonybrook Peaking 24,981 1.82 $45,580
Stonybrook CC 42,925 2.98%
NYPA 3.70 $159,018 10.40°/.
4,019 3.57 $14,347 0.94%
Hydro Quebec 4,584 4.39 $20,139
Ne>tera 60,000 5.50 $330,000 21.59%
7.59%
Braintree Watson Unit 10,520 10.40 g109,458
ISO-NE Supply Auction 52,085 2.18%
3.78 $196,900 12.68%
Total 211,827 $7.22 $1,528,363
100.00
•
Q Table 4 shows the dollar amounts for energy and capacity per source. -
Table 4 Coat of
%of And of Energy Power
Resource Energy Capacity Total cost Total Cost (kWh) (SlkWh)
Millstone#3 $25.930 $257,900 528$830 6.45% 3,710,760 0.0765
Seabrook 548.409 $395.023 $443,432 10.08% 5.819,826 0.0762
Stomybrook Intermediate 549.444 $159.016 $208.460 474% 740,281 0.2816
Hydro Quebec $0 $20,139 $20.139 0.46% - 0,0000
JP Morgan $510,342 $0 $510.342 11.61% 9,151,000 0.0558
NextEra $583,919 $330,000 $913,919 20.78% 9,877,000 0.0925
4 NVPA $10,374 $14,347 $24,722 0.56% 2,919635 0.0117
ISO Interchange 5417,265 $196.900 5614,165 13.97% 7,398,010 0.0830
Nema Congestion 4103,172 $0 -$103,172 -2.35% - 0.0000
MacOuade $1,115,962 $0 $1,115,962 25.38% 18,080,000 OA817
a Summit Hydro $51,446 $0 $51,446 1.17% 930,182 0.0553
Braintree Watson Unit $19.277 $109458 $128,734 2.93% 183,026 0.7034
~ Swift River Projects $127,170 $0 $127,170 2.89% 1,272.665 0.0999
Coop Resales $12,327 $0 $12,327 0,28% 93.526 0.1318
Stonybrook Peaking $21 545,580 545,601 1.04% - 0.0000
Monthly Total $2,868,713 $1,528,363 $4,397.075 100.00% 59,364,911 0.0741
' Renewable Resources 7.26%
RENEWABLE ENERGY CERTIFICATES (RECs)
The RMLD's Renewable Energy Certificates through the month of September, 2012 have
an estimated market value of$610,945, based on market prices as of January 10, 2013.
Table 5 shows the amount of banked and projected RECs for the Swift River Hydro
Projects, as well as the estimate market value.
Table 5
Swift River RECs Summary
Period - January - December 2012
Banked Projected Total at.
RE6 Rica RECs poRvs
Woronoca 6.830 394 7,324 5179,306
Pepperell 3679 384 4063 $115,445
Indian River 2100 92 3193 $116,193
Turners Falb 750 0 750 $0
Grand Total 13,359 870 14,330 $610,945
TRANSMISSION •
The RMLD's total transmission costs for the month of December were $738,628. This is
an increase of 23% from the November transmission cost of$601,231. In December,
2011 the transmission costs were $621,443.
Table 6
Current Month Last Month Last Year
Peak Demand(kW) 108921
102,944 108.371
Energy(kWh) 59,360,911 54,98],9,{ 59,123,502
Energy($) $2,868,713 $2,]44,81]
$2,968,91]
Capacity(s) $1,528,363
$1,544,873 $1,397.529
Transmission($) $738,628
$601 231 $621,443
Total $5,135.703
$4,890,921 $4,987,889
! ; " -
� { . /
! ! � „ � ° K ■ ■ K # # #
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-
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READING MUNICIPAL LIGHT DEPARTMENT
FY 13 CAPITAL BUDGET VARIANCE REPORT
FOR PERIOD ENDING NOVEMBER 30,2012
ACTUAL YTD ACTUAL ANNUAL
COST COST BUDGET REMAINING
N PROJECT DESCRIPTION TOWN NOVEMBER THRU 11130112 AMOUNT BALANCE
ESO Construct onS"Wro Projects
1 Essex Street-Reconductonng LC 200 197,855 197.655
2 4W13 OH Reconductoring-West Street W 2,231 7,653 188,193 180,540
3 Upgrading of Old Lynnfeld Center URDs (Partial CARRYOVER) LC 15,813 121,155 492,143 370,980
5 Shady Lane Area-Reconduclaring W 9,740 9,924 199,042 189,118
6 Federal Street-Reoonduclodng W 863 175,565 174,702
Total System Projects
Station UPQ.des
station N4
8 Relay Replacement Project-(Partial CARRYOVER) R 119,309 119,309
9 Station 4 Getaway Replacement-4W13 R 4,430 161,779 157,349
Total Station Projects
SCADA Protects
10 Station 5 RTU(Remote Terminal Unit)Replacement W 58,163 56,163
4 Station 4 RTU(Remote Terminal Unit)Replacement(Partial CARRYOVER) R 4,487 23,196 80.653 57,457
Total SCADA Projects
New Customer Service Connections
12 Service Installations-Commercial/Industrial Customers ALL 478 6,574 63,074 56,500
13 Service Installations-Residential Customers ALL 19,602 90,063 207,923 117,060
Total Service Connections
111im6 Routine Construction
Various Routine Ceniruclion ALL 226,365 937,349 988.211 50,862
Total Construction Projects 278,717 1,201,408 2,929,910 1,728,502
Other Pro acts
15 GIS 7,506 39,845 97,495 57,650
16 TransfonnerslCapaciturs Annual Purchases 142,924 284,000 141,076
17A Meter Annual Purchases 49.710 49.710
178 Meter Upgrade Project-(Partial CARRYOVER) 58,831 419,946 564,416 144469
17C Meter Upgrade Project-Commercials 551,853 551,853
18 Purchase Vehicles 65,000 65,000
19 Purchase Line Department Vehicles 474,861 570.000 95,139
20 Purchase New Pole Dolly 12,000 12,000
21 Automated Building Systems 150,000 150,000
22 Engineering Analysis software 8 date conversion-(CARRYOVER) 76,789 76.789
23 Gow Station Generator 55,000 55,000
24 Capital Repairs-Station One 400,000 400,000
25 New Carpeting 35,000 35,000
26 Water Heater Demand Response Technology 189,990 336,611 146,621
27 Hardware Upgrades 27,273 52,049 126,629 74,580
28 Software and Licensing 48.569 119.002 70.433
Total Other Projects 93.610 1366184 3493505 2,125,321
TOTAL FY 13 CAPITAL PROJECT EXPENDITURES 372.327 2,669,592 6,423,416 3,853,823
ATTACHMENT 4
Reading Municipal Light Department
Engineering and Operations
Monthly Report
November 2012
FY 2013 Capital Plan
E&O Construction-System Proiects
1 Reconductoring of Essex Street, Lynnfield Center- No Activity.
2 4W13 OH Reconductoring Project, West Street,Wilmington- Engineering Labor:
Checking upgrade.
3 Upgrading of Old Lynnfield Center URDs- (Phase 1 Completed)
Engineering Labor: Work on plans for next area. Materials received.
5 Shady Lane Drive Area, Wilmington - Reconductoring - Engineering Labor: Area
upgrade and redesign. Line Department: Framing and make-ready work for new 1/0
primary and 4/0 secondary cable.
6 Federal Street, Wilmington- Reconductoring - No activity.
Station Upgrades
8 Station 4 Relay Replacement Project- Reading- No activity.
9 Station 4 Getaway Replacement-4W13 - No activity.
SCADA Proiects
10 Station 5 RTU Replacement, Wilmington - No activity.
4 Station 4 RTU Replacement- Senior Tech Labor:cut in wiring.
New Customer Service Connections
12 Service Installations-Commercial/Industrial Customers-This item includes new
service connections, upgrades, and service replacements for the commercial and
industrial customers. This represents the time and materials associated with the
replacement of an existing or installation of a new overhead service, the connection of
an underground service, etc. This does not include the time and materials associated
with pole replacements/installations, transformer replacements/installations, primary or
secondary cable replacements/installations, etc.This portion of the project comes
under routine construction. Engineering Labor.., Two new commercial locations.
January 14,2013
13 Service Installations—Residential Customers—This item includes new or
upgraded overhead and underground services, temporary overhead services, and
large underground development.
Routine Construction:
14 Routine Construction—The drivers of the Routine Construction budget category
YTD are listed. This is not an inclusive list of all items within this category.
Pole SattinQyTransfers $148,873
Maintenance Overhead/Unde round $205,113
Projects Assi ned as Required $152,321
Pole Damage includes knockdowns some reimbursable $59,394
Station Group $14,199
Hazmat,'OU Spills $0
Porcelain Cutout Replacement Program* $0
Lighting( Street Light Connections $13,418
Storm Trouble $106,187
Underground Subdivisions $42,470
Animal Guard Installation
Miscellaneous C $27 849
ital Costs $$27,525
TOTAL $937,349 •
In the month of November, zero (0) cutouts were charged under this program.
Approximately 9 cutouts were installed new or replaced because of damage making a
total of 9 cutouts replaced this month.
January 14,2013
2
® Reliability Report
Two key industry standard metrics have been identified to enable the RMLD to measure and track
system reliability. A rolling 12-month view is being used for the purposes of this report.
Customer Average Interruption Duration Index(CAIDI) measures how quickly the RMLD
restores power to customers when their power goes out.
CAIDI =Total of Customer Interruption Duration for the Month in Minutes/rotal number of
customers interrupted.
RMLD 12 month system average outage duration: 64.05 minutes
RMLD 4 year average outage (2006-2009): 50.98 minutes per outage
On average, RMLD customers that experience an outage are restored in 64.05 minutes.
120.00
N 100.72
100.00 W.89
C 78.30 A A Tl RR
80.00 Me
t
M 4-17.05
( O 60.00 2
v
v
E 40.00
0
N
tj 20.00
0.00 ^ R, ti ti ti M1 ti h ti ti ti ti
�.Qr has �� �a� °K Dov �� �� Op mos
—�Monthly rNnutes per outage
• RMLD 12 month system average outage tlura0on 64.05
RMLD 4 ear avers out a duration 50.98 2006.2009
January 14,2013 3
System Average Interruption Frequency(SAIFI)—Measures how many outages each
customer experiences per year on average.
SAIFI =Total number of customer's interrupted!Total number of customers.
RMLD 12 month system average: 0.33 outages per year
RMLD 4 year average outage frequency: 0.82
The graph below tracks the month-by-month SAIFI performance.
0.90 0-84
0.80
0.70 0.69
m
'u
0.60
C
`0 0.50
0.40 0.39
v
v 0.30 ..
21
0.20 J 01
tt
0.10 •
0.00
-- RMLD monthly outage frequency
RMLD 12 month system average outage frequency.33
L_j RMLD 4 year average outage frequency 82(2006-2009)
Months Between Interruptions (MBTI)
Another view of the SAIFI data is the number of months Reading customers have no
interruptions. At this time,the average RMLD customer experiences an outage approximately
every 36 months.
•
January 14,2013 4
1/24/2013 READING MUNICIPAL LIGHT DEPARTMENT
10:51 AM FY 13 CAPITAL BUDGET VARIANCE REPORT
FOR PERIOD ENDING DECEMBER 31,2012
ACTUAL YTDACTUAL ANNUAL
COST COST BUDGET REMAINING
# PROJECT DESCRIPTION TOWN DECEMBER THRU 12/31112 AMOUNT BALANCE
E&O Construction4Ivstem Prolects
1 Essex Street-Recooductoring LC 200 197,855 197,655
2 4W13 OH Reconductoring-West Street W 5,042 12,695 188,193 175,498
3 Upgrading of Old Lynn0eld Center URDs (Pamal CARRYOVER) LC 121.155 492.143 370,988
5 Shady Lane Area-Recondudoring W 23,608 33,532 199,042 165,510
6 Federal Street-Recondudoring W 863 175,565 174,702
Total System Projects
Station Upgrades
Station#4
8 Relay Replacement Project-(Partial CARRYOVER) R 119,309 119,309
9 Station 4 Getaway Replacement.4W13 R 4,430 161,779 157,349
Total Station Projects
SCADA Projects
10 Station 5 RTU(Remote Terminal Unit)Replacement W 56,163 56,163
4 Station 4 RTU(Remote Terminal Unit)Replacement(Partial CARRYOVER) R 95,537 118.733 80,653 (38,080)
Total SCADA Projects
New Customer Service Connections
12 Service Installations-Commerdapindustrial Customers ALL 6,574 63,074 56,500
13 Service Installations-Residential Customers ALL 15.572 108,635 207,923 99,288
Total Service Connections
-14 Routine Construction
Various Routine Contrudion ALL 91,867 1,029,216 988.211 (41.005)
Total Construction Projects 234,626 1,436034 2,929.910 1,493,876
Other Protects
15 GIS 6,366 46,211 97,495 51,284
16 Transformers/Capacitors Annual Purchases 142,924 284,000 141,076
17A Meter Annual Purchases 54,141 54,141 49,710 (4,431)
1713 Meter Upgrade Project-(Partial CARRYOVER) 13.136 433,082 564,416 131,333
17C Meter Upgrade Project-Commercials 118,871 118.871 551,853 432,982
18 Purchase Vehicles 65,000 65.000
19 Purchase Line Department Vehicles 474,861 570,000 95,139
20 Purchase New Pole Dolly 12,000 12,000
21 Automated Building Systems 150,000 150,000
22 Engineering Analysis software 8 data conversion-(CARRYOVER) 76,789 76,789
23 Gaw Station Generator 55,000 55,000
24 Capital Repairs-Station One 400,000 400,000
25 New Carpeting 35,000 35,000
26 Water Heater Demand Response Technology 624 190,614 336,611 145,997
27 Hardware Upgrades 52,049 126,629 74.580
28 Software and Licensing 16,234 64803 119,002 54,199
Total Other Projects 209,371 1,577,556 349]505 1,915,949
TOTAL FY 13 CAPITAL PROJECT EXPENDITURES 443,997 3,013,590 6,423,416 3,409,825
Reading Municipal Light Department
Engineering and Operations
Monthly Report
December 2012
FY 2013 Capital Plan
E&O Construction -System Proiects
1 Reconductoring of Essex Street, Lynnfield Center- No Activity.
2 4W13 OH Reconductoring Project, West Street, Wilmington - Engineering Labor:
Checking upgrade. Line Department: Poles delivered and set.
3 Upgrading of Old Lynnfield Center URDs - (Phase 1 Completed). No Activity.
5 Shady Lane Drive Area, Wilmington - Reconductoring - Line Department:
Continued make-ready work. Installed poles, and primary and secondary cable
6 Federal Street, Wilmington - Reconductoring - No activity.
Station Upgrades
S Station 4 Relay Replacement Project- Reading- No activity.
9 Station 4 Getaway Replacement- 4W13- No activity.
SCADA Proiects
10 Station 5 RTU Replacement, Wilmington - No activity.
4 Station 4 RTU Replacement- Engineering and Senior Tech labor.
New Customer Service Connections
12 Service Installations-Commercial/Industrial Customers-This item includes new
service connections, upgrades, and service replacements for the commercial and
industrial customers. This represents the time and materials associated with the
replacement of an existing or installation of a new overhead service, the connection of
an underground service, etc. This does not include the time and materials associated
with pole replacements/installations, transformer replacements/installations, primary or
secondary cable replacements/installations, etc. This portion of the project comes
under routine construction. No Activity.
January 24,2013
13 Service Installations—Residential Customers—This item includes new or •
upgraded overhead and underground services, temporary overhead services, and
large underground development.
Routine Construction:
14 Routine Construction—The drivers of the Routine Construction budget category
YTD are listed. This is not an inclusive list of all items within this category.
Pole SettinglTransfers $188,739
Maintenance OverheadNnde round $204,596
Pro'ects,Assigned as Required $187,526
Pole Damage includes knockdowns some reimbursable $59,971
Station Group $14,199
Hazmat1011 Spills $0
Porcelain Cutout Re lacement Pro ram" $0
Li htin Street Light Connections $15,791
Storm Trouble $121,580
Underground Subdivisions $43,068
Animal Guard Installation $30,304
Miscellaneous Capital Costs $163,441
TOTAL $1,029,216 •
'In the month of December, zero (0) cutouts were charged under this program.
Approximately 18 cutouts were installed new or replaced because of damage making a
total of 18 cutouts replaced this month.
•
January 24,2013 2
Reliability Reoort
Two key industry standard metrics have been identified to enable the RMLD to measure and track
system reliability. A rolling 12-month view is being used for the purposes of this report.
Customer Average Interruption Duration Index(CAIDI) measures how quickly the RMLD
restores power to customers when their power goes out.
CAIDI =Total of Customer Interruption Duration for the Month in Minutes a Total Number
of Customers Interrupted.
RMLD 12-month system average outage duration: 60.68 minutes
RMLD tour-year average outage (2006-2009): 50.98 minutes per outage
On average, RMLD customers that experience an outage are restored in 60.68 minutes.
120.00
W 100.72
100.00
88.89
78.30
80.00 A 71 PA
d
84
0 57.05
O60.00 2
-
E 40.00 NP qoe�
0
U
20.00
0.00
e�-% O'dNil
a^'L
PQ�'L 'ea ry ��`�`� $^'� 3y'•,b �•,`L ^`L o�`L ,,ct^`L
Monthly minutes per outage
-� RMLD 12 month system average outage duration 60.68
RMLD 4 year average outage duration 50.98(2006-2009)
January 24,2013 3
System Average Interruption Frequency(SAIFI)—Measures how many outages each
customer experiences per year on average.
SAIFI =Total Number of Customers Interrupted +Total Number of Customers
RMLD 12-month system average: 0.32 outages per year
RMLD four-year average outage frequency: 0.82
The graph below tracks the month-by-month SAIFI performance.
0.90 0.84
0.80
N
0.70 0.69
�
a+
0.60
c
u 0.50
�t 0.40 0.39
c
d
Q 0.30
0.21 •
U- 0.20 7 01 .19
All
0.10
0.00
�ry �ry ery sry .,'L sry {L �ry �ry s`� �ry ^ry
Or?
—�-RMLD monthly outage frequency
F _• RMLD 12 month system average outage frequency.32
RMLD 4 year average outage frequency .82(2006-2009)
Months Between Interruptions(MBTI)
Another view of the SAIFI data is the number of months RMLD customers have no interruptions.
At this time, the average RMLD customer experiences an outage approximately every 38
months.
•
January 24,2013 4
Dt: January 4, 2013
To: RMLB, Vincent F. Cameron,Jr.,Jeanne Foti
Fr: Bob Fournier
Sj: November 30, 2012 Report
The results for the first five months ending November 30, 2012, for the fiscal year
2013 will be summarized in the fallowing paragraphs.
1) Change in Net Assets: (Page 3A)
For the month of November,the net loss or the negative change in net assets was
$143,065, decreasing the year to date net income to $1,684,348. The year to date
budgeted net income was $1,683,855, resulting in net income being over budget
by $493 or .03%. Actual year to date fuel expenses exceeded fuel revenues by
$347,279.
2) Revenues: (Page 11 B)
Year to date base revenues were under budget by $618,846 or 2.97%. Actual
base revenues were $20.2 million compared to the budgeted amount of$20.8
million.
3) Expenses: (Page 12A)
•Year to date purchased power base expense was under budget by $1,104,269 or
8.32%. Actual purchased power base costs were $12.2 million compared to the
budgeted amount of$13.3 million.
'Year to date operating and maintenance (O&M) expenses combined were over
budget by $104,728 or 2.1%. Actual O&M expenses were $5.1 million compared
to the budgeted amount of$5.0 million.
"Depreciation expense and voluntary payments to the Towns were on budget.
4) Cash: (Page 9)
*Operating Fund was at $10,590,145.
' Capital Fund balance was at$3,596,243.
. Rate Stabilization Fund was at $6,685,766.
• Deterred Fuel Fund was at $1,922,765.
' Fnergy Conservation Fund was at$187,067.
5) General Information:
Year to date kwh sales (Page 5) were 313.616,870 which is 3.4 million kwh or
1.1%, ahead last year's actual figure. GAw revenucS collected vtd were
$313,475 bringing the total collected since inception to $1,610,560.
• 6) Budget Variance:
Cumulatively, the five divisions were over budget by $111,457 or 1.38%.
ATTACHMENTS
FINANCIAL REPORT
NOVEMBER 30, 2012
ISSUE DATE : JANUARY 4, 2013
TOWN OF READING, MASSACHUSETTS
MUNICIPAL LIGHT DEPARTNENT
BUSINESS-TYPE PROPRIETARY POND
STATEMENT OP NET ASSETS
11/30/1]
PREVIOUS YEAR CORRINS YEAR
ASSETS
CURRENT
UNRESTRICTED CASH (SCH A P.9) 8,537.196.66 10,593,165.63
RESTRICTED CASH (SCH A P.9) 1],80].65].]3 19,233.556.65
RESTRICTED INVESTMENTS (SCM A P.9) 1,200,000.00 0.00
RECEIVABLES, NET (SCM 8 P.10) 7,97S,189.04 7,533,324.38
PREPAID EXPENSES (SCM B P.30) $61.012.10 11983,183.81
INVENTORY 1,536,156.86 11159,589.10
TOTAL CURRENT ASSETS 38.895.010.16 60.802.798.37
NONCURRENT
INVESTMENT IN ASSOCIATED CO (SCM C P.3) ]3,]65.66 16,958.35
CAPITAL ASSETS. NET (SCH C P.3) 67,501,511.59 69,713,161.08
TOTAL NONCURRENT ASSETS 61,575,]77.]5 69,760,131.63
TOTAL ASSETS 106,1)0.]$7.71 110.563,920.80
LIABILITIES
CURRENT
ACCOUNTS PAYABLE 5,687,361.29 6,934,635.38
CUSTOMER DEPOSITS 593,]]8.89 615,760.63
CUSTOMER ADVANCES FOR CONSTRUCTION 338,075.51 391,781.15
ACCRUED LIABILITIES 1,320,183.70 1,386,139.86
TOTAL CURRENT LIABILITIES ].8]8.199 A] 9.361.596.81
NONCURRENT
ACCRUED EMPLOYEE COMPENSATED ABSENCES 2.931,699.58 ],98],915.76
TOTAL NONCORREHT LIABILITIES 3.931.698.58 2.982.915.76
TOTAL LIABILITIES 10.]63.098.00 13.366.512.57
NET ASSETS
INVESTED IN CAPITAL ASSETS. NET OF RELATED DEBT 57,501,511.S9 69,713,166.08
RESIST CTEO FOR DEPRECIATION POND (P.9) 1,361,393.99 3.596.243.51
UNRESTRICTED 23,841,296.23 31.909,000.61
TOTAL NET ASSETS (P.3) 95 tOt 189.]1 98 218108.23
TOTAL LIABILITIES AND NET ASSETS 306.1]0.]87.13 110.562,930.30
TO" OF READING, MASSACHUSETTS
MUNICIPAL LIGHT DEPARTMENT
NONCURRENT ASSET SCHEDULE
11/30/13
SCHEDULE C
PREVIOUS YEAR CURRENT YEAR
SCHEDULE OF INVESTNRNT9 IN ASSOCIATED COMPANIES
NEN ENGLAND HYDRO ELECTRIC 15,747.64 1,975.74
NEW ENGLAND HYDRO TRANSMISSION 581018.03 43,983.61
TOTAL INVESTMENTS IN ASSOCIATED COMPANIES 73.765.66 46.958.35
SCHEDULE OF CAPITAL ASSETS
LAND 1,365,843.33 1.365,843.33
STRUCTURES AND IMPROVEMENTS 6,537,440.54 6,730,277.16
EQUIPMENT AND FURNISHINGS 13,695,774.69 13,941,555.41
INFRASTRUCTURE 46.803.454.13 48.775.489.38
TOTAL CAPITAL ASSETS, NET fi7.5016511.59 69.713.164.08
TOTAL NONCURRENT ASSETS 67575.377.35 69.760.133.43
left
�It
TOM OP RBAOINO, NASSACN098TT9
NONICIPAL LIGHT OBPARTKZMT
BORINRBB-TYPB PROPRIETARY POND
STATBMENT OR R=KRUX8, BIPBN9B8 AND CRANOBB IN POND NBT ABBBTB
kw 1/30/13
NONTN MONTH LAST YEAR CURRENT YEAR YfD
IXFT YGR CURRENT YEAR TO MTN TO OATH CNANOE
OPERATINO REVm1OtS, )BCS D P.11)
BABE REVQIUE 3.340,004.@5 3,519,192.64 20,093,195.92 20,346,378.78 0.76%
ML REVEHOB 2.544.526.70 2,740,129.47 16,538,329.12 15,023,848.06 -9.16%
PURCHASED PONTA CAPACITY 19,670.441 166,OS3.44 (58,930.78) 949,631.67 -1711.44%
IORIEITED DISCOUNT8 81,065.4S 62,571.53 411,653.17 437,768.75 6.09%
ENBRDY COUSERVATION REVEIME 50,109.19 53,950.53 243,757.17 308,777.58 25.64%
DAN REVWUE 50,909.40 54,816.73 310,203.82 313,475.43 1.05%
NTPA CREDIT (47,451.31) 122.566.16) (202.947.29) (234,298.94) -20.73%
TOTAL OPERATING RSVLNUES 6,010,293.67 6,574,146.18 37,250.261.13 31,055,478.09 -0.54%
OPERATING UPENS6S: (SCH E 1.12)
PURCHASED POWER BAER 1.619.641.67 2,141,600.94 10.940,249.03 12,175,141.90 11.39%
PURCMHSD POWER FOAL 2.643,246.46 2,144,517.25 16.440319.05 35,146,029.53 -7.07%
OPERATING 833.317.66 985,894.86 3,695,569.91 4,101,459.72 10.69%
MATNTENANCE 373,465.90 347,131.65 1,292,102.41 1,018,909.90 -21.14%
DEPRECIATION 296,027.41 305,469.15 1,480,131.35 1,527,345.90 3.19%
VOLUNTARY PAYMENTS TO TONNS 113.000.00 114.000.00 565,000.00 570.000.00 0.08%
TOTAL OPERATING EBPENBES 5,979,699.16 6,535,921.93 34.416.577.75 34,S39,766.03 0.36%
OPERATING INCDM 131,594.71 35,226.35 2,541,683.36 1,515,712.06 -11.47%
PERATIND REV6NUE8 (BIPWSEB)
CONTRIBUTIONS IN AID 01 CONST 6,754.75 6,131.20 30,059.74 46,478.95 50.61%
RETURN ON INVE9TIOWT TO READING (183,829.75) (106,765.59) (919,148.75) (943,927.901 2.70%
INTEREST TMCOIQ 2,933.54 3,419.24 40,874.43 14,807.62 -63.77%
INTEREST QPNNSE (511.51) 1257.71) 12,539.91) (1,290.12) -49.21%
DTNER (MDSE AND AMORT) 33,709.00 2,202.00 111,870.35 52,567.63 -53.01%
TOTAL NONOPBRATING RN (EXP) (140 943.97) (174.390.85) (738,076.14) (831,363.62) 12.64%
CILWGE IN NET A98ET9 19.149.361 1141.064.601 2,103,607.24 1,664,348.24 -19.93%
HEI AS98T8 AT BBOINNINO OF YNAR 93,603,542.47 96,534,059.99 3.13%
NET ASSETS AT AM 01 NOVE108A 95.707,189.71 9@.31@.40@.3] 2.62%
TOM OF READING, MASSACHUSETTS
MUNICIPAL LIGHT 08PARINERT •
BUSINESS-TYPE PROPRIETARY FUND
STATININT OF REVENUES, EXPENSES AND CHANGES IN FUND NET ASSETS
11/30/13
ACTUAL BUDGET
YEAR TO DATE YEAR TO DATE VARIANCE• CHANGE
OPERATING REVENUES: (BCH F P.118)
BASK REVENUE 30,246,374.98 30,865,131.00 (618,846.13) -2.97%
FUEL RBVENUE 15,023,849.86 13,947,674.00 1,076,174.86 7.73%
PURCHASED POWER CAPACITY 949,631.67 954,253.00 (4,611.33) -0.48%
FORFEITED DISCOUNTS 437,768.75 459,032.00 (21.363.35) -4.63%
ENERGY CONSERVATION REVENUE 308,777.55 315,013.00 (6.335.45) -1.98%
OAK REVENUE 313,475.42 315,013.00 11.537.581 -0.49%
HYPA CREDIT (334.198.94) (291.665 00) 67466.06 -23.10%
TOTAL OPERATING REVENUES 37,055,478.09 36,564,441.00 491,037.09 1.34%
OPERATING EXPENSES: (SON O P.13A)
PURCHA9B0 POWER BARE 13.175,141.90 13,279,411.00 (1,104.369.10) -8.33%
PURCHASED POWER PURL 15.146,828.53 13,841,284.00 1,305.544.53 9.43%
OPERATING 4,101,459.73 3,961.163.00 140.297.72 3.54%
EAINTSNAECE 1,010,989.98 11054,559.00 (35,569.02) -3.37%
DEPRECIATION 1,537,345.90 1,530,935.00 61510.90 0.43%
VOLUNTARY PAYMENTS TO TOWNS 570.000.00 570.000 00 0.00 0.00%
TOTAL OPERATING EXPENSES 34,539,766.03 34,237,351.00 313,515.03 0.91%
OPERATING INCOME 2,515,712.O6 2,337,190.00 179,533.06 7.64% •
HONOPEEATING REVENUES (EXPENSES)
CONTRIBUTIONS IN AID OF CONST 46.478.95 200,000.00 (153,521.05) -76.76%
RETURN ON INVESTMENT TO READING (943.937.90) (943,750.00) (177.90) 0.02%
INTEREST INCOME 14,807.61 41,665.00 (36,857.38) -64.46%
INTEREST EXPENSE (11390.12) (11250.00) (40.13) 3.21%
OTHER (ROSE AND AMORT) 53,567.63 50,000.00 3,567.63 5.14%
TOTAL NONOPERATING REV (ZXP) 1831.363 9l1 1653.335 001 (178,028,e3) 37.35%
CHANGE IN NET ASSETS 1,684,348.34 1,683,855.00 493.34 0.03%
NET ASSETS AT BEGINNING OF YEAR 96,534,059.99 96,534,059.99 0.00 0.00%
NET ASSETS AT EST OF NOVEMBER 98 218.408.23
98.217.914.99 493.24 0.00%
• 1 ACTUAL UN09R BUDGET
•
I)al
TOW OF READING, MASSACHUSETTS
MUNICIPAL LIGHT DHPARTMeNT
RECONCILIATION OF CAPITAL FUNDS
kv 11/30/12
SOURCE OF CAPITAL PONDS:
DEPRECIATION FUND BALANCE 7/1/12 2,635,205.70
CONSTRUCTION FUND BALANCE 7/1/12 2,000,000.00
INTEREST ON DEPRECIATION FUND P9 13 3,205.10
DEPRECIATION TRANSFER PY 13 1.527,365.90
TOTAL SOURCE OF CAPITAL FUNDS 6,165,036.70
USE OF CAPITAL FUNDS:
LESS PAID ADDITIONS TO PLANT THRU NOVEMBER 2.569.593.17
GENERAL LEDGER CAPITAL FUNDS SALANCS 11/30/12 3,596.263.51
TOM OF READING, MASSACHUSETTS
MUNICIPAL LIGHT DEPARTMENT
SALES OF RILONATT HOURS
11/30/12
MONTH MONTH LAST YEAR CURRENT YEAR VTD
SALES OF ELIMRICITY: LAST YEAR CURRENT YEAR TO DATE TO DATE CHANGE
RESIDENTIAL BALES 27,709,644 18,340,649 114,849,091 117,165,382 2.02%
COMM. AND INDUSTRIAL SALES 30,773,857 33,790,759 182,810,854 183,974,179 0.64%
PRIVATE STREET LIGHTING 72,667 73,305 364,130 365,855 0.47%
TOTAL PRIVATE CONSUMERS 48.556.168 52.]04,71) 290.024.065 301.505.416 1.17%
MUNICIPAL SALES.
STREET LIGHTING 139,112 238.739 11195,380 1,109,123 -0.52%
MUNICIPAL BUILDINGS 720,028 781,469 4,072,777 4,036,325 -0.90%
TOTAL MUNICIPAL CONSUMERS 959.110 1.020.208 5.268.15] 5.225.448 -0.81%
SALES FOR RESALE 195,436 245,977 11562,615 1,577,547 0.96%
SCHOOL 11191,688 1,327.069 5,364,596 5,308.459 -1.05%
TOTAL RILOMATT HOURS SOLD 50.90],43] 51,797,967 310.]19.433 313.636.BJO 1.10%
•
•
pl
TOWN OF READING, MASSACHUSETTS
MUNICIPAL LIGHT DEPARTMENT
F KILOWATT HOURS SOLD BY TOMN
11/30/12
TOTAL READING LYNNPIRLD NO.RRADING WILMINGTON
WORTH
RESIDE2TIAL 18,340,649 5,688,968 2,720,401 4,024,961 51906,319
COMM 6 IND 33,]90,]59 4,232,132 356,979 4,194,648 24,517,000
PPI ST LIOHTS 73,305 13,585 1,360 21,358 37,002
PUB ST LIGHTS 236,739 80,536 32,500 41,176 84,527
HENS BLDGS 781,469 194,385 139,629 144,416 303,039
BALES/RESALE 245,977 245,9]] 0 0 0
SCHOOL 1,327,069 471,564 296,537 166,000 192,968
TOTAL 54.]9].96] 10.91],14] 3.M7.406 9,192.559 11.140.855
YEAR TO DATE
RESIDENTIAL 117,165,382 36,131,364 17,289,635 27,208,043 36,536,350
COMM c ING 183,974,179 22,723,388 1,402,335 20,063,647 131,784,809
PPT ST LIGHTS 365,855 67,935 61800 106,561 184,568
FOR ST LIGHTS 1,189,133 402,680 162,460 201,348 433,635
MUNI SLOGS 4,036,325 916,057 732,236 840,998 1,557,034
SALES/RESALE 1,5]],547 1,5]7,54] 0 0 0
SCHOOL 5.3081459 1,890,053 1,162,069 653,720 1,602,617
TOTAL 313.616.8]0 63,709.014 20.745.525 5],0]4.118 172.088,013
LAST YEAR
TO DATE
RESIDE3TIAL 114,849,081 35,660,697 16,610,026 27,114,358 35,456,000
COMM 6 IND 182,810,854 22,835,014 1,475,343 38,100,003 130,400,494
PPT ST LIGHTS 364,130 70,101 6,800 106,208 181,031
PUB BY LIGHTS 1,195,380 402,180 162,185 199,40D 431,615
MUNI BLDUS 4,072,777 944,975 702,529 851,137 1,574,136
SALES/NSSALS 1,562,615 1,562,615 0 0 0
SCHOOL 5,364,596 1,934,606 1,212,060 678,340 1,539,690
TOTAL 310.219.433 63.418.168 30.168.943 57.049.346 169,583,956
KILOWATT HOURS SOLD TO TOTAL
TOTAL READING LYWMRIELD NO.RRADING WILMINGTON
WORTH
RESIDENTIAL 33.47% 10.38% 4.96% 7.35% 10.73%
COMM 6 IND 61.66% 7.70% 0.47% 8.75% 44.74%
PVT ST LIGHTS 0.13% 0.03% 0.00\ 0.04% 0.07%
FOR ST LIGHTS 0.44% 0.15% 0.06% 0.09% 0.15%
MUNI BIGGS 1.43% 0.35% 0.25% 0.26% 0.55\
SALES/RESALE 0.45% 0.45% 0.00% 0.00% 0.00%
SCHOOL 3.42% 0.86% 0.54\ 0.30% 0.72%
TOTAL 100.00\ 19.921 6.29% 16.781 51.01%
YEAR TO DATE
RRSIDHNTIAL 37.36% 11.52% 5.51% 8.68% 11.65%
COMM % IND 58.66% 7.25% 0.45% 8.95% 41.01%
PVT ST LIGHTS 0.13% 0.02% 0.00% 0.03% 0.07%
PUB BY LIGHTS 0.38% 0.13% 0.05% 0.06% 0.14%
MUNI RIDGE 1.29% 0.29% 0.23% 0.27% 0.50%
SALES/RESALE 0.50% 0.50% 0.00% 0.00% 8.00%
SCHOOL 1.69% 0.60% 0.37% 0.21% 0.51\
TOTAL 100.00\ 20.31% 6 61% 18.20% 54.88%
LAST YEAR
TO DATE
RESIDENTIAL 31.02% 11.50% 5.35% 8.74% 11.43%
COMM 6 IMO 58.93% 7.36% 0.48% 9.06% 43.03%
PVT ST LIGHTS 0.12% 0.02% 0.00% 0.03% 0.07%
PUB ST LIGHTS 0.39% 0.13% 0.05% 0.06% 0.15%
MUNI RIDGE 1.31% 0.30% 0.23% 0.27% 0.51%
SALES/RESALE 0.50% 0.50% 0.00% 0.00% 0.00%
SCHOOL 1.73% 0.62% 0.39% 0.22% 0.50%
TOTAL 100.00\ 30.4)\ 6.50% 18.38% 54.69%
,61
TOM OF REARING, NASSACROSETTS
NUNICIPAL LIGHT ORPARTN6NT
FORMULA INCONS
11/30/12
TOTAL OPERATING REVENUES (P.3) 37,055,670.09
ADO:
POLE RENTAL 0.00
INTEREST INCONS ON "STONER DEPOSITS 625.35
LESS:
OPERATING EXPENSES (P.3) (36,539,766.03)
CUSTOMER DEPOSIT INTEREST EXPRESS (1,290.12)
PORMULA INCOME (LOSS) 2,515,067.29
J
TOM OF READING, NASSACMU88TT8
MUNICIPAL LIGHT ONPARTMN7
GIX RAL STATISTICS
11/30/12
MONTH OF MONTH OF \ CHANOE YEAR TRRU
NOV 2011 NOV 2012 2011 2012 NOV 2011 NOV 2012
SALE OF EWH (P.5) 50,902,432 54,757,967 -2.58% 1.10% 310,219,433 313.616,810
ENE PURCHASED 54,461,222 54,987,944 -2.14% 1.34% 314.905,945 319,140,868
AVE BASE COST PER ENH 0.029739 0.038947 -6.82% 9.81% 0.034741 0.038150
AVE BASE SALE PER EWH 0.065632 0.064221 4.89% -0.33% 0.064771 0.064557
AVE COST PER EWH 0.078274 0.088964 -4.98% -1.54% 0.006948 0.085611
AVE SALE PER EWE 0.115620 0.114225 -0.97% -4.76% 0.118083 0.112463
FUEL CHARGE REVENUE (P.3) 2.544,526.70 2,740,129.47 -9.65% -9.16% 16,538,329.12 15,023,840.86
LOAD FACTOR 64.13% 68.15%
P BAR LOAD 116,342 110,524
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TOWN OF READING, MASSACHUSETTS
NUNICIPAL LIGHT DEPARTMENT
SCHEDULE OF CASH AND INVESTMENTS
11/30/12
SCHEDULE A
PREVIOUS YEAR CURRENT YEAR
UNRESTRICTED CASH
CASH - OPERATING POND 8.536,196.66 10,590,165.63
CASH - PETTY CASH 31000.00 3,000.00
TOTAL UNRESTRICTED CASH 8,537,196.66 10.593.165.63
RESTRICTED CASH
CASH - DEPRECIATION FUND 6,361,383.89 3,596,263.51
CASH - TOW PAYMZHT 1,690,000.00 1,513,917.50
CASH - DEFERRED FUEL RESERVE 2.870,087.56 1,923,765.87
CASH - RAT[ STABILIZATION FUND $.060.567.61 6,685.766.16
CASH - UNCOLLECTIBLE ACCTS RESERVE 200.000.00 300.000.00
CASH - BIC[ LEAVE BENEFITS 1,966,606.57 2.985,870.01
CASH - HAZARD WASTE RESERVE 150,000.00 150,000.00
CASH - CUSTOMER DEPOSITS 592,779.89 665,760.62
CARE - ENERGY CONSERVATION 163,623.22 187,067.69
CASH - OPEN 97],63].18 1,366,175.69
TOTAL RESTRICTED CASH 17,807,657.72 19.]33.556.65
RESTRICT® INV88T*WTS
RATE STABILIZATION 11000,000.00 0.00
SIC[ LEAVE BENEFITS 11000,000.00 0.00
••• OPZB 200,000.00 0.00
TOTAL RESTRICTED INVESTHENTS ].]00.000.00 0.00
TOTAL CASH BALANCE 26.566.652.18 39,826,]0].08
NOV 2011
• FREDDIE NAC 1,000,U00.00; DTD 09/30/10; INT 2.009; HATURITY 09/15/20
•• FREDDIE NAC 1,000,000.00 DTD 09/10/10; INS 2.0061 MATURITY 09/15/20
••• FREDDIE WAC 200,000.00 DTD 09/10/10, INT 2.009, MATURITY 09/15/20
TOWN OF READING, MASSACHUSETTS
NDNICIPAL LIGHT DEPARTMENT
SMID0LE OF ACCOUNTS RECEIVABLE
11/30/12
SCHEDULE B
PREVTOUB YEAR CURRENT YEAR
SCHEDULE OF ACCOUNTS RECEIVABLE
RESIDENTIAL AND COMMERCIAL 3,546,372.84 2,927,924.64
ACCOUNTS RECEIVABLE - OTHER 131,138.34 162,743.97
ACCOUNTS RECEIVABLE - LIEMB 52,314.95 39,O66.03
ACCOUNTS RECEIVABLE - EMPLOYER ADVANCES 892.14 892.14
SALES DISCOUNT LIABILITY (301,797.72) (267,190.23)
RESERVE FOR MC0LLECTIBLE ACCOUNTS (284,025.88) (245,049.00)
TOTAL ACCOUNTS RECEIVABLE BILLED 3,144,894.67 2,61],38].55
UNBILLRO ACCOUNTS RECEIVABLE 4,830,294.37 4,915,936.83
TOTAL ACCOUNTS RECEIVABLE, MT ).9]5.189.01 ].537.3]1.18
SCHEDULE OF PREPAYMENTS
PREPAID INSURANCE 396,949.51 1,520,643.32
PREPAYMENT PURCHASED POWER 2],]64.05 447,247.49)
PREPAYMENT PAS" 138,330.65 241,849.31
PREPAYMNY WATSON 163,444.49 245,413.96
PURCHASED POWER NOMINO CAPITAL 14,523.70 14,523.70
TOTAL PREPAYMM 041.012.40 1.983,102.81
•
ACCOUNTS RECEIVABLE AGING NCVO®ER 2012:
RESIDENTIAL AND COMMERCIAL 2,917,924.64
LESS: SALES DISCOUNT LIABILITY (267.190.23)
GENERAL LEEGRR BALANCE L660.]J4.41
CURRENT 1,310,043.05 06.82%
30 DAYS 108,754.20 7.099
60 DAYS 79,173.52 2.98%
90 DAYS 14,659.70 0.55%
OVER 90 DAYS 68.103.94 2,56%
TOTAL _ 2,660.]34.41 lOG.OB4
T0W OF READING, MASSACHUSETTS
MUNICIPAL LIG" DEPARTMENT
SCHEDULE OF OPERATING REVERIE
11/30/13
SCHEDULE D
NONTM MONTH LAST YEAR CONSENT YEAR YTD
SALES OF ELECTRICITY: LAST YEAR CURRENT YG TO DATE TO DATE CHANGE
RESIDENTIAL SALES 3,381,851.13 3,356,163.73 15,099.501.05 16,703,735.59 -3.63%
COME AND INDUSTRIAL SALES 3,336,117.31 3,603,365.01 20,019,803.38 19,160,603.89 -6.39%
PRIVATE STREET LIGHTING 5,918.59 5,085.53 35,068.05 38,663.57 .18.36%
TOTAL PRIVATE CONSUMERS 5.613.189.93 5.965.316.01 35.156.313.68 33.093.803.05 -3.59%
MUNICIPAL SALES:
STREET LIGHTING 39,330.98 38,133.10 165,553.31 139,785.30 -15.56%
MUNICIPAL BUILDINGS 07,630.71 91,369.36 494,619.26 661,087.37 -6.63%
TOTAL MUNICIPAL CONSUMERS 116.611.65 119.373.66 660.173.57 601.673.57 -0.06%
SALES FOR RESALE 23,389.80 39,317.06 191,562.84 183,965.61 -3.97%
SCHOOL 133,176.31 165,617.76 625,617.15 591,603.55 -5.39%
SUB-TOTAL 5,885,331.58 6,359.333.11 36,631,535.06 35,370,133.64 -3.73%
FORFEITED DISCOUNTS 81,065.65 61,571.53 413,653.17 637,768.75 6.09%
PURCHASED PONBR CAPACITY (9,670.11) 166,053.61 (58,930.78) 969,631.67 -1711.11%
ENERGY CONSERVATION - RESIDENTIAL 17,717.05 10.355.30 91.617.97 117,236.19 38.15%
ENERGY CONSERVATION - COMMERCIAL 33,393.14 35,595.23 156,379.30 191,551.36 24.16%
GAN REVERES 50,909.10 54,816.73 310,303.83 313,475.11 1.05%
NYPA CREDIT (47,651.31) (22,566.16) (282,947.39) (211,298.94) -20.73%
TOTAL REVENUE 6,010,393.87 6.57.168.18 37.250.361.13 37.055.478.09 -0.54%
TOM OF READING, MASSACHUSETTS
MUXICIPAL LIGHT DBPARTM@
B
OPERATING OF OPBTIHG R8VI[ BY TOWN dft
11/30/13
TOTAL READING LYNNPIELD NO.R[ADING WILMINGTON
NONTN
RESIDENTIAL 3,356,161.73 734,188.81 34],13).40 517,363.39 757,573.13
INDUS/MINI BLDG 3,694,515.15 501,424.26 45.933.65 549,356.72 ],59),900.52
PUB.ST.LIGHTS 26,113.10 9,177.62 3,633.03 4,941.70 10,3)0.]5
PRV.ST.LIGHTS 5,885.53 1,075.40 107.64 1,769.99 2,933.50
CO-OP RESALE 29,117.86 29,217.86 0.00 0.00 0.00
SCHOOL 145,41).)4 51,833.59 31,964.30 10,842.26 42,777.57
TOTAL 6,259,311.11 1.336.91).51 418.))6.02 1,093.0]4.08 3,411.554.47
THIS YEAR TO DATE
RESIDENTIAL 14,)03,)35.59 4,551,896.17 2,15),3)3.50 3,410,338.68 4,584,138.24
INUUS/NOXI BLDG 19,623,290.16 3,634,574.69 240,916.97 3,104,000.00 13,641,798.50
PUB.6T.LIGHYS 139,785.30 45,081.82 17,634.19 25,859.70 51,008.59
PRV.ST.LIGHTS 28,663.57 5,348.88 524.64 8,651.20 14,230.05
CO-OP RESALE 183,965.47 183,965.47 0.00 0.00 0.00
SCHOOL 591,683.55 313,658.75 128,048.19 75,198.12 175,788.49
TOTAL 35,270,123.64 7.633.416.78 3.541,696.4) 6.634.037.71 18,46).9]2.68
LAST YEAR TO OATS
RESIDENTIAL 15,099,501.05 4,699,256.43 2,1)9,6)2.11 3,553,239.43 4,667,312.87
INDUS/MUNI BLDG 10,514,422.64 2,773,988.18 259,115.34 3,259,117.03 14,222,191.30
PUB.ST.LIGHTS 165,553.31 $3,713.56 30.486.58 29,324.89 62,029.38
PRV.ET.LIGHTB 35,068.05 61598.04 643.20 10,759.27 17,067.54
CO-OP RESALE 191,562.84 191,562.84 0.00 0.00 0.00
SCHOOL 625,417.15 217,692.73 138,372.40 81,064.34 178,]87.68 •
TOTAL 16,631.515.01 ).95].830.78 3,598.389.85 6.933.515.]4 19.146.905.6)
PERCENTAGE OF OPERATING INCOME TO TOTAL
MONTH TOTAL READING LYNNPIBLD NO.READINO WILMINGTON
RESIDENTIAL 37.64% 11.73% 5.55\ 8.26% 12.10%
INDUS/MUNI HIM 59.02% 8.01% 0.73% 0.78% 41.50%
PUB.ST.LIGHIE 0.46% 0.15% 0.06% 0.00% 0.17%
PRV.ST.LIOHTS 0.09% 0.02% 0.00% 0.03% 0.04%
CO-OP RESALE 0.47% 0.47% 0.00% 0.00\ 0.00%
SCHOOL 3.32% 0.83% 0.51% 0.30% 0.68%
TOTAL 300.00% 31.]1\ 6.85% 17.451 54.49%
THIS YEAR TO DATE
RESIDENTIAL 41.70% 12.91% 6.12\ 9.67% 13.00%
xNDUS/MUNI BLDG 55.63% 7.47% 0.68% 8.80% 38.68\
PUB.ST.LIGHTS 0.39% 0.13% 0.05% 0.07% 0.14\
PRV.ST.LIGHTS 0.08% 0.01% 0.00% 0.02% 0.05%
CO-OP RESALE 0.52% 0.53% 0.80% 0.00% 0.00%
SCHOOL 1.60% 0.60% 0.36% 0.21% 0.51%
TOTAL100.00% 21.64\ ].11\ 18.77\_ 52.38%
LAST YEAR TO DATE
RESIDENTIAL 41.23% 12.83% 5.95% 9.70% 11.74%
INDUS/MUNI BLDG 56.00% 7.57% 0.71% 8.90% 38.82%
PUB.ST.LIGHTS 0.45% 0.1$% 0.06% 0.08% 0.16%
PRv.ST.LIGHTS 0.10% 0.01% 0.00% 0.03% OAS\
CO-OP RESALE 0.52% 0.52% 0.00% 0.00% 0.00%
SCHOOL 1.71% 0.62% 0.38% 0.22% 0.49%
TOTAL 100.00% 31.71\ 7.10\ 18.93\ 52.36\
11A)
TO" OF READING, M,ASSACM08ETT8
MUNICIPAL LIGHT DEPARTMENT
BUDGETED REVENUE VARIANCE REPORT
11/30/11
SCHEDULE P
ACTUAL BUDGET \
YEAR TO OATS YEAR TO OATS VARIANCE • CNANOE
SALES OF ELECTRICITY:
RESIDENTIAL 9,091,669.18 9.315,558.00 (381,688.8]) -3.01\
COIN AND INDUSTRIAL SALES
PRIVATE STREET LIGHTING 30,616,169.75 10,930,171.00 (303,901.35) -1.78\
MUNICIPAL BUILDINGS
PUBLIC STREET LIGHTING 81,706.85 86,118.00 (1,713.15) -1.06\
SALES FOR RESALE 108,616.93 117,668.00 (19,151.07) -15.08\
SCHOOL 336.116.07 367,196.00 (11,081.93) -3.19\
TOTAL BASE SALES 10,166,176.78 10,865,111.00 (618,066.13) -1.97\
TOTAL FUEL SALES 15.013,868.86 13,967,676.00 1.076.176.86 7.73\
TOTAL OPERATING REVENUE 35,370,133.61 36,811,795.00 157,318.66 1.31\
PORFBItED DISCOUNTS 1]7,)68.75 639,011.00 (11,163.15) -6.63\
PURCHASED POWER CAPACITY 969,631.67 956,153.00 (4,621.33) -0.68%
ENERGY CONSERVATION - RESIDENTIAL 117,216.19 116,383.00 863.19 0.71\
ENERGY CONSERVATION - COMMERCIAL 191,551.36 198,630.00 (7,078.66) -3.56\
DAN REVENUE 313,675.62 315,013.00 (1,537.58) -0.691
PABNT CREDIT (211,198.96) (291,665.00) 57,366.06 -13.10\
TOTAL OPERATING REVENUES 37.055.678.09 36.566.81.00 691,03209 1.36\
• ( I ACTUAL UNDER BOUGHT
TOM Of READING, HA88ACEUSRTTS
MUNICIPAL LIGHT OEPARTNBNT
SCHEDULE OF OPERATING EXPENSES
31/30/13
SCHEDULE 8
NONTB NORTH LAST YBAR CURRENT YEAR YTD \
OPERATION EXPENSES: LAST YEAR CURRENT YEAR TO OATS TO DATE CRANGR
PURCHASED PORER BASE EXPENSE 1,619.641.67 21141.608.94 10,940.249.03 12.175,141.90 11.39%
OPERATION SUP AND ENGINEERING EXP 57,802.18 36,762.78 233.841.26 222,897.80 .3.86%
STATION SUP LABOR AND NISC 11,943.73 4,545.17 57,127.01 34,289.23 -39.98%
LINE MISC LABOR AND EXPENSE 54,057.92 62,040.47 283,872.40 274,034.43 -3.47\
STATION LABOR AND RIPENER 46,766.96 49,071.59 206,729.24 235,796.51 14.06%
STREET LIGHTING EXPENSE 7,373.57 6,576.97 40,731.77 30,939.66 -24.04%
NETER EXPENSE 35,010.50 11,478.64 120,040.54 70,003.73 -35.02%
MISC DISTRIBUTION EXPENSE 28,120.72 27,533.24 137,1OB.61 142,B77.25 4.31%
"TER READING LABOR a RXPMSE 61111.91 6,325.28 39,422.11 38,416.69 -2.55%
ACCT A COLL LABOR R EXPENSE 165,369.18 104,101.35 563,152.13 619,471.59 9.82%
UNCOLLBCIIBLE ACCOUNTS 16,000.00 8,333.33 SD,000.00 41,666.65 -47.92%
ENERGY AUDIT EXPENSE 35,352.38 42,890.00 175,066.60 198,999.20 13.67%
PURGE A GM SALARIES 57,991.90 59,562.77 301,299.35 314,514.71 4.39%
OFFICE SUPPLIES A 8XPENS9 7,286.94 36,634.90 76,430.33 98,423.44 28.78%
OUTSIDE SERVICES 60,047.99 58,198.45 175,236.11 153,011.62 4.44%
PROPERTY INSURANCE 31,778.71 31,679.42 159,929.59 158,639.10 -0.18%
INJURIES AND DARAGBS 16,524.35 3,940.15 9,697.29 19,262.14 98.63%
EMPLOYEES PENSIONS A BENEFITS 115,303.27 143,111.01 650,244.08 823,825.73 26.69%
NISC GENERAL RXPNNSB 22,570.71 33,633.45 77,775.54 62,594.13 6.20%
RENT EXPENSE 27,599.16 13,609.94 83,463.03 89,923.02 7.74%
ENERGY CONSERVATION 27,589.68 245,536.97 230,402.72 414,871.09 80.06%
TOTAL OPERATION EXPENSES 833.317.66 985.894.58 3.691 569 91 4,101,459.72 10 89%
NAINTEgNCE EXPENSES- •
MAINE OF TRANSNISSION PLAIT 327.10 327.10 1.135.50 3,133.50 0.00\
SAINT OF STROUT AND EOOIPNT 30,593.54 6,846.89 95,273.76 54,395.44 -42.91%
EXIST OF LIMB - ON 279,071.11 144,196.74 806,176.86 626,414.27 -22.05%
MINT OF LIMB - UG 11.545.20 30,387.17 84,337.57 59,232.39 -29.77%
MAINT OF LINE TRANSFOE6RS 8,393.02 7,584.76 31,416.62 19,503.83 -39.83%
NAINT OF 8T IT A BIO SYSTEM (40.34) (42.09) (277.06) 1]44.40) -11.79%
PAINT OF GARAGE AND STOCEROON 34,207.86 45,545.91 205,731.01 195,720.58 -4.07%
PAINT OF EXTRAS 3,228.91 2,210.77 31,971.09 17,790.51 -44.35%
MMMT OF GEN PLANT 6,249.42 8,174.49 35,336.07 43,041.76 21.81%
TOTAL NAINIE ANCE EXPENSES 373.465 90 247.111.63 1.293 102.41 1.018.989.98 -21.14%
DEPRECIATION EXPENSE 296,027.47 305,469.18 1,480,137.35 1.527,345.90 3.19%
PURCHASED POWER FUEL EXPENSE 2,643.246.46 3,744,811.30 16,440,519.05 15.146,838.53 -7.87%
VOLUNTARY PAYNBNTS TO TORUS 113,000.00 114,000.00 565,000.00 570.000.00 0.00%
TOTAL OPIRATINC EXPENSES 5,878,699.16 6,538.931.93 14.416.577.75 14,519.766 Al 0.36\
TOM OF READING, MASSACHUSETTS
MUNICIPAL LIGHT DEPARTMENT
BUOGETED OPERATING EXPENSE VARIANCE REPORT
11/30/1]
SCHEDULE 0
ACTUAL BUDGET %
OPERATION EXPENSES: YEAR TO DATE YEAR TO DATE VAMIANCE CHANGE
PURCHASED POWER BASE EXPENSE 1].1)5.141.90 13.]]9.411.00 11.104.269.101 -6.32%
OPERATION SUP AND ENGINEERING SEP ]]],09).80 190,191.00 33,705.60 17.20%
STATION SUP LABOR ANO MIBC 34,109.13 33,214.00 1,0)5.]3 3.14%
LINE MIBC LABOR AND EXPENSE 374,034.43 260,846.00 13,188.43 5.06%
STATION LABOR AND EXPENSE 235,796.51 1801098.00 54,698.51 30.35%
STREET LIGHTING EXPENSE 30,939.66 34,078.00 (3,136.34) -9.11%
METER EXPENSE 76,003.73 50,010.00 19,963.73 34.44%
MIBC DISTRIBUTION EXPENSE 142,677.25 140,060.00 (5,183.75) -3.50%
"TER READING LABOR 6 EXPENSE 36.416.69 41,603.00 (3,184.31) -7.65%
ACCT A COLL LABOR 6 EXPENSE 618,471.59 555,011.00 62,660.59 11.17%
UNCOLLECTIBLE ACCOUNTS 41,666.65 41,665.00 1.65 0.00%
ENERGY AUDIT EXPENSE 198,999.20 189,704.00 9,]95.]0 4.90%
ADMIN A GEN SALARIES 314,514.71 305,983.00 0,531.71 1.79%
OFFICE SUPPLIES A EXPENSE 90,423.44 105,885.00 (7,461.56) -7.05%
OUTSIDE SERVICES 183,011.62 298,495.00 (115,483.30) -38.69%
PROPERTY INSURANCE 158,639.10 196,465.00 (37,035.90) -19.25%
INJURIES AND DAMAGES 19,]6].14 13,875.00 (41613.86) -19.32%
EMPLOYEES PENSIONS A BENEFITS 8]3,5]5.73 802,330.00 21,495.73 3.66%
NISC GENERAL EXPENSE 02,594.13 10),9)0.00 (25,375.87) -23.50%
RENT EXPENSE 89,923.02 88,335.00 1,588.01 1.80%
ENERGY CONSERVATION 414,071.09 ]9),733.00 117,138.09 39.34%
TOTAL OPERATION EXPENSES 1.101.459.)] 3.961.163.00 140 297.)1 3.54%
MAINTENANCE EXPENSES:
SAINT OF TRANSMISSION PLANT 1.135.50 1,250.00 (114.50) -9.16%
SAINT OF ETROCT AND EQUIPMENT 54.395.44 48,647.00 5,54X.44 11.36%
SAINT OF LINES - ON 630,414.37 490,382.00 138,033.37 30.15%
SAINT OF LINES - GO 59,333.39 66,917.00 (9,684.61) -14.05%
MAINT OF LINE TRANSFORMERS 19,503.83 66,035.00 (66,531.1)1 -77.33%
SAINT OF ST LT A SIG SYSTEM (244.40) 3,953.00 (4,197.40) -106.18%
SAINT OF GARAGE AND STOCKROOM 195,720.58 ])0,106.00 (74,365.42) -27.54%
MAINT OF FIFTIES 17,790.61 30,439.00 (12,648.39) -41.55%
SAINT OP GEN PLANT 43,041.76 54,630.00 (11,588.24) -21.11%
TOTAL MAINTENANCE EXPENSES 1.018.989.98 1.051.559.00 (35.569.02) -3.37%
DEPRECIATION EXPENSE 1,537,345.90 1,520,835.00 61510.90 0.43%
PURCHASED POWER FUEL EXPENSE 15,146,820.53 13,841,284.00 1,305.544.53 9.43%
VOLUNTARY PAYMENTS TO TOWNS 570,000.00 570,000.00 0.00 0.00%
TOTAL OPERATING EXPENSES 34.519.766.03 34.1]7,251.00 312,515.03 0.91%
1 ) ACTUAL UNDER BUDGET
(I 2A1
TOWN OF RXADING, MASSACHUSETTS
MUNICIPAL LIGHT DEPARTMENT
BUDGET80 OPERATING EXPENSE VARIANCE REPORT
11/30/12
RESPONSIBLE RE.YI.INING
SENIOR 2013 ACTUAL BWGXT REMAINING
OPERATION EXPENSES: MANAGER ANNOAL BUIMET YEAR TO DATE BALANCE BUDGET
PURCHASED POWER BASE EXPENSE SP 30.102,762.00 12,115.161.90 1],92].600.10 59.55%
OPERATION SUP AND ENGINEERING EXP AS 668,969.00 223,897.80 266,051.20 52.67\
STATION SUP LABOR AND MISC AS 79,813.00 34,289.23 65,523.77 57.06%
LINE MISC LABOR AND EXPENSE AS 671,309.00 276,036.63 397,278.57 59.18\
STATION LABOR AND EXPENSE AS 668,269.00 235,796.51 212,652.69 67.60%
STRZMT LIGHTING EXPENSE AS 83,106.00 30,939.66 52,166.36 62.77%
WRIEN EXPENSE XS 197,329.00 78,003.73 119,325.27 60.67%
MISC DISTRIBUTION EXPENSE AS 366,689.00 162,877.25 223,611.75 61.01%
WRIER READING LABOR A EXPENSE AS 69,966.00 38,118.69 31,527.31 65.07\
ACCT 6 COLL LABOR G EXPENSE RP 1,385,110.00 618,671.59 766,738.61 55.35%
UNCOLLECTIBLE ACCOUNTS RP 100,000.00 61,666.65 59,333.35 58.33%
ENERGY AUDIT EXPENSE JP 679,013.00 198,999.20 280,013.60 58.66%
ADMIN R ONE SALARIES VC 761,068.00 316,516.71 666,553.29 58.67\
OFFICE SUPPLIES R EXPENSE VC 253,950.00 98,623.44 155,526.56 61.26%
OUTSIDE SERVICES VC 507,125.00 183,011.62 326,113.38 63.91%
PROPERTY INSURANCE KS 671,500.00 158,639.10 312,860.90 66.35%
INJURIES AND DAMAGES KS 56,619.00 19,362.16 37,356.86 65.98%
EMPLOYERS PENSIONS 6 BENEFITS KS 1,889,623.00 823,825.73 1,065,797.27 56.60%
MISC GENERAL EXPENSE VC 200,785.00 82,596.13 116,190.87 58.86%
RENT EXPENSE RE 212,000.00 89,923.02 122,076.98 57.58\
ENERGY CONSERVATION JP 697,983.00 116,871.09 283,111.91 60.56%
TOTAL OPERATION EXPENSES 8.823,105.00 6.101.159.72 5,298,606.28 60.05%
MAINTENANCE BXPENEES: •
MAINT OF TRANSMISSION PLANT AS 3,000.00 1,135.50 1,866.50 62.15%
WAIST OF STRUCT AND BOUIPHT RE 116,120.00 56,395.16 59,726.56 52.33%
MAINT OF LINES - ON AS 1,250,621.00 628,611.27 622,006.73 69.76%
MAINT OF LINES - UG AS 285,371.00 59,232.39 226,138.61 79.26\
FAINT OF LINE TRANSFORMERS KS 188,500.00 19,503.83 168,996.17 09.65%
FAINT OF ST LT R SIG SYSTEM RS 9,686.00 (366.60) 9,928.60 102.53%
MAINT OF GAMOE AND STOCKROOM RS 672,589.00 195,720.58 476,868.42 70.90%
MAINT OF MITERS RS 67,392.00 17,790.61 29,601.39 62.66%
MAINT OF GM PLANT RP 131,320.00 63,061.76 88,278.26 67.22%
TOTAL MAINTENANCE EXPENSES 3.81],601.00 1.018,989.98 1.683.607.02 59.75%
DEPRECIATION EXPENSE RP 3,650,000.00 1,527,365.90 2,122,656.10 58.15%
PURCHASED POWER FUEL EXPENSE JP 30,500,000.00 15,166,828.53 15,353,1]1.6] 50.36%
VOLUNTARY PAYMENTS TO TOWS RP 1,368,000.00 570,000.00 798,000.00 58.33%
TOTAL OPERATING EXPENSES 83.767.500.00 36,539.]66.0363.181.630.97 51.55\
•
u zal
TOW OR READING, MASSACHUSETTS
MUNICIPAL LIGHT DEPARTHINT
PROFESSIONAL SERVICES
11/30/2012
PROFESSIONAL SERVICES BY PROSECT
ITEM DRPARTMRMI ACTUAL BOUGHT VARIANCE
1 SKID AND PENSION TRUST AUDIT PEES ACCOUNTING 32,750.00 32,250.00 500.00
2 PENSION ACTUARIAL EVALUATION ACCOUNTING 3,750.00 0.00 3,750.00
3 LEGAL- PBRC/ISO ISSUES ENERGY SERVICE 0.00 7,500.00 (7,500.001
1 LEGAL- POWER SUPPLY ISSUES ENERGY SERVICE 10,162.10 18,750.00 (8,607.901
5 PROFESSIONAL SERVICES ENERGY SERVICE 9,939.80 10,000.00 (60.20)
6 NERC CONPLIANCE AND AUDIT E A O 5,820.00 6,200.00 11620.00
7 LOAD CAPACITY STUDY ENGINEERING 0.00 7,500.00 17,500.00)
B STRON HARDENING STUDY ENGINEERING 0.00 50,000.00 (50,000.00)
9 LEGAL-GENERAL, NHNEC AUDIT ON 36,102.39 62,500.00 (26,397.61)
30 LEGAL SERVICES-GENERAL HR 66,576.15 33,600.00 10,976.15
11 LEGAL SERVICES-NEOOTIATIONS HR 13,657.96 27,600.00 (16,162.06)
32 LEGAL GENERAL BLDG. MINT. 10,300.90 625.00 9,675.90
13 SURVEY RIGHT OF NAY BLDG. HAINT. 0.00 2,085.00 (2.085.00)
16 ENVIRONMENTAL BLDG. MINT. 0.00 21065.00 (2,085.00)
15 ENGINEERING SERVICES BLDG. MMMT. 16,118.05 3,550.00 10,568.05
16 REPAIR RANT AND DECK ARRA BLDG. HAINT. 0.00 30,000.00 (30.000.00)
17 INSURANCE CONSULTANT GEN. BENEFIT 0.00 6,165.00 (6,165.001
18 LEGAL GEN. BENEFIT 0.00 2,085.00 (2,085.00)
19 SITE ASSESSHBNT FOR HASOR UPGRADE ACCOUNTING 2,056.27 0.00 2,056.27
TOTAL 183,011.62 298,695.00 (115,683.38)
PROFESSIONAL SERVICES BY VENDOR
ACTUAL
NBWNSON HEATH i CONPANY 32.750.00
HUDSON RIVER ENERGY GROUP 2,895.80
STONE CONSULTING INC. 3,750.00
ROBIN AND RUDMAN 25.853.91
UTILITY SERVICES INC. 5,820.00
DUNCAN 6 ALLEN 30,691.48
CHOATE HALL R STEWART 53,260.11
HERDERS TORREY I SPENCER 12,305.55
RICHARD HIGGINS ARBITRATOR 2,710.00
GREAT HOOTERS ARBITRATOR 2.062.00
CHEBC 7,066.00
GM ASSOCIATES 1,732.50
COGSDALE 2.056.27
TOTAL 183,011.62
RMLD
BUDOHT VARIANCE REPORT
FOR PERIOD ENDING NOVEMBER 30, 2012
DIVISION ACTUAL BUDGET VARIANCE CHANCE
ENGINEERING AND OPERATIONS 1,754,623 1,672,782 81,640 4.89%
ENERGY SERVICES 635,127 523,898 111,229 21.236
GENERAL MANAGER 357,250 400,606 (33,356) -8.336
FACILITY MANAGER 1,511,016 1,616,149 (105,133) -6.516
BUSINESS DIVISION 3,894,998 3,838,121 56,877 1.486
SUB-TOTAL 8,163,013 8,051,556 111,457 1.386
PURCHASED POWER - BASE 12,175,142 13,279,411 (1,104,269) -8.326
PURCHASED POWER - FUEL 15,146,829 13,841,284 1,305,545 9.436
TOTAL 35,484,984 35.172,251 312,733 0.896
R1
DEFERRED PURL GRH RESERVE ANALYSIS
11/30/12
OROSS MONTHLY TOTAL
DATE CHARGES REUm3OE9 NYPA CREDIT DEFERRED DEFERRED
SUN-12 2,2]0,044.48
Jul-12 3,581,715.28 3,492,043.61 (61,106.90) (149,9]9.5]) 2,120,065.91
Aug-12 3,578,611.20 2,914,978.35 (44,365.80) ('70],998.65) 1.412,06].26
9.p-12 2,646,309.32 3,486,749.45 (4],4]8.80) 792,961.33 2,205,028.59
Oct-12 2,595,375.45 2,389,140.98 (48,781.28) (255,008.75) 1.950,019.84
Nov-12 2,]4{,811.28 2,740,129.47 (22,566.16) (2],253.9]) 1,922,]65.8]
RMLD
STAFFING REPORT
FOR FISCAL YEAR ENDING .TUNE, 2013 •
13 BUD JOL AUG SSP OCT NOV
TOTAL 12 12 12 12 12
GENERAL !L H&GER
GENERAL MANAGER 2.00 2.00 2.00 2.00 2.00 2.00
HUMAN RESOURCES 1.00 1.00 1.00 1.00 1.00 1.00
COMMUNITY RELATIONS 1.00 1.00 1.00 1.00 1.00 1.00
TOTAL 4.00 4.00 4.00 4.00 4.00 4.00
NRRR
" ACCOUNTING 2.00 2.00 2.00 2.00 2.00 2.00
CUSTOMER SERVICE ++ 7.75 7.75 7.75 7.75 7.75 7.75
MGM INFORMATION SYS • 6.25 6.00 6.00 6.00 6.00 6.00
MISCELLANEOUS 1.00 1.00 1.00 1.00 1.00 1.00
TOTAL 17.00 16.75 16.75 16.75 16.75 16.75
BNpINRERINO & OPRRATIONB
AGM B&O 2.00 2.00 1.00 1.00 1.00 1.00
ENGINEERING 5.00 5.00 5.00 5.00 5.00 5.00
LINE 21.00 21.00 21.00 21.00 21.00 21.00
METER 4.00 3.00 3.00 3.00 3.00 3.00
STATION 8.00 8.00 8.00 8.00 9.00 8.00
TOTAL 40.00 39.00 38.00 38.00 38.00 38.00
PROJECT •
BUILDING 2.00 2.00 2.00 2.00 2.00 2.00
GENERAL BENEFITS 2.00 1.00 2.00 2.00 2.00 2.00
TRANSPORTATION - - - - - -
MATERIALS MGM 4.00 3.00 4.00 4.00 4.00 4.00
TOTAL 8.00 6.00 8.00 8.00 8.00 8.00
ENERGY SRRVICRB
ENERGY SERVICES • 5.50 4.50 4.50 4.50 4.50 4.50
TOTAL 5.50 4.50 4.50 4.50 4.50 4.50
RMLD TOTAL 74.50 70.25 71.25 71.25 71.25 71.25
CONTRACTORS
UG LINK 2.00 2.00 2.00 2.00 2.00 2.00
TOTAL 2.00 2.00 2.00 2.00 2.00 2.00
GRAND TOTAL 76.50 72.25 73.25 73.25 73.25 73.25
part time employee
'4 pert time employee and a coop student
part time employee and a temp
r
® Dt: January 29, 2013
To: RMLB, Vincent F. Cameron, Jr., Jeanne Foti
Fr: Bob Fournier
Sj: December 31,2012 Report
The results for the first six months ending December 31, 2012, for the fiscal year
2013 will be summarized in the following paragraphs.
1) Change in Net Assets: (Page 3A)
For the month of December,the net income or the positive change in net assets
was $5,691, increasing the year to date net income to $1,690,040. The year to
date budgeted net income was $883,008, resulting in net income being over
budget by $807,032 or 91.4%. Actual year to date fuel expenses exceeded fuel
revenues by $297,850.
2) Revenues: (Page 11 B)
Year to date base revenues were under budget by $740,503 or 3.02%. Actual
base revenues were $23.8 million compared to the budgeted amount of$24.5
million.
® 3) Expenses: (Page 12A)
*Year to date purchased power base expense was under budget by $1,246,684 or
7.95%. Actual purchased power base costs were $14.4 million compared to the
budgeted amount of$15.7 million.
*Year to date operating and maintenance (O&M)expenses combined were over
budget by $114,525 or 1.88%. Actual 0&M expenses were $6.2 million
compared to the budgeted amount of$6.1 million.
*Depreciation expense and voluntary payments to the Towns were on budget.
4) Cash: (Page 9)
*Operating Fund was at$11,171,080.
* Capital Fund balance was at $3,458,260.
* Rate Stabilization Fund was at $6,686,773.
* Deferred Fuel Fund was at $1,972,193.
* Energy Conservation Fund was at $218,231.
5) General Information:
Year to date kwh sales(Page 5) were 367,927,359 which is 5.1 million kwh or
1.4%, ahead last year's actual figure. GAW revenues collected ytd were
® $367.799 bringing the total collected since inception to $1,664,883.
6) Budget Variance:
Cumulatively, the five divisions were over budget by $117,042 or 1.2%.
FINANCIAL REPORT
DECEMBER 31 , 2012
ISSUE DATE : JANUARY 29, 2013
TONS OF READING, MASSACHUSETTS '
NOWICIPAL LIGHT DEPARTMENT
8093.888-TYPE PROPRIETARY POND
STATENENI OF NET ASSETS
13/31/1]
PREVIOUS YEAR CURRENT YEAR
ASSETS
CURRENT
UNRESTRICTED CASH (SCH A P.9) 8.046,998.73 11,1]4,080.9]
RESTRICTED CASH (SCH A P.9) 18,451,703.01 1],6]7,388.65
RECEIVABLES. NET (SCH B P.10) 7,935,677.31 7,933,103.03
PREPAID EXPENSES (SCH B P.10) 1,987,383.95 119891659.10
INVENTORY 3,435,377.83 1,456,654.48
TOTAL CURRENT ASSETS 38.65].130.]1 40.330.905.33
NONCURRENT
INVESTNQNT IN ASSOCIATED CO (SCH C P.3) ]3,]65.66 46,950.35
CAPITAL ASSETS, MET (SCH C P.3) 6],738,3]3.59 69,851,693.15
TOTAL NONCURRENT ASSETS 67.813.030 15 69.896,650.50
TOTAL ASSETS 306.469.158.96 310.119,635.73
LIMILIT.S
CURRENT
ACCOUNTS PAYABLE 5,050,461.48 6,467,113.50 •
CUSTONRR DEPOSITS 600,910.69 659,170.43
CUSTOHSR ADVA.CES FOR CONSTRUCTION 334,606.36 394,781.15
ACCRUED LIABILITIES 1,330,683.70 1,388,110.36
TOTAL CURRANT LIABILITIES 8.001.6]0.]3 8.909.1]5.51
NONCURRENT
ACCRUED EVRLOYBA COMPENSATED ABSENCES 3,934,690.58 3,906.360.31
TOTAL NONCURRENT LIABILITIES 3.9J4 690 58 3.986.360.31
TOTAL LIABILITIES 30.9J9.160 B1 11.695,535.73
NET ASSETS
INVESTED IN CAPITAL ASSETS, NET OF RELATED DEBT 57,501,511.59 69,851.693.15
RESTRICTED FOR DEPRECIATION II (P.9) 4,135.756.98 3,458,360.56
UNRESTRICTED 33,844,394.33 34.914,147.39
TOTAL NET ASSETS (P.3) 95.539.790 15 9a.224,100.00
TOTAL LIM ILITIES ANO NBT ASSETS 106.469,158.96 110.119.635.73
(11
TOM! OF R6ADIN0, NA58ACN088TT8
MUNICIPAL LIONT DEPARTMENT
NONCURRENT ASSET SCMEDN,E
11/31/11
SCHEDULE C
PREVIOUS YEAR CURRENT YEAR
SCNEDOLE OF INVESTMENTS IN ASSOCIATED COMPANIES
NEW ENGLAND HYDRO ELECTRIC 15,]4].64 1,9]5.]4
NEW ENGLAND HYDRO TRANSMISSION 58,018.01 43,981.61
TOTAL INVSSTEENTS IN ASSOCIATED COMPANIES ]].]65.66 46,958.35
SCHEDULE OP CAPITAL ASSETS
yAND 1,165,841.13 1,165,841.13
STROCYOR88 ASD IMPROVEMENTS 6,561,433.34 6,761,569.18
EODIPM@IT AND ITxEISHINGS 11,915,111.14 13100E,885.40
INFRASTRUCTURE 46.995.884.88 48.814,395.14
TOTAL CAPITAL ASSETS, NET 6].]38.1]1.59 69.851.691.15
TOTAL NONCE ENT ASSETS 6],811,038.15 69.898.650.50
UI
TOM OF READING. NA9EACNOSETTS •
MUNICIPAL LION{ OEPARTNENT
BD5
INE88-TYPE PROPRIETARY POND
STATEMENT 01 REV@(OES, EEPNNSES AND CHANGES IN FOND NET A59ET8
13/31/13
NOSEN MONTH WET YEAR CNRA®IL YEAR YTD 1
COST MBAR CONSENT YEAR TO RATE TO MTE CHANGE
OPERATING RESTATES: 18CH D p.l l)
MSE EVENDS 3.441,544.04 3.553,43].51 33,535,739.96 13,799.713.30 1.12%
PML REVHNIE 3,809,833.54 1,907,105.83 19,418,151.66 SB.010.954.68 -7.21%
PMCHASM NOWER CAPACITY (9,983.48) 164,559.67 (60,914.36) 1,114,191.34 -1716.78%
FORFEITED DIBCOSSTS 65,913.06 73,051.41 470,566.33 510,810.16 6.74%
EMI CONSERVATION REVENUE 51,738.57 53,466.50 217,195.74 363.144.05 11.76%
MN REVENGE 53,561.03 51,333.79 363.764.85 367.799.31 1.39%
NYPA CREDIT (63,455,95) (68,965,36) (346.403,24) (193.364.301 -15.34%
TOTA4 OPERATING RESEN11E8 6,439.139.81 6,816,979.35 43.68],400.94 43.8]3,45].44 0.43%
OPERATING EXPENSES: (EON E P.11)
PDRCMS® PONER MSE 3,033.700.87 3,168,056.90 11,963,949.90 14,443,190.80 11.41%
PMCMS6D PONE. PVe1 3,968,917.38 3,668,713.69 19,409,436.43 18.015,541.33 -7.10%
OPERATING 617,614.11 643,340.13 4,516,164.03 4,943,799.54 9.47%
NAINTENANCR 315,953.13 133,015.93 1.518,055.53 1,353,605.90 -17.471
DEPRECUSION 296.037.47 305,469.18 1,]]6,164.83 1,533,015.00 3.11%
VOLUNTARY PAYMENTS TO IDWS 109.186.00 10].383 00 6]4,186 00 67] 363.00 0.47%
,. TOTAL OPERATING EXPENSES 6,141.398.95 6.635,777.81 40,857,976.70 41,165,543.04 0A5%
OPERATING INCOY3 (11.359.14) 191,301.54 3,839,414.34 3,706,913.60 -4.33%
NONOPBRATINO REVENOES (EXPENSE.) •
CONTRIBUTIONS IN AID OF CONST 3,794.00 0.00 33,653.74 46,478.95 30.11%
RETURN ON IMSTNEPI TO READING (183,039.75) (108.785.60) (1,101,970.50) 11.133.713.591 2.70%
INTEXEST INCOME 15,817.19 3.466.56 56,591.63 1],2]4.18 -69.53%
INTEREST EEPBMSE (2,186.86) (11317.73) (4.736.77) (3,607.95) -44.83%
OT102. (..E AND ANORT) 2,365.00 3,137.00 114.143.35 54,694.63 -52.08%
TOTAL WNOPERATINO REV (EX9) (165 140 13) f185 509 ]]1 (901.316 SQ (1,016 8]3 591 12.58i
CHxNOe IN NET AS.EP. fl]].399.561 5,691.]7 1,936,307.68 1,690,040.01 -13.26%
NET ASSET. AT BEGINNING OP MA 93,603.501.47 96,534,059.99 3.13%
NET ASSETS AT AND OF OECENOBR 95.539.790.1598,114.100.00 3.82%
•
Ill
TOWN OF READING, NASBACROS ETTS
MUNICIPAL LIONS DEPARTMENT
BUSINESS-TYPE PROPRIETARY PNNO
STATEMENT 01 REVENUES, EXPENSES AND CHANGES IN FUND NET ASSETS
1]/31/11
ACTUAL BUDGET 4
YEAR TO DATE YEAR TO DATE VARIANCE. CHANGES
OPERATING REVENUES: (SCH P P.11B)
BASE REVENUE 13,799,713.30 14,540,316.00 (740,503.70) -3.034
PGBL REVENUE 18,010,954.68 16,383,330.00 1,637,624.63 9.934
PURCHASED POWER CAPACITY 1,114,191.34 1,130,893.00 16,]00.66) -0.604
PORREITID DISCOUNTS 510,330.16 539,884.00 (39,063.84) -5.384
ENERGY CONSERVATION REVENUE 361,344.05 370.033.00 17,7]8.95) -1.104
GAN REVENUE 367,799.11 370,013.00 (1,313.79) -0.604
NYPA CREDIT (393464.30) (349,990.00) 56 ]33.70 -16.314
TOTAL OPERATING REVENUES 43.073,457.44 43.9]4,3]0.00 398,087.44 3.094
OPERATING EXPENSES: (SCH 0 P.13A)
PURCHASED POWER BABE 14.443,198.60 15,669,883.00 (1,346,634.30) -7.954
PURCHASED POWER FUEL 18,D15,541.32 16,906,395.D0 1,039,146.33 6.064
OPERATING 4,90,999.04 4,300,011.00 141,977.84 3.934
MAINTENANCE 1.351,805.90 5.381.158.DO (381453.10) -3.134
ORPRECIATION 1.831,815.03 1,335.003.00 7,813.09 0.434
VOLUNTARY PAYW8NT8 TO TOWNS 677.383.00 604,000.00 (6.617.00) -0.974
TOTAL OPERATING EXPENSES 41.165.543.84 41.367,360.00 1101,816.16) -0.354
OPERATING INCOME 1.706.913.60 1,707,010.00 999,903.60 55.504
kw
NONOPBRATING REVeNOe6 (BXPEN888)
CONTRIBUTIONS IN AID OF CONST 46,478.95 300,000.00 (153.531.05) -76.764
RETURN ON INVBSTMENI TO READING (1.131.713.50) (1,133,500.00) (113.50) 0.014
INTEREST INCOME 17,174.19 49,990.00 (31,733.81) -65.454
INTEREST EXPENSE (1,60].85) 111500.001 (1,107.85) 73.864
OTHER (NDSE AND AMORT) $4,694.63 60.000.00 (5,305.37) -3.844
TOTAL NONOPERATING REV (EXP) (1.016.873.59) (014.001.00) 1193.871.59) 33.414
CHANGE IN NET ASSETS 1,690.040.01 883,008.00 607.033.01 91.404
NET ASSETS AT BEGINNING OF YEAR 96,534.059.99 96.534,059.99 0.00 0.004
NET ASSETS AT ENO OF DECENNER 98.334.100.00 __G07032 0.834
• 1 1 ACTUAL UNDER BUDGET
TOM OF READING. NA89ACHG68TT5 •
HVNICIPAL LIOMI DEPARTMENT
RECONCILIATION OF CAPITAL FORCE
12/31/13
SOURCE OF CAPITAL PONDS:
DEPRECIATION FUND BALANCE 9/1/11 1.635,305.70
CONSTRUCTION FUND BALANCE 9/1/11 21000,000.00
INTEREST ON DEPRECIATION FUND FY 13 3,830.30
DEPRECIATION TRANSFER PY 13 1,032,815.08
TOTAL SOURCE OF CAPITAL FUNDS 6,191.051.06
USE OF CAPITAL FUNDS:
LESS PAID ADDITIONS TO PLANT TEND DBCEXIER 3.013.590.51
GENERAL LEDGER CAPITAL FUNDS BALANCE 11/31/123,456,260.56
•
IMI
TOM OF READING. NASSACN088TT9
MMICIPAL LIGHT DBPAR7WENT low
SALES OP KILOWATT HOURS
13/31/13
WORTH NORTH LAST YEAR CURRENT YEAR YTD i
SALES OF ELECTRICITY: LAST YEAR CURRENT YEAR TO DATE TO DATE CHANGE
RESIDENTIAL SALES 19,083.072 ]0,5]3,493 133,933,153 131.688,895 3.80%
COM. AND INDUSTRIAL SALBE 30,983,933 31,191,912 213,993,576 215.145.891 0.63%
PRIVATE STREET LIGHTING 73,011 73,981 637,141 439.836 0.63%
TOTAL PRIVATE CONEMERS 50.138.805 51,769.186 348.162.870 353.394.602 1.47%
MUNICIPAL BALKS:
STREET LIGHTING 239.353 338,739 1,434,633 1,437.863 -0.49%
HUNICIPAL BUILDINGS 735,068 774,496 4,807,845 41810.631 0.06%
TOTAL HUNICIPAL CONSUMERS 974,330 1.013.235 6.342,477 6.338.683 -0.06%
SALES FOR RESALE 204,355 330.686 11766,870 1.608.233 3.34%
SCHOOL 1,219,635 1.297,363 6,584,331 61605,841 0.33%
TOTAL KILOWATT HOURS SOLD 53.537.005 14.]10.489 ]63.756.{38 361.917.359 1.43%
TOWN OF READING. HABBACUDSBTTO
MUNICIPAL LIGHT DEPARTMENT
KILOWATT HOME 80LU BY TOWN
11/31/13
TOTAL READING LYNNPIELD M.RRADING WILMINGTON
MONTH
RBSIDEMIAL 30.533.493 6.563.015 3.740,876 4,7]4,1]0 6,495,433
COMM 4 IND 31,171,712 3,098,673 244,930 5.048,440 3119791663
PVT ST LIGHTS 73,901 13.585 1.360 31.730 37.306
PDB 8T LIGHTS 238,739 80,536 33,800 41,176 84,527
MUNI SLUGS 771,496 235,694 135,763 150.302 ]6].757
SALES/RESALE 230,686 230,686 0 0 0
SCHOOL 3,297,383 446,333 303,531 175,080 392,549
TOT. 54.310,489 11.458.430 3.130.988 10.160.878 39.352.1J3
YEAR TO DATE
RESIDENTIAL 137,608,075 43,694,37% 20,030,801 31,93].]13 43.031,703
COPM A IND 315,145,891 16.612,060 1,647,373 33,112.087 153.764,471
PVT 8T LIOMIB 439,836 81,510 8.160 1]8.]91 121,874
P00 8T LIGHTS 1,427.061 483,116 194,960 243.534 507,161
NOMI HLDOB 4,810,811 1,141,751 0571999 991,100 1,819,791
SALES/RESALE 1,808,233 1,808,133 0 O 0
SCHOOL 6,605,941 3,336,385 1,445,590 810,000 11995,166
TOTAL 367,917.35975.167.434 ]4.184.4036Z 215,196 ]01,340.146
LAST YEAR
TO DATE
RESIDENTIAL 133.931,153 41,766,956 19.324,409 31,034,039 41,006.749
C. A IND 113,793,576 16,819,659 1,710,808 33,201,774 151,051,255
PVT ST LIGHTS 437,141 $3.036 8,160 137,708 317,435
POB ST LIGHTS 1.434,633 481,716 194,623 139,330 517,974 •
MUNI BLUSH 4,007.845 1.146,340 8]9.116 989.999 1,843.390
BALES/R88AL8 1,766,870 1.766,070 0 0 0
SCHOOL 6.584.111 1.343,730 1.477,970 844,800 1,917,713
TOTAL 36].786,138 74.410.109 13.5$5.113 66.1]7.640 198.353.516
KILOWATT HOURS SOLD TO TOTAL
MONTHTOTAL READING LYNNPIELO NO.READING HILMINST..
RESIDENTIAL 37.79% 12.08% 5.05% 8.70% 11.96%
COME A IND 57.40% 7.18% 0.45% 9.30% 40.47%
PVT ST LIGMPS 0.14% 0.034 0.00% 0.04% 0.07%
PUB 8T LIGHTS 0.44% 0.15% 0.06% 0.08% 0.15%
MUNI ELDDS 1.43% 0.42% 0.13% 0.28% 0.48%
SALES/RESALE 0.41% 0.421 0.00% O.OD% 0.00%
SCHOOL 3.38% 0.03% 0.53% 0.321 0.71%
TOTAL 100.001 11.10% 6.334 18.72% 53.851
YEAR i0 DATE
RESIDENTIAL 37.43% 11.60% 5.44% 8.60% 11.70%
COME A IND 58.48% 7.14% 0.45% 9.00% 41.79%
PVT ST LIGHTS 0.11% 0.011 0.00% 0.03% 0.06%
PUS ST LIGHTS 0.39% 0.13% 0.05% 0.07% 0.14%
NOMI BLOBS 1.31\ 0.311 0.13% 0.37% 0.50%
BALES/RESALE 0.49% 0.49% 0.00% 0.00% 0.00%
SCHOOL 1.80% 0.63% 0.39% 0.23% 0.55%
TOTAL 100.00% 30.4]$ 6.561 -15 26% 54.74%
TO DATE
RESIDENTIAL 36.93% 11.51% 5.33% 0.56% 11.51%
COMN A IND 58.93% 7.39% 0.47% 9.15% 41.91%
PVT ST LIGHTS 0.12\ 0.01% 0.00% 0.04% 0.06%
POS ST LIGHTS 0.39% 0.13% 0.05% 0.07% 0.14%
MUNI ELUDE 1.33% 0.31% 0.23% 0.17% 0.51%
SALES/RESALE 0.49% 0.49% 0.00% 0.00% 0.00%
SCHOOL 1.021 0.65% 0.41% 0.23% 0.53% •
TOTAL 100.00110.51% 6.49\ 10.31% 54.68%
161
TOWN OF READING, MASSACHUSETTS
MIMICIPAL LIGHT DEPARTMENT
POMLA INCOMR
13/31/13
TOTAL OPERATING REVENUES (P.3) 43,872,457.41
ADD:
POLE RENTAL 0.00
INTEREST INCOME ON CUSTOMER DEPOSITS 406.54
LESS:
OPERATING EXPR]SEE (P.31 (41.165,543.84)
CUSTOMER DEPOSIT INTEREST EXPENSE (3.607.85)
FG.OA INCOME (LOSS)
171
TOM OF READING. MABEACHUSETTS •
NONICIPAL LIGHT DEPARTMENT
GENERAL STATISTICS
13/31/11
MONTH OP NO.H OF \ CNANGB YEAR TEED
DEC 3011 OEC 3011 2011 1011 DEC 1011 DEC 3013
SALE OP EMN (P.5) 51,537,005 54,310,489 -2.72% 1.43E 30,756.439 367,927,359
E PURCHASED 59,123,501 59.364,911 -2.55% 2.37E 394,029.447 30,883,746
AVE EASE COST PER &WH 0.034239 0.038305 -5.94% 8.94% 0.034660 0.037722
AVE EASE RALE PER KW 0.065526 0.065429 3.88% -0.30% 0.064880 0.064606
AVE MST PER ARE 0.004444 0.086529 -5.55% -1.05% 0.096553 0.084775
AVE SALE PER RAH 0.120532 0.120439 -1.43% -4.05% 0.118437 0.113630
PURL CEARGE REVENUE (P.3) 2,0$9,02.54 3,987,105.82 -9.71% -7.29% 19,42B.151.66 19.010,954.68
I. FACTOR 74.74% 74.66%
PEAR LOAM 108,371 108.921
•
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TOW OF READING, YASSACH088TT4 .
NONICIPAL LIG= DEPARTED"
SCHEDULE OF CASH AND INVBBIHWIS
12/31/12
SCHEDULE A
PRNIOUB TEAR CURRENT YEAR
ONRESTRICTBO CASH
CASH - OPERATING PUSH) 8,843,998.72 11.1]1.000.9]
CASH - PRTTY CASH 3.000.00 3,000.00
TOTAL UNRESTRICTED CASH 8.846.990.]2 11.1]4.060.9]
RESTRICTED CASH
CASH - DEPRECIATION POND 4,125,756.98 3.458.260.56
CASH - TOW PAYMENT 290,000.00 0.00
GSH - DEFERRED PVEL RESERVE 2,]2],536.]] 1,972,193.64
CASH - RATS STABILIZATION POND 6,066,873.15 6,686,773.58
CASH - UNCOLLBCTIBLB ACCTS RESERVE 200,000.00 200,000.00
CASH - BICE LEAVE BENEFITS 2,952,113.09 2,986,310.21
CASH - HAZARD WASTE RESERVE 150,000.00 150,000.00
CASH - CUSTOMER DEPOSITS 600.918.69 659,170.42
CASH - ENERGY CONSERVATION 15],69].30 218,231.21
CASH - OPBB 1,1]2,60].03 1,346,399.03
TOTAL RESTRICTED CASH 16.951.]83.01 1].6]].J08.65
•
TOTAL CASH BALANCE 3L 298.]81.]3 36.851.169.62
•
M
TOWN OF READING, HA88ACNO9¢TT8
MUNICIPAL LIGHT DEPARTHRIFT
SCHEDULE OF ACCOUNTS RECEIVABLE
13/31/13
SCHEDULE E
PREVIOUS YEAR CURRENT YEAR
SCHEDULE OF ACCOUNTS RECEIVABLE
RESIDENTIAL AND COMERCIAL 3,541,093.31 3,355,059.33
ACCOUNTS RECEIVABLE - OTHER 09,069.88 136,408.06
ACCOUNTS RECEIVABLE - LIENS 69,806.61 46.198.30
ACCOUNTS RSCSIVABLB - 81@LOY¢8 ADVANCES 893.14 893.14
SALES DISCOUNT LIABILITY 1395,539.]]1 (3]8,033 59)
RESERVE FOR UNCOLLBLTIELE ACCOUNTS (399.899.33) (154.069.94)
TOTAL ACCOUNTS RECEIVABLE BILLED 3,105,383.84 3,003.365.19
UNBILLED ACCOUNS6 RECEIVABLE 4,030,394.33 4,915.936.83
TOTAL ACCOUNTS RECEIVABLE, NHS 3.935.633.31 3.933.303.03
SCHEDULE OF PREPAMENT8
PREPAID INSURANCE 1,334,999.53 1,313,946.94
PREPAYMENT PURCHASED POWER 354,014.33 330.434.89
PREPAYMENT PASNY 230,330.15 341,849.33
PREPATRENT WATSON 155,415.05 104,914.35
PURCHASED POWER WORMING CAPITAL 14,533.30 14,533.30
TOTAL PREPAYMENT 1.983.383.95 1.989.659.10
ACCOUNTS RECeIVAHL¢ ADING O8C@IBBR 3013:
RESIDENTIAL AND COIMERCIAL 3,355,059.33
LESS: SALES DISCOUNT LIABILITY (338,033.39)
GENERAL LEDGER BALANCE 3.033.835.93
CURRENT 3,683,330.60 83.16%
30 DAYS 354,438.48 8.33%
60 DAYS 50.833.35 1.65%
90 DAYS 33.394.93 0.36%
OVER 90 DAYS 66,568.60 3.16%
TOTAL 3.033.835.53 —iii.o6E
Iv01
— OF READING, MASSACHUSETTS
NUNICI PAL IT= DEPARTMENT
SCHEDULE OPOPERATING REVSN06
12/31/13
SCHEDULE D
NONTH NORTH LAST YEAR CURRENT YEAR YTD 4
SALES OF BLOCTRICITY: LAST YEAR CURRENT YEAR TO DATE TO DATE CHANGE
RESIDENTIAL SALES 3,545,649.80 2,)29,606.4) 17,645,150.85 1),433,34].06 -1.20%
COMM AND INDUSTRIAL SALES 3,491,2)).64 3.503,166.95 23,511,061.02 22,663,569.84 -3.60%
PRIVATE STREET LIGHTING 6,312.50 6,31161 41,380.55 34,976.18 -15.48%
TOTAL PRIVATE CONSUMERS 6.043.]39.94 6.]39.006.03 41.19) 613 4] 40,131,800.05 -2.59%
NUNICIPAL SALES:
STREET LIGHTING 30.456.60 39.316.83 196,009.99 169.102.13 -13.73%
MUNICIPAL BUILDINGS 91.235.04 94,303.63 505,854.30 556.189.90 -5.06%
TOTAL MUNICIPAL CONSUMERS 121,691.72 123.619 46 781.864.29 )]5.293.03 -7.349
SALES FOR RESALE 35,359.33 28,550.73 316,922.17 212.524.20 -2.03%
6CHDOL 142,075.59 149,2)9.1] 767,492.74 )40.962.6) -3.464
SOB-TOTAL 6,332,366.58 6,540.543.34 42,963,891.62 41,810.666.90 -2.60%
•
PoRPEISeD OI6COUMI9 65,913.06 73.051.91 478,566.33 510,820.16 6.744
PURCHASED TONER CAPACITY (9,903.48) 164,559.67 (68,914.26) 1.114.191.34 -1)16.)8%
ENERGY CONSERVATION - RESIDENTIAL 19.067.96 20.537.34 110,545.93 13),]63.53 24.62%
ENERGY CONSERVATION - CQMNRRCIAL 32,670.61 32,939.16 106,949.81 324,480.52 20.00%
GAN REVENUE 52,561.03 54,323.79 362,764.83 36),)99.21 1.39%
NYPA CREDIT (63.455.95) (68.965.36) (346,403.241 (293.264.30) -15.34%
TOTAL REVENUE 6.4]9.139.816.816.9)9.]5 43.68),400.91 41,8]3.45).41 0.43%
•
Ivl)
TOWN OF READING, MASSACHUSETTS
MUNICIPAL LIGHT DEPARTMENT
SCHEDULE OP OPERATING REVENUE BY TOWN
12/31/12
TOTAL READING LYNNPIELD NO.READING WILMINGTON
MGWN
RESIDENTIAL 2,]29,606.4] 875,503.33 363,300.08 627,719.)3 063,083.33
INDUS/MUNI BLDG 3.597,469.58 495,752.33 46,108.35 595,397.06 2.460,311.94
PUB.ST.LIGHTS 29,316.83 9,500.30 3,795.53 5,147.59 10.793.41
PRY.BY.LIGHTS 6,312.61 1,143.34 114.44 1,913.21 3.141.63
CO-OP RESALE 38,558.73 18,558.73 0.00 0.00 0.00
SCHOOL 149,379.12 51,780.94 32,093.00 20,529.64 44,075.54
TOTAL 6.540.54J.341.f62,31B.0] 445.411.40 3.250.60].23 3.383.205.84
THIS YEAR TO DATE
RESIDENTIAL 17,433,343.06 5,427,399.50 2,520,672.58 4,030,048.41 5,447.221.57
INDUS/NOIR BLDG 23.219,]59.]4 3,130,326.92 207,025.33 3,699.297.06 16,103,110.44
PUB.ST.LIGHSS 169,102.13 54,663.12 21,629.72 31,007.29 61,802.00
PRV.ET.LImITE 34,976.18 6,392.22 639.08 10.564.41 1),300.4]
CO-OP RESALE 212,524.20 212,524.30 0.00 0.00 0.00
SCHOOL ]40,962.6] 364,439.69 160.141.19 95,717.76 220,664.03
TOTAL11.810,666.98 9.095.745.65 2.990.10].8] ],B]4,634.94 31,E 50,1]8.52
LAST YEAR TO DATE
RESIDENTIAL 17.645,150.85 5.515,974.62 2.538,956.71 4.077.936.03 5,512.203.49
INDUS/MONI BLDG 24.096.935.32 3.275.568.36 304,845.34 3.856.690.00 16,659,831.72
PUB.ST.LIGHTS 196.009.99 63.310.01 24,284.21 34,849.]) 73.557.19
PRV.BT.LIOHTS 41.380.55 7.)5).46 750.10 12,713.64 20.151.95
CO-OP RREALE 216.933.17 216,922.17 0.00 0.00 0.00
r SCHOOL ]6],492.74 276.372.32 168,673.67 100.725.43 121.821.32
V TOTAL 43,963.891.61 9.355,814.09 03).518.048.082,913.07 11.48].645.67
PERCENTAGE 01 OPERATING INCOME TO TOTAL
TOTAL READING LYNNPISLO NO.READING WILMINWON
MONTH
RESIDRNTIAL 41.73% 13.39% 5.55% 9.60% 13.19%
INDUS/MUNI BLDG 55.00% 7.58% 0.70% 9.10% 37.62%
PUS.ST.LIOIRS 0.45% 0.15% 0.06% 0.08% 0.16%
PRV.ST.LIGNTS 0.10% 0.02% 0.00% 0.03% 0.05%
Ctl-OP NASALS 0.44% 0.44% 0.00% 0.00% 0.00%
SCHOOL 2.20% 0.79% 0.49% 0.31% 0.69%
TOTAL 100.004 22.37% 6.80% 19.12% 31.71%
THIS YEAR TO DATE
RESIDENTIAL 41.70% 12.98% 6.034 9.66% 13.03%
INDUS/MUNI BLDG 55.54% 7.494 0.69% 8.85% 38.51%
PUB.ST.LIOHTS 0.40% 0.13% 0.05% 0.07% 0.15%
PRV.ST.LIGHTS 0.08% 0.03% 0.00% 0.03% 0.03%
CO-OP RESALE 0.51% 0.51% 0.00% 0.00% 0.00%
SCHOOL 1.774 0.63% 0.38% 0.23% 0.53%
TOTAL 100.004 2I 71% ].154 18 B4% 52.35\
LAST YEAR TO DATE
RESIDENTIAL 41.07% 12.84% 5.91% 9.49% 11.83%
INDGB/MUNI BLDG 56.09% 7.62% 0.71% 8.98% 38.78%
PUS.ST.LIGMB 0.46% 0.15% 0.06% 0.08% 0.17%
PRV.ET.LIGNTS 0.10% 0.02% 0.00% 0.03% 0.05%
N-OP RESALE 0.50% 0.50% 0.00% 0.00% 0.00%
4 SCHOOL 1.78% 0.64% 0.39% 0.23% 0.52%
TOTAL 100.004 21.]74 ]A)% 10.014 52.35%
u lAl
YOUR OF READING, MASSACHUSETTS
MONICIPAL LIGHT DEPARTMENT
SUKMTED REVENUE VARIANCE REPORT
12/31/13
SCHEDULE P
ACTUAL RODNEY $
YEAR TO DATE YEAR TO DATE VARIANCE • CNANGB
SAL88 OF ELECTRICITY,
RESIDENTIAL 10,693,389.36 10,985,575.00 (393,185.74) -2.66%
CONE AND INDUSTRIAL SALES
PRIVATE STREET LIGHTING 13,469,006.97 12,004,430.00 1415,431.031 -3.23%
MUNICIPAL BUILDINGS
PUBLIC STREET LIGHTING 90,891.00 101,336.00 (3,435.00) -3.40%
SALES FOR RESALE 134,]8].91 145,408.00 (31,200.09) -14.57%
SCHOOL 414.137.16 433.399.00 (9,361 84) -3.19%
TOTAL BASE SALES 23,]99,]12.30 24,540,216.00 (740,503.70) -3.02%
TOTAL FUEL SALES 18,010.954.68 16.303.330.00 1.627,624.60 9.93%
TOTAL OPERATING REVENUE 41,810.666.98 40,933,546.00 007,120.94 3.17%
•
PORPBIT80 DISCOUNTS 510,830.16 519,084.00 (39,063.89) -5.38\
PURCHASED POWER CAPACITY 1,114,191.34 1,130,893.00 (6,700.66) -0.60%
ENERGY CONSERVATION - RESIDENTIAL 13],]63.53 136,130.00 1,635.53 1.19\
ENERGY CONSERVATION - CONNURCIAL 234.48D.52 233,885.00 (9,404.48) -4.02%
GAM R... 36],]99.31 370,023.00 (2,233.79) -0.60%
PAS" CREDIT (293,364.30) (349,998.00) 56,]33.]0 -16.31%
TOTAL OPERATING REVENUES 43.B73.457.44 43.9)4.]]0.00 898.087.44 3.09\
' ( ) ACTUAL UNDER BUDGET
•
11ie1
SONE 0P READING, NAMACBUSEXTS
NONxc1eAL LIGHT DBPARTHENT
B,MDULi OP OPERATING EXPENSES
13/31/12
SCNRDULB E
NOME NOME LAST YRAR CURRENT XNAN YTD
OPERATION EIPENSEB: LAST YEAR CURRIER YEAR TO DATE TO DATE CNANGE
PURCHASED PUMP EASE EXPENSE 2,02] ]00.07 2,268.056 90 12.963,949.90 14,443.198.80 11.43%
OPERASZON SUP AND ENGINEERING SEP 45,354.17 36,686.24 277,195.43 259,584.04 -6.35%
STATION SUP LABOR AND NISC 21051.26 2,107.19 59.170.27 36,396.42 -38.50%
LINE NISC LABOR ANO EXPENSE 62,562.63 63.980.57 346.435.03 338,015.00 -2.43%
STATION LABOR AND EXPENSE 46,456.58 30,082.30 353,185.82 273,878.81 8.17%
STREET LIGHTING EXPENSE 13.172.07 0.139.05 53.903.04 39.078.71 -27.50%
MIER EXPENSE 22.205.05 14,166.04 142.245.59 92,169.77 -35.20%
NISC DISTRIBUTION EXPENSE 32,063.94 28.025.96 169.172.55 170,903.21 1.02%
ERTEN READING LABOR 6 EXPRNS8 7.454.59 6.867.90 46,876.70 45.256.59 -3.39%
ACCT 6 COLL LABOR A EXPENSE 135.912.02 136.721.81 699,064.15 755.193.40 8.03%
ONCOLLBCSIBLE ACCOUNIS 16,000.00 0.333.33 96,000.00 49,999.99 -47.92%
ENERGY AUDIT EXPENSE $6.799.71 35.891.84 231,866.34 234,891.04 1.30%
AUNIN 6 0m SALARIES 80,791.15 65,415.46 382,090.70 379,930.17 -0.57%
OFFICE SUPPLIES 6 EXPENSE 31,041.SB 19,916.46 107,472.21 110,339.90 10.11%
OUTSIDE SERVICES 12.110.74 16,009.47 187.354.85 199.101.09 6.27%
PROPERTY INSURANCE ]6,]73.12 31.670.32 195.301.71 190.317.42 -2.55%
INJURIES ANO GAMINS (5,739.24) 3,940.15 3.950.05 23,102.29 486.21%
MPLOWES PENSIONS A BENEFITS 96238.97 272,340.48 744,403.05 1,096,174.21 47.271
NISC GENERAL EXPENSE 34,040.04 17,819.61 111,815.58 100,413.74 -10.20%
REST EXPENSE 14,733.40 13,827.16 96,196.13 103,750.18 5.64%
ENERGY CONSERVATION 791984.00 22,302.78 310,386.72 437,173.87 40.85%
TOTAL OPEMTION EXPENSES 417,614.11 842,34Q.12 4,516,104.02 1 4J 99.04 9.47
MINTBNANCE EXPANSES;
MINT OP TRANBNISBION PLANS 227.00 227.00 1.362.50 1.362.50 0.00%
MINT OF STRICT AND SQUIPNT 16,403.91 10,836.54 111.677.69 65,231.98 -41.59%
MINI OP LINBB - ON 123,437.52 135,935.15 9]9.614.]8 764,349.42 -17.70%
MINT OF LIMB - UG 21,543.60 19,639.61 105,801.17 78.872.00 -25.51%
MINT OF LING TRANSFORMERS 7,160.00 14,483.32 39,576.62 33,907.15 -14.13%
MINT OF ST IT 6 SIG SYSSEN (25.40) (5.67) (302.48) (350.07) -17.33%
MINT OF GARAGE AND STOCRROON 43.146.76 43,061.80 140.878.77 238.782.38 -4.06%
MINT OF X87688 8.182.30 1,106.94 40.153.46 18.097.55 -52.94%
MINT OP OW PLANT 5.877.35 8.531.23 41,213.42 51,972.99 25.14%
TVSAL MINIMANCR EXPENSES 225.953.12 233.015.92 1.510.055.53 1.252.805.90 -17.47%
DEPRECIATION EXPENSE 296,027.47 305,469.18 1.776.164.82 1.832,815.08 3.19%
PURCHASED POMP FUEL EXPENSE 2,968.917.38 2,868.712.69 19,409,436.43 10.015.541.22 -7.18%
VOLUNTARY PAYMNT6 TO TOMS 109,186.00 107,383.00 674,186.00 677,383.00 0.47%
TOTAL OPERATING EXPENSES 6.441.390.95 6.625.777.81 40.057,976.]0 41.165.543.04 0.75%
It]
TOMB OF READING, MASSACHUSETTS
MUNICIPAL LIGHT DEPARTMENT
BUOOHTBD OFRMTIN0 EXPENSE VARIANCE REPORT
12/31/12
SCMHDULB G
ACTUAL BUDGET i
OPERATION EXPENSES: YEAR TO MTH YEAR TO DATE VARIANCE • CHANGE
PURCMSHD POWER BMR EXPENSE 14.141.198.80 15.689.883.00 11.246.684.201 -7.95%
OPERATION SUP AND ENGINEERING HER 259,584.04 235,949.00 23,635.04 10.02%
STATION SUP LABOR AND MISC 36,396.42 41,120.00 (4.]23.381 -11.49%
LINE MISC LABOR AND EXPENSE 338,015.00 328,256.00 9,759.00 2.97%
STATION LABOR AND EXPENSE 273,078.81 223.269.00 50,609.81 22.67%
STREET LIGHTING EXPENSE 39,078.71 41,921.00 (2,042.29) -6.78%
METER EXPENSE 92,169.77 74,162.00 18,007.77 24.28%
MISC DISTRIBUTION EXPENSE 170,903.21 183,936.00 113,032.791 -7.09%
PETER READING LABOR A EXPENSE 45.286.59 51,159.00 (5,8]2.41) -11.48%
ACCT B COLL LABOR R EXPENSE 755.193.40 609,215.00 65,978.40 9.57%
UNCOLLECTIBLE ACMUNTS 49,999.90 49,990.00 1.90 0.00%
ENERGY AUDIT EXPENSE 234,891.04 241,915.00 (7.023.96) -2.90%
ADMIN A GEN SALARIES 379,930.17 382,373.00 (2,442.83) -0.64%
OFFICE SUPPLIES A EXPENSE 118,339.90 126,992.00 (6,652.10) -6.01%
OUTSIDE SERVICES 199.101.09 339.164.00 (140.062.91) -41.30%
PROPERTY INSURANCE 190,317.42 235.758.00 (45.440.58) -19.27%
INOURIEB AND DAMAGES 23,202.29 28,553.00 (5.350.71) -10.74%
EMPLOYERS PENSIONS A BENEFITS 1,096,174.21 942,756.00 153.410.21 16.27%
MISC GENERAL EXPENSE 100,413.74 138,599.00 (10,185.26) -15.33%
RENT EXPENSE 103.750.18 106,002.00 (3.251.82) -2.12%
ENERGY CONSERVATION 43].1]3.87 359.725.00 77,440.87 21.53%
TOTAL OPERATION EXPENSES 4.99).]99.04 1.800 82].00 142.9]].84 2.90%
MAINTENANCE EXPENSES: •
MAINT OF TRANSMISSION PLANT 1,362.50 1.500.00 (137.50) -9.17%
MAIM OF STRUCT AND OQUIPI®iT 65.231.90 60,088.00 51143.98 8.56%
MAIM OF LINES - ON 764,349.42 603,446.00 160,903.42 26.66%
PAINT OP LINES - UG 70,072.00 83,007.00 (4,135.00) -4.98%
MAIM OF LINE TRANSFORMERS 33,987.15 94,242.00 (60,254.85) -63.94%
MAIM OF ST LT A SIO SYSTEM 1250.071 4,800.00 (5,130.07) -105.12%
MAIM OF GARAGE AND ST0CKROOM 238,782.30 330,693.00 (92,110.62) -27.84%
MAIM OF METERS 18,697.55 37,646.00 (18,748.45) -49.00%
MAIM OF GEN PLANT 51,572.99 65,556.00 (13,983.01) -21.33%
TOTAL MAINTENANCE EXPENSES 1.252.805.9E 1.281.258.00 (20.452.10) -2.22%
DEPRECIATION EXPENSE 1,832,015.0E 1.825.002.00 7.013.08 0.43%
PORCHASEO PONER FUEL EXPENSE 18,015,541.21 16,906.395.00 1,029,146.22 6.06%
VOLONTARY PAYMENTS TO T0PU 677,383.00 684.000.00 (6.617.00) -0.97%
TOTAL OPERATING EXPENSES 41.165.543.04 91.16].160.00 1101.016.161 -0.25%
• 1 ACTUAL UNDER BUDGET
•
TOWN OF READING, NASSACHUMTTS
MUNICIPAL LIGHT DEPARTMENT
BUDGETED OPERATING EXPENSE VARIANCE REPORT
3131112
RESPONSIBLE REMAINING
SENIOR 2013 ACTUAL SOUGHT REMAINING
OPERATION EXPENSES: HANAUER ANNUAL BOUGHT YEAR TO DATE BALANCE BUDGET %
PURCHASED POWER SASE EXPENSE JP 30.102.742.00 14.443,198.80 15,659.543.30 52.02%
OPERATION SUP AND ENGINEERING EXP &S 460,949.00 259,584.04 309.364.96 44.65%
STATION SUP LABOR AND RISC HE 79:813.00 36,396.42 43,416.50 54.40%
LING RISC LABOR AND EXPENSE HE 671.309.00 330,015.00 333,294.00 49.65%
STATION LABOR AND EXPENSE HE 446,249.00 273.078.01 174,370.19 38.90%
STREET LIGHTING EXPENSE HE 83,106.00 39,078.71 44,027.29 52.90%
REFER EXPRESS HE 197,329.00 93,169.77 105,159.33 53.29%
NISC DISTRIBUTION EXPENSE HE 366,489.00 170,903.21 195.505.79 53.37%
ENTER READING LABOR R EXPENSE HS 69,946.00 45,386.59 34,659.41 35.25%
ACCT i COLL LABOR i EXPENSE RP 1,385,210.00 755,193.40 630,016.60 45.40%
=COLLECTIBLE ACCOUNTS RP 100,000.00 49,999.90 50,000.02 50.00%
ENERGY AUDIT EXPENSE JP 479,013.00 234,891.04 244,121.96 50.96%
MEIN i GEN SALARIES VC 761,068.00 379,930.17 301.137.03 50.00%
OFFICE SUPPLIES R EXPENSE VC 253,950.00 118,339.90 135.610.10 53.40%
OUTSIDE SERVICES VC 507,125.00 199,101.09 306,033.91 60.74%
PROPERTY INSURANCE AS 471,500.00 190.317.42 201.182.50 59.64%
INJURIES AND GARAGES RS 56.619.00 23.202.29 33.416.71 59.03%
EMPLOYEES PENSIONS R BENEFITS RB 1,889,623.00 1,096,174.21 793,448.79 41.99%
MISC GENERAL EXPENSE VC 200,785.00 100,413.74 100,371.26 49.99%
RENT EXPENSE AS 212.000.00 103,750.16 108,249.02 51.06%
ENERGY CONSERVATION JP 697.903.00 437.173.87 260,809.13 37.37%
TOTAL OPERATION EXPENSES 8.033.105.00 4.943.799.84 4.456.366.16 50.51%
MAINTENANCE EXPENSES:
`T MAIN[ OF TRANSMISSION PLANT RS 31000.00 1.362.50 1.637.50 54.50%
MAINT 0E HTRUCT AND EOUIPMT XO 114,120.00 63,331.94 48.880.02 42.84%
MINT OF LINES - ON HE 1,250,421.00 764,349.43 485.071.58 30.87%
MAINT OF LINES - UG HE 285.371.00 78,872.00 306,499.00 72.36%
MAINT OF LINE TRMSPORKERS AS 1BS.SOO.00 33,987.15 154.512.05 81.97%
MAINT Of ST LT R SIG SYSTEX HE 9.684.00 (250.07) 9.934.07 102.58%
MAINT OP GARAGE AND STOCHROOM HE 673,589.00 238.783.30 433,406.63 64.50%
MAIM OF PRIME M 47,392.00 16,897.55 28,494.45 60.13%
MAIM OF GHN PLANT RP 131,320.00 51.572.99 79,747.01 60.73%
TOTAL NAIM8NANC0 EXPENSES 2.817.401.00 1,252.805.90 1,449.591.10 51.45%
DEPRECIATION EXPENSE RP 3,650,000.00 1,833.815.04 1.817,184.92 49.79%
PURCHASED POMER FUEL EXPENSE TP 30,500.000.00 18,015,541.12 12,404,458.78 40.93%
VOLUNTARY PAYMENTS TO TONINS RP 1,368,000.00 677,303.00 690,617.00 50.40%
TOTAL OPERATING EXPENSES 83.767.500.00 41,165,54].84 ]6.557.661.16 43.64%
Pxai
TURN OF READING, NA88ACHUSBTTS
NONICIPAL LIGHT DEPARTNEM
PROFESSIONAL SERVICES
12/31/2012
PROFESSIONAL SERVICES BY PRO.SCT
IIM 08PARTMEr ACTUAL BUDGET VARIANCE
1 ESLD AND PENSION TRUST AUDIT PEES ACCOUNTING 32,750.00 32,250.00 500.00
2 PENSION ACTUARIAL EVALUATION ACCOUNTING 3,750.00 0.00 3,750.00
3 LEGAL- PBRC/I80 ISSUES ENERGY SERVICE 0.00 91000.00 (91000.00)
4 LEGAL- POSER SUPPLY ISSUES ENERGY SERVICE 10,142.10 22,500.00 (12,35].90)
5 PROFESSIONAL SERVICES ENERGY SERVICE 9,939.80 12.000.00 (2,060.20)
6 NERC CONPLIANCE AND AUDIT E G 0 6,870.00 10,000.00 (3,130.00)
] LOAD CAPACITY STUDY ENGINEERING 0.00 71500.00 17,500.00)
8 BIROS NARDSMUG STUDY ENGINEERING 0.00 50,000.00 (50,000.00)
9 LEGAL-GENERAL, gMBC AUDIT US 51.141.86 75,000.00 (23,858.14)
30 LEGAL BERVICRS-GENERAL HR 44,574.15 36,600.00 ],9]4.15
11 LEGAL SERVICES-MUOTIATIONS HR 13,457.96 36,800.00 (23,342.04)
12 LEGAL GENERAL BLDG. UAINT. 10,300.90 750.00 91550.90
13 SURVEY RIGHT OF NAY BLDG. SAINT. 0.00 2,502.00 (2,502.00)
14 BNVIRONXEMT BLDG. NAINT. 0.00 1,502.00 (21502.00)
15 ENGINEERING SERVICES BLDG. MAIM. 14,118.05 4,260.00 9,858.05
16 REPAIR RAM AND DECK AREA BLDG. SAINT. 0.00 30,000.00 (30,000.00)
17 INSURANCE CONSULTANT GEN. BENEFIT 0.00 4,998.00 (4,998.00)
18 LEGAL GEN. BENEFIT 0.00 2,502.00 (2,502.00)
19 SITE ASSBSSNeM FOR SAJOR UPGRADE ACCOUNTING 2,056.2] 0.00 2.056.2)
TOTAL 199,101.09 1J9,164.00 1110.063.911
•
PROFBSBIONAL 98RVICEB BY VENDOR
ACTUAL
HBLAN80N SEATS P COMPANY 32,750.00
HUDSON RIVER SNBRGY GROUP 2,895.80
STONE CONSULTING INC. 3,750.00
RUBIS AND NOONAN 25,853.91
UTILITY SERVICES INC. 6,070.00
DUNCAN 4 ALLEN 45,730.95
CROATS HALL 6 STEWART 53,260.11
RBNNIRS TORREY A SPENCER 12,385.55
RICSARD HIGGINS ARBITRATOR 2,710.00
GARRY NWTERS ARBITRATOR 2.062.00
CHEEC 7,044.00
M ASSOCIATES 1,732.50
COCSDALS 2.056.27
TOTAL 199.101.09
•
1131
RRLD
BUDGET VARIANCE REPORT
FOR PERIOD ENDING DECEMBER 31, 2012
DIVISION ACTUAL BUDGET VARIANCE CHANGE
ENGINEERING AND OPERATIONS 2,122,590 2,049,740 72,850 3.55%
ENERGY SERVICES 693,322 645,393 47,929 7.43%
GENERAL MANAGER 436,221 479,194 (42,973) -8.97%
FACILITY MANAGER 1,915,704 1,928,028 (12,324) -0.64%
BUSINESS DIVISION 4,674.288 4,622,727 51,561 1.12%
SUB-TOTAL 9,842,124 9,725,082 117.042 1.20%
PURCHASED POWER - BASE 14,443,199 15,689,883 (1,246,684) -7.95%
PURCHASED POWER - FUEL 18,015,541 16,986,395 1,029,146 6.06%
TOTAL 4300,864 42,401,360 (100,496) -0.24%
RNLD •
DEFERRED PDBL CASE RESERVE ANALYSIS
12/31/13
GR0SS MUTELY TOTAL
DATE CHARGES REVENUES NYPA CREDIT DEFERRED DSPERRSD
JUD-12 2,270,044.48
Jul-12 3,581,715.28 3,492.843.61 (61,106.90) (149,978.57) 2,120,065.91
Aug-12 3,578,611.20 2,914.978.35 (44,365.80) (707,998.65) 1,412,067.26
Say-12 2,646,309.32 3,486.749.45 (47,478.80) 792,961.33 2,205,028.59
Oct-12 2,595,375.45 2,389,147.98 (48,781.28) (255,008.75) 1,950,019.84
Nov-12 2,744,817.28 2,740,129.47 (23,566.16) (27,253.97) 1,922,765.87
Dac-12 2.868,712.69 2,987,105.82 (68,965.36) 49,427.77 1,972,193.64
0
•
RMLD
STAFFING REPORT
FOR FISCAL YEAR ENDING JUNE, 2013
13 BUD JUL AUG SEP OCT NOV DEC
TOTAL 12 12 12 12 12 12
GENERAL MANAGER
GENERAL MANAGER 2.00 2.00 2.00 2.00 2.00 2.00 2.00
HUNAN RESOURCES 1.00 1.00 1.00 1.00 1.00 1.00 1.00
CONNDNITY RELATIONS 1.00 1.00 1.00 1.00 1.00 1.00 1.00
TOTAL 4.00 4.00 4.00 4.00 4.00 4.00 4.00
BUSINESS
ACCOUNTING 2.00 2.00 2.00 2.00 2.00 2.00 2.00
CUSTOMER SERVICE •• 7.75 7.75 7.75 7.75 7.75 7.75 7.75
NGNT INFORNATION SYS • 6.25 6.00 6.00 6.00 6.00 6.00 6.00
MISCELLANEOUS 1.00 1.00 1.00 1.00 1.00 1.00 1.00
TOTAL 17.00 16.]5 16.75 16.75 Ifi.]5 16.75 16.75
ENGINEERING 4 OPER.TIONc
AGN EAO 2.00 2.00 1.00 1.00 1.00 1.00 2.00
ENGINEERING 5.00 5.00 5.00 5.00 5.00 5.00 5.00
LINE 21.00 21.00 21.00 21.00 21.00 21.00 21.00
METER 4.00 3.00 3.00 3.00 3.00 3.00 3.00
STATION 8.00 8.00 8.00 8.00 8.00 8.00 8.00
(( TOTAL 40.00 39.00 38.00 38.00 38.00 38.00 39.00
♦,PROTECT
BUILDING 2.00 2.00 2.00 2.00 2.00 2.00 2.00
GENERAL BENEFITS 2.00 1.00 2.00 2.00 2.00 2.00 2.00
TRANSPORTATION - - - - - - -
NATERIALS NGNT 4.00 3.00 4.00 4.00 4.00 4.00 4.00
TOTAL 8.00 6.00 8.00 8.00 8.00 8.00 8.00
ENERGY MRVTrRR
ENERGY SERVICES • 5.50 4.50 4.50 4.50 4.50 4.50 4.50
TOTAL 5.50 4.50 4.50 4.50 4.50 4.50 4.50
RNLD TOTAL 74.50 70.25 71.25 71.25 71.25 71.25 72.25
CONTRACTORS
DO LINE 2.00 2.00 2.00 2.00 2.00 2.00 2.00
TOTAL 2.00 2.00 2.00 2.00 2.00 2.00 2.00
GRAND TOTAL 76.50 72.25 73.25 73.25 73.25 73.25 74.25 ,
' part time employee
•N part time employee and a coop student
'^ part time employee and a temp
RMLDCO) ��q MmsE�iris,[Light Deparnnear
•r LIIeLL e• rOt ELXe IITIOXr
230 Ash 9aeu
P.O.Box 130
Retain&MA01967-02%
lbl:(791)944-1340
FIX:(MI)942-2419
9hb:a .nnl&.
January 22,2013
Town of Reading Municipal Light Board
Subject: Concrete Steps,Walkway&Railing Maintenance and Repair Work
On November 26, 2012 a bid invitation was placed as a legal notice in the Reading Chronicle requesting
proposals for Concrete Steps, Walkway & Railing Maintenance and Repair Work for the Reading Municipal
Light Department.
An invitation to bid was sent to the following 36 companies:
A.D Construction,Inc. A.H.Harris&Sons,Inc. ABCO Masonry
Accurate Masonry Affordable Masonry Services Alexander Masonry-Concrete
Architect Paving&Stone Arthur Masonry Bautista Masonry
BC Construction Co.,Inc. Bennett Masonry Boons s American Masonry
Brandy Masonry Capuano Masonry CCI
Ciano Development Corp.,LLC Coomey Restoration Inc. Costa Brothers Masonry
CSI Concrete Grove Construction,Inc.
'%a, JB Mohler Mason L ott Masonry
Masonry Lanz0lo&Sore,Inc. Leee Masonry&Stone Scape
Lighthouse Masonry,Inc. M.DeBlasio Co. M.J.Brigugho Masonry&Tile
Macauley Majestic Masonry Minnock Masonry
New Age Masonry Newport Construction Corp. PCM Construction
RBL Masonry,Inc. RS Hurford Co.,Inc. Tim Zanelli Excavating
Bids were received from eight companies; BC Construction Co., Inc., Contracting Specialists, East Coast
Development Infrastructure,HELM Corp.,RS Hurford Co.,Inc.,Tim Zanelli Construction and US Pavement.
The bids were publicly opened and read aloud at 11:00 a.m. December 19, 2012 in the Town of Reading
Municipal Light Department's Audio Visual Spurr Room,230 Ash Street,Reading,Massachusetts.
The bids were reviewed, analyzed and evaluated by the Interim General Manager and the staff. Move that
bid 2013-15 for: Concrete Steps, Walkway & hailing Maintenance and Repair Work be awarded to:
Infrastructure for $17,760.00 as the lowest qualified and responsive bidder on the recommendation of the
Interim General Manager.
The FY2013 Operating Budget amount for this item is$30,000.00.
J(�t--
Kenn S"van
David Polson
pnr e
Paula O'Leary
ATTACHMENT
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Jeanne Foti
om: Jeanne Foti
Sent: Tuesday,January 22,2013 3:30 PM
To: RMLD Board Members Group
Cc: Kevin Sullivan
Subject: Account Payable and Payroll Questions
Tracking: Recipient Delivery Read
RMLD Board Members Group
Kevin Sullivan Delivered:1/22/2013 3:31 PM Read:1/22/2013 5:45 PM
Good afternoon.
Since the RMLD Board meeting Wednesday, November 28, 2012 there were no Account Payable and Payroll
questions. This includes the following:
Account Payable Warrant
November 23, November 30, December 7, December 14, December 21, there was no AP December 28,January 4,
January 11, January 18.
layroll
41",
December 3, December 17, December 31,January 14.
In an effort to save paper, this e-mail will appear in the"E-Mail responses to Account Payable/Payroll Questions"for the
RMLD Board meeting,Wednesday, January 30, 2013.
Thanks.
Jeanne Foti
Executive Assistant
Reading Municipal Light Department
781-942-6434 Phone
781-942-2409 Fax
Plea.consider the environment before printing this e-mail.
1