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Home My WebLink About2015-05-28 RMLD Board of Commissioners MinutesOWN OFTj Town of Reading M Meeting Minutes WSJ •ttrc0Pa�PP Board - Committee - Commission - Council: RMLD Board of Commissioners Date: 2015 -05 -28 Building: Reading Municipal Light Building Address: 230 Ash Street Purpose: General Meeting Attendees: Members - Present: Thomas O'Rourke, Chairman David Talbot, Vice Chair Philip B. Pacino, Commissioner John Stempeck, Commissioner Secretary Pro Tern Dave Hennessy, Commissioner Members - Not Present: Others Present: Time: 7:30 PM REC IV[ TOWN CLERK READING, 8 P12: �8 Location: Winfred Spurr Audio Visual Room Session: General Session Coleen O'Brien, General Manager Hamid Jaffari, Director of Engineering & Operations Jane Parenteau, Director of Integrated Resources Jeanne Foti, Executive Assistant Peter Price, Chief Engineer Robert Fournier, Accounting /Business Manager Minutes Respectfully Submitted By: John Stempeck, Secretary Pro Tern Topics of Discussion: Reading Municipal Light Department Board of Commissioners Regular Session 230 Ash Street Reading, MA 01867 May 28, 2015 Start Time of Regular Session:6:47 p.m. End Time of Regular Session: 8:25 p.m. Commissioners: Thomas O'Rourke, Chairman David Talbot, Vice Chair Philip B. Pacino, Commissioner John Stempeck, Commissioner — Secretary Pro Tern Dave Hennessy, Commissioner Staff: Coleen O'Brien, General Manager Jeanne Foti, Executive Assistant Hamid Jaffari, Director of Engineering & Operations Peter Price, Chief Engineer Jane Parenteau, Director of Integrated Resources Robert Fournier, Accounting /Business Manager Page 1 1 Call Meeting to Order Chairman O'Rourke called the meeting to order and stated that the meeting was being videotaped; it is live in Reading only. Opening Remarks Chairman O'Rourke read the RMLD Board of Commissioners Code of Conduct. Introductions Commissioner Stempeck will be the Secretary this evening. Citizens' Advisory Board Normally there is Citizens' Advisory Board representation at the meeting. Mr. Nelson is absent due to a last minute illness and the other CAB members had prior commitments. Public Comment There was no one present. Review of RMLD's Fiscal Year 2016 Operating Budget (Attachment 1) Ms. O'Brien stated that the Citizens' Advisory Board voted and approved to recommend both, the Capital and Expense Operating Budgets. This meeting completes the second phase of the RMLD budget. Ms. O'Brien reminded the Board that the budget was changed to a six year plan last year, which shows Fiscal Year 2015 year to date, Fiscal Year 2016, which will be voted on along with four additional years up to Fiscal Year 2020. This is intended to match our long term strategic plan, capital improvement plan and shows what to expect by going out five years. Ms. O'Brien noted that after the Organizational Study presentation, in addition to some comments she made at the meeting in April, the operating ratio which ensures sufficient margin when sales are down, was not where it should be. Instead of setting the rate of return around five to six and one half percent it is set closer to eight percent to ensure that the operating ratio is at the correct level. Ms. O'Brien commented that the efficiencies of the work processes, were also part of the Organizational Study. Tremendous strides have been made in improving those, as well as reducing costs with six vacancies. There is not a question of whether RMLD's expenses are too high because of inefficiencies, many of those are being addressed and worked on. Ms. O'Brien said that she feels confident that these increases are necessary next year. Ms. O'Brien stated that we are now having financial meetings monthly to look at the budget to actual which was in nonexistent in the past. Ms. O'Brien stated that there was also a minus one percent load growth from 675 kilowatt hours to 668 kilowatt hours. Ms. Parenteau began her review of the Fiscal Year (FY) 2016 Operating Budget by noting the driving factor for RMLD to achieve the bottom line or rate of return is driven by the base revenues. Purchase power in terms of base, capacity, transmission and energy is a pass through to the customers. Whenever those costs come in they are passed right through directly back to the customers and there is no return made. The RMLD makes its return on the base revenues. Ms. Parenteau stated that when this budget was developed for FY 2015 the base revenue is anticipated to come in around $21.4 million. When that is followed through to the bottom line the rate of return is a little over six percent. As Ms. O'Brien mentioned, in order for RMLD to increase that operating reserve margin in the event of decreased sales, it is necessary to achieve base revenue of around $23 million. Our group reviewed all the different rate classes and applied the increase to the base portion as well as to the purchase power capacity, transmission and energy, depending upon the rate class because how much energy is used and what the demand is it varies amongst customer class and usage. Ms. Parenteau stated that when looking at all the rate classes in order to achieve the $23 million, the average across all the rate classes is around a three percent overall rate increase. Ms. Parenteau explained that number is critical in flowing through the balance of the expenses to achieve the net income of a little over $3 million. Going out for the next four or five years, it will be necessary for additional base increases because our expenses are going up: insurance, gasoline, fuel, non purchased power, purchased power, as well as transmissions which is going to increase significantly. The RMLD will track and develop programs to minimize the impact for the increases, in order that the pass through is as small as it can be. There definitely will be an increase to our customers and we are trying to maintain those in an efficient manner. Mr. Stempeck commented that the range of three percent is much smaller than the investor owned utilities such as NSTAR and Eversource that are going up twenty to thirty percent. Page 1 2 Review of RMLD's Fiscal Year 2016 Operating Budget (Attachment 1) Ms. O'Brien noted that she lives in a National Grid area, for 771 kilowatt hours after an LED conversion the electric bill decreased from $120.00 to $80.00. With the recent increases by National Grid she is currently paying $170.00 for the same kilowatt hours. This provides you an idea as to how much their rates have increased. Ms. O'Brien stated that proactively in order to convey this information, we had meetings with all four towns, the Town Managers /Administrators as well as the Selectmen, where they were told for budget purposes in March, that RMLD would be having a three to five percent increase. We informed them of the rate increase in order that it could be incorporated into their budget and not be a surprise. Mr. Hennessy asked Ms. Parenteau for clarification purposes, if the base has gone up by seven and a quarter percent, the net of that will be a lot less. Ms. Parenteau agreed noting that the base portion represents only about twenty percent of all the over line items within an electric bill. Purchased power is the majority of that cost when there is that magnitude of an increase purchased power from this current fiscal year to FY 2016 is flatter, capacity costs are going down. In advance of a significant increase for FY 2017, the transmission went up by $1.3 million and the capacity went down $1.2 million that is pretty flat. The energy is within $200,000 to $500,000. For an overall $65,000,000 expense budget that is pretty flat. By being able to maintain that larger portion static the smaller increase resulted in the overall increase of approximately three percent. Mr. Fournier summarized the Operating Budget, not to over simplify it, but to show the detail. First and foremost, Mr. Fournier reiterated that the RMLD Operating Budget is not a line item budget, the detail is given to see where the expenses are coming from within the budget. Mr. Fournier noted that $86.5 million represents the expenses that is submitted for approval this evening. The fixed cost portion, they are very highly fixed costs, looking at the capacity transmission and fuel, RMLD has no say in those costs, they are itemized. Mr. Fournier highlighted the following: depreciation is based on the gross plant and that is a fixed number in which three percent is utilized, the Town Payments are locked into that per the Twenty Year Agreement, return on investment for the Town of Reading RMLD is locked into that agreement and the disposal losses which are net assets that have been disposed of prior to depreciation. Mr. Fournier commented that when you look at the $86.5 million in expenses, approximately $72 million of that RMLD really has no say as to where those costs are. Of the variable costs, the biggest piece is the labor which is broken up into the capital and expense side. Approximately $5.5 million is the labor expense side. The next big expense is employee pension benefits that as Trustee of the Pension with the annual contribution, in addition to the health and life insurance benefits that go to the employees. The next big item, $1.8 million represents the fact that each department has unique expenses to itself, all the departments are grouped together such as Meter, Station, Line, Accounting, Customer Service, etc. Mr. Fournier explained, for example, in Accounting the Town Treasurer or town services would be part of that cost. For example for the Integrated Resources Division conservation expenses there were about $816,000 budgeted for that expense. A separate rate is on the RMLD bill to cover those conservation expenses. Ms. Parenteau explained that all of RMLD's conservation programs are funded with a line item on the budget where Mr. Fournier accounts for the monies collected. Any expenses for commercial rebates, appliance rebates, or residential audits all get passed through that conservation fund. Mr. Fournier added that the monthly financials allows him to report on the energy conservation fund balance which represents the difference of the monies we collect, but have not spent, which is at a little over $500,000. Ms. Parenteau added that the Efficiency Engineer position that was vacant for over two years was filled last week. It is our hope that we will be more proactive with the programs and that the balance of the energy conservation fund will not be at a high level going forward. Chairman O'Rourke asked Mr. Fournier, the total operating expense number shows as $83,967,423 which is approximately $2.5 million dollars less than stated. Mr. Fourier explained that if you look at the non - operating expenses at the bottom of the budget, at the six year plan, and add that total together to get the $86.5 million Mr. Fournier continued with his review noting the next big ticket item RMLD has is the Tree Trimming Program. Currently, there are three crews right now that will be performing the tree trimming. Recently, there was a change in vendors, the new processes are working very well. Page 1 3 Review of RMLD's Fiscal Year 2016 Operating Budget (Attachment 1) Mr. Fournier reported that the overtime expense is the expense portion where a little over $500,000 is allocated. This also includes any storm emergency overtime that may be incurred. Mr. Fournier emphasized that this is a budgeted figure, it does not mean we will spend all that money, but it is needs to be set aside. Mr. Fournier reported as far as the budget, the property insurance is a little less than $500,000, professional services which are legal, accounting, audit or any consultant that may be performing services for RMLD are found on the expense side. Office supplies include (customer credit card fees), Federal Energy Regulatory Commission (FERC), and bank fees. This amount represents all the credit card fees that are incurred when the customer uses their credit card and RMLD gets charged, it appears as a hefty number. It enables the RMLD to do carry out credit and collections with the customer, it allows us to get their credit card to pay rather than us setting up payment plans, mailing out collection agency notices, rolling out a truck to do a shutoff, etc. Mr. Fournier stated that when letting a customer know they are on a credit watch they will use their credit card. Although that number is significant the amount we save is actually enormous. In the budget, Vehicle, represents the maintenance of the fleet, approximately $28,000 budgeted, maintenance expense for the Barbas building behind the main offices, training expenses for RMLD employees $225,000 for the whole company that also includes tuition reimbursement because employees are allowed per Board Policy. The transformer expense has to do with hazardous material in the event a transformer leaks; $300,000 is budgeted. Bad debt expense of about $120,000, for FY 2015 is well below that. Injuries and damages in the event a claim is put in by our customers or the RMLD causes damage on their personal property. The RMLD and CAB expenses are not significant. In summary, there is about eighty four percent or almost $72 million which is fixed, there is about seventeen percent or $14.5 million which is wiggle room, but even those expenses are previously set. If you cut the budget there is the possibility of problems with liability or services. The $86.5 million is on the table for approval tonight in Operating Expenses. Mr. Stempeck said that the only observation is that the labor in the three unions is negotiated for multi years and the overtime is structured and laid out. Mr. Fournier explained that the labor represents all the RMLD employees, less the capital portion that is allocated out and that some of the overtime is contractual. Chairman O'Rourke stated that at the last meeting there were the presentations of the recommendations from the two studies. When the recommended action items are implemented this will probably incur some costs either staff increases or changes in compensation if appropriate. Chairman O'Rourke wondered if that gets reflected here in this budget because obviously the Board wants to be supportive of the changes. Do those costs get reflected in this operating budget or are they handled separately as we move forward through the year? Ms. O'Brien answered that the organizational charts that were recommended are still being vetted. Since there are six vacancies right now and have changes that are already happening we are looking at those vacancies first. The study recommended another four employees, but that still needs to be reviewed. Maybe for the next year there will be a give and take, but probably the following year's budget there will be an impact. Chairman O'Rourke stated that he was asking if there is a particular change that the staff felt would make a huge difference in the operations, efficiencies or productivity or adding on benefits. Does the Board have the opportunity to approve those outside the normal budget process? Ms. O'Brien answered, a midyear approval process could occur. Mr. Fournier said that some of the recommendations made have been incorporated into the budget. Ms. O'Brien said that the immediate needs have been addressed. Chairman O'Rourke asked hypothetically if we want to build a substation in Wilmington, if property is found and not budgeted, would we come forward and ask for an addendum to the budget. Ms. O'Brien replied that she does not see anything significant this year, but if something should come up we would follow the process. Chairman O'Rourke commented that one of the questions raised by the consultant, from the Board's point of view is to make sure that the budget as stated does it have sufficient operating funds to accomplish what Ms. O'Brien wants to get done this fiscal year based on their recommendations. Chairman O'Rourke asked if Ms. O'Brien and her staff feel reasonably comfortable with the budget numbers as presented. Ms. O'Brien responded that the budget does take into consideration some of the maintenance being worked on, the labor costs for capital projects, training and the corporate organizational structure. Page 1 4 Review of RMLD's Fiscal Year 2016 Operating Budget (Attachment 1) Ms. O'Brien stated that she feels comfortable with the budget as it is outlined to capture at least getting the system where it needs to be in fiscal year 2016 according to the recommendations of the Reliability and Organizational Studies. Mr. Stempeck made a motion seconded by Mr. Hennessy that the RMLD Board of Commissioners based on the recommendations of the CAB approve the Fiscal Year 2016 Operating Budget with a net income of three million twelve thousand seventy dollars, as presented. Motion carried 4:0:0. Commissioner Pacino was not present for the vote. Chairman O'Rourke suggested that moving forward the budgets be approved in the same meeting. In principal it makes sense although both are big budgets to go thorough at one time. Mr. Stempeck replied that he has no bias either way, but it is a lot of material to go through. The question is whether there is a reason to separate the two. Ms. Foti stated that past precedence is that the budgets were separated out. There were budget committee meetings prior to the Board meeting. Chairman O'Rourke stated that another compromise is to review the capital budget, but defer the actual approval process to review and answer questions. Once review of the operating budget is complete, both budgets can be voted on with one motion. General Manager's Report — Ms. O'Brien — General Manager Ms. O'Brien stated that the Town of Reading Community Development Department is having an Economic Development Meeting on the evening of June 3. Included in that discussion is the zoning and economic development of the back area behind 230 Ash Street which includes the Barbas building. RMLD pays a monthly rental fee at the Barbas building for stock /inventory. Ms. O'Brien noted that part of the budget is the usage study of our facilities which includes the Barbas building along with the operations building. Part of that study includes an appraisal of this building, Station One and the operations building. This will determine what the best usage of these buildings are. Also, RMLD will obtain an appraisal of the Barbas building which will be incorporated into the study. Ms. O'Brien will provide information relative to the Economic Development Meeting. Chairman O'Rourke clarified if there are any thoughts relative to the plan and to continue with that arrangement. Ms. O'Brien stated that it is prudent for an organization with buildings of this size that the worth be assessed and properly maintained. More importantly, with a $1.5 million upgrade of the HVAC system and ongoing maintenance costs being made to the building. The operations building has not been updated in a long time, it is time to take a look at the worth. RMLD is spending $212,000 annually in rent for a facility that it previously considered to purchase, it is time again to look at the best usage of the properties in a study format, but we have to obtain the appraisals in order to present something with validity to it. Chairman O'Rourke asked how much space in the Barbas building RMLD utilizes. Ms. O'Brien stated that RMLD rents approximately sixty six percent the Barbas building for stock inventory. Mr. Pacino entered the meeting at this point. Mr. Talbot asked why RMLD cannot just vacate the building and find a lower rent building. Ms. O'Brien replied, that would be part of the usage study and is one of the items to be looked at, it would be in the scope of work it says, "we rent this, is it better to buy it, is it better to vacate it, do we have too much stock, should we only be renting ten percent of this space rather than sixty six percent ", all of those types of questions will be answered in a typical facility usage study. Mr. Talbot stated that he was under the impression that there was a lot of dead storage there. Ms. O'Brien stated that for security purposes she does not want to provide too much detail, however, the transformers are not stored outside. There is a right -of -way behind this building at the end of the deck, we do not own beyond that. Only a minimal amount of inventory can be put outside at the operations building area because the space also comprises of the employee parking lot. RMLD is a substantial system for four towns, we do have some inventory at substations, but that is limited, as well. All those questions will be looked at and the Board will be provided with an update on that after the meeting. We are continuing interviews on the Facilities Manager position, who would be in charge of that project. On another matter, Ms. O'Brien stated that relative to the Organizational and Reliability Studies the scope will be broadened to include staff career development and training. Under the purchasing laws we are able to continue with Leidos to perform the next steps which are the leadership assessment and the support in generation of the new strategic plan. Page 1 5 General Manager's Report — Ms. O'Brien — General Manager Also, this encompasses the development and support of the change in management that goes along with "to be vetted" recommendations on the organizational restructuring. Ms. O'Brien stated that she will provide the Board with an update as each piece of those phases are completed which should be within about six months, each piece is about six mini phases. Power Supply Report — March and April 2015 — Ms. Parenteau (Attachment 2) Ms. Parenteau stated that although March and April reports are in the book she will report on April and entertain any questions on March. Ms. Parenteau said that a while back RMLD looked at the annual purchases over a ten year period, Mr. Talbot had read that historically energy use was declining, but peak usage was actually increasing. Ms. Parenteau said that they compiled findings for a ten year period and put that against peak usage. The trending showed that it was going up in the early 2004, 2005 and 2006 period then there was some decline in 2009, back up through 2010 and 2011 and subsequently has gone down. RMLD's peak for last year was a little over 157 megawatts. A lot of that is weather dependent, hot summer, etc., but the hope is between the economies, the efficiency programs and the weather we can make maintain a lower peak. Many of our PASNY and transmission costs on the wholesale side are driven by the peak demand. All of the efficiency programs are targeting reduction of that peak demand. Mr. Talbot asked if it was the monthly or annual peak. Ms. Parenteau responded that it is the annual peak. Mr. Talbot added that the day's peak is higher than the average, such as four to five in the afternoon is getting higher as opposed to the whole day. Mr. Talbot asked if that is true at the RMLD. Ms. Parenteau said that they need to look at that. Typically, it has always been like that. Mr. Talbot pointed out that spread is growing. Ms. Parenteau said that the next item looked at was a decrease or flat sales. Ms. Parenteau explained that they looked at the same ten year period, 2004 through 2014. This involved looking at the residential customers, it is just below 250 million kilowatt hours per year with a marginal increase in residential sales. For non - residential that included commercial, industrial, and municipal rates as well as streetlights started around 450 million kilowatts per year in 2004 and dropped to 410 million kilowatts in 2015. There has been an overall decrease in commercial sales of approximately one percent. Ms. Parenteau reported on the April Power Supply Report. She stated that this is typical for the shoulder month of April because the nuclear projects are still online and they typically take outages for refueling in October, it is coming this current calendar year for Seabrook. The interchange is about thirteen percent which is average. Ms. Parenteau then explained that the next cost is our average energy costs over a three year period by month. Ms. Parenteau stated that with the national gas constraints in New England during January and February RMLD's costs have been rising maintaining a high level of about six cents during February from 2013 to 2015. In March during 2013 the costs were little over four cents because of the gas constraints that jumped up to just below six cents in 2014 and is just a little over five cents in 2015. April tends to be a lower cost under five cents and this particular month that we just closed the cost came in at around three cents. Ms. Parenteau said that one of the big driving factors for that is ISO New England based on their winter reliability requirement. This requires dual fuel generators that can operate on either natural gas or oil to fill up their oil tanks. Due to the fact that the RMLD has long term contracts in the Stony Brook plant which is located in Ludlow, Massachusetts, as well as Braintree Watson Plant in Braintree, those plant owners put in bids to participate in that. As a result, RMLD received $800,000 back that was credited in the April Fuel Charge. As a reminder this is a pass through to all the customers, the costs came in just under three cents. Again, Ms. Parenteau noted, RMLD tries not to spike the costs in the winter period when the prices tend to be in the six cent range, we try to levelize that to around five and have done a good job within the last three years. Engineering and Operations Report — March and April 2015 — Mr. Jaffari (Attachment 3) Mr. Jaffari stated that the capital improvement projects cost to date is $529,263. Under the maintenance programs for the aged overloaded transformer replacement program breaks out as follows: thirteen percent of the single phase padmount transformers have been completed, eight percent of the three phase, ten percent of the overhead single phase transformers and three percent for the three phase. The pole testing by law are required to test ten percent of the poles RMLD owns on the system. Page 1 6 Engineering and Operations Report — March and April 2015 — Mr. Jaffari (Attachment 3) Last year 625 poles were tested, 390 passed and 233 failed. Out of the failures 77 have been replaced, 22 that have been condemned and replaced, 30 out of the 99 transfers are completed. Progress is being made with this program. The 13.8kV and 35kV feeder's quarterly inspections look for degradation and failure. The manhole inspections are pending, porcelain cutout replacements with 284 polymers remaining to be replaced, which represents ninety percent completion. Substation maintenance and infrared scanning for the month of April at the three substations exposed some minor issues that we are working to fix. The system reliability report for the three indices, System Average Interruption Duration Index (SAIDI), System Average Interruption Frequency Index (SAIFI). Customer Average Interruption Duration Index (CAIDI) are below national and regional average. The outage causes overall are ranked from the highest to lowest: equipment, tree and wildlife. Fiber Optic Presentation — Mr. Price Mr. Price provided a history of the fiber optics reporting that in the 1980's the RMLD decided to install a SCADA system. A SCADA system is a Supervisory Control and Data Acquisition System that provides the control center operator remote control and communication from substations. When this was first installed the method of installation the phone lines were the means of communication. Over the years, the cost of those leased lines went up. In late 1993, the RMLD formed a task force, a Fiber Optic Task Force. Mr. Price provided the names of the members on the task force consisting of a commission member, two RMLD employees and a representative from FMS Communications as the consultant. The recommendation was made for RMLD to install a fiber optic network to all the substations and certain switching points; this would be seventy two fiber, six, two and twelve, RMLD Linemen installed the fiber. A contractor was used for the splicing and in terminating at the substations. Out of the seventy two fibers, sixty two were two tubes dedicated just for RMLD. Four tubes, forty eight fibers that is dark fiber that the RMLD is not using. Mr. Talbot asked if that with the two tubes would be twenty four strands just for RMLD. Mr. Price responded, yes. Mr. Talbot commented that is a lot is it all used. Mr. Price explained that one tube is for direct connection to the substation as well as one tube for remote point nodes RMLD's AM[ System. Mr. Price added that RMLD's fiber loop goes through the four towns. Mr. Price stated that in 2007, Mr. Dion was the E &O Manager he contacted LeaseCom and they developed a lease. All of RMLD's fiber goes through the four towns. Mr. Price said that Mr. Dion decided to do was to enter into an agreement with LeaseCom to lease out some of that fiber and in order to do that there had to be a connection on the south side Industrial Way and Woburn Street. They had another tie point near Lowell Road and Main Street in Reading. Mr. Price said that they entered into an agreement that is called an IRU, an Indisputable Right of Use, that Rubin and Rudman was involved in the creation of this agreement. It spelled out a lease for RMLD to be able to lease dark fiber to this company. At first, the leases involved were just straight pass throughs, they brought in a 144 fiber cable on 288 into our fiber. They would in turn lease out 48 fibers in one direction on the west side of Woburn and they could lease out 48 fibers on the east side of Woburn, to get through our system out through North Reading. Mr. Talbot asked whether there was any third party who looked into this at the time who knows about these types of deals with utilities or expertise to help make the best deal. Mr. Price stated he was not involved with this at the time, it was Mr. Dion who had some knowledge of fiber leases because he came from NSTAR. Ms. O'Brien stated that if Rubin and Rudman were involved, in the telecomm industry that must be able to attach whether it's their attachment or RMLD's attachment. Based on the safety and capacity of the pole, we have to allow them attach and are looking into that. If they request it RMLD does not need to go out and solicit, but if Rubin and Rudman drafted the contract it was probably compared in cost to anybody else who is leasing out dark fiber. Ms. O'Brien explained to Mr. Talbot because he asked that question not too long ago, Mr. Price called municipals and private companies that lease out dark fiber. We explained to them that we resell dark fiber and got five or six prices and RMLD was right there with the price per mile. Mr. Price added that the pricing received fluctuated based on the infrastructure. Mr. Talbot stated that this agreement should still be set to an independent person to review although the lawyers do a great job drafting contracts, but it probably needs expertise looking at these contracts. Page 1 7 Fiber Optic Presentation — Mr. Price Mr. Talbot said that maybe a presentation to the Board before we entered into anything significant new agreements. Ms. O'Brien stated that the contract is continued every three years. Mr. Price said there is an initial term with the IRU and range three to five years. Ms. O'Brien stated that there are a number of IRUs. Ms. O'Brien stated that those are still in the loop because only five miles go through Reading. This is a loop that goes through all four towns but the ones that are in the queue because this is part of a business that RMLD is operating out of electric fiber even the money financially goes into the electric business. Ms. O'Brien stated that even the ones in queue are $500,000 annually in revenue and asked Mr. Talbot for clarification about what he means by, "there are no large projects ", he is including the potential large project that was going to build through the middle and not the continuation of these stands that are already in queue. Mr. Talbot stated that these deals should probably come through the Board at some level. Mr. Price clarified that the IRU was approved by the current Board at the time. Mr. Pacino remembered it was discussed at some point by the Board at the time. Mr. Price continued noting that RMLD has nine leases in force right now, three pending agreements that are in queue and are working on a project right now that is a four mile lateral expansion through North Reading. Mr. Price explained that whenever the fiber is expanded it is not done with ratepayer money, the contractor provides the materials, money for the line crews, engineering and framing design as well as they install the fiber piece. Ms. O'Brien pointed out that the property becomes RMLD's. Mr. Talbot said that at a high level, we are letting companies use our poles and infrastructure to run a very profitable business for themselves. Mr. Talbot pointed out that we should be aware of our opportunities more than we have done historically and asked what can the RMLD do that these other companies are doing. Mr. Price replied that these companies have large networks where the RMLD has twenty five to twenty six miles, these companies have thousands of miles that they aggregate different networks. Chairman O'Rourke said that Mr. Talbot has made some interesting points, the Board can have periodic updates, but not enough knowledge to make any decisions. Mr. Stempeck said that indirectly the businesses are getting the advantage of the fiber from within the four towns which helps with the economic development. Mr. Talbot said that on July 8 there is an event for interested municipal light plants about this at Harvard Law School about this whole business. Mr. Talbot commented that when a job like that is being done have them put up more fiber then they are for their own purposes. Mr. Price added that there is a minimum of thirty six that RMLD asks for. The North Reading project that Mr. Price spoke about, the RMLD is going to take some of that fiber to help with AMI distribution automation project. Mr. Talbot said that to go at least five or ten times that. Mr. Talbot pointed out that at City of Holyoke for its data center from Chicopee to Holyoke, hired Holyoke Gas and Electric Department to put in the fiber, they were the contractor for the data center. They put up ten times more with the incremental costs at pennies per foot. Now Holyoke Gas and Electric has twenty extra miles of fiber that cost them a few thousand more. The data center needed twelve strands, the put up one hundred forty four. Mr. Talbot said that people need more data and there is opportunity to lease more out in the future. Mr. Price added that the RMLD may incur an expense for the extra fiber. Mr. Talbot stated that it is a good investment for minimal cost. Mr. Price reported that all the leases nine in force and three pending, with quotes on seven other projects, the potential revenue is over $500,000 for all the leases. Mr. Talbot added that is the growth area not particularly electric sales. Ms. O'Brien thanked Mr. Price. Financial Report — March and April 2015 — Mr. Fournier (Attachment 4) Mr. Fournier stated that the change in net assets for the month of April shows a net profit or positive change in net assets of $666,000 which increases the year to date net income to about $2.6 million. The budgeted net income for this period is $2.4 million, which results in net income over budget by about $146,000 or six percent. Fuel revenues exceeded fuel expenses by about $305,000. Purchase power, capacity and transmission revenues exceeded the expenses by about $355,000. Mr. Fournier stated that the year to date base revenues were under budget by about $375,000 or two percent. The actual base revenues came in at $18.1 million compared to the budgeted amount of $18.5 million. The expenses, year to date purchase power base was over budget by $771,000 or about 3.2 %; the actual purchase power base cost came in at $24.3 million versus budgeted power costs of $23.6 million. The operating and maintenance combined overall expenses were over budget by $59,000 or .5 %, the actual expenses were $28 million. Page 1 8 Financial Report — March and April 2015 — Mr. Fournier (Attachment 4) The depreciation expense and the voluntary payments to the town were on budget. The payments to the towns will be made in June. The operating funds were at $10.5 million, capital fund balance at $5.8 million, rate stabilization $6.6 million, deferred fuel $4.5 million, energy conservation at $590,000. The kilowatt hour sales were 580 million which is about $3.7 million or little more than .05% behind last year's actual. Cumulatively, the five divisions are over budget by $2,500. Mr. Fournier reported that last November, the RMLD was contacted by the Commonwealth of Massachusetts Sales Tax Division who performed a sales tax audit. The audit was completed in April. They audited the monthly reporting and the documentation is correct. Residential customers are tax exempt this only applies to commercial customers. The RMLD received a positive report in that there is no interest or penalty cost, the paper work was fine. Mr. Fournier thanked the Customer Service Department especially Maureen Hanifan. Mr. Fournier added that the auditors will be coming to the RMLD on June 22 and June 23 to perform some field work such as account payable invoices, payroll as well as journal entries. Physical inventory will be performed at the RMLD June 27 and June 28. The audit is scheduled for the week of August 10. Mr. Fournier presented a graph containing operating and maintenance expenses for fiscal years 2011 to 2015. Mr. Fournier stated that he is willing to provide any graphic representation that the Board may be looking for. Mr. Stempeck said that he more interested in the implication behind the numbers, what they mean. Report of the Chairman of the Board — Chairman O'Rourke Account Payable Warrant and Payroll Process for RMLD Board of Commissioners Mr. Pacino stated that there are no exceptions for the account payable warrant. He commented as to whether the approval of the warrant could be performed electronically. Payroll information should not be handled in the same manner due to the sensitive nature of it, however, the warrant could be done electronically. After discussing all the options including a spreadsheet, the sense of the Board is that there is no way to streamline the payables /warrant electronically because it is too variable. Mr. Talbot suggested for the phones to consider voice over IP for the future. Ms. O'Brien added that the RMLD is covered by the town for long distance. Mr. Stempeck suggested taking this issue up at a Policy Committee meeting. Mr. Hennessy asked if a bill is pulled by a commission member will not be paid. Ms. O'Brien replied, yes. Chairman O'Rourke said that it would be good if the commission members had access to a SharePoint site. Ms. O'Brien said that she will discuss setting up the SharePoint for Board access with the IT Department. MGL Chapter 30B Bids (Attachment 5) Mr. Jaffari explained the Lynnfield project as well as similar projects which results in the need for IFB 2015 -33. IFB 2015 -23 Electric Utility Excavation Mr. Pacino made a motion seconded by Mr. Stempeck to move that bid 2015 -23 for the Electrical Utility Excavation Including Emergency Excavation and Construction Services be awarded to Tim Zanelli Excavation, LLC for $39,583.02 as the lowest qualified bidder on the recommendation of the General Manager. Motion carried 5:0:0. IFB 2015 -25 Tier II Residential Energy Audits Ms. Parenteau explained that the residential energy audits came in lower than the current vendor RMLD has in place. The RMLD is currently paying $200 per residential audit the successful bidder charges $175. Over the three year period with the current auditor, the RMLD has spent $198,000 year to date. This cost is anticipated to decrease. Chairman O'Rourke asked how residential customers apply for an audit. Ms. Parenteau responded that residential customers can go to RMLD's website. Chairman O'Rourke asked how long in between audit requests. Ms. Parenteau explained that if the timeframe is less than eighteen months the RMLD will not pay for a second audit. Ms. Parenteau said that there will be an internal review to see what customers are doing post audit. Page 1 9 MGL Chapter 30B Bids (Attachment 5) IFB 2015 -25 Tier II Residential Energy Audits Mr. Pacino made a motion seconded by Mr. Stempeck move that bid 2015 -25 for Residential Energy Audits be awarded to Healthy Homes Energy LLC as the lowest responsive and responsible bidder for a three year period at a total cost of $185,625.00 on the recommendation of the General Manager. Motion carried 5:0:0. IFB 2015 -27 HVAC Improvements 230 Ash Street Mr. Jaffari explained the total cost for the entire project is $1.2 million, which is a three year project to upgrade to the HVAC System for this building. Mr. Jaffari reported that in fiscal year 2017; $400,000 and fiscal year 2018; $200,000 for this project. The boilers, chillers, air handlers and control systems will be replaced as well a cleaning the air ducts. Mr. Pacino asked if the word "eligible" in the motion had any significance. Mr. Jaffari replied, no. Mr. Pacino made a motion seconded by Mr. Hennessy to move that bid 2015 -27 for the HVAC Improvements be awarded to Falite Bros., Inc. for $571,243 as the lowest responsible and eligible bidder on the recommendation of the General Manager. Motion carried: 5:0:0. BOARD MATERIAL AVAILABLE BUT NOT DISCUSSED E -Mail responses to Account Payable /Payroll Questions Rate Comparisons, May 2015 RMLD Board Meetings Thursday, June 25, 2015 Thursday, July 30, 2015 Thursday, September 24, 2015 Policy Committee Meeting Tuesday, June 2, 2015 moved to Tuesday, June 23, 2015 CAB Meeting Wednesday, June 17, 2015 Adjournment At 8:25 p.m. Mr. Pacino made a motion seconded by Mr. Stempeck to adjourn the Regular Session. Motion carried 5:0:0. A true copy of the RMLD Board of Commissioners minutes as approved by a majority of the Commission. John Stempeck, Secretary Pro Tern Page 1 10 Naw Y C N L U (9 Q a oa� ,or h 2 w f Q 0. 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O i 0 1- C O f p O U O p w O LL O H O F F Z H Z F Z 3/30/2015 8:01 PM OPERATING REVENUE: SALES OF ELEC - BASE SALES OF ELEC - FUEL ENERGY CONSERVATION PURCHASE POWER ADJUSTMENT (PPCT) GAW REVENUE NYPA CREDIT TOTAL OPERATING REVENUE OPERATING EXPENSES: PURCHASED POWER - CAPACITY PURCHASED POWER- TRANSMISSION OPERATION EXPENSE MAINTENANCE EXPENSE DEPRECIATION EXPENSE TOWN PAYMENTS TOTAL PURCHASED POWER - FUEL TOTAL OPERATING EXPENSES NET OPERATING INCOME OTHER INCOME: MDSE AND JOBBING INTEREST INCOME FORFEITED DISCOUNTS MISCELLANEOUS REVENUE TOTAL OTHER INCOME MISCELLANEOUS INCOME DEDUCTIONS: CUSTOMER DEPOSIT INTEREST EXP OTHER DEDUCTIONS (ROI) TOTAL MISCELLANEOUS DEDUCTIONS . COME READING MUNICIPAL LIGHT DEPARTMENT 2016 OPERATING BUDGET SUMMARY DRAFT 1 MARCH 31, 2015 2016 BUDGET [A] 23,020,930 35,226,324 707,288 29,696,424 0 (900,000) 17,095,785 12,600,639 10,869,131 3,676,395 3,983,145 1,416,000 34,326,329 360,000 150,000 690,628 550,000 2,100 2,520,000 2,522,100 3,012,070 2015 8 MTHS ACT FY 14 % CHANGE 4 MTHS BUD % CHANGE ACTUAL [A] & [B] [B] [B] & [C] [C] Page 1 7.25% 21,464,737 4.74% 33,632,979 3.47% 683,544 1.51% 29,253,518 0.00% 0 8.34% (830,751) 4.21% 84,204,027 1.78% 16,796,975 1.16% 12,456,543 0.34% 10,832,818 11.31% 3,302,984 2.88% 3,871,646 0.66% 1,406,754 2.00% 48,667,720 4.65% 32,802,228 3.07% 81,469,948 38.38% 2,734,079 - 11.58% 407,169 19.08% 125,966 1.48% 680,523 - 20.23% 689,492 -8.01% 1,903,149 51.09% 4,293 1.50% 2,482,863 1.40% 2,487,156 - 52.48% 45,165,636 - 3.90% 34,997,433 0.27% 681,672 828.03% 3,152,211 - 100.00% 453,488 - 16.71% (997,380) 0.90% 83,453,058 -3.07% 17,328,790 13.23% 11,001,414 5.15% 10,301,997 9.79% 3,008,421 2.43% 3,779,635 0.68% 1,397,270 3.95% 46,817,527 1.00% 32,476,845 2.74% 79,294,372 - 34.26% 4,158,686 14.65% 355,146 4.25% 120,832 - 25.33% 911,421 53.77% 448,382 3.67% 1,835,780 246.31% 1,240 1.88% 2,437,072 2.00% 2,438,312 40,09% 2,150,071 - 39.54% 3,556,155 J /JV /LV I 7'.55 PM READING MUNICIPAL LIGHT DEPARTMENT 2016 OPERATING BUDGET SUMMARY DRAFT 1 3/31115 Page 2 2015 2016 8 MTHS ACT FY 14 BUDGET % CHANGE 4 MTHS BUD % CHANGE ACTUAL [A] [A] & [B] [Bl [B] & [C] [�l OPERATING EXPENSES: 555 PURCHASED POWER CAPACITY 17,095,785 1.78% 16,796,975 -3.07% 17,328,790 557 PURCHASED POWER TRANSMISSION 12,600,639 1.16% 12,456,543 13.23% 11,001,414 TOTAL PURCHASED POWER 29,696,424 1.61% 29,253,518 3.26% 28,330,204 568 MAINT OF TRANSPLANT 3,000 6.50% 2,817 3,38% 2,725 TOTAL TRANSMISSION EXP 3,000 6.50% 2,817 3.38% 2,725 580 OPER SUPER & ENGIN 629,691 14.42% 550,326 7.52% 511,842 581 OPERATION LABOR 84,858 - 41.47% 144,993 17.48% 123,421 581 1 OPERATION LABOR MISC 666,641 - 15.66% 790,408 -1.24% 800,320 582 OPERATION SUPPLIES & EXP 448,347 -6.24% 478,168 -2.51% 490,603 585 STREET LIGHTING EXP 93,347 6.11% 87,971 23.37% 71,305 586 METER EXP 233,648 4.71% 223,132 1.15% 220,605 588 MISC DISTRIBUTION EXP 457,068 3.81% 440,271 15.71% 380,511 590 MAINT OF STRUCTURE & EQUIP 384,655 - 27.34% 529,372 191.40% 181,665 593 MAINT OF LINES OH 1,971,953 14.38% 1,723,963 -1190% 1,757,335 594 MAINT OF LINES UG 124,508 - 20.77% 157,151 - 28.54% 219,927 595 MAINT OF LINE TRANSFORMS 300,000 199.04% 100,321 4.25% 104,770 596 MAINT OF ST LT & SIG SYS 10,072 215.84% 3,189 - 766.60% (478) 597 MAINT OF METERS 43,875 438.14% 8,153 - 29.99% 11,646 TOTAL DISTRIBUTION EXP 5,448,663 4.03% 5,237,420 7.47% 4,873,371 METER READING LABOR & EXP 32,578 43.89% 22,640 15.76% 19,51— ' 903 ACCT & COLL LABOR & EXP 1,693,219 -3.68% 1,757,846 20.42% 1,469,765 904 UNCOLLECTABLE ACCTS 120,000 0.00% 120,000 29.26% 92,834 TOTAL CUST ACCT EXP 1,845,796 -2.88% 1,900,486 20.88% 1,672,156 916 ENERGY AUDIT EXP 1,298,875 22.65% 1,059,009 14.26% 926,868 920 ADMIN & GENERAL SALARIES 838,461 0.01% 838,352 -2.05% 855,903 921 1 OFFICE SUPPLIES EXP 301,000 -0.65% 302,978 -1.44% 307,392 923 OUTSIDE SERVICE EMPLOYED 377,332 0.86% 374,112 - 15.29% 441,664 924 PROPERTY INSURANCE 466,200 18.80% 392,423 12.43% 349,033 925 INJURIES & DAMAGES 51,254 13.27% 45,249 5.63% 42,839 926 EMPLOYEES PENSIONS & BENS 2,633,591 -8.28% 2,871,256 1.36% 2,832,652 930 MISC GENERAL EXP 231,022 53.01% 150,984 -2.48% 154,829 931 RENT EXPENSE 212,000 16.04% 162,693 . 17.02% 220,154 932 1 MAINT OF GARAGE & STCKRM 660,131 15.15% 573,284 -1.76% 683,567 935 MTN OF GEN PLANT 178,200 •12.96% 204,731 39.02% 147,265 TOTAL ADMIN & GEN EXP 7,248,067 3.62% 6,995,071 1.94% 6,862,165 GRAND TOTAL 44,241,949 1.97% 43,389,312 4.20% 41,640,622 LESS: PURCHASED POWER (29,696,424) 1.51% (29,253,518) 3.26% (28,330,204) MAINTENANCE EXPENSES (3,676,395) 11.31% (3,302,961) 9.79% (3,008,421) TOTAL OPERATION EXPENSE 10,869,131 0.34% 10,832,813 5.15% 10,301,997 Page 2 015 AM HER EXPENSES: ,INTENANCE EXPENSE: i8 MTN OF TRANS. PLANT 30 MTN OF STRUCTURES 33 MTN OF LINES - OH 34 MTN OF LINES - UG 95 MTN OF LINE TRANS. 96 MTN OF ST. LIGHTS 97 MAINT OF METERS 321 MTN GARAGE AND STOCKROOM 35 MTN OF GEN PLANT iTAL MAINTENANCE EXPENSES :PRECIATION EXPENSE: 03 DEPRECIATION EXPENSE (ES; 40n OTHER TAXES (2% TOWN PAYMTS) TEREST ON CUSTOMER DEPOSITS: 419.2 INTEREST EXP ON CUST DEP READING MUNICIPAL LIGHT DEPARTMENT 2016 OPERATING BUDGET SUMMARY DRAFT 1 3131115 3,983,145 2.88% 3,871,646 2.43% 3,779,635 1,416,000 0.66% 1,4Ub,104 2,100 - 51.08% 4,293 Page 3 0,68% 1,397,270 246.21% 1,240 2015 2016 8 MTHS ACT FY 14 BUDGET % CHANGE 4 MTHS BUD % CHANGE ACTUAL (Al (Al & IBl 1131 (Bl & (Cl IC) 3,000 6.50% 2,817 3.38% 2,725 384,655 - 27.34% 529,372 191,40% 181,665 1,971,953 14.38% 1,723,963 -1.90% 1,757,335 124,508 - 20,77% 157,151 - 28.54% 219,927 300,000 199.04% 100,321 -4.25% 104,770 10,072 215.84% 3,189 - 766.60% (478) 43,875 438,14% 8,153 - 29.99% 11,646 660,131 15.15% 573,284 - 1.76% 583,567 178,200 - 12.96% 204,731 39.02% 147,265 11.31% 9,79% 3,008,421 3,302,981 3,676,395 3,983,145 2.88% 3,871,646 2.43% 3,779,635 1,416,000 0.66% 1,4Ub,104 2,100 - 51.08% 4,293 Page 3 0,68% 1,397,270 246.21% 1,240 e Description of RMLD's Power Supply Stony Brook Intermediate Unit The Stony Brook Intermediate Unit is a 354 - megawatt, combined -cycle power plant that entered commercial operation in 1981. The unit's three gas turbines generate electricity using either No. 2 oil or natural gas, with additional electricity produced using a single steam turbine in the combined -cycle process. MMWEC completed construction of a natural gas pipeline to serve the Intermediate Unit in September 2002. The RMLD has a Life of Unit (LOU) entitlement for 14.453% of the unit or approximately 51 Mws. The RMLD has paid off the debt service associated with this project. Quick Facts — Stonybrook Intermediate Unit Location On -Line Date Fuel Principal Owner /Operator Total Capacity Stony Brook Peaking Unit Ludlow, Massachusetts 1981 No. 2 oil /natural gas MMWEC 354 megawatts The Stony Brook Peaking Unit is a 172- megawatt peaking plant that entered commercial operation in 1982. The unit's two turbines generate electricity using No. 2 oil. The RMLD has a Life of Unit (LOU) entitlement for 19.516% of the unit which is equivalent to approximately 33 Mws. The RMLD has paid off the debt service associated with this project. Quick Facts — Stonybrook Peaking Unit Location Ludlow, Massachusetts On -Line Date Fuel Principal Owner /Operator Total Capacity 1982 No. 2 oil MMWEC 172 megawatts Braintree Electric Light Department - Watson Unit The simple -cycle gas fired plant is powered by the first two Rolls -Royce Trent 60 gas turbines built for the U.S. power generation market — known as Watson Units #1 and #2. The units entered commercial operation on June 23, 2009. Both Watson Units are bid into the ISO New England markety system daily and are dispatched based on their bid price. The units two turbines generate electricity using natural gas, with No. 2 oil as backup fuel. The RMLD has a 20 year entitlement for 10% of the unit which is equivalent to about 10 Mws. Quick Facts —Watson Unit Location On -Line Date Fuel Principal Owner /Operator Total Capacity Seabrook Station Braintree, Massachusetts 2009 Natural gas /No. 2 oil BELD 100 megawatts Seabrook Station is a 1,244- megawatt nuclear generating plant located in Seabrook, New Hampshire. An operating license for Seabrook was issued in 1986, but the plant did not begin commercial operation until 1990. The principal owner and operator of Seabrook Station is NextEra Energy Resources LLC, a subsidiary of Florida based FPL Group, Inc. NextEra owns 88.2% of Seabrook Station, The other owners are MMWEC (11.59 %) and two Massachusetts municipal utilities, the Taunton Municipal Lighting Plant (0.13 %) and Hudson Light & Power Department (0.08 %). NextEra has announced plans to seek an extension of its Seabrook operating license from the current license expiration of 2030 to 2050. RMLD signed 3 different projects to finance Seabrook, Mix 1, Project 4, and Project 5. The debt service associated with these projects will be paid -off in 2014, 2017 & 2018 respectively. The RMLD has a Life of Unit (LOU) for 0.635% or approximately 8 Mws of the unit. Quick Facts — Seabrook Station Location Seabrook, New Hampshire On -Line Date 1990 Fuel Principal Owner /Operator I Total Capacity Millstone Unit 3 Nuclear — Pressurized Water Reactor NextEra Energy Resources, LLC 1,244 megawatts Millstone Unit 3 is a 1,237- megawatt nuclear generating plant located in Waterford, Connecticut. Millstone Unit 3, which began operation in 1986, is the newest and largest of the Millstone Station's three.nuclear units, one of which is retired from service. The principal owner and operator of Millstone Station is Dominion Nuclear Connecticut, Inc., a subsidiary of Virginia -based Dominion Resources, Inc. Dominion Connecticut owns 93.4% of Millstone Unit 3. The Nuclear Regulatory Commission (NRC) on November 28, 2005 approved Dominion Nuclear Connecticut's request for a 20 -year operating license extension for Millstone's Unit 3 reactor. The license now expires in November, 2045. RMLD signed two different projects to finance Millstone #3, Mix 1 and Project 3. The debt service associated with these projects will be paid off in 2014 & 2018 respectively. The RMLD has a LOU agreement for 0.404% of the units which equates to approximately 4.6 Mws. Quick Facts — Seabrook Station i Location On -Line Date Fuel Principal Owner /Operator Total Capacity New York Power Authority (NYPA) Waterford, Connecticut 1986 Nuclear— Pressurized Water Reactor Dominion Nuclear Connecticut, Inc. 1,237 megawatts The RMLD receives inexpensive hydroelectric power from the NYPA. RMLD receives capacity and energy from this contract. The Massachusetts Department of Public Utilities (DPU) has appointed MMWEC as the administrator of this contract. The current contract expires in 2025. Hydro- Quebec Interconnection The Hydro - Quebec Interconnection is an approximate 2000 Mw, direct current electric transmission line connecting central New England with the Canadian utility Hydro Quebec. Construction of the U.S. portion of the interconnection, which stretches from Groton /Ayer, in Massachusetts to the Canadian border in northern Vermont, was a joint effort of many New England utitilies. The RMLD receives approximately 4.5 Mws of capacity from this contract. Florida Power & Light Energy Power Marketing, Inc. (FP &L) In March, 2008 the RMLD signed a power supply agreement for capacity with FP &L that is effective from June 1, 2012 through May 31, 2017. The contract is for 60,000 kW of firm, Rest -of -Pool ICAP (Installed Capacity). The amount of capacity purchased is fixed at 60,000 kWs and the pricing is as follows; Power Year $ /kW -month Fixed Price Floor Price Cap Price 6/1/2012 — 5/31/2013 $5.50 6/112013 — 5/31/2014 $5.50 $6.00 6/1/2014 — 5/31 /2015 $5.65 $6.15 t 6/1/2015 — 5/31/2016 $5.90 $6.40 6/1/2016 — 5/31/2017 $6.15 $6.65 NextEra Energy Power Marketing, LLC In June, 2011 the RMLD signed a system power contract with NextEra that is effective from January 1, 2012 through December 31, 2015. The RMLD receives enery only from this contract. The amount of energy purchased fluctuates on a monthly basis for both the on -peak and off -peak period. RMLD has secured fixed pricing for this contract. Exelon In June, 2012 the RMLD signed a system power contract with Exelon that is effective from January 1, 2013 through December 31, 2016, The RMLD receives enery only from this contract. The amount of energy purchased fluctuates on a monthly basis for both the on -peak and off -peak period. RMLD has secured fixed pricing for this contract. ( BP Energy In July, 2013 the RMLD signed a system power contract with BP Energy that is effective from January 1, 2014 through December 31, 2017. The RMLD receives enery only from this contract. The amount of energy purchased fluctuates on a monthly basis for both the on -peak and off -peak period. RMLD has secured fixed.pricing for this contract. Shell Energy In November, 2014 the RMLD signed a system power contract with Shell Energy that is effective from January 1, 2015 through December 31, 2018. The RMLD receives enery only from this contract. The amount of energy purchased fluctuates on a monthly basis for both the on -peak and off -peak period. RMLD has secured fixed pricing for this contract, Swift River Hydro In March, 2011 the RMLD signed a purchase power agreements with Swift River Hydro LLC for the output of four hydro systems located in Massachusetts that are effective from February 1, 2011 through January 31, 2026. The Swift River Trading Company is the lead market participant for and represents these hydroelectric generators with a total nameplate capacity of approximately 7 Mws and average annual generation of 25,000 megawatt -hours per year. These facilities include the Woronoco Hydro facility in Russell, MA, Pepperell Hydro in Pepperell, MA; Indian River Power Supply in Russell, MA; and Turners Falls Hydro in Turners Falls, MA. Each of these facilities is owned by a special purpose entity, e.g., the Woronoco facility is owned by Woronoco Hydro LLC. The four facilities are managed by the Swift River Trading Company, LLC as the lead market participant for each of the facilities. Dr. Peter Clark is the manager of the Swift River Trading Company. RMLD is the only buyer. • Pepperell Hydro: 15 year term beginning on February 1, 2011 and ending January 31, 2026. RMLD is purchasing all of the products produced by or attributable to the facility. The facility has a nameplate capacity of 1.9 Mws. The products include, but are not limited to, Energy, Installed Capacity, Ancillary Services, Renewable Energy Certificates and Environmental Attributes (to the extent not included in the RECs). The contract price for these products is $100 /Mwh for the first year, escalated 2.25% thereafter. Woronoco Hydro: 15 year term beginning on February 1, 2011 and ending January 31, 2026. RMLD is purchasing all of the products produced by or attributable to the facility. The facility has a nameplate capacity of 2.7 Mws. The products include, but are not limited to, Energy, Installed Capacity, Ancillary Services, Renewable Energy Certificates and Environmental Attributes (to the extent not included in the RECs). The contract price for these products is $100 /Mwh for the first year, escalated 2.25% thereafter. The facility is not currently qualified for FCM. Until the Seller qualifies the facility for FCM the contract price is reduced by $5.00 /Mwh. Turners Falls Hydro: 15 year term beginning on February 1, 2011 and ending January 31, 2026. RMLD is purchasing all of the products produced by or attributable to the facility. The facility has a nameplate capacity of 1 Mw. The products include, but are not limited to, Energy, Installed Capacity, Ancillary Services, Renewable Energy Certificates and Environmental Attributes (to the extent not included in the RECs). The contract price for these products is $100 /Mwh for the first year, escalated 2.25% thereafter. The facility is not currently qualified for FCM, Until the Seller qualifies the facility for FCM the contract price is reduced by $5.00 /Mwh. • Indian River Hydro: 15 year term beginning on February 1 2011 and ' 9 9 rY ending January 31, 2026. RMLD is purchasing all of the products produced by or attributable to the facility. The facility has a nameplate capacity of 1.4 Mws. The products include, but are not limited to, Energy, Installed Capacity, Ancillary Services, Renewable Energy Certificates and Environmental Attributes (to the extent not included in the RECs). The contract price for these products is $100 /Mwh for the first year, escalated 2.25% thereafter. The facility is not currently qualified for FCM. Until the Seller qualifies the facility for FCM the contract price is reduced by $5.00 /Mwh. Collins Hydro In August, 2013 the RMLD signed a purchase power agreement with Swift River Hydro LLC for the output of Collins Hydro located in between Ludlow and Wilbraham Massachusetts. The ownership of the project was transferred to Amersand Hydro in 2014. The contract with Ampersand is effective from September 1, 2014 through August 31, 2028. The RMLD receives energy only from this contract. The average annual generation is approximately 5,667 megawatt -hours per year. 4 Pioneer Hydro In August, 2013 the RMLD signed a purchase power agreement with Ware River Power Inc. for the output of Pioneer Hydro located in Ware, Massachusetts. The contract for Pioneer Hydro is effective from September 1, 2013 through August 31, 2028. The RMLD receives energy only from this contract. The average annual generation is approximately 4,480 megawatt -hours per year. Hoisery Mills Hydro In March, 2014 the RMLD signed a purchase power agreement with Silver Street Hydro Inc. for the output of Hosiery Mills located in Hillsborough, New Hampshire. The contract for Hosiery Mills Hydro is effective from. March 1, 2014 through February 28, 2034. The RMLD receives energy only from this contract. The average annual generation is approximately 2,046 megawatt -hours per year. 0 Saddleback Ridge Wind In December, 2013 the RMLD signed a purchase power agreement with Saddleback Ridge Wind, LLC for the output of Saddleback Ridge Wind located in Carthage, Maine. The contract for Saddleback Ridge Wind is effective from January 1, 2015 through December 31, 2035. The RMLD receives energy plus all attributes this contract. The average annual generation is estimated to be approximately 15,820 megawatt -hours per year. Jericho Wind In November, 2014 the RMLD signed a purchase power agreement with Jericho Power, LLC for the output of Jericho Wind located in Berlin, New Hampshire. The contract for Jericho Wind is for 20 years effective from Commercial On -line Date which is projected to be September 1, 2015. The RMLD receives enery plus all attributes from this contract. The average annual generation is estimated to be approximately 10,788 megawatt -hours per year. One Burlington - Solar In March, 2015 the RMLD signed a purchase power agreement with CREECA Energy LLC for the output of 2,000 kW AC solar array located at One Burlington Ave., Wilmington, Massachusetts. The solar array is scheduled to begin construction in April, 2015 and expected to have a commercial on -line date of no later than November 1, 2015. The term of the contract for One Burlington is effective for ten years and 120 days from the date of commercial operation. The average annual generation is estimated to be approximately 3,450 megawatt -hours per year. Summit Hydro In December, 2014 the RMLD signed a purchase power agreement with Summit Hydro LLC.for the output of Summit Hydro located in Jewitt City, Connecticut. The contract with Summit Hydro is effective from January 1, 2015 through December 31, 2015. The RMLD receives energy only from this contract. The average annual generation is approximately 9,315 megawatt -hours per year, �1_64 3/3112015 READING MUNICIPAL LIGHT DEPARTMENT 10 25 AM 2016 BUDGET SUMMARY ( PURCHASED POWER EXPENSE TOTAL NUCLEAR MIX #1 - MILLSTONE C 641,160 MILLSTONE - TRANSMISSION T 19,788 MILLSTONE - ENERGY E 179,261 NUCLEAR MIX #1 - SEABROOK C 58,565 SEABROOK - TRANSMISSION T 180 SEABROOK - ENERGY E 18,440 PROJECT #3 - DEBT SERVICE C 1,166,671 PROJECT #3 - TRANSMISSION T 14,076 PROJECT #3 - ENERGY E 137,455 PROJECT #4 - DEBT SERVICE C 2,980,564 PROJECT #4 - TRANSMISSION T 4,044 PROJECT #4 - ENERGY E 452,584 PROJECT #5 - DEBT SERVICE C 397,981 PROJECT #5 - TRANSMISSION T 504 PROJECT #5 - ENERGY E 55,851 NYPA - CAPACITY' C 206,064 NYPA - TRANSMISSION' T 634,410 NYPA - ENERGY' E 133,866 . REMVEC" E 9,000 ISO -NE CAPACITY C 2,552,083 ISO -NE TRANSMISSION• ' T 11,864,925 ISO -NE ENERGY E 3,847,114 NEMA CONGESTION•'•• E (1,794,000) HYDRO QUEBEC SUPPORT SERVICES C 114,000 STONYBROOK PEAKING PROJECT - CAPACITY C 595,691 STONYBROOK PEAKING PROJECT - TRANSMISSION T 28,634 STONYBROOK PEAKING PROJECT - ENERGY STONYBROOK INTERMEDIATE PROJECT- CAPACITY E C 383,627 2,538,876 I STONYBROOK INTERMEDIATE PROJECT -TRANS T 34,078 STONYBROOK INTERMEDIATE PROJECT - ENERGY E 276,368 NEXTERA E 5,371,516 NEXTERS CAPACITY PURCHASE C 4,263,000 EXELON E 4,950,502 BRAINTREE WATSON - CAPACITY C 1,581,130 BRAINTREE WATSON - ENERGY E 254,547 BP ENERGY E 5,269,395 SHELL ENERGY E 8,267,684 COOP I RESALE E 25,200 SWIFT RIVER HYDRO E 2,633,462 SUMMIT HYDRO E 605,479 COLLINS HYDRO E 438,769 PIONEER HYDRO E 346,944 HOSIERY HYDRO E 134,051 SADDLEBACK WIND E 1,502,900 JERICHO WIND E 663,698 ONE BURLINGTON SOLAR E 162,616 TOTAL BUDGETED PURCHASED POWER 64,022,753 PURCHASED POWER BASE EXPENSE: TOTAL CAPACITY PURCHASED C 17,095,785 TOTAL TRANSMISSION PURCHASED T 12,600,639 TOTAL 29,696,424 PURCHASED POWER FUEL EXPENSE: TOTAL ENERGY PURCHASED E 34,326,329 ' NYPA: NEW YORK POWER AUTHORITY REMVEC: RHODE ISLAND, EASTERN MASSACHUSETTS, VERMONT ENERGY CONTROL ISO -NE: INDEPENDENT SYSTEM OPERATOR - 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I-Ow >-w dx�00oOQWzo m z zan.a. zu)wLnzmZM W WMtnWOL)EM0nOU 3/3112015 10:28 AM DIVISION BUSINESS DIVISION INTEGRATED RESOURCES ENGINEERING AND OPERATIONS FACILITY GENERAL MANAGER SUB -TOTAL PURCHASED POWER BASE PURCHASED POWER FUEL TOTAL RMLD BUDGET / ACTUAL COMPARISON SUM1,MY SCHEDULE DRAFT 1 3/31/15 2016 BUDGET [A) 10,265,851 .1,431,175 5,278,256 4,672,286 813,203 22,466,170 29,696,424 34,325,329 86,489,523 Page 5 . 1 2015 % CIULNGE 8 MTHS ACT 6 CHANGE 4 MTHS BUD (A) 6 (Bj (Bj 0.52% 10,212,338 19.36% 1,204,034 4,03% 5,073,812 0.84% 4,633,454 4.56% 777,720 2.58% 21,901,358 1.51% 29,253,518 4.65% 32,802,228 3.02% 83,957,104 Page 5 . 1 FY 14 % CIULNGE ACTUAL (Bj G (Cl (Cl 5.50% 9,679,870 10.16% 1,092,978 6.70% 4,755,234 0.82% 4,595,590 -3.02% 801,963 4.66% 20,925,634 3.26% 28,330,204 1.00% 32,476,845 2.72% 81,732,683 3/3112015 10:28 AM 4q✓' INTEGRATED RESOURCES 75 01 -75 -5916 -000 INT RES PLAN EXP 01 -75- 5916 -101 LABOR REG 01- 75- 5916- 102.LABOR OT 01- 75- 5916-103 EE EDUCATION 01 -75- 5916 -109 KEY ACCOUNT 01 -75 -5923 -000 OUTSIDE SERVICES 01- 75-5916-XXX CONSERVATION GRAND TOTAL RMLD INTEGRATED RESOURCES DIVISION BUDGET / ACTUAL COMPARISON SUMMARY SCHEDULE DRAFT 1 3/31/15 2016 FY 14 2015 BUDGET 181 6 (C1 8 MTHS ACT TOTAL % CHANGE 4 MTHS BUD (A) (A) 6 (B1 (8] 49,000 3.94% 46,180 417,173 10.56% 377,339 - -100,00% 3,096 15,600 96.85% 7,925 1,500 - 72.85% 5,525 138,300 -4.64'% 145,024 816,602 31.93% 618,945 1,437,175 19.36% 1,204,034 Page 5 - 2 FY 14 % CHANGE ACTUAL 181 6 (C1 (Cl 20.121 38,446 12.29% 336,054 2632.811 113 124.021 3,538 4.55% 5,285 - 12.693 166,110 13.90% 543,432 10.16'% 1,092,978 3/91/2015 P2 LD 10:28 AM GENERAL MANAGER DIVISION BUDGET / ACTUAL COMPARISON SUMMARY SCHEDULE DRAFT 1 3/31/15 2016 2015 BUDGET 8 MTHS ACT FY 14 GENERAL MANAGER 51 TOTAL % CHANGE 4 MTHS BUD 1 CHANGE ACTUAL [A] [A] 6 [B] [B] [e] G [C] [Cl 01-51- 5920 -101 LABOR REG 255,816 -4.63% 268,230 10.61% 242,508 01 -51- 5920 -102 LABOR OT - - 100.00% 1,136 385.97% 234 01-51- 5921 -000 OFFICE SUPPLIES - 0.001 - 0.001 - 01 -51 -5923 -000 OUTSIDE SERVICES 75,000 - 35.60% 116,451 - 21.01% 147,419 01 -51- 5930 -103 EE EDUCATION 9,000 287.93% 2,320 - 12.71% 2,658 01 -51 -5930 -105 MISC GENERAL 55,000 1.10% 54,400 - 13.05% 62,565 01 -51- 5930 -106 VEHICLE 5,575 - 875.31% (719) - 86,04% (5,150) SUB -TOTAL 400,391 -9.38% 441,818 -1.87% 450,233 HUMAN RESOURCES 52 01 -52- 5920 -101 LABOR REG 112,279 -2,12% 114,717 1.83% 112,653 01 -52 -5923 -000 OUTSIDE SERVICES 67,032 71.82% 39,012 - 36.14% 61,086 01 -52 -5930 -103 EE EDUCATION 4,200 250.00% 1,200 - 60.78% 3,060 . 01 -52- 5930 -105 SUPPLIES 1,500 1119.511 123 - 108.68% (1,418) 01 -52- 5930 -109 MISC GENERAL 13,460 26.90% 10,607 11.10% 9,547 SUB -TOTAL 198,471 19.81% 165,659 - 10.42% 184.929 COMMUNITY RELATIONS 54 01 -54- 5920 -101 LABOR REG 110,141 20.71% 91,243 17.18% 77,864 01 -54- 5920 -102 LABOR OT - - 100.001 49 100.00% 1,121 01 -54- 5930 -109 MISC GENERAL 72,800 35.71% 53,642 - 16.841 64,506 01 -54- 5930 -103 EE EDUCATION 2,000 MDIV /01 - - 100.00% 391 01 °4 -5930 -105 SUPPLIES 6,900 65.59% 4,167 - 64.08% 11,602 SUB -TOTAL 191,841 28.67% 149,101 -4.10% 155,484 CAB 56 01 -56- 5920 -101 LABOR REG 5,087 101.86% 2,520 44.671 1,742 01 -56- 5920 -102 LABOR OT 1,200 8.99% 1,101 122.97% 494 01- 56-5930 -109 MISC GENERAL 8,713 - 38.48% 14,164 766.89% 1,634 SUB -TOTAL 15,000 - 15.66% 17,785 359.62% 3,870 BOARD 58 01 -58 -5930 -109 MISC GENERAL 7,500 123.41% 3,357 - 54.93% 7,448 SUB -TOTAL 7,500 123.41% 3.357 - 54.93% 7,448 GRAND TOTAL 813,203 4.561 777,720 -3.021 801,963 O Page 5 . 3 313112015 1028 AM GENERAL BENEFITS 53 01 -53- 5920 -101 LABOR REG 01- 53- 5920 -102 LABOR OT 01 -53 -5921 -000 OFFICE SUPPLIES 01- 53- 5930-103 EE EDUCATION 01 -53- 5930 -105 SUPPLIES 01 -53 -5923 -000 OUTSIDE SERVICES 01 -53 -5924 -000 PROPERTY INSURANCE 01 -53- 5925 -000 INJURIES 6 DAMAGES 01-53 -5926 -000 EE PENS 6 BaMFIT 01 -53 -5930 -109 MISC GENERAL 01 -53- 5931 -000 RENT SUB -TOTAL TRANSPORTATION 63 01 -63- 5933 -109 MISC GENERAL 01 -63 -5333 -101 LABOR REG 01 -63- 5933 -102 LABOR OT 01 -63 -5333 -103 EE EDUCATION 01 -63- 5933-105 SUPPLIES LESS ALLOCATION RECLASS SUB -TOTAL BUILDING MAINTENANCE 64 01 -54 -5923 -000 OUTSIDE SERVICES 01 -64- 5932 -101 LABOR REG 1- 64- 5932 -102 LABOR OT 01 -64 -5932 -103 EE EDUCATION 01 -64- 5932 -105 SUPPLIES SUB -TOTAL MATERIALS MANAGEMENT 60 01 -60 -5588 -109 MISC DIST EXP 01-60 - 5588 -101 LABOR REG 01 -60- 5588-102 LABOR OT 01 -60 -5588 -103 EE EDUCATION 01 -60- 5588 -105 SUPPLIES 01 -60- 5588 -104 RFP EXPENSES 01 -50 -5921 -000 OFFICE SUPPLIES SUB -TOTAL GRAND TOTAL RMLD FACILITY MANAGER DIVISION BUDGET / ACTUAL COMPARISON SUMMARY SCHEDULE DRAFT 1 3/31/15 2016 BUDGET TOTAL [A] 104,142 21,600 1,000 27,000 466,200 51,254 2,633,591 3,300 212,000 3,520,087 2015 8 MTHS ACT FY 14 t CHANGE 4 MTHS BUD % CHANGE ACTUAL (A] 6 (e) (B] (B] S (C) (C) 9,55% 95,065 0,00% 80 0.00% - 3007,91% 695 197.62% 335 200.00% 9,000 18.80% 392,423 13.27% 45,249 -8.28% 2,871,255 149,061 1,325 16.04% 182,694 -2,17% 3,598,123 - 40.391 159,471 - 87.63% 647 0.004 - 7.751 645 100.00% - 787,05% 1,015 12,434 349,033 5.631 42,839 1136% 2,832,652 399.06% 266 - 17,02% 220,154 -0.24% 3,606,720 (186,326) - 24.24% (245,939) 34345.24% (714) 67,331 - 14,251 78,526 -3.503 81,372 8,400 118.18% 3,850 - 67.581 11,877 2,400 300,00% 600 100.00% - 386,920 202.281 127,999 - 133.381 (383,433) (278,725) - 697,183 34,964 - 87.981 290,898 0100% 0.001 10,000 188,181 3,470 756.791 405 128,676 14.59% 112,296 9.45t 102,603 32,000 - 27,28% 44,003 64.55% 23,843 5,000 236.70% 1,485 - 17.271 1,795 494,455 19,001 415,500 -8.751 455,326 610,131 16,191 576,754 -1.24% 583,972 70,000 348,888 15,000 10,180 13,000 25,000 482,068 4_ 672,286 - 14.231 81,617 7,481 324,604 - 28.44% 20,950 699.061 1,274 10,021 11,816 0.00% - 35.571 18,306 5.121 458,577 0.841 4,633.454 Page 5 • 4 6.84% 76,390 19.59$ 271,433 29.05% 16,242 - 67.06% 3,868 -6.06% 12,579 O.00t - - 24.931 24,387 13.26% 404,898 0.82% 4,595,590 3/31/2015 10:28 AM 1 ACCOUNTING 59 01 -59- 5903 -101 LABOR REG 01 -59- 5903 -102 LABOR OT 01 -59- 5903 -103 EE EDUCATION 01 -59 -5903 -105 SUPPLIES 01 -59 -5921 -000 OFFICE SUPPLIES 01 -59- 5923-000 OUTSIDE SERVICES 3 L_1101 m CUSTOMER SERVICE 62 01 -62- 5903 -101 LABOR REG 01 -62- 5903 -102 LABOR OT 01 -62- 5903-103 EE EDUCATION 01 -62 -5903 -104 TEMP LABOR 01 -62 -5903 -105 SUPPLIES 01 -62- 5903 -106 VEHICLE 01 -62- 5904 -000 UNCOLLECT ACCOUNTS 01 -62 -5921 -000 OFFICE SUPPLIES SUB -TOTAL MIS 61 01 -61- 5903 -101 LABOR REG O1 5903 -102 LABOR OT 903-103 EE EDUCATION i ^ 903 -105 SUPPLIES i1 -5935 -000 MTN GEN PLANT 01 -61 -5921 -000 OFFICE SUPPLIES SUB -TOTAL MISCELLANEOUS DEDUCTIONS 57/77 01 -77 -5403 -000 DEPRECIATION EXP 01 -77- 5408 -000 VOLUNTARY PAYMENTS 01- 77-5419 -000 INTEREST EXP 01 -77 -5426 -000 OTHER DEDUCTIONS 01 -77 -5426 7005 T READING ROI 01 -57 -5920 -101 BM LABOR REG 01 -57 -5930 -109 BM MISC GENERAL SUB -TOTAL GRAND TOTAL RMLD BUSINESS DIVISION BUDGET / ACTUAL COMPARISON SUMMARY SCHEDULE DRAFT 1 3/31/15 2016 BUDGET TOTAL (A] 217,943 400 21,000 333,000 276,000 35,000 883,343 549,964 2,000 4,800 18,000 5,575 120,000 700,339 502,136 800 16,600 21,000 178,200 718,736 3,983,145 1,416,000 2,100 150,000 2,370,000 39,787 2,400 7,963,432 10,265,851 -3.84% 2015 - 54.006 8 MTHS ACT 6 CHANGE 4 MTHS BUD [A] 6 (B) (e] 0.46% 216,939 300.00% 100 320.00% 5,000 0.56% 331,137 -3,05% 284,673 -0.63% 35,221 1.18% 873.070 -3.84% 571,949 - 54.006 4,348 39.78% 3,434 0.00% - 355.246 3,954 - 622.09% (772) 0,00% 120,000 0.00% - -0.37% 702,913 - 15.27% 592,602 - 52.616 1,688 15.72% 14,345 62.74% 12,904 - 12,966 204,732 - 100.00% 138 - 13.03% 826,409 2.886 3,871,646 0.66% 1,406,754 - 51.08% 4,293 0.00% 150,000 1.59% 2,332,863 -8,72% 43,590 200.009 800 1,976 7,809.946 0.521 10,212,338 Page 5 . 5 18.486 FY 14 % CHANGE ACTUAL [e] t (C] (C] 8.61% 199,740 100.00% 100 0.00% 180 51.06% 219,210 0.68% 282,760 - 18.56% 43,250 17.15% 745,240 18.486 482,739 288.716 1,119 -0.22% 3,442 0.00% - - 76.87% 17,098 - 85.06% (5,169) 29.266 92,834 0.00% - 18.72% 592.061 15,18% 514,519 - 19.39% 2,094 - 28.63% 20,100 180.85% 4,595 39.02% 147,265 100.00% - 20.02% 688:572 2.04% 2,43% 3,779,635 0.68% 1,397,270 246.27% 1,240 10.42% 135,851 1.381 2,301,221 12.40% 38,780 100.00% - 2.04% 7.653,997 5.50% 9,679,870 3/31/2015 RMLD 10:28 AM ENGINEERING AND OPERATIONS DIVISION BUDGET / ACTUAL COMPARISON SUMMARY SCHEDULE DRAFT 1 3/31/15 ENGINEERING 65 01- 65-5580-101 LABOR REG 2016 13,67% 2015 7159% 447,219 a,.. BUDGET - 44.87% 8 MTHS ACT 7.50% FY 14 EGO MGR 55 TOTAL % CHANGE 4 MTHS BUD % CHANGE ACTUAL 01-65 -5580 -105 SUPPLIES (A] (A) G (B) (B) (S] 6 (Cl (C) 01 -55- 5920 -101 LABOR REG 208,508 -4.27% 217,813 0.261 217,254 01- 55- 5920 -102 LABOR OT 1,500 - 46.60% 2,609 - 10.44% 3,135 01 -55 -5921 -000 OFFICE SUPPLIES - 0100% - 0,00% - 01 -55 -5930 -103 EE EDUCATION 9,500 143.291 3,873 110,851 1,837 01- 55- 5930 -106 VEHICLE 5,575 - 788.21% (810) - 86,091 (5,822) 01 -55 -5923 -000 OUTSIDE SERVICES 15,000 2,811 14,590 - 28.84% 20,505 01 -55 -5930 -105 MISC GENERAL 1,000 -33.55% 1,505 41.82% 1,061 SUB -TOTAL 241,083 0.54% 239,780 0.76% 237,971 ENGINEERING 65 01- 65-5580-101 LABOR REG 546,966 13,67% 481,171 7159% 447,219 01- 65- 5580 -102 LABOR OT 30,000 - 44.87% 54,413 7.50% 50,616 01 -65 -5580 -103 EE EDUCATION 39,150 331.93% 9,064 -9.241 9,987 01-65 -5580 -105 SUPPLIES 8,000 33.441 5,995 - 26.59% 8,166 01- 65- 5580 -106 VEHICLE 5,575 - 1858,521 (317) - 92,35% (4,145) 01 -65 -5921 -000 OFFICE SUPPLIES - - 100,00% 81 - 62.88% 218 01 -65- 5923 -000 OUTSIDE SERVICES 10,000 - 11.86% 11,345 505.071 1,875 SUB -TOTAL 639,691 13.071 561,752 9.30% 513,935 LINE 66 01 -66 -5568 -109 MTN OF TRANS EXP 3,000 6.501 2,817 3.381 2,725 01- 66- 5581 -101 LABOR MISC 530,641 - 21.67% 677,484 -2.42% 694,255 01- 65-5581 -109 GENERAL EXP 90,000 13,71% 79,151 -7.76% 85,813 01 -66 -5581 -103 EE EDUCATION 46,000 36,201 33,773 66,77% 20,252 1 -66 -5585 -109 STREET LIGHT EXP 30,000 -5,45% 31,729 43.74% 22,075 . -66- 5585 -101 LABOR REG ST LIGHT 27,474 - 11.87% 31,174 0.269 31,094 01 -66- 5585 -102 LABOR OT ST LIGHT 8,000 15,94% 6,900 56.11% 4,420 01 -66- 5585 -106 VEHICLE ST LIGHT 27,873 53,41% 18,169 32.46% 13,717 01 -66 -5593 -000 MTN OF LINES 97,227 - 51.51% 200,510 - 15.23% 235,544 01 -65- 5593 -101 LABOR REG MTN LINE 496,078 2.071 486,035 - 13.72% 563,342 01 -56- 5593 -102 LABOR OT MTN LINE 301,734 -26,82% 412,336 16.061 355,266 01 -66- 5593 -106 VEHICLE MTN OH LINE 189,533 62.281 116,796 93.02% 60,510 01 -70 -5593 -110 TREE TRIMMING 887,381 74.581 508,286 -6.16% 541,673 01 -66 -5594 -109 MTN UG LINE 98,000 190.68% 34,915 - 80.26% 176,916 01 -66- 5594 -101 LABOR REG UG LINES 15,266 38.11% 11,053 - 54,131 24,098 01 -66 -5594 -102 LABOR OT UG LINE 5,000 86.71% 2,678 - 73.26% 10,013 01 -66- 5594 -106 VEHICLE MTN UG LINE 6,243 389.61% 1,275 - 85.67% 8,900 01 -66 -5596 -109 ST LT 6 SIG EXP 250 - 99.77% 107,312 0.00% - 01-66- 5596 -101 LABOR REG ST LT /SG 6,785 186,16% 2,371 100.00% - 01-66-5596 -102 LABOR OT ST LT /SG 250 204.083 82 100.001 - 01 -66- 5596 -106 VEHICLE ST LT /SG 2,787 325.531 655 - 236.91% (478) 01 -66 -5921 -000 OFFICE SUPPLIES - 0.00% - 0.00% - SUB -TOTAL 2,969,521 3.75% 2,765,501 -3.001 2,851,134 Page 5 - 6 313112015 RMLD - 87,73% 8,148 72.39% 10:28 AM ENGINEERING AND OPERATIONS DIVISION 192,325 -1.74% 195,740 -8.88% BUDGET / ACTUAL COMPARISON SUMMARY SCHEDULE DRAFT 1 20,000 29.53% 15,440 3/31/15 7,591 01 -67 -5586 -103 EE EDUCATION 3,600 100.00% 3,292 723.00% 400 01 -67 -5586 -105 SUPPLIES - 2016 2015 0.00% - 01 -67- 5586 -106 VEHICLE BUDGET 8 MTHS ACT 511 FY 14 TECH SERV DEPT - METER READ 80 TOTAL % CHANGE 4 MTHS BUD % CHANGE ACTUAL - 100.00% (A) (A] G (e) (B] (B) i (C] (C] 01 -80- 5902 -101 LABOR REG 23,216 20.16% 19,321 14.83% 16,826 0 1-80- 5902 -102 LABOR OT 1,000 300.00% 250 163.851 95 01 -80 -5902 -105 SUPPLIES - 0.00% - - 100.00% 63 01 -80- 5902 -106 VEHICLE 8,362 172.37% 3,070 19.29% 2,574 SUB -TOTAL 32,578 43.89% 22,641 15.77% 19,558 TECH SERV DEPT - METER TECH 67 01 -67 -5586 -109 METER TECH EX? 1,000 - 87,73% 8,148 72.39% 4,727 01 -67- 5586 -101 LABOR REG 192,325 -1.74% 195,740 -8.88% 214,814 01 -67- 5566 -102 LABOR OT 20,000 29.53% 15,440 103.39% 7,591 01 -67 -5586 -103 EE EDUCATION 3,600 100.00% 3,292 723.00% 400 01 -67 -5586 -105 SUPPLIES - 0.00% - 0.00% - 01 -67- 5586 -106 VEHICLE 16,724 3172,70% 511 - 107.38% (6,927) 01 -67 -5921 -000 OFFICE SUPPLIES - 0,001 - - 100.00% 27 SUB -TOTAL 233,648 4.71% 223,131 1.13% 220,631 TECH SERV DEPT - STATION 68 01 -68 -5581 -109 STATION OP 6,000 0169% 5,959 7.36% 5,551 01 -68- 5581 -101 LABOR REG SUP 78,858 - 43.28% 139,034 17,96% 117,870 01 -68- 5582-109 STATION SUPPLIES 5,000 - 540.14% (1,136) - 82.763 (6,589) 01 -68- 5582 -101 LABOR REG 317,960 3.08% 308,470 -5.36% 325,942 01 768- 5582 -102 LABOR OT 120,000 - 29,08% 169,210 0.54% 168,296 0 9.5582 -103 EE EDUCATION 2,600 67.74% 1,550 - 57.401 3,639 5582 -105 SUPPLIES - 0,00% - - 100.00% 764 JV,5582-106 VEHICLE 2,787 100.00% 74 - 104.78% (1,548) SUS -TOTAL 533,205 - 14.44% 623,161 1.50% 613.924 01 -68 -5590 -109 SENIOR TECH EXP 5,000 300.00% 1,250 - 84.53% 8,080 01-68- 5590 -101 LABOR REG 232,943 - 15.83% 276,758 80.81% 153,065 01 -68- 5590 -102 LABOR OT 5,000 - 92.67% 68,199 628.06% 9,367 01 -68 -5590 -103 EE EDUCATION 15,925 270.78% 4,295 -2.251 4,394 01 -68 -5590 -105 SUPPLIES 123,000 - 30.97% 178,172 15107.32% 1,172 01 -68- 5590 -106 VEHICLE 2,787 299.32% 698 - 87.51% 5,587 01 -68- 5595 -000 TRANSFORMER MTN 300,000 199.04% 100,321 -4.25% 104,770 01 -68- 5597 -109 MAINTENANCE METERS 2,500 212.50% 800 48.17% 540 01 -68- 5597 -101 LABOR REG 22,625 1958.65% 1,099 65.24% 665 01 -68- 5597 -102 LABOR OT 18,750 199.81% 6,254 - 40.10% 10,441 01 -68- 5921 -000 OFFICE SUPPLIES - 0.00% - 0.00% - SUB -TOTAL 728,530 14.22% 637,846 113.98% 298.080 GRAND TOTAL 5,278,256 4.031 5,073,812 6.70% 4,755,234 e Page 5 • 7 yi C Z v p � z 0. w • A z w CG x C � x Q a--j U o W ~ � N G Q c6 0 c Alt E U m Q m Em M L E G Y fp W > N IA w R* N u N i 3 a 7i ^L Y Q 00 °o C � M�vi 0 �o �0 C o^ "o l in a °a m O O C C 0 0 O C 0 0 0 0 0 0 O O O 00 00 O 00 HMW v 0 N m O N N N O N N O ry � c m 0 A a o 0 ry L 3 o ' 0 N S N O N o� O N O O N 8 0 °o .N N O N Z N L 3 °o � Y N C G1 .N d O O O O O O O O 8 O O O O O O O O O O O O 8 8 8 °0 8 °0 8 8 °O °O O O O O O O O O O O O O O O O O O O O O 4MI 0 N M N O N N N O N N 0 O N O 0 O N O O N O O 0 0 0 O N ui 8 N O O N C Qi N Qi C O Z a Y c v N t Q. Q v L 0 I r-i O N O 0 m r1 O N m 4-J (11 ,, L O Q U Q b-J \^ L L W v LL. L co O O O O O r14 0 ® O O O O O O O O O O 4,1)- t!h 4-r)- J1} r-i O N O 0 m r1 O N m To: Coleen O'Brien From: r aureen McHugh, Jane Parentea' Date: �! May 4, 2015 Subject: Purchase Power Summary — March, 2015 Energy Services Division (ESD) has completed the Purchase Power Summary for the month of March, 2015. ENERGY The RMLD's total metered load for the month was 58,913,664 kWh, which is a. 18% decrease from the March, 2014 figures. Table 1 is a breakdown by source of the energy purchases. 2M Table 1 Amount of Cost of % of Total Total $ $ as a Resource Energy Energy Energy Costs % (kWh) ($ /Mwh) Millstone #3 3,713,826 $6.73 6.30% $24,997 0.81% Seabrook 5,885,917 $6.69 9.99% $39,354 1.27% Stonybrook Intermediate 41,625 $420.90 0.07% $17,520 0.56% Shell Energy 7,148,480 $69.05 12.13% $493,614 15.91% NextEra 7,402,000 $55.84 12.56% $413,344 13.33% NYPA 2,477,148 $4.92 4.20% $12,188 0.39% ISO Interchange 13,600,017 $82.50 23.08% $1,122,066 36.17% NEMA Congestion 0 $0.00 0.00% - $87,813 -2.83% Coop Resales 11,370 $161.69 0.02% $1,838 0.06% BP Energy 7,881,830 $47.73 13.38% $376,200 12.13% Summit Hydro /Collins /Pioneer 2,824,890 $71.75 4.79% $202,679 6.53% Braintree Watson Unit 214,549 $434.20 0.36% $93,156 3.00% Swift River Projects 1,182,078 $99.75 2.01% $117,911 3.80% Exelon 6,541,480 $42.02 11.10% $274,851 8.86% Stonybrook Peaking 0 $0.00 0.00% $0 0.00% Monthly Total 58,925,210 $52.64 100.00% $3,101,904 100.00% 2M Table 2 breaks down the ISO interchange between the DA LMP Settlement and the RT Net Energy for the month of March, 2015. Table 2 Amount Cost % of Total Resource of Energy of Energy Energy (kWh) ($ /Mwh) ISO DA LMP * 15,551,817 77.75 26.39% Settlement RT Net Energy ** - 1,951,799 44.66 -3.31% Settlement ISO Interchange 13,600,017 82.50 23.08% (subtotal) ' Independent System Operator Day -Ahead Locational Marginal Price " Real Time Net Energy MARCH 2015 ENERGY BY RESOURCE Swift River Projects, 7 m Braintree Wa Unit, 0.491 Summit Hydr 4.8% Stonvbrook Peakina. Milktnnc Bi A AN. tonybrook mediate, 0.1% 0 IR CAPACITY The RMLD hit a demand of 102,366 kW, which occurred on March 3, at 7 pm. The RMLD's monthly UCAP requirement for March, 2015 was 209,812 kWs. Table 3 shows the sources of capacity that the RMLD utilized to meet its requirements. Table 3 Source Amount (kWs) Cost ($ /kW- month) Total Cost $ % of Total Cost Millstone #3 4,950 34.47 $170,635 11.66% Seabrook 7,919 39.88 $315,837 21.58% Stonybrook Peaking 24,981 2.03 $50,801 3.47% Stonybrook CC 42,925 7.77 $333,554 22.80% NYPA 4,019 4.19 $16,834 1.15% Hydro Quebec 0 0 $21,036 1.44% Nextera 60,000 5.65 $339,000 23.17% Braintree Watson Unit 10,520 10.79 $113,545 7.76% ISO -NE Supply Auction 54,497 1.87 $102,020 6.97% Total 209,811 $6.97 $1,463,262 100.00% Table 4 shows the dollar amounts for energy and capacity per source. Table 4 Cost of % of Amt of Energy Power Resource Energy Capacity Total cost Total Cost (kWh) ($ /kWh) Millstone #3 $24,997 $170,635 $195,632 4.29% 3,713,826 0.0527 Seabrook $39,354 $315,837 $355,191 7.78% 5,885,917 0.0603 Stonybrook Intermediate $17,520 $333,554 $351,074 7.69% 41,625 8.4342 Hydro Quebec $0 $21,036 $21,036 0.46% - 0.0000 Shell Energy $493,614 $0 $493,614 10.81% 7,148,480 0.0691 NextEra $413,344 $339,000 $752,344 16.48% 7,402,000 0.1016 NYPA $12,188 $16,834 $29,021 0.64% 2,477,148 0.0117 ISO Interchange $1,122,066 $102,020 $1,224,086 26.81% 13,600,017 0.0900 Nema Congestion - $87,813 $0 - $87,813 -1.92% - 0.0000 BP Energy $376,200 $0 $376,200 8.24% 7,881,830 0.0477 Summit Hydro /Collins /Pioneer $202,679 $0 $202,679 4.44% 2,824,890 0.0717 Braintree Watson Unit $93,156 $113,545 $206,701 4.53% 214,549 0.9634 * Swift River Projects $117,911 $0 $117,911 2.58% 1,182,078 0.0997 Coop Resales $1,838 $0 $1,838 0.04% 11,370 0.1617 Exelon Energy $274,851 $0 $274,851 6.02% 6,541,480 0.0420 Stonybrook Peaking $0 $50,801 $50,801 1.11% - 0.0000 Monthly Total $3,101,904 $1,463,262 $4,565,166 100.00% 58,925,210 0.0775 * Renewable Resources 11.00% RENEWABLE ENERGY CERTIFICATES (RECs) Table 5 shows the amount of banked and projected RECs for the Swift River Hydro Projects through March 2015, as well as their estimated market value. TRANSMISSION The RMLD's total transmission costs for the month of March, 2015 were $987,624. This is an increase of 4.29% from the February transmission cost of $947,036. In March, 2014 the transmission costs were $892,962. Table 6 Current Month Table 5 Last Year Peak Demand (kW) 102,366 Swift River RECs Summary 104,839 Energy (kWh) 58,925,210 Period - July 2014 - March 2015 59,029,265 Energy ($) Banked Projected Total Est. Capacity ($) RECs RECs RECs Dollars Woronoco 1,129 838 1,967 $94,416 Pepperell 2,798 1,940 4,738 $227,424 Indian River 1,619 817 2,436 $116,928 Turners Falls 1,859 133 1,992 $-0 Subtotal 7,405 3,728 11,133 $438,768 RECs Sold 0 $0 Grand Total 7,405 3,728 11,133 $438,768 TRANSMISSION The RMLD's total transmission costs for the month of March, 2015 were $987,624. This is an increase of 4.29% from the February transmission cost of $947,036. In March, 2014 the transmission costs were $892,962. Table 6 Current Month Last Month Last Year Peak Demand (kW) 102,366 108,841 104,839 Energy (kWh) 58,925,210 57,903,974 59,029,265 Energy ($) $3,101,904 $3,579,980 $3,420,919 Capacity ($) $1,463,262 $1,491,533 $1,426,844 Transmission($) $987,624 $947,036 $892,962 Total $5,552,790 $6,018,549 $5,740,725 v L O T v C N c ry C E v O T i 3 O C a Y O V, C V— O C CO C v L H } U Z W U_ LL (.L W } W z w i O (..) a) N C v v C CE C O U 0 0 0 0 10 0 O- r 0 O O N O cy O aD O �n r O M ` N O N l9 d O 7 M M V r n } O � N cl� a O V 0 0 M n 0r 0n 0 10 <D 0 0 rn C rn G o m o r ID 0 o c'0 J » «n cn N N w » w sv N 0 0 (O of r D m � N M M N cD r c0 � p O H M Vi Ki (A lA (A fA fA E � a O o to N N O O 1010100 N N N (O V M OJ r r O 3 0 C_ } 0 0 0 0 o O o o O M U `N m � C } r QQ n ? O W R m U a 1 n O in N r N r O N. 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O W R m U a 1 n O in N r N r O N. N � d O o a N �n .n O o 0 o O h O n n f0 7 N Q� N r N � .o 6H (A 1A Vi VA 69 69 EA fA N M oD OJ O W N M M N M N N O 0 0 0 o O O o 0 M o h r r aV ot1i O N N of O) r (O (D O K O � � (] fA b9 fA fA fH IA fA fA fR a m c } nv o r W N o N H N M M M o M m M N N N ri o N N O oo o o o ion oo o o C M M 47 N O> N N M L v o N N N o v o m N N D1 o M W to df tli to H fR H C_ L W O N M N O c0 sf to 7 M N N M N � m a y r of O, O r N M C �n _ a `m m � N o o O 0 M 0 �n 0 r 0 0 N n tD O D lA di 69 IA FA c � LL a u 0 0 O o !0 N O r O O S �`p a F- S a E o 0 0 � LL rn C o � o o m m m 2 N U � IA IA fA Vi O (n } O ON O O N 0 0 0 0 10 0 O- r 0 O O N O cy O aD O �n r O M ` N O N l9 d O 7 M M V r n } O � N cl� a O V 0 0 M n 0r 0n 0 10 <D 0 0 rn C rn G o m o r ID 0 o c'0 J » «n cn N N w » w sv N 0 0 (O of r D m � N M M N cD r c0 � p O H M Vi Ki (A lA (A fA fA E � a O o to N N O O 1010100 N N N (O V M OJ r r O 3 0 C_ } 0 0 0 0 o O o o O M U `N m � C } r QQ n ? O W R m U a 1 n O in N r N r O N. N � d O o a N �n .n O o 0 o O h O n n f0 7 N Q� N r N � .o 6H (A 1A Vi VA 69 69 EA fA N M oD OJ O W N M M N M N N O 0 0 0 o O O o 0 M o h r r aV ot1i O N N of O) r (O (D O K O � � (] fA b9 fA fA fH IA fA fA fR a m c } nv o r W N o N H N M M M o M m M N N N ri o N N O oo o o o ion oo o o C M M 47 N O> N N M L v o N N N o v o m N N D1 o M W to df tli to H fR H C_ L W O N M N O c0 sf to 7 M N N M N � m a y r of O, O r N M C �n _ a `m m � N o o O To: Coleen O'Brien ti " From: r 'Maureen McHugh, Jane Parente Date: May 21, 2015 Subject: Purchase Power Summary — April, 2015 Energy Services Division (ESD) has completed the Purchase Power Summary for the month of April, 2015. ENERGY The RMLD's total metered load for the month was 51,949,525 kWh, which is a 1.02% decrease from the April, 2014 figures. Table 1 is a breakdown by source of the energy purchases. 'Pepperell, Woronoco, Indian River, Turner Falls, Collins, Pioneer, Hosiery Mills IR Table 1 Amount of Cost of % of Total Total $ $ as a Resource Energy Energy Energy Costs % (kWh) ($ /Mwh) Millstone #3 3,162,416 $6.71 6.09% $21,220 1.41% Seabrook 5,705,675 $6.69 10.98% $38,149 2.54% Stonybrook Intermediate 148,287 $108.93 0.29% $16,153 1.07% Shell Energy 6,042,400 $72.86 11.63% $440,248 29.27% NextEra 7,264,000 $53.29 13.98% $387,113 25.74% NYPA 2,151,228 $4.92 4.14% $10,584 0.70% ISO Interchange 6,171,853 $37.76 11.88% $233,076 15.50% NEMA Congestion 0 $0.00 0.00% - $789,074 - 52.47% Coop Resales 10,826 $149.67 0.02% $1,620 0.11% SP Energy 7,999,200 $47.73 15.40% $381,802 25.39% Hydro Projects' 5,508,642 $81.50 10.60% $448,976 29.86% Braintree Watson Unit 29,620 $108.46 0.06% $3,213 0.21% Saddleback Wind 303,250 $85.50 0.58% $25,928 1.72% Exelon 7,462,000 $38.17 14.36% $284,841 18.94% Stonybrook Peaking 0 $0.00 0.00% $0 0.00% Monthly Total 51,959,397 $28.94 100.00% $1,503,849 100.00% 'Pepperell, Woronoco, Indian River, Turner Falls, Collins, Pioneer, Hosiery Mills IR Table 2 breaks down the ISO interchange between the DA LMP Settlement and the RT Net Energy for the month of April, 2015. Table 2 Amount Cost % of Total Resource of Energy of Energy Energy (kWh) ($ /Mwh) ISO DA LMP 10,914,315 32.65 20.90% Settlement RT Net Energy'* - 4,742,462 26.00 -9.08% Settlement ISO Interchange 6,171,853 37.76 11.82% (subtotal) " Independent System Operator Day -Ahead Locational Marginal Price Real Time Net Energy APRIL 2015 ENERGY BY RESOURCE Saddleback Wind, 0.1 Braintree Wat Unit, 0.1% Stonybrook Peaking, _Millstone #3, 6.3% 0.0% Stonybrook ermediate, 0.3% R A CAPACITY The RMLD hit a demand of 92,907 kW, which occurred on April 8, at 8 pm. The RMLD's monthly UCAP requirement for April, 2015 was 209,123 kWs. Table 3 shows the sources of capacity that the RMLD utilized to meet its requirements. Table 3 Source Amount (kWs) Cost ($ /kW- month) Total Cost $ % of Total Cost Millstone #3 4,950 34.40 $170,260 11.76% Seabrook 7,919 39.87 $315,728 21.82% Stonybrook Peaking 24,981 1.95 $48,606 3.36% Stonybrook CC 42,925 7.69 $329,979 22.80% NYPA 4,019 4.19 $16,834 1.16% Hydro Quebec 0 0 $16,489 1.14% Nextera 60,000 5.65 $339,000 23.42% Braintree Watson Unit 10,520 11.23 $118,189 8.17% ISO -NE Supply Auction 53,809 1.71 $92,116 6.37% Total 209,123 $6.92 $1,447,201 100.00% Table 4 shows the dollar amounts for energy and capacity per source. Table 4 Cost of % of Amt of Energy Power Resource Energy Capacity Total cost Total Cost (kWh) ($ /kWh) Millstone #3 $21,220 $170,260 $191,480 6.49% 3,162,416 0.0605 Seabrook $38,149 $315,728 $353,877 11.99% 5,705,675 0.0620 Stonybrook Intermediate $16,153 $329,979 $346,132 11.73% 148,287 2.3342 Hydro Quebec $0 $16,489 $16,489 0.56% - 0.0000 Shell Energy $440,248 $0 $440,248 14.92% 6,042,400 0.0729 NextEra $387,113 $339,000 $726,113 24.61% 7,264,000 0.1000 NYPA $10,584 $16,834 $27,418 0.93% 2,151,228 0.0127 ISO Interchange $233,076 $92,116 $325,192 11.02% 6,171,853 0.0527 Nema Congestion - $789,074 $0 - $789,074 - 26.74% - 0.0000 BP Energy $381,802 $0 $381,802 12.94% 7,999,200 0.0477 Hydro Projects $448,976 $0 $448,976 15.21% 5,508,642 0.0815 Braintree Watson Unit $3,213 $118,189 $121,402 4.11% 29,620 4.0986 Saddleback Wind $25,928 $0 $25,928 0.88% 303,250 0.0855 Coop Resales $1,620 $0 $1,620 0.05% 10,826 0.1497 Exelon Energy $284,841 $0 $284,841 9.65% 7,462,000 0.0382 Stonybrook Peaking $0 $48,606 $48,606 1.65% - 0.0000 Monthly Total $1,503,849 $1,447,201 $2,951,050 100.00% 51,959,397 0.0568 * Renewable Resources 15.33% RENEWABLE ENERGY CERTIFICATES (RECs) Table 5 shows the amount of banked and projected RECs for the Swift River Hydro Projects through April 2015, as well as their estimated market value. TRANSMISSION The RMLD's total transmission costs for the month of April, 2015 were $927,050. This is a decrease of 6.13% from the March transmission cost of $987,624. In April, 2014 the transmission costs were $884,256. Table 6 Current Month Table 5 Last Year Peak Demand (kW) 92,907 Swift River RECs Summary 89,095 Energy (kWh) 52,225,977 Period - July 2014 - April 2015 52,441,173 Energy ($) Banked Projected Total Est. Capacity ($) RECs RECs RECs Dollars Woronoco 1,129 838 1,967 $94,416 Pepperell 2,798 2,888 5,686 $272,928 Indian River 1,619 1,242 2,861 $137,328 Turners Falls 1,859 566 2.425 Subtotal 7,405 5,534 12,939 $504,672 RECs Sold 0 $0 Grand Total 7,405 5,534 12,939 $504,672 TRANSMISSION The RMLD's total transmission costs for the month of April, 2015 were $927,050. This is a decrease of 6.13% from the March transmission cost of $987,624. In April, 2014 the transmission costs were $884,256. Table 6 Current Month Last Month Last Year Peak Demand (kW) 92,907 102,366 89,095 Energy (kWh) 52,225,977 58,925,210 52,441,173 Energy ($) $1,503,849 $3,101,904 $2,460,081 Capacity ($) $1,447,201 $1,463,262 $1,324,168 Transmission($) $927,050 $987,624 $884,256 Total $3,878,100 $5,552,790 $4,668,506 UI Z w U_ LL w w r w Z w V cr- � v N (9 C v ti C m 76 U v E E O U 0 0 0 0 0 u, M in r N r `m 0 C� M in r N n m N N O o O jp N O r O O M N N N N m m p O v m N rT M 2 a a o 0 0 0 E0 0 0 0 0_ rn o rn m N to N L _ (0 p w » n w Uco ) W O 6 Q a » » 0 o O o o O O 0 C o N O m O m v Y1 n W M N N O o _m 3 p e m v M M v r n N � a v v too coo M O O D M Ocl� Of M n O tD N CO v v m m N to N m N � N M n n v rn N U w w w p Y n n v o D 0 M m O o 0 m r 10 v N M M N m J as 0 0 0 0 0 M v r m C n v N r O N r IV o y N 10 � a 0 0 ,n N N N co v r� rn r r U � m a 0 y0 p y a 00 oo 00 oo 00 N M U `m a0 c n � � v m v N M N O U a r O N n LL) N n n O N � d �c `m o H H U9 b9 Vi b9 b9 b9 H E p y n o n n m 0) n m a y F- v M y M N N - 7 p a N O O O O O O O O O .n u) O u) �n in O in o r n t v in O O N O 1 0 � p° M 0 7 m v y N M M N M N �N O p a N 0 iInn 10 - 00 00 0 00 N M C? to - n o0 m 70 01 N N m m n (D (0 O) (h N o � m o (n w w w w w w w w �' n rn n � M v m M 10 am .� v v) m �n M M rn r U N f0 p to fA M 1A Vi H H Vi u) N mm O Q) N M m N m n t0 ao 3 a N y r m 00 a `m o N O 0 O V cD M It 0) LO CO O a0 M tom. 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Street W 17,929 79,371 173,000 93,630 104 Upgrade Old Lynnf eld Center URDs (Cook's Farm) LC 71,829 56,087 217,000 160,913 105 4W5 - 4W6 Tie R 55,000 125 70,000 70,000 106 URD Upgrades ALL 150,000 51.425 319,000 267,575 107 Step -down Area Upgrades ALL 21,286 60,872 203,000 142,128 212 Force Account West Street R 10,751 132 224,000 224,000 SUB -TOTAL 85,000 39,215 259,341 1,459,000 1,199,660 80,000 80,000 134 STATION UPGRADES: ALL 82,025 82,025 121,000 38,975 108 Relay Replacement Project - Gaw Station #4 R 2,092 2,092 50.000 50,000 • 110 Stat on 3 - Replacement of Service Cutouts NR 15,949 2,192 63,000 26,719 130 Remote Terminal Unit (RTU) Replacement - Station 3 NR 100,066 351,499 85 000 85,000 810 Station 5 RTU Replacement W 2 884 2,884 - (2,884) SUB -TOTAL 2,884 5,076 135,000 132,116 NEW CUSTOMER SERVICES: 112 New Service Installat,ons (Commercial / Industrial) 113 New Service Installat ons (Residential) SUB -TOTAL ALL 12,465 57,000 44,535 ALL 4,280 97,760 260,000 162,240 4,280 110,225 317,000 206,775 TOTAL CAPITAL BUDGET E 417,084 $ 2,366,349 E 5,852,000 E 3,487,843 ROUTINE CONSTRUCTION: 114 Rout,ne Constriction A-L 147,322 1,381,518 947,000 (434,518) SPECIAL PROJECTS /CAPITAL PURCHASES: 103 D stribution Protection and Automaton ALL 69,000 69,000 116 Transformers and Capacitors ALL 144,980 444,000 299,020 117 Meter Purchases (includ ng "500 Club ") ALL 55.171 127,000 71,829 122 Engineering Ana ys s Software and Data Conversion ALL 55,000 55,000 125 GIS ALL - 150,000 150,000 126 Communication Equ pment (Fiber Optic) A-L 4,700 30,000 25,300 131 LED Street Light Pilot Program ALL 26,250 37,000 10,751 132 Outage Management Software and Integration ALL 85,000 85,000 133 Predictive Asset Management Program ALL 80,000 80,000 134 Substation Test Equipment ALL 82,025 82,025 121,000 38,975 135 Arc Flash Study A-L 2,092 2,092 35,000 32,908 137 SCADA System Upgrade - Hardware ALL 15,949 36,281 63,000 26,719 SUB -TOTAL 100,066 351,499 1,296,000 944,502 OTHER CAPITAL PROJECTS: 118 Rolling Stock Replacement ALL 434,000 434,000 119 Security Upgrades All Sites ALL 5.012 22,265 61,000 38,735 120 Great Plans i Cogsdale Upgrade ALL 7,093 46,443 350,000 303,557 121 HVAC System Upgrade - 230 Ash Street R 10,900 399,000 388,100 123 Oil Containment Facil ty Construction LC 11,168 80,000 68,832 127 Hardware Upgrades ALL 6,805 35 192 102,000 66,808 128 Software and -icensing A_L 39,971 68,287 122,000 53,713 129 Master Faci,it es Site P.an R 50,000 50,000 136 Organizational / Re iabil!ty Studies ALL 64,436 64,436 100 000 35,564 SUB -TOTAL 123,317 258,691 1,698,000 1,439,309 TOTAL CAPITAL BUDGET E 417,084 $ 2,366,349 E 5,852,000 E 3,487,843 READING MUNICIPAL LIGHT DEPARTMENT ,. Engineering and Operations Monthly Report March 2015 CAPITAL IMPROVEMENTS Service Installations — Residential: 113 This item includes new or upgraded overhead and going $4,280 $97,760 underground services. Special Projects /Capital Purchases: 134 Substation Test Equipment 100% $82,025 $82,025 135 ARC Flash Study 100% $2,092 $2,092 137 SCADA System Upgrades 100% $15,949 $36,281 810 Station 5 RTU Replacement 100% $2,884 $2,884 May 6, 2015 1 Complete FY14 -15 Construction Projects: status Month YTD 102 Pole Line Upgrade- Lowell Street, Wilmington 35% $17,929 $79,371 Construction has begun (as of 1/14/15). 107 Step -down Area Upgrades — All Towns On- $21,286 $60,872 Vine Street Area, Reading going New Customer Service Connections: 112 Service Installations — Commercial /industrial: going $12,465 Service Installations — Residential: 113 This item includes new or upgraded overhead and going $4,280 $97,760 underground services. Special Projects /Capital Purchases: 134 Substation Test Equipment 100% $82,025 $82,025 135 ARC Flash Study 100% $2,092 $2,092 137 SCADA System Upgrades 100% $15,949 $36,281 810 Station 5 RTU Replacement 100% $2,884 $2,884 May 6, 2015 1 ROUTINE CONSTRUCTION: MAR YTD Pole Setting/Transfers 56,133 317,599 Overhead/Underground 29,935 385,899 Projects Assigned as Required • Fiber Framing 16,406 236,599 Pole Damage /Knockdowns • Work was done to repair or replace three (3) poles 4,383 37,989 Station Group 97,532 Hazmat/Oil Spills 3,831 Porcelain Cutout Replacement Program 16,549 24,519 Lighting Street Light Connections 2,629 20,414 Storm Trouble 0 34,702 Underground Subdivisions new construction 0 47,434 Animal Guard Installation 0 5,812 Miscellaneous Capital Costs 21,287 169,189 TOTAL: $ 147,322 $ 1,381,518' May 6, 2015 MAINTENANCE PROGRAMS Aged /Overloaded Transformer Replacement through March 31, 2015 Padmount: Single- Phase: 11.69% replaced (of those over 20 years old) Three - Phase: 6.41 % replaced (of those over 20 years old) Overhead: Single- Phase: 9.23% replaced (of those over 20 years old) Three - Phase: 3.33% replaced (of those over 20 years old) Pole Testing System -wide (600 -1,000 poles /year) (as of 5/6/15) Year -one inspection complete: 645 poles tested ( -10 %) 390 silver tag (PASSED) • 233 red tag (FAILED): 76 have been replaced • 22 double red tag (CONDEMNED): 22 have been replaced 29 of 98 transfers have been completed 13.8kV/35kV Feeders - Quarterly Inspections 5W8, 5W9, 5W4, 5W5, 4W7, 4 W23, 3W8, 3W18, 3W6, 3W13, 3W5, 3W15, 4W5, 4W6, 4W13, 4W10, 4W12, 4W16 Miscellaneous branches and vines were found and removed. Manhole Inspections Pending. Porcelain Cutout Replacements (with Polymer) As of March 31, 2015, there are 284 remaining porcelain cutouts to be replaced. 90% complete. Substations: Infrared Scanning (Monthly) Station 3 Scanning complete through March - no hot spots found Station 4 Scanning complete through March - no hot spots found Station 5 Scanning complete through March - no hot spots found Substation Maintenance Program • Inspection of all three stations by UPG in progress. 100% complete May 6, 2015 0 09 SYSTEM RELIABILITY Key industry standard metrics have been identified to enable the RMLD to measure and track system reliability. SAIDI (System Average Interruption Duration Index) is defined as the average interruption duration (in minutes) for customers served by the utility system during a specific time period. SAIDI = the sum of all customer interruption durations within the specified time frame _ by the average number of customers served during that period. SAIDI 2010 -2015 100.00 90.00 80.00 __ __ _. _..,_ - ...._._.........._..... 85.75 - - -- -- _ � 2010 70.00 - -- - - -- -- - - - - - -- - -- — � 2011 60.00 ___..�,_- �� S.__ _ - — � 2012 50.00 40.00 _ � 2013 30.00 � 2014 20.00 ftj � 2015 YTD 10.00 2.79 0.00 Region Average 2010 - 2011 - 2012 - 2013 - 2014 - 2015 National Average Average SAIDI SAIFI (System Average Interruption Frequency) is defined as the average number of instances a customer on the utility system will experience an interruption during a specific time period. 0.90 0.80 0.70 0.60 - 0.50 0.40 0.30 0.20 0.10 0.00 SAIFI = the total number of customer interruptions _ average number of customers served during that period. SAIFI 2010 -2015 2010 -2011 -2012 - 2013 - 2014 -2015 Average SAIFI May 6, 2015 0.83 0.55 X2010 X2011 � 2012 X2013 X2014 � 2015 YTD Region Average National Average 4 A_4 CAIDI (Customer Average Interruption Duration Index) is defined as the average duration (in minutes) of an interruption experienced by customers during a specific time frame. CAIDI = the sum of all customer interruption durations during that time period _ the number of customers that experienced one or more interruptions during that time period. CAIDI 2010 -2015 � 2010 � 2011 ■ 2012 � 2013 X2014 � 2015 YTD Region Average 2010- 2011 - 2012 - 2013 - 2014 -2015 National Average Average CAIDI This matric reflects the average customer experience (minutes of duration) during an outage. Note: Since SAIDI, SAIFI and CAIDI are sustained interruption indices; only outages lasting longer than one minute are included in the calculations. May 6, 2015 5 LAI A Outages Causes Calendar YTD (from eReliability website) January • March 2015 r Unknown Weather 7 10 3% Vehicle Accident 4% 10 4% May 6, 2015 Utility Human Error 1 1% +6• -. Natural 1 0% Outage Cause Tout Outage Causes Annual Average 2010 -2015 ■ Equipment ■ Tree ■ Wildlife ■ Vehicle Accident • Weather • Unknown Utility Human Error • Natural Count 25 91 TOTAL CAPITAL BUDGET $ 267,270 $ 2,633,619 $ 5,852,000 $ 3,220,573 " completed project READING MUNICIPAL LIGHT DEPARTMENT FY 15 CAPITAL BUDGET VARIANCE REPORT FOR PERIOD ENDING APRIL 30, 2015 ACTUAL COST YTD ANNUAL REMAINING PROJ DESCRIPTION TOWN APR ADDITIONS BUDGET BALANCE CONSTRUCTION: 101 5W9 Reconductoring - Ballardvale Area W 11,586 253,000 241,414 102 Pole Line Upgrade Lowell Street W 37,948 117,319 173,000 55,682 104 Upgrade Old Lynnfield Center URDs (Cook's Farm) LC 56,087 217,000 160,913 105 4W5 - 4W6 Tie R 70,000 70,000 106 URD Upgrades ALL 4,384 55,809 319,000 263,191 107 Step -down Area Upgrades ALL 777 61,649 203,000 141,351 212 Force Account West Street R 24,910 24,910 224,000 199,090 SUB -TOTAL 68,019 327,360 1,459,000 1,131,641 STATION UPGRADES: 108 Relay Replacement Project - Gaw Station #4 R 50,000 50,000 " 110 Station 3 - Replacement of Service Cutouts NR 2,192 130 Remote Terminal Unit (RTU) Replacement - Station 3 NR 85,000 85,000 810 Station 5 RTU Replacement W 2,884 - (2,884) SUB -TOTAL 5,076 135,000 132,116 NEW CUSTOMER SERVICES: 112 New Service Installations (Commercial / Industrial) ALL 12,465 57,000 44,535 113 New Service Installations (Residential) ALL 14,473 112,233 260,000 147,767 SUB -TOTAL 14,473 124,698 317,000 192,302 ROUTINE CONSTRUCTION: 114 Routine Construction ALL 147,745 1,529,263 947,000 (582,263) SPECIAL PROJECTS / CAPITAL PURCHASES: 103 Distribution Protection and Automation ALL 69,000 69,000 116 Transformers and Capacitors ALL 144,980 444,000 299,020 117 Meter Purchases (including "500 Club ") ALL 55,171 127,000 71,829 122 Engineering Analysis Software and Data Conversion ALL 55,000 55,000 125 GIS ALL - 150,000 150,000 126 Communication Equipment (Fiber Optic) ALL 4,700 30,000 25,300 " 131 LED Street Light Pilot Program ALL 26,250 37,000 10,751 132 Outage Management Software and Integration ALL 85,000 85,000 133 Predictive Asset Management Program ALL 80,000 80,000 134 Substation Test Equipment ALL 82,025 121,000 38,975 135 Arc Flash Study ALL 2,092 35,000 32,908 137 SCADA System Upgrade - Hardware ALL 36,281 63,000 26,719 SUB -TOTAL - 351,499 1,296,000 944,502 OTHER CAPITAL PROJECTS: 118 Rolling Stock Replacement ALL 434,000 434,000 119 Security Upgrades All Sites ALL 22,265 61,000 38,735 120 Great Plains / Cogsdale Upgrade ALL 2,620 49,063 350,000 300,937 121 HVAC System Upgrade - 230 Ash Street R 4,640 15,540 399,000 383,460 123 Oil Containment Facility Construction LC 424 11,592 80,000 68,408 127 Hardware Upgrades ALL 11,949 47,141 102,000 54,859 128 Software and Licensing ALL 17,400 85,687 122,000 36,313 129 Master Facilities Site Plan R 50,000 50,000 136 Organizational / Reliability Studies ALL 64,436 100,000 35,564 SUB -TOTAL 37,033 295,724 1,698,000 1,402,276 TOTAL CAPITAL BUDGET $ 267,270 $ 2,633,619 $ 5,852,000 $ 3,220,573 " completed project `%01 READING MUNICIPAL LIGHT DEPARTMENT Engineering and Operations Monthly Report April 2015 CAPITAL IMPROVEMENTS May 18, 2015 1 Complete FY14 -15 Construction Projects: status Month YTD 102 Pole Line Upgrade- Lowell Street, Wilmington 60% $37,948 $117,319 • Construction has begun (as of 1/14/15). 106 URD Upgrades On- $4,384 $55,809 Center Village, Lynnfield going 107 Step -down Area Upgrades —All Towns going $777 $61,649 212 West Street — Force Account, Reading 35% $24,910 $24,910 New Customer Service Connections: 112 Service Installations — Commercial /Industrial: $12,465 going Service Installations — Residential: 113 This item includes new or upgraded overhead and $14,473 $112,233 underground services. going May 18, 2015 1 In ROUTINE CONSTRUCTION: April YTD Pole Setting/Transfers 40,389 357,988 Overhead/Underground 21,480 407,379 Projects Assigned as Required • Hillview Country Club, North Reading • 4W12 Cable Replacement, Reading • Fiber Framing 50,903 287,502 Pole Damage /Knockdowns • Work was done to repair or replace four 4 poles. 4,346 42,335 Station Group 6,513 104,045 Hazmat/Oil Spills 3,831 Porcelain Cutout Replacement Program 1,093 25,612 Lighting Street Light Connections 213 20,627 Storm Trouble 971 35,672 Underground Subdivisions new construction 9,949 57,383 Animal Guard Installation 5,812 Miscellaneous Capital Costs 11,887 181,076 TOTAL: $ 147,745 _$ 1 529,263 May 18, 2015 Lr. MAINTENANCE PROGRAMS Aged /Overloaded Transformer Replacement through April 30, 2015 Padmount: Single- Phase: 12.66% replaced (of those over 20 years old) Three - Phase: 7.69% replaced (of those over 20 years old) Overhead: Single- Phase: 9.77% replaced (of those over 20 years old) Three - Phase: 3.33% replaced (of those over 20 years old) Pole Testing System -wide (600 -1,000 poles /year) (as of 5/18/15) Year -one inspection complete: 645 poles tested ( -10 %) • 390 silver tag (PASSED) • 233 red tag (FAILED): 77 have been replaced • 22 double red tag (CONDEMNED): 22 have been replaced 30 of 99 transfers have been completed 13.8kV/35kV Feeders - Quarterly Inspections 5W8, 5W9, 5W4, 5W5, 4W7, 4 W23, 3W8, 3W18, 3W6, 3W13, 3W5, 3W15, 4W5, 4W6, 4W13, 4W10, 4W12, 4W16 Miscellaneous branches and vines were found and removed. Manhole Inspections Pending. Porcelain Cutout Replacements (with Polymer) As of April 30, 2015, there are 284 remaining porcelain cutouts to be replaced. 90% complete. Substations: Infrared Scanning (Monthly) Station 3 Scanning complete through April - no hot spots found Station 4 Scanning complete through April - no hot spots found Station 5 Scanning complete through April - no hot spots found Substation Maintenance Program • Inspection of all three stations by UPG in progress. 100% complete May 18, 2015 SYSTEM RELIABILITY Key industry standard metrics have been identified to enable the RMLD to measure and track system reliability. SAIDI (System Average Interruption Duration Index) is defined as the average interruption duration (in minutes) for customers served by the utility system during a specific time period. SAIDI = the sum of all customer interruption durations within the specified time frame -t by the average number of customers served during that period. SAIDI 2010-2015 100.00 90.00 80.00 70.00 - 60.00 50.00 40.00 30.00 20.00- - -- 10.00 = - 2.08 0.00 2010 - 2011 - 2012- 2013 - 2014.2015 Average SAIDI 85.75 62.35 X2010 X2011 + 2012 X2013 � 2014 � 2015 YTD Region Average National Average SAIFI (System Average Interruption Frequency) is defined as the average number of instances a customer on the utility system will experience an interruption during a specific time period. 0.90 0.80 0.70 0.60 0.50 0.40 0.30 0.20 0.10 0.00 SAIFI = the total number of customer interruptions _ average number of customers served during that period. SAIFI 2010 -2015 _ _._0_83 2010 - 2011 - 2012 - 2013 -2014 -2015 Average SAM May 18, 2015 0.55 X2010 X2011 � 2012 X2013 X2014 � 2015 YTD Region Average National Average 4 M CAIDI (Customer Average Interruption Duration Index) is defined as the average duration (in minutes) of an interruption experienced by customers during a specific time frame. CAIDI = the sum of all customer interruption durations during that time period _ the number of customers that experienced one or more interruptions during that time period. CAIDI 2010 -2015 2010- 2011 - 2012 - 2013 -2014 -2015 Average CAIDI X2010 X2011 2012 X2013 X2014 2015 YTD Region Average National Average This matric reflects the average customer experience (minutes of duration) during an outage. Note: Since SAIDI, SAIR and CAIDI are sustained interruption indices; only outages lasting longer than one minute are included in the calculations. May 18, 2015 5 Outages Causes Calendar YTD (from eReliability website) Januuy April 2015 1e` ,rat. r+,,,. ,,• E is y, Unknown Weather 7 10 3% Vehicle Accident 4% 10 4% May 18, 2015 Utility Human Error 1 1% Natural 1 0% Outage Cause Count Total 32 Outage Causes Annual Average 2010 -2015 ■ Equipment Tree -- Wildlife • Vehicle Accident • Weather • Unknown Utility Human Error • Natural 31 C7 w U Z Q Z w v1 F- W Z N Q W � a x Q W Z Q Z U Q LU Q. O Iq Ln L !6 E L to I i O O O O O O O o CD O O o 0 N O 00 to CY N C N E L U f0 a M r� Ln rn r, U-1 O N LL I M O 00 } � O M N 00 } 0 r` LL m N N CO Ql N N 00 } M r\ LL 0) N O r\ cy a> >- N O LL 01 � W U Z Z a Z � cZ G u z a z W F- Z a (D Z H a W a- 0 1 Dt: May 5, 2015 To: RMLB, Coleen O'Brien, Jeanne Foti Fr: Bob Fournier Sj: March 31, 2015 Report The results for the first nine months ending March 31, 2015, for the fiscal year 2015 will be summarized in the following paragraphs. 1) Change in Net Assets: (Page 3A) *For the month of March, the net loss or the negative change in net assets was $817,072 decreasing the year to date net income to $1,957,387. The year to date budgeted net income was $1,595,375, resulting in net income being over budget by $362,012 or 22.7 %. Actual year to date fuel expenses exceeded fuel revenues by $528,071 and purchased power capacity and transmission (ppct) revenues exceed ppct expenses by $680,901. 2) Revenues: (Page 3A) *Year to date base revenues were under budget by $367,498 or 2.18 %. Actual base revenues were $16.4 million compared to the budgeted amount of $16.8 million. 3) Expenses: (Page 12A) *Year to date purchased power base expense was over budget by $506,010 or 2.3 %. Actual purchased power base costs were 22.0 million and budgeted power base costs were $21.5 million. *Year to date operating and maintenance (O &M) expenses combined were over budget by $28,274 or .27 %. Actual O &M expenses and budgeted expenses were at $10.6 million. *Depreciation expense and voluntary payments to the Towns were on budget. 4) Cash: (Page 9) *Operating Fund was at $11,725,347. * Capital Fund balance was at $5,738,974. * Rate Stabilization Fund was at $6,759,552. * Deferred Fuel Fund was at $3,604,623. * Energy Conservation Fund was at $584,792. 5) General Information: *Year to date kwh sales (Page 5) were 528,921,813 which is 1,970,998 million kwh or .37 %, behind last year's actual figure. Budget Variance: *Cumulatively, the five divisions were over budget by $2,575 or .02% C FINANCIAL REPORT MARCH 31, 2015 ISSUE DATE: MAY 43 2015 ASSETS CURRENT UNRESTRICTED CASH RESTRICTED CASH RESTRICTED INVESTMENTS RECEIVABLES, NET PREPAID EXPENSES INVENTORY TOTAL CURRENT ASSETS NONCURRENT INVESTMENT IN ASSOCIATED CO CAPITAL ASSETS, NET TOTAL NONCURRENT ASSETS TOTAL ASSETS TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT BUSINESS -TYPE PROPRIETARY FUND STATEMENT OF NET ASSETS 3/31/2015 PREVIOUS YEAR CURRENT YEAR (SCH A P.9) 13,893,614.38 11,728,347.39 (SCH A P.9) 15,191,576.82 20,526,355.15 (SCH A P.9) 1,250,000.00 1,292,906.26 (SCH B P.10) 6,005,915.12 7,716,416.82 (SCH B P.10) 943,553.46 1,900,447.64 1,453,723.81 1,628,593.44 38,738,383.59 44,793,066.70 (SCH C P.2) 31,379.32 26,993.75 (SCH C P.2) 70,296,648.63 69,664,353.99 70,328,027.95 69,691,347.74 LIABILITIES CURRENT ACCOUNTS PAYABLE CUSTOMER DEPOSITS CUSTOMER ADVANCES FOR CONSTRUCTION ACCRUED LIABILITIES TOTAL CURRENT LIABILITIES NONCURRENT ACCRUED EMPLOYEE COMPENSATED ABSENCES TOTAL NONCURRENT LIABILITIES TOTAL LIABILITIES NET ASSETS INVESTED IN CAPITAL ASSETS, NET OF RELATED DEBT RESTRICTED FOR DEPRECIATION FUND (P.9) UNRESTRICTED TOTAL NET ASSETS (P.3) 109,066,411.54 114,484,414.44 7,901,585.69 731,657.83 399,624.15 190,641.25 9,223,508.92 2,885,367.88 2,885,367.88 6,169,828.91 834,407.02 558,908.48 171,677.77 7,734,822.18 2,918,870.73 2,918,870.73 12,108,876.80 10,653,692.91 70,296,648.63 69,664,353.99 4,137,612.78 5,738,974.40 22,523,273.33 28,427,393.14 96,957,534.74 103,830,721.53 TOTAL LIABILITIES AND NET ASSETS 109,066,411.54 114,484,414.44 C TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT NONCURRENT ASSET SCHEDULE 3/31/2015 PREVIOUS YEAR SCHEDULE OF INVESTMENTS IN ASSOCIATED COMPANIES NEW ENGLAND HYDRO ELECTRIC 3,261.87 NEW ENGLAND HYDRO TRANSMISSION 28,117.45 TOTAL INVESTMENTS IN ASSOCIATED COMPANIES 31,379.32 SCHEDULE OF CAPITAL ASSETS 1,265,842.23 STRUCTURES AND IMPROVEMENTS 6,430,639.92 EQUIPMENT AND FURNISHINGS 12,977,665.68 INFRASTRUCTURE 49,622,500.60 TOTAL CAPITAL ASSETS, NET 70,296,648.63 TOTAL NONCURRENT ASSETS 70,328,027.95 (2) SCHEDULE C CURRENT YEAR 2,975.74 24,018.01 26,993.75 1,265,842.23 6,306,838.38 12,551,310.68 49,540,362.70 69,664,353.99 69,691,347 74 TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT BUSINESS -TYPE PROPRIETARY FUND STATEMENT OF REVENUES, EXPENSES AND CHANGES IN FUND NET ASSETS 3/31/2015 OPERATING REVENUES: (SCH D P.11) BASE REVENUE FUEL REVENUE PURCHASED POWER CAPACITY FORFEITED DISCOUNTS ENERGY CONSERVATION REVENUE GAW REVENUE NYPA CREDIT TOTAL OPERATING REVENUES OPERATING EXPENSES: (SCH E P.12) PURCHASED POWER CAPACITY PURCHASED POWER TRANSMISSION PURCHASED POWER FUEL OPERATING MAINTENANCE DEPRECIATION VOLUNTARY PAYMENTS TO TOWNS TOTAL OPERATING EXPENSES OPERATING INCOME NONOPERATING REVENUES (EXPENSES) CONTRIBUTIONS IN AID OF CONST RETURN ON INVESTMENT TO READING INTEREST INCOME INTEREST EXPENSE OTHER (MDSE AND AMORT) TOTAL NONOPERATING REV (EXP) CHANGE IN NET ASSETS NET ASSETS AT BEGINNING OF YEAR NET ASSETS AT END OF MARCH MONTH MONTH LAST YEAR CURRENT YEAR YTD 6 LAST YEAR CURRENT YEAR TO DATE TO DATE CHANGE 3,890,772.46 1,617,939.53 1,463,262.28 35,242,208.28 16,456,711.52 3,049,133.54 2,372,124.71 24,255,077.82 26,171,814.75 170,209.37 2,394,543.72 509,434.06 22,667,928.12 90,400.98 111,905.43 709,048.71 646,656.96 54,551.61 51,465.20 522,540.03 517,597.83 14,415.68 0.00 489,669.08 0.00 (321,914.91) ____(130,242.61) (858,927.11) (727,657.76) 6,947,568.73 6,417,735.98 60,869,050.87 65,733,051.42 1,426,843.70 1,463,262.28 13,136,735.11 12,625,378.23 897,755.34 951,509.01 8,700,383.05 9,161,648.07 3,420,919.01 3,101,903.54 25,763,796.92 25,972,228.26 820,478.90 851,655.64 7,314,220.74 8,137,944.46 244,128.37 288,712.09 2,144,643.09 2,530,390.24 314,969.55 321,788.79 2,834,725.95 2,896,099.11 116,666.67 118,000.00 1,048,517.01 1,052,754.00 7,241,761.54 7,096,831.35 60,943,021.87 62,576,442.37 - 53.306 7.906 4349.636 -8.806 -0.956 - 100.006 - 15.286 7.996 -2.376 5.306 0.816 11.266 17.996 2.176 0.406 2.686 (294,192.81) (679,095.37) (73,971.00) 3,156,609.05 - 4367.366 1,918.87 0.00 33,102.73 89,491.75 170.356 (191,768.42) (194,405.26) (1,725,915.76) (1,749,647.28) 1.386 10,469.72 5,641.29 46,253.54 98,271.69 112.466 (251.77) (251.41) (3,440.89) (3,544.86) 3.026 45,164.06 51,038.49 364,327.33 366,207.02 0.526 (134,467.54) (137,976.89) (1,285,673.05) (1,199,221.68) -6.726 (428,660.35) (817,072.26) (1,359,644.05) 1,957,387.37 - 243.966 98,317,178.79 101,873,334.16 3.626 96,957,534.74 103,830,721.53 7.096 TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT BUSINESS -TYPE PROPRIETARY FUND STATEMENT OF REVENUES, EXPENSES AND CHANGES IN FUND NET ASSETS 3/31/2015 ACTUAL BUDGET OPERATING REVENUES: (SCH F P.11B) YEAR TO DATE YEAR TO DATE VARIANCE* CHANGE BASE REVENUE 16,456,711.52 16,824,210.00 (367,498.48) -2.18% FUEL REVENUE 26,171,814.75 28,237,970.00 (2,066,155.25) -7.32% PURCHASED POWER CAPACITY 22,667,928.12 22,297,499.00 370,429.12 1.66% FORFEITED DISCOUNTS 646,656.96 850,927.00 (204,270.04) - 24.01% ENERGY CONSERVATION REVENUE 517,597.83 529,694.00 (12,096.17) -2.28% NYPA CREDIT (727,657.76) (524,997.00) (202,660.76) 38.60% TOTAL OPERATING REVENUES 65,733,051.42 68,215,303.00 (2,482,251.58) -3.64% OPERATING EXPENSES: (SCH G P.12A) PURCHASED POWER CAPACITY 12,825,378.23 12,255,551.00 569,827.23 4.65% PURCHASED POWER TRANSMISSION 9,161,648.07 9,225,465.00 (63,816.93) -0.69% PURCHASED POWER FUEL 25,972,228.26 29,197,957.00 (3,225,728.74) - 11.05% OPERATING 76.91% 8,137,944.46 8,196,522.00 (58,577.54) -0.71% MAINTENANCE 2,530,390.24 2,443,538.00 86,852.24 3.55% DEPRECIATION 2,896,099.11 2,918,997.00 (22,897.89) -0.78% VOLUNTARY PAYMENTS TO TOWNS 1,052,754.00 11062,000.00 (9,246.00) -0.87% TOTAL OPERATING EXPENSES 62,576,442.37 65,300,030.00 (2,723,587.63) -4.17% OPERATING INCOME 3,156,609.05 2,915,273.00 241,336.05 8.28% NONOPERATING REVENUES (EXPENSES) CONTRIBUTIONS IN AID OF CONST RETURN ON INVESTMENT TO READING INTEREST INCOME INTEREST EXPENSE OTHER (MDSE AND AMORT) TOTAL NONOPERATING REV (EXP) CHANGE IN NET ASSETS NET ASSETS AT BEGINNING OF YEAR NET ASSETS AT END OF MARCH * ( ) = ACTUAL UNDER BUDGET 89,491.75 150,000.00 (60,508.25) - 40.34% (1,749,647.28) (1,749,645.00) (2.28) 0.00% 98,271.69 74,997.00 23,274.69 31.03% (3,544.86) (2,250.00) (1,294.86) 57.55% 366,207.02 207,000.00 159,207.02 76.91% (1,199,221.68) (1,319,898.00) 120,676.32 -9.14% 1,957,387.37 1,595,375.00 362,012.37 101,873,334.16 101,873,334.16 0.00 103,830,721.53 103,468,709.16 362,012.37 (3A) 22.69% 0.00% 0.35% TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT RECONCILIATION OF CAPITAL FUNDS 3/31/2015 SOURCE OF CAPITAL FUNDS: DEPRECIATION FUND BALANCE 7/1/14 CONSTRUCTION FUND BALANCE 7/1/14 INTEREST ON DEPRECIATION FUND FY 15 DEPRECIATION TRANSFER FY 15 OTHER - LED GRANT TOTAL SOURCE OF CAPITAL FUNDS USE OF CAPITAL FUNDS: LESS PAID ADDITIONS TO PLANT THRU MARCH GENERAL LEDGER CAPITAL FUNDS BALANCE 3/31/15 (4) 4,130,584.59 1,000,000.00 16,139.00 2,896,099.11 62,500.00 8,105,322.70 2,366,348.30 5,738,974.40 TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT SALES OF KILOWATT HOURS 3/31/2015 SALES OF ELECTRICITY: MONTH LAST YEAR MONTH CURRENT YEAR LAST YEAR TO CURRENT YEAR YTD % DATE TO DATE CHANGE RESIDENTIAL SALES 20,848,488 20,626,652 202,363,496 199,492,134 -1.42% COMM. AND INDUSTRIAL SALES 31,768,994 29,273,602 304,897,175 304,911,288 0.00% PRIVATE STREET LIGHTING 76,479 79,624 675,927 712,545 5.42% TOTAL PRIVATE CONSUMERS 52,693,961 49,979,878 507,936,598 505,115,967 -0.56% MUNICIPAL SALES: STREET LIGHTING 240,064 237,189 2,158,478 2,179,674 0.98% MUNICIPAL BUILDINGS 884,289 785,967 7,350,967 7,432,444 1.11% TOTAL MUNICIPAL CONSUMERS 1,124,353 1,023,156 9,509,445 9,612,118 1.08% SALES FOR RESALE 284,914 246,558 2,591,545 2,584,169 -0.28% SCHOOL 1,341,677 1,291,370 10,855,223 11,609,559 6.95% TOTAL KILOWATT HOURS SOLD 55,444,905 52,540,962 530,892,811 528,921,813 -0.37% (5) TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT KILOWATT HOURS SOLD BY TOWN 3/31/2015 MONTH TOTAL READING LYNNFIELD NO.READING WILMINGTON RESIDENTIAL COMM 20,626,652 6,751,327 2,663,968 4,885,817 6,325,540 & IND PVT ST LIGHTS 29,273,602 79,624 3,793,204 208,689 4,404,108 20,867,601 PUB ST LIGHTS 237,189 13,418 79,671 1,490 32,299 24,791 39,925 MUNI BLDGS 785,967 257,775 134,583 41,206 120,819 84,013 SALES /RESALE 246,558 246,558 0 272,790 SCHOOL 1,291,370 441,017 239,928 0 260,940 0 349,485 TOTAL 52,540,962 11,582,970 3,280,957 27,939,354 9,737,681 YEAR TO DATE RESIDENTIAL 199,492,134 62,381,127 28,379,843 45,642,242 63,088,922 COMM & IND 304,911,288 38,245,933 2,396,039 47,012,246 217,257,070 PVT ST LIGHTS 712,545 120,446 13,649 223,339 355,111 PUB ST LIGHTS 2,179,674 732,410 294,595 382,641 770,028 MUNI BLDGS SALES /RESALE 7,432,444 2,031,996 1,511,121 1,281,400 2,607,927 2,584,169 2,584,169 0 0 SCHOOL 11,609,559 3,910,113 2,400,757 1,980,040 0 3,318,649 TOTAL 528,921,813 - 110,006,194 34,996,004 287,397,707 96,521,908 LAST YEAR TO DATE RESIDENTIAL 202,363,496 64,089,035 28,385,340 46,971,337 62,917,784 COMM & IND 304,897,175 38,581,340 2,483,314 47,824,019 216,008,502 PVT ST LIGHTS 675,927 118,009 12,680 204,680 340,558 PUB ST LIGHTS 2,158,478 726,138 292,500 377,757 762,083 MUNI BLDGS 7,350,967 2,054,108 1,445,389 1,289,327 2,562,143 SALES /RESALE 2,591,545 2,591,545 0 0 SCHOOL 10,855,223 3,873,370 2,445,386 1,351,200 0 3,185,267 TOTAL 530,892,811 112,033,545 35,064,609 285,776,337 98,018,320 KILOWATT HOURS SOLD TO TOTAL MONTH TOTAL READING LYNNFIELD NO.READING WILMINGTON RESIDENTIAL 39.26% 12.85% 5.0796 9.30% 12.04% COMM & IND 55.72% 7.22% 0.40% 8.38% 39.72% PVT ST LIGHTS 0.15% 0.03% 0.00% 0.05% 0.07% PUB ST LIGHTS 0.45% 0.15% 0.06% 0.08% 0.16% MUNI BLDGS 1.50% 0.49% 0.26% 0.23% 0.52% SALES /RESALE 0.47% 0.47% 0.00% 0.00% 0.00% SCHOOL 2.45% 0.84% 0.46% 0.50% 0.65% TOTAL 100.00% 22.05% 6.25% 18.54% 53.16% YEAR TO DATE RESIDENTIAL 37.72% 11.79% 5.37% 8.63% 11.93% COMM & IND 57.65% 7.23% 0.45% 8.89% 41.08% PVT ST LIGHTS 0.13% 0.02% 0.00% 0.04% 0.07% PUB ST LIGHTS 0.41% 0.14% 0.06% 0.07% 0.14% MUNI BLDGS 1.41% 0.38% 0.29% 0.24% 0.50% SALES /RESALE 0.49% 0.49% 0.00% 0.00% 0.00% SCHOOL 2.19% 0.74% 0.45% 0.37% 0.63% TOTAL 100.00% 20.79% 6.62% 54.35% 18.24% LAST YEAR TO DATE RESIDENTIAL 38.12% 12.07% 5.35% 8.85% 11.85% COMM & IND 57.43% 7.27% 0.47% 9.01% 40.68% PVT ST LIGHTS 0.13% 0.02% 0.00% 0.04% 0.07% PUB ST LIGHTS 0.41% 0.14% 0.06% 0.07% 0.14% MUNI BLDGS 1.38% 0.39% 0.27% 0.24% 0.48% SALES /RESALE 0.49% 0.49% 0.00% 0.00% 0.00% SCHOOL 2.04% 0.73% 0.46% 0.25% 0.60% TOTAL 100.00% 21.11% 6.61% 18.46% 53.82% (6) ET 1-1 TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT FORMULA INCOME 3/31/2015 TOTAL OPERATING REVENUES (P,3) ADD: LESS: POLE RENTAL INTEREST INCOME ON CUSTOMER DEPOSITS OPERATING EXPENSES (P.3) CUSTOMER DEPOSIT INTEREST EXPENSE FORMULA INCOME (LOSS) (7) 65,733,051.42 0.00 3,566.17 (62,576,442.37) (3,544.86) 3,156,630.36 SALE OF KWH ( P . 5 ) KWH PURCHASED AVE RASE COST PER KWH AVE BASE SALE PER KWH AVE COST PER KWH AVE SALE PER KWH FUEL CHARGE REVENUE (P.3) LOAD FACTOR P GOAD IR TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT GENERAL STATISTICS 3/31/2015 MONTH OF MAR 2014 55,444,905 59,029,265 0.039380 0.070174 0.097333 0.125168 2,727,218.63 77.13% 104,839 MONTH OF % CHANGE YEAR THRU MAR 2015 2014. 2015 MAR 2014 MAR 2015 52,540,962 -1.45% -0.37% 530,892,811 528,921,813 58,925,210 -0.49% -3.04% 551,961,652 535,201,067 0.024833 2.80% - 39.43% 0.039563 0.023964 0.030794 2.56% - 53.13% 0.066383 0.031114 0.077474 0.33% - 15.94% 0.086240 0.072492 0.075942 -2.57% - 28.09% 0.112070 0.080595 2,241,882.10 - 11.84% 8.75% 23,396,150.71 25,444,156.99 78.85% 102,366 (8) TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT SCHEDULE OF CASH AND INVESTMENTS 3/31/2015 UNRESTRICTED CASH CASH - OPERATING FUND CASH - PETTY CASH TOTAL UNRESTRICTED CASH RESTRICTED CASH CASH - DEPRECIATION FUND CASH - TOWN PAYMENT CASH - DEFERRED FUEL RESERVE CASH - RATE STABILIZATION FUND CASH - UNCOLLECTIBLE ACCTS RESERVE CASH - SICK LEAVE BENEFITS CASH - HAZARD WASTE RESERVE CASH - CUSTOMER DEPOSITS CASH - ENERGY CONSERVATION TOTAL RESTRICTED CASH INVESTMENTS SICK LEAVE BUYBACK SCHEDULE A PREVIOUS YEAR CURRENT YEAR 13,890,614.38 11,725,347.39 3,000.00 3,000.00 13,893,614.38 11,728,347.39 4,137,612.78 925,305.27 241,841.17 6,709,447.36 200,000.00 1,645,706.94 150,000.00 731,657.83 450,005.47 5,738,974.40 937,215.75 3,604,623.69 6,759,552.68 200,000.00 1,716,789.36 150,000.00 834,407.02 584,792.25 15,191,576.82 20,526,355.15 1,292,906.26 1,250,000.00 TOTAL CASH BALANCE 30,335,191.20 33,547,608.80 (9) TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT SCHEDULE OF ACCOUNTS RECEIVABLE 3/31/2015 PREVIOUS YEAR SCHEDULE OF ACCOUNTS RECEIVABLE RESIDENTIAL AND COMMERCIAL 2,167,663.98 ACCOUNTS RECEIVABLE - OTHER 75,136.50 ACCOUNTS RECEIVABLE - LIENS 37,169.47 ACCOUNTS RECEIVABLE - EMPLOYEE ADVANCES 892.14 SALES DISCOUNT LIABILITY (220,754.60) RESERVE FOR UNCOLLECTIBLE ACCOUNTS (212,214.87) TOTAL ACCOUNTS RECEIVABLE BILLED 1,847,892.62 UNBILLED ACCOUNTS RECEIVABLE 4,158,022.50 TOTAL ACCOUNTS RECEIVABLE, NET 6,005,915.12 SCHEDULE OF PREPAYMENTS PREPAID INSURANCE PREPAYMENT PURCHASED POWER PREPAYMENT PASNY PREPAYMENT WATSON PURCHASED POWER WORKING CAPITAL TOTAL PREPAYMENT u ACCOUNTS RECEIVABLE AGING MARCH 2015: RESIDENTIAL AND COMMERCIAL LESS: SALES DISCOUNT LIABILITY GENERAL. LEDGER BALANCE m CURRENT 30 DAYS 60 DAYS 90 DAYS OVER 90 DAYS TOTAL 1,018,637.22 (606,229.13) 242,260.90 274,360.77 14,523.70 943,553.46 2,434,566.15 (189,102.33) 2,245,463.82 1,682,844.67 74.95% 421,241.29 18.76% 72,056.60 3.21% 21,631.88 0.96% 47,689.38 2.12% 2,245,463.82 100.00% SCHEDULE B CURRENT YEAR 2,434,566.15 103,232.78 33,214.37 892.14 (189,102.33) A288,655.57) 2,094,147.54 5,622,269.28 7,716,416.82 1,008,368.32 358,882.24 259,957.39 260,539.58 12,700.11 1,900,447.64 TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT SCHEDULE OF OPERATING REVENUE 3/31/2015 SCHEDULE D (11) MONTH MONTH LAST YEAR CURRENT YEAR YTD % SALES OF ELECTRICITY: LAST YEAR CURRENT YEAR TO DATE TO DATE CHANGE RESIDENTIAL SALES 2,895,802.39 1,859,329.86 25,311,684.49 18,896,674.52 - 25.34% COMA AND INDUSTRIAL SALES 3,700,746.74 2,014,889.49 31,577,868.74 21,795,933.70 - 30.98% PRIVATE STREET LIGHTING 6,657.81 9,148.12 51,714.40 84,797.20 63.9796 TOTAL PRIVATE CONSUMERS 6,603,206.94 3,883,367.47 56,941,267.63 40,777,405.42 - 28.39% MUNICIPAL SALES: STREET LIGHTING 30,676.78 (64,851.50) 247,385.70 174,044.60 - 29.65% MUNICIPAL BUILDINGS 109,418.66 59,375.40 832,026.41 582,186.39 - 30.03% TOTAL MUNICIPAL CONSUMERS 140,095.44 (5,476.10) 1,079,412.11 756,230.99 - 29.94% SALES FOR RESALE 36,669.33 19,691.69 300,347.00 219,485.22 - 26.92% SCHOOL 159,934.29 92,481.18 1,176,259.36 875,404.64 - 25.58% UB -TOTAL 6,939,906.00 3,990,064.24 59,497,286.10 42,628,526.27 - 28.35% FORFEITED DISCOUNTS 90,400.98 111,905.43 709,048.71 646,656.96 -8.80% PURCHASED POWER CAPACITY 170,209.37 2,394,543.72 509,434.06 22,667,928.12 4349.63% ENERGY CONSERVATION - RESIDENTIAL 20,863.23 20,658.31 202,475.22 199,629.26 -1.41% ENERGY CONSERVATION - COMMERCIAL 33,688.38 30,806.89 320,064.81 317,968.57 -0.65% GAW REVENUE 14,415.68 0.00 489,669.08 0.00 - 100.00% NYPA CREDIT (321,914.91) (130,242.61) (858,927.11) (727,657.76) - 15.28% TOTAL REVENUE 6,417,735.98 7.99% 6,947,568.73 60,869,050.87 65,733,051.42 (11) TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT SCHEDULE OF OPERATING REVENUE BY TOWN 3/31/2015 TOTAL READING LYNNFIELD NO.READING WILMINGTON MONTH RESIDENTIAL 1,859,329.86 611,133.05 239,222.21 439,467.60 569,507.00 INDUS /MUNI BLDG 2,074,264.89 312,253.39 28,264.19 332,640.59 1,401,106.72 PUB.ST.LIGHTS (64,851.50) (21,631.70) (8,669.55) (11,595.43) (22,954.82) PRV.ST.LIGHTS 9,148.12 1,504.29 174.14 2,978.28 4,491.41 CO -OP RESALE 19,691.69 19,691.69 0.00 0.00 0.00 SCHOOL 92,481.18 31,463.70 17,073.02 18,936.20 25,008.26 TOTAL 3,990,064.24 954,414.42 276,064.01 782,427.24 1,977,158.57 THIS YEAR TO DATE RESIDENTIAL 18,896,674.52 5,935,691.05 2,672,364.35 4,314,726.50 5,973,892.62 INDUS /MUNI BLDG 22,378,120.09 3,195,418.54 318,364.04 31629,456.77 15,234,880.74 PUB.ST.LIGHTS 174,144.60 58,482.14 23,523.09 30,553.47 61,585.90 PRV.ST.LIGHTS 84,797.20 14,061.11 1,651.90 27,562.07 41,522.12 CO -OP RESALE 219,485.22 219,485.22 0.00 0.00 0.00 SCHOOL 875,404.64 298,077.28 178,992.72 151,533.35 246,801.29 TOTAL 42,628,626.27 9,721,215.34 3,194,896.08 8,153,832.17 30,515,245.08 21,558,682.68 LAST YEAR TO DATE RESIDENTIAL 25,311,684.49 8,051,844.14 3,529,042.12 5,874,286.60 7,856,511.63 INDUS /MUNI BLDG 32,409,895.15 4,515,300.10 442,633.04 5,252,830.41 22,199,131.60 PUB.ST.LIGHTS 247,385.70 80,418.06 31,758.49 43,976.63 91,232.52 PRV.ST.LIGHTS 51,714.40 8,934.69 950.56 16,203.51 25,625.64 CO -OP RESALE 300,347.00 300,347.00 0.00 0.00 0,00 )CHOOL 1,176,259.36 422,015.66 260,088.96 151,411.05 342,743.69 TOTAL 59,497,286.10 13,378,859.65 4,264,473.17 11,338,708.20 30,515,245.08 PERCENTAGE OF OPERATING INCOME TO TOTAL TOTAL READING LYNNFIELD NO.READING WILMINGTON MONTH RESIDENTIAL 46.60% 15.32% 6.00% 11.01% 14.27% INDUS /MUNI BLDG 51.99% 7.83% 0.71% 8.34% 35.11% PUB.ST.LIGHTS -1.63% -0.54% -0.22% -0.29% -0.58% PRV.ST.LIGHTS 0.23% 0.04% 0.00% 0.07% 0.12% CO -OP RESALE 0.49% 0.49% 0.00% 0.00% 0.00% SCHOOL 2.32% 0.79% 0.43% 0.47% 0.63% TOTAL 100.00% 23.93% 6.92% 19.60% 49.55% THIS YEAR TO DATE RESIDENTIAL 44.33% 13.92% 6.27% 10.12% 14.02% INDUS /MUNI BLDG 52.50% 7.50% 0.75% 8.51% 35.74% PUB.ST.LIGHTS 0.41% 0.14% 0.06% 0.07% 0.14% PRV.ST.LIGHTS 0.20% 0.03% 0.00% 0.06% 0.11% CO -OP RESALE 0.51% 0.51% 0.00% 0.00% 0.00% SCHOOL 2.05% 0.70% 0.42% 0.36% 0.57% TOTAL 100.00% 22.80% 7.50% 19.12% 50.58% LAST YEAR TO DATE RESIDENTIAL 42.54% 13.53% 5.93% 9.87% 13.21% INDUS /MUNI BLDG 54.47% 7.59% 0.74% 8.83% 37.31% UB.ST.LIGHTS 0.42% 0.14% 0.05% 0.07% 0.16% RV.ST.LIGHTS 0.09% 0.02% 0.00% 0.03% 0.04% CO -OP RESALE 0.50% 0.50% 0.00% 0.00% 0.00% SCHOOL 1.98% 0.71% 0.44% 0.25% 0.58% TOTAL 100.00% 22.49% 7.16% 19.05% 51.30% (11A) t! SALES OF ELECTRICITY: RESIDENTIAL COMM AND INDUSTRIAL SALES PRIVATE STREET LIGHTING MUNICIPAL BUILDINGS PUBLIC STREET LIGHTING SALES FOR RESALE SCHOOL TOTAL BASE SALES TOTAL FUEL SALES TOTAL OPERATING REVENUE FORFEITED DISCOUNTS PURCHASED POWER CAPACITY ENERGY CONSERVATION - RESIDENTIAL ENERGY CONSERVATION - COMMERCIAL NYPA CREDIT TOTAL OPERATING REVENUES * ( ) = ACTUAL UNDER BUDGET TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT BUDGETED REVENUE VARIANCE REPORT 3/31/2015 SCHEDULE F ACTUAL BUDGET % YEAR TO DATE YEAR TO DATE VARIANCE * CHANGE 8,942,410.17 8,832,203.00 110,207.17 1.25% 7,052,351.70 7,328,438.00 (276,086.30) -3.77% 66,907.17 264,106.00 (197,198.83) - 74.67% 90,013.54 103,602.00 (13,588.46) - 13.12% 305,028.94 295,861.00 9,167.94 3.10% 16,456,711.52 16,824,210.00 (367,498.48) -2.18% 26,171,814.75 28,237,970.00 (2,066,155.25) -7.32% 42,628,526.27 45,062,180.00 (2,433,653.73) -5.4096 646,656.96 850,927.00 (204,270.04) - 24.01% 22,667,928.12 22,297,499.00 370,429.12 100.00% 199,629.26 200,744.00 (1,114.74) -0.56% 317,968.57 328,950.00 (10,981.43) -3.34% (727,657.76) (524,997.00) (202,660.76) 38.60% -3.64% (2,482,251.58) 65,733,051.42 68,215,303.00 (11 B) TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT SCHEDULE OF OPERATING EXPENSES 3/31/2015 SCHEDULE E OPERATION SUP AND ENGINEERING EXP STATION SUP LABOR AND MISC LINE MISC LABOR AND EXPENSE STATION LABOR AND EXPENSE STREET LIGHTING EXPENSE METER EXPENSE MISC DISTRIBUTION EXPENSE METER READING LABOR 6 EXPENSE ACCT 4 COLL LABOR 6 EXPENSE UNCOLLECTIBLE ACCOUNTS ENERGY AUDIT EXPENSE ADMIN 6 GEN SALARIES OFFICE SUPPLIES 6 EXPENSE OUTSIDE SERVICES PROPERTY INSURANCE INJURIES AND DAMAGES EMPLOYEES PENSIONS 6 BENEFITS MISC GENERAL EXPENSE RENT EXPENSE ENERGY CONSERVATION ILTAL OPERATION EXPENSES MAINTENANCE EXPENSES: 38,661.63 MONTH MONTH LAST YEAR CURRENT YEAR YTD % OPERATION EXPENSES: LAST YEAR CURRENT YEAR TO DATE TO DATE CHANGE PURCHASED POWER CAPACITY 1,426,843.70 1,463,262.28 13,136,735.11 12,825,378.23 -2.37% PURCHASED POWER TRANSMISSION 897,755.34 951,509.01 8,700,383.05 9,161,648.07 5.30% TOTAL PURCHASED POWER 2,324,599.04 2,414,771.29 21,837,118.16 21,987,026.30 0.69% OPERATION SUP AND ENGINEERING EXP STATION SUP LABOR AND MISC LINE MISC LABOR AND EXPENSE STATION LABOR AND EXPENSE STREET LIGHTING EXPENSE METER EXPENSE MISC DISTRIBUTION EXPENSE METER READING LABOR 6 EXPENSE ACCT 4 COLL LABOR 6 EXPENSE UNCOLLECTIBLE ACCOUNTS ENERGY AUDIT EXPENSE ADMIN 6 GEN SALARIES OFFICE SUPPLIES 6 EXPENSE OUTSIDE SERVICES PROPERTY INSURANCE INJURIES AND DAMAGES EMPLOYEES PENSIONS 6 BENEFITS MISC GENERAL EXPENSE RENT EXPENSE ENERGY CONSERVATION ILTAL OPERATION EXPENSES MAINTENANCE EXPENSES: 38,661.63 47,212.01 382,927.55 397,020.38 3.68% 9,668.87 13,542.19 87,038.79 120,176.99 38.07% 46,730.27 57,100.53 594,599.52 631,164.63 6.15% 33,834.44 45,733.74 365,713.98 388,748.01 6.30% 6,420.58 9,015.47 57,585.48 69,008.86 19.84% 16,931.59 16,850.22 162,546.89 149,393.14 -8.09% 33,911.39 34,555.39 278,301.52 338,479.57 21.62% 310.37 474.28 17,521.50 12,544.01 - 28.41% 138,704.45 156,442.59 1,145,146.28 1,337,448.81 16.79% 10,500.00 10,000.00 94,500.00 90,000.00 -4.76% 26,733.31 31,758.41 280,146.84 304,910.18 8.84% 83,389.67 52,682.28 662,654.63 599,227.56 -9.57% 27,853.77 29,214.26 212,238.70 231,992.91 9.31% 18,462.14 29,435.30 304,504.17 297,977.62 -2.14% 28,463.75 31,242.39 259,441.76 272,737.70 5.12% 3,389.53 4,472.39 31,336.26 33,566.42 7.12% 236,418.17 225,136.83 1,701,007.77 2,233,137.41 31.28% 15,308.53 6,800.84 132,025.62 111,828.46 - 15.30% 17,853.12 16,485.41 153,427.26 128,515.22 - 16.24% 26,933.32 33,501.11 391,556.22 390,066.58 -0.38% 820,478.90 851,655.64 7,314,220.74 8,137 944.46 11.26%_ MAINT OF TRANSMISSION PLANT 227.08 227.08 2,043.74 2,043.74 0.00% MAINT OF STRUCT AND EQUIPMT 11,974.30 35,932.35 131,345.76 400,337.11 204.80% MAINT OF LINES - OH 151,586.98 157,594.53 1,223,040.55 1,312,532.65 7.32% MAINT OF LINES - UG 16,287.00 16,192.11 152,114.83 129,667.45 - 14.76% MAINT OF LINE TRANSFORMERS 0.00 0.00 87,218.31 61,321.32 0.00% MAINT OF ST LT S SIG SYSTEM (52.84) (42.87) (457.28) (149.25) - 67.36% MAINT OF GARAGE AND STOCKROOM 50,975.23 62,985.67 428,743.44 460,960.03 7.51% MAINT OF METERS 206.71 0.00 11,495.05 0.00 - 100.00% MAINT OF GEN PLANT 12,923.91 15,823.22 109,098.69 163,677.19 50.03% TOTAL MAINTENANCE EXPENSES 244,128.37 288,712.09 2,144,643.09 2,530,390.24 17.99% DEPRECIATION EXPENSE 314,969.55 321,788.79 2,834,725.95 2,896,099.11 2.17% PURCHASED POWER FUEL EXPENSE 3,420,919.01 3,101,903.54 25,763,796.92 25,972,228.26 0.81% VOLUNTARY PAYMENTS TO TOWNS 116,666.67 118,000.00 1,048,517.01 1,052,754.00 0.40% TOTAL OPERATING EXPENSES 7,241,761.54 7,096,831.35 60,943,021.87 62,576,442.37 (12) 2.68% TOTAL OPERATION EXPENSES 8,137,944.46 8,196,522.00 (58,577.54) -0.71% MAINTENANCE EXPENSES: MAINT OF TRANSMISSION PLANT TOWN OF READING, MASSACHUSETTS 2,250.00 (206.26) -9.17% MUNICIPAL LIGHT DEPARTMENT 400,337.11 362,822.00 37,515.11 10.34% BUDGETED OPERATING EXPENSE VARIANCE REPORT 1,256,412.00 56,120.65 4.47% 3/31/2015 129,667.45 98,093.00 31,574.45 32.19% MAINT OF LINE TRANSFORMERS 61,321.32 SCHEDULE G (55,678.68) - 47.59% ACTUAL BUDGET 7,341.00 (7,490.25) OPERATION EXPENSES: YEAR TO DATE YEAR TO DATE VARIANCE * CHANGE PURCHASED POWER CAPACITY 12,825,378.23 12,255,551.00 569,827.23 4.65% PURCHASED POWER TRANSMISSION 9,161,648.07 9,225,465.00 (63,816.93) -0.69% TOTAL PURCHASED POWER 21,987,026.30 21,481,016.00 506,010.30 2.36% OPERATION SUP AND ENGINEERING EXP 397,020.38 437,631.00 (40,610.62) -9.28% STATION SUP LABOR AND MISC 120,176.99 81,259.00 38,917.99 47.89% LINE MISC LABOR AND EXPENSE 631,164.63 509,336.00 121,828.63 23.92% STATION LABOR AND EXPENSE 388,748.01 299,653.00 89,095.01 29.73% STREET LIGHTING EXPENSE 69,008.86 62,447.00 6,561.86 10.51% METER EXPENSE 149,393.14 181,806.00 (32,412.86) - 17.83% MISC DISTRIBUTION EXPENSE 338,479.57 303,164.00 35,315.57 11.65% METER READING LABOR & EXPENSE 12,544.01 23,167.00 (10,622.99) - 45.85% ACCT & COLL LABOR & EXPENSE 1,337,448.81 1,288,127.00 49,321.81 3.83% UNCOLLECTIBLE ACCOUNTS 90,000.00 90,000.00 0.00 0.00% ENERGY AUDIT EXPENSE 304,910.18 366,195.00 (61,284.82) - 16.74% ADMIN & GEN SALARIES 599,227.56 631,307.00 (32,079.44) -5.08% OFFICE SUPPLIES & EXPENSE 231,992.91 225,900.00 6,092.91 2.70% OUTSIDE SERVICES 297,977.62 272,465.00 25,512.62 9.36% PROPERTY INSURANCE 272,737.70 340,056.00 (67,318.30) - 19.80% INJURIES AND DAMAGES 33,566.42 36,942.00 (3,375.58) -9.14% EMPLOYEES PENSIONS & BENEFITS 2,233,137.41 2,099,122.00 134,015.41 6.38% MISC GENERAL EXPENSE 111,828.46 205,372.00 (93,543.54) - 45.55% RENT EXPENSE 128,515.22 159,003.00 (30,487.78) - 19.17% ENERGY CONSERVATION 390,066.58 583,570.00 (193,503.42) - 33.16% TOTAL OPERATION EXPENSES 8,137,944.46 8,196,522.00 (58,577.54) -0.71% MAINTENANCE EXPENSES: MAINT OF TRANSMISSION PLANT 2,043.74 2,250.00 (206.26) -9.17% MAINT OF STRUCT AND EQUIPMENT 400,337.11 362,822.00 37,515.11 10.34% MAINT OF LINES - OH 1,312,532.65 1,256,412.00 56,120.65 4.47% MAINT OF LINES - UG 129,667.45 98,093.00 31,574.45 32.19% MAINT OF LINE TRANSFORMERS 61,321.32 117,000.00 (55,678.68) - 47.59% MAINT OF ST LT & SIG SYSTEM (149.25) 7,341.00 (7,490.25) - 102.03% MAINT OF GARAGE AND STOCKROOM 460,960.03 434,894.00 26,066.03 5.99% MAINT OF METERS 0.00 37,205.00 (37,205.00) - 100.00% MAINT OF GEN PLANT 163,677.19 127,521.00 36,156.19 28.35% TOTAL MAINTENANCE EXPENSES 2,530,390.24 2,443,538.00 86,852.24 3.55% DEPRECIATION EXPENSE 2,896,099.11 2,918,997.00 (22,897.89) -0.78% PURCHASED POWER FUEL EXPENSE 25,972,228.26 29,197,957.00 (3,225,728.74) - 11.05% VOLUNTARY PAYMENTS TO TOWNS 1,052,754.00 1,062,000.00 (9,246.00) -0.87% TOTAL OPERATING EXPENSES 62,576,442.37 65,300,030.00 (2,723,587.63) * ( ) = ACTUAL UNDER BUDGET (12A) -4.17% MAINTENANCE EXPENSES: MAINT OF TRANSMISSION PLANT TOWN OF READING, MASSACHUSETTS 3,000.00 2,043.74 956.26 MUNICIPAL LIGHT DEPARTMENT MAINT OF STRUCT AND EQUIPMT HJ 484,026.00 BUDGETED OPERATING EXPENSE VARIANCE REPORT 17.29% MAINT OF LINES - OH HJ 1,675,794.00 3/31/2015 363,261.35 21.68% MAINT OF LINES - UG HJ RESPONSIBLE 129,667.45 1,026.55 REMAINING MAINT OF LINE TRANSFORMERS HJ SENIOR 2015 ACTUAL BUDGET REMAINING OPERATION EXPENSES: MANAGER ANNUAL, BUDGET YEAR TO DATE BALANCE BUDGET % PURCHASED POWER CAPACITY JP 16,332,282.00 12,825,378.23 3,506,903.77 21.47% PURCHASED POWER TRANSMISSION JP 12,556,732.00 9,161,648.07 3,395,083.93 27.04% TOTAL PURCHASED POWER 170,180.00 28,889,014.00 21,987,026.30 6,901,987.70 23.89% 3,240,260.00 OPERATION SUP AND ENGINEERING EXP HJ 583,668.00 397,020.38 166,647.62 31.98% STATION SUP LABOR AND MISC HJ 108,848.00 120,176.99 (11,328.99) - 10.41% LINE MISC LABOR AND EXPENSE HJ 657,259.00 631,164.63 26,094.37 3.97% STATION LABOR AND EXPENSE HJ 398,849.00 388,748.01 10,100.99 2.53% STREET LIGHTING EXPENSE HJ 82,907.00 69,008.86 13,898.14 16.76% METER EXPENSE HJ 247,938.00 149,393.14 98,544.86 39.75% MISC DISTRIBUTION EXPENSE HJ 402,885.00 338,479.57 64,405.43 15.99% METER READING LABOR & EXPENSE HJ 30,922.00 12,544.01 18,377.99 59.43% ACCT & COLL LABOR & EXPENSE RF 1,705,333.00 1,337,448.81 367,884.19 21.57% UNCOLLECTIBLE ACCOUNTS RF 120,000.00 90,000.00 30,000.00 25.00% ENERGY AUDIT EXPENSE JP 488,284.00 304,910.18 183,373.82 37.55% ADMIN & GEN SALARIES CO 842,170.00 599,227.56 242,942.44 28.85% OFFICE SUPPLIES & EXPENSE CO 301,000.00 231,992.91 69,007.09 22.93% OUTSIDE SERVICES CO 351,650.00 297,977.62 53,672.38 15.26% PROPERTY INSURANCE HJ 453,200.00 272,737.70 180,462.30 39.82% INJURIES AND DAMAGES HJ 49,059.00 33,566.42 15,492.58 31.58% EMPLOYEES PENSIONS & BENEFITS HJ 2,746,619.00 2,233,137.41 513,481.59 18.70% MISC GENERAL EXPENSE CO 240,727.00 111,828.46 128,898.54 53.55% RENT EXPENSE HJ 212,000.00 128,515.22 83,484.78 39.38% -RGY CONSERVATION JP 778,812.00 390,066.58 388,745.42 49.92% JTAL OPERATION EXPENSES 10,802,130.00 8,137,944.46 2,664,185.54 24.66% MAINTENANCE EXPENSES: MAINT OF TRANSMISSION PLANT HJ 3,000.00 2,043.74 956.26 31.88% MAINT OF STRUCT AND EQUIPMT HJ 484,026.00 400,337.11 83,688.69 17.29% MAINT OF LINES - OH HJ 1,675,794.00 1,312,532.65 363,261.35 21.68% MAINT OF LINES - UG HJ 130,694.00 129,667.45 1,026.55 0.79% MAINT OF LINE TRANSFORMERS HJ 156,000.00 61,321.32 94,678.68 60.69% MAINT OF ST LT & SIG SYSTEM HJ 9,745.00 (149.25) 9,894.25 101.53% MAINT OF GARAGE AND STOCKROOM HJ 567,531.00 460,960.03 106,570.97 18.78% MAINT OF METERS HJ 43,290.00 0.00 43,290.00 100.00% MAINT OF GEN PLANT RF 170,180.00 163,677.19 6,502.81 3.82% TOTAL MAINTENANCE EXPENSES 3,240,260.00 2,530,390.24 709,869.76 21.91% DEPRECIATION EXPENSE RF 3,892,000.00 2,896,099.11 995,900.89 25.59% PURCHASED POWER FUEL EXPENSE JP 36,249,653.00 25,972,228.26 10,277,424.74 28.35% VOLUNTARY PAYMENTS TO TOWNS RF 1,416,000.00 1,052,754.00 363,246.00 25.65% TOTAL OPERATING EXPENSES 84,489,057.00 62 ,5 76 , 442.37 21,912,614.63 25.94% (12B) TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT PROFESSIONAL SERVICES 03/31/2015 PROFESSIONAL SERVICES BY PROJECT ITEM 1 RMLD AND PENSION TRUST AUDIT FEES 2 LEGAL -FERC /ISO /POWER /OTHER 3 NERC COMPLIANCE AND AUDIT 4 LEGAL 5 LEGAL - GENERAL 6 LEGAL SERVICES 7 SURVEY RIGHT OF WAY/ ENVIRONMENTAL 8 INSURANCE CONSULTANT /OTHER TOTAL PROFESSIONAL SERVICES BY VENDOR MELANSON HEATH 6 COMPANY PLM ELECTRIC POWER COMPANY RUBIN AND RUDMAN UTILTIY SERVICES INC. CHOATE HALL 6 STEWART WILLIAM F. CROWLEY- ATTORNEY HUDSON RIVER ENERGY GROUP STONE CONSULTING TRI COUNTY APPRAISAL OF SOUTH FLORIDA DUNCAN 6 ALLEN TOTAL DEPARTMENT ACTUAL BUDGET VARIANCE ACCOUNTING 35,297.34 35,000.00 297.34 INTEGRATED RESOURCES 116,438.60 103,725.00 12,713.60 E S 0 12,490.00 7,875.00 4,615.00 ENGINEERING 6,844.50 10,125.00 (3,280.50) GM 109,231.35 39,753.00 69,478.35 HR 17,675.83 47,997.00 (30,321.17) BLDG. MAINT. 0.00 7,740.00 (7,740.00) GEN. BENEFIT 0.00 20,250.00 (20,250.00) 297,977.62 272,465.00 25,512.62 (13) ACTUAL 29,920.00 14,526.50 197,401.33 12,490.00 9,184.08 2,477.24 2,925.62 1,000.00 525.00 27,527.85 297,977.62 RMLD DEFERRED FUEL CASH RESERVE ANALYSIS 03/31/15 (14) GROSS MONTHLY TOTAL DATE CHARGES REVENUES NYPA CREDIT DEFERRED DEFERRED Jun -14 4,132,694.96 Jul -14 3,287,589.94 3,782,699.41 (35,898.34) 459,211.13 4,591,906.09 Aug -14 2,768,364.01 3,844,854.74 (47,884.92) 1,028,605.81 5,620,511.90 Sep -14 2,358,565.60 2,758,999.30 (73,836.15) 326,597.55 5,947,109.45 Oct -14 2,290,434.18 2,425,374.16 (74,545.03) 60,394.95 6,007,504.40 Nov -14 2,374,999.11 2,418,013.33 (68,098.89) (25,084.67) 5,982,419.73 Dec -14 2,754,212.60 2,662,761.53 (81,999.49) (173,450.56) 5,808,969.17 Jan -15 3,456,178.99 2,845,745.09 (100,190.60) (710,624.50) 5,098,344.67 Feb -15 3,579,980.29 3,061,242.48 (114,961.73) (633,699.54) 4,464,645.13 Mar -15 3,101,903.54 2,372,124.71 (130,242.61) (860,021.44) 3,604,623.69 (14) 7 DIVISION BUSINESS DIVISION INTEGRATED RESOURCES AND PLANNING ENGINEERING AND OPERATIONS FACILITY GENERAL MANAGER SUB -TOTAL RMLD BUDGET VARIANCE REPORT FOR PERIOD ENDING MARCH 31, 2015 ACTUAL BUDGET VARIANCE 7,580,458 7,513,096 67,362 811,415 1,053,491 (242,076) 3,853,908 3,665,438 188,470 3,544,561 3,522,689 21,872 580,035 618,238 (38,203) (2,722,294) -4.06% 16,370,378 16,372,953 (2,575) CHANGE 0.90% - 22.98% 5.14% 0.62% -6.18% -0.02% PURCHASED POWER CAPACITY 12,825,378 12,255,551 569,827 4.65% PURCHASED POWER TRANSMISSION 9,161,648 9,225,465 (63,817) -0.69% PURCHASED POWER FUEL 25,972,228 29,197,957 (3,225,729) - 11.05% TOTAL 64,329,632 67,051,926 (2,722,294) -4.06% (15) Dt: May 27, 2015 To: RMLB, Coleen O'Brien, Jeanne Foti Fr: Bob Fournier Sj: April 30, 2015 Report The results for the first ten months ending April 30, 2015, for the fiscal year 2015 will be summarized in the following paragraphs. 1) Change in Net Assets: (Page 3A) *For the month of April, the net profit or the positive change in net assets was $666,126.10 thereby increasing the year to date net income to $2,623,513. The year to date budgeted net income was $2,476,840, resulting in net income being over budget by $146,673 or 5.92 %. Actual year to date fuel revenues exceeded fuel expenses by $427,651 and purchased power capacity and transmission (ppct) revenues exceed ppct expenses by $355,963. 2) Revenues: (Page 3A) *Year to date base revenues were under budget by $375,397 or 2.03 %. Actual base revenues were $18.1 million compared to the budgeted amount of $18.5 million. 1%W 3) Expenses: (Page 12A) *Year to date purchased power base expense was over budget by $771,109 or 3.2 %. Actual purchased power base costs were 24.3 million and budgeted power base costs were $23.6 million. *Year to date operating and maintenance (O &M) expenses combined were over budget by $59,023 or .50 %. Actual O &M expenses were $11.8 million while budgeted expenses were at $11.7 million. *Depreciation expense and voluntary payments to the Towns were on budget. 4) Cash: (Page 9) *Operating Fund was at $10,496,390. * Capital Fund balance was at $5,794,492. * Rate Stabilization Fund was at $6,760,552. * Deferred Fuel Fund was at $4,560,346. * Energy Conservation Fund was at $590,712. 5) General Information: *Year to date kwh sales (Page 5) were 580,620,524 which is 3,756,734 million kwh or .64 %, behind last year's actual figure. Budget Variance: *Cumulatively, the five divisions were over budget by $25,631 or .14% TOWN OF READING, MASSACHUSETTS MUNICIPAL, LIGHT DEPARTMENT BUSINESS -TYPE PROPRIETARY FUND STATEMENT OF NET ASSETS 4/30/2015 PREVIOUS YEAR CURRENT YEAR ASSETS CURRENT UNRESTRICTED CASH (SCH A P.9) 12,239,690.51 10,499,390.73 RESTRICTED CASH (SCH A P.9) 15,933,474.29 21,859,201.96 RESTRICTED INVESTMENTS (SCH A P.9) 1,250,000.00 1,292,906.26 RECEIVABLES, NET (SCH B P.10) 5,638,832.69 7,138,806.92 PREPAID EXPENSES (SCH B P.10) 2,224,005.68 2,322,747.87 INVENTORY 1,432,404.30 1,647,974.25 TOTAL CURRENT ASSETS 38,718,407.47 44,761,027.99 NONCURRENT INVESTMENT IN ASSOCIATED CO (SCH C P.2) 31,379.32 26,993.75 CAPITAL ASSETS, NET (SCH C P.2) 70,204,879.70 69,609,835.42 TOTAL NONCURRENT ASSETS 70,236,259.02 69,636,829.17 TOTAL ASSETS 108,954,666.49 114,397,857.16 LIABILITIES CURRENT ACCOUNTS PAYABLE 6,816,252.61 5,276,532.29 CUSTOMER DEPOSITS 740,232.83 833,687.02 CUSTOMER ADVANCES FOR CONSTRUCTION 393,303.98 585,072.48 ACCRUED LIABILITIES 174,873.02 286,847.01 TOTAL CURRENT LIABILITIES 8,124,662.44 6,982,138.80 NONCURRENT ACCRUED EMPLOYEE COMPENSATED ABSENCES 2,885,367.88 2,918,870.73 TOTAL NONCURRENT LIABILITIES 2,885,367.88 2,918,870.73 TOTAL LIABILITIES 11,010,030.32 9,901,009.53 NET ASSETS INVESTED IN CAPITAL ASSETS, NET OF RELATED DEBT 70,204,879.70 69,609,835.42 RESTRICTED FOR DEPRECIATION FUND (P.9) 3,916,364.20 5,794,492.97 UNRESTRICTED 23,823,392.27 29,092,519.24 TOTAL NET ASSETS (P.3) 97,944,636.17 104,496,847.63 TOTAL LIABILITIES AND NET ASSETS 108,954,666.49 114,397,857.16 a TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT NONCURRENT ASSET SCHEDULE 4/30/2015 PREVIOUS YEAR SCHEDULE OF INVESTMENTS IN ASSOCIATED COMPANIES NEW ENGLAND HYDRO ELECTRIC 3,261.87 NEW ENGLAND HYDRO TRANSMISSION 28,117.45 TOTAL INVESTMENTS IN ASSOCIATED COMPANIES 31,379.32 SCHEDULE OF CAPITAL ASSETS LAND 1,265,842.23 STRUCTURES AND IMPROVEMENTS 6,430,639.92 EQUIPMENT AND FURNISHINGS 12,998,342.79 INFRASTRUCTURE 49,510,054.76 TOTAL CAPITAL ASSETS, NET 70,204,879.70 TOTAL NONCURRENT ASSETS 70,236,259.02 (2) SCHEDULE C CURRENT YEAR 2,975.74 24,018.01 26,993.75 1,265,842.23 6,312,398.38 12,590,216.90 49,441,377.91 69,609,835.42 69,636,829.17 TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT BUSINESS -TYPE PROPRIETARY FUND STATEMENT OF REVENUES, EXPENSES AND CHANGES IN FUND NET ASSETS 4/30/2015 OPERATING REVENUES: (SCH D P.11) BASE REVENUE FUEL REVENUE PURCHASED POWER CAPACITY FORFEITED DISCOUNTS ENERGY CONSERVATION REVENUE GAW REVENUE NYPA CREDIT TOTAL OPERATING REVENUES OPERATING EXPENSES: (SCH E P.12) PURCHASED POWER CAPACITY PURCHASED POWER TRANSMISSION PURCHASED POWER FUEL OPERATING MAINTENANCE DEPRECIATION VOLUNTARY PAYMENTS TO TOWNS TOTAL OPERATING EXPENSES OPERATING INCOME N( ;,-JPERATING REVENUES (EXPENSES) CONTRIBUTIONS IN AID OF CONST RETURN ON INVESTMENT TO READING INTEREST INCOME INTEREST EXPENSE OTHER (MDSE AND AMORT) TOTAL NONOPERATING REV (EXP) CHANGE IN NET ASSETS NET ASSETS AT BEGINNING OF YEAR NET ASSETS AT END OF APRIL MONTH MONTH LAST YEAR CURRENT YEAR YTD % LAST YEAR CURRENT YEAR TO DATE TO DATE CHANGE 3,731,060.01 1,679,823.07 38,973,268.29 18,136,534.59 3,208,299.37 2,560,445.08 27,463,377.19 28,732,259.83 206,440.65 2,048,101.57 715,874.71 24,716,029.69 97,369.46 64,035.97 806,418.17 710,692.93 52,653.58 50,581.08 575,193.61 568,178.91 0.00 0.00 489,669.08 0.00 (96,472.23) (100,873.74) (955,399.34) (828,531.50) 7,199,350.84 6,302,113.03 68,068,401.71 72,035,164.45 1,324,167.77 1,447,201.16 14,477,479.60 14,272,579.39 886,131.98 925,838.93 9,569,938.31 10,087,487.00 2,460,081.44 1,503,848.55 28,223,878.36 27,476,076.81 769,156.96 975,728.44 8,083,377.70 9,113,672.90 178,980.27 201,021.16 2,323,623.36 2,731,411.40 314,969.55 321,788.79 3,149,695.50 3,217,887.90 116,666.67 118,000.00 1,165,183.68 1,170,754.00 6,050,154.64 5,493,427.03 66,993,176.51 68,069,869.40 - 53.46% 4.62% 3352.56% - 11.87% -1.228 - 100.00% - 13.28% 5.83% -1.426 5.41% -2.65% 12.75% 17.558 2.17% 0.488 1.614 1,149,196.20 808,686.00 1,075,225.20 3,965,295.05 268.799 16,880.17 35,610.25 49,982.90 125,102.00 150.294 (191,768.42) (194,405.26) (1,917,684.18) (1,944,052.54) 1.38% 11,139.69 5,075.75 57,393.23 103,347.44 80.079 (251.84) (251.64) (3,692.73) (3,796.50) 2.814 1,905.63 11,411.00 366,232.96 377,618.02 3.11% (162,094.77) (142,559.90) (1,447,767.82) (1,341,781.58) -7.32% 987,101.43 666,126.10 (372,542.62) 2,623,513.47 - 804.229 (3) 98,317,178.79 101,873,334.16 3.629 97,944,636.17 104,496,847.63 6.696 TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT BUSINESS -TYPE PROPRIETARY FUND STATEMENT OF REVENUES, EXPENSES AND CHANGES IN FUND NET ASSETS 4/30/2015 OPERATING REVENUES: (SCH F P.11B) BASE REVENUE FUEL REVENUE PURCHASED POWER CAPACITY FORFEITED DISCOUNTS ENERGY CONSERVATION REVENUE NYPA CREDIT TOTAL OPERATING REVENUES OPERATING EXPENSES: (SCH G P.12A) PURCHASED POWER CAPACITY PURCHASED POWER TRANSMISSION PURCHASED POWER FUEL OPERATING MAINTENANCE DEPRECIATION VOLUNTARY PAYMENTS TO TOWNS TOTAL OPERATING EXPENSES OPERATING INCOME NONOPERATING REVENUES (EXPENSES) CONTRIBUTIONS IN AID OF CONST RETURN ON INVESTMENT TO READING INTEREST INCOME INTEREST EXPENSE OTHER (MDSE AND AMORT) TOTAL NONOPERATING REV (EXP) CHANGE IN NET ASSETS NET ASSETS AT BEGINNING OF YEAR NET ASSETS AT END OF APRIL * ( ) = ACTUAL UNDER BUDGET ACTUAL BUDGET % YEAR TO DATE YEAR TO DATE VARIANCE* CHANGE 18,136,534.59 18,511,932.00 13,606,374.00 (375,397.41) 666,205.39 -2.03% 28,732,259.83 31,122,133.00 10,087,487.00 (2,389,873.17) 9,982,583.00 -7.68% 104,904.00 24,716,029.69 24,543,846.00 83,330.00 172,183.69 20,017.44 0.70% 24.02% 710,692.93 937,101.00 - 12.52% (226,408.07) 9,113,672.90 - 24.16% 9,054,816.00 568,178.91 583,705.00 230,000.00 (15,526.09) 147,618.02 -2.66% 64.18% (828,531.50) (583,330.00) 166.40 (245,201.50) 0.01% 42.03% 3,217,887.90 72,035,164.45 75,115,387.00 (3,080,222.55) -4.10% 14,272,579.39 200,000.00 13,606,374.00 (74,898.00) 666,205.39 - 37.45% 4.90% (1,944,052.54) 10,087,487.00 9,982,583.00 104,904.00 1.05% 83,330.00 27,476,076.81 20,017.44 31,406,979.00 24.02% (3,930,902.19) (3,796.50) - 12.52% 9,113,672.90 9,054,816.00 58,856.90 230,000.00 0.65% 147,618.02 2,731,411.40 64.18% 2,731,245.00 (1,341,781.58) 166.40 0.01% 3,217,887.90 3,243,330.00 (25,442.10) -0.78% 1.170.754.00 1.180.000.00 (9,246.00) -0.78% 68,069,869.40 71,205,327.00 (3,135,457.60) -4.40% 3,965,295.05 3,910,060.00 55,235.05 1.41% 125,102.00 200,000.00 (74,898.00) - 37.45% (1,944,052.54) (1,944,050.00) (2.54) 0.00% 103,347.44 83,330.00 20,017.44 24.02% (3,796.50) (2,500.00) (1,296.50) 51.86% 377,618.02 230,000.00 147,618.02 64.18% (1,341,781.58) (1,433,220.00) 91,438.42 -6.38% 2,623,513.47 2,476,840.00 146,673.47 101,873,334.16 101,873,334.16 0.00 104,496,847.63 104,350,174.16 146,673.47 (3A) 5.92% 0.00% 0.14% (a.- (I,., TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT RECONCILIATION OF CAPITAL FUNDS 4/30/2015 SOURCE OF CAPITAL FUNDS: DEPRECIATION FUND BALANCE 7/1/14 CONSTRUCTION FUND BALANCE 7/1/14 INTEREST ON DEPRECIATION FUND FY 15 DEPRECIATION TRANSFER FY 15 OTHER - LED GRANT TOTAL SOURCE OF CAPITAL FUNDS USE OF CAPITAL FUNDS: LESS PAID ADDITIONS TO PLANT THRU APRIL GENERAL LEDGER CAPITAL FUNDS BALANCE 4/30/15 (4) 4,130,584.59 1,000,000.00 17,139.00 3,217,887.90 62,500.00 8,428,111.49 2,633,618.52 5,794,492.97 SALES OF ELECTRICITY: RESIDENTIAL SALES COMM. AND INDUSTRIAL SALES PRIVATE STREET LIGHTING TOTAL PRIVATE CONSUMERS MUNICIPAL SALES: STREET LIGHTING MUNICIPAL BUILDINGS TOTAL MUNICIPAL CONSUMERS SALES FOR RESALE SCHOOL TOTAL KILOWATT HOURS SOLD TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT SALES OF KILOWATT HOURS 4/30/2015 MONTH MONTH LAST YEAR CURRENT YEAR YTD % LAST YEAR CURRENT YEAR TO DATE TO DATE CHANGE 18,735,974 18,513,082 221,099,470 218,005,216 -1.40% 31,992,137 30,462,959 336,889,312 335,374,247 -0.45% 76,175 79,466 752,102 792,011 5.31% 50,804,286 49,055,507 558,740,884 554,171,474 -0.82% 240,064 236,614 2,398,542 2,416,288 828,207 794,339 8,179,174 8,226,783 1,068,271 1,030,953 10,577,716 10,643,071 238,124 237,244 2,829,669 2,821,413 1,373,766 1,375,007 12,228,989 12,984,566 53,484,447 51,698,711 584,377,258 580,620,524 (5) 0.74% 0.58% 0.62% -0.29% 6.18% -0.64% TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT KILOWATT HOURS SOLD BY TOWN 4/30/2015 TOTAL READING LYNNFIELD NO.READING WILMINGTON MONTH RESIDENTIAL 18,513,082 5,884,464 2,352,934 4,407,897 5,867,787 COMM 6 IND 30,462,959 3,868,664 252,528 4,561,567 21,780,200 PVT ST LIGHTS 79,466 13,418 1,490 24,791 39,767 PUB ST LIGHTS 236,614 79,475 32,150 41,184 83,805 MUNI BLDGS 794,339 233,890 167,490 128,664 264,295 SALES /RESALE 237,244 237,244 0 0 0 SCHOOL 1,375,007 463,680 306,182 278,580 326,565 TOTAL 51,698,711 10,780,835 3,112,774 9,442,683 28,362,419 YEAR TO DATE RESIDENTIAL 218,005,216 68,265,591 30,732,777 50,050,139 68,956,709 COMM 6 IND 335,374,247 42,114,597 2,648,567 51,573,813 239,037,270 PVT ST LIGHTS 792,011 133,864 15,139 248,130 394,878 PUB ST LIGHTS 2,416,288 811,885 326,745 423,825 853,833 MUNI BLDGS 8,226,783 2,265,886 1,678,611 1,410,064 2,872,222 SALES /RESALE 2,821,413 2,821,413 0 0 0 SCHOOL 12,984,566 4,373,793 2,706,939 2,258,620 3,645,214 TOTAL 580,620,524 120,787,029 38,108,778 105,964,591 315,760,126 LAST YEAR TO DATE RESIDENTIAL 221,099,470 69,978,860 30,736,765 51,271,777 69,112,068 COMM & IND 336,889,312 42,572,072 2,736,104 52,652,613 238,928,523 PVT ST LIGHTS 752,102 130,986 14,150 228,474 378,492 PUB ST LIGHTS 2,398,542 806,840 325,000 419,932 846,770 MUNI BLDGS 8,179,174 2,312,245 1,613,748 1,413,334 2,839,847 SALES /RESALE 2,829,669 2,829,669 0 0 0 SCHOOL 12,228,989 4,340,545 2,752,088 1,533,360 3,602,996 TOTAL 584,377,258 122,971,217 38,177,855 107,519,490 315,708,696 KILOWATT HOURS SOLD TO TOTAL TOTAL READING LYNNFIELD NO.READING WILMINGTON MONTH RESIDENTIAL 35.81% 11.38% 4.55% 8.53% 11.35% COMM 6 IND 58.92% 7.48% 0.49% 8.82% 42.13% PVT ST LIGHTS 0.15% 0.03% 0.00% 0.05% 0.07% PUB ST LIGHTS 0.46% 0.15% 0.06% 0.08% 0.17% MUNI BLDGS 1.54% 0.45% 0.32% 0.25% 0.52% SALES /RESALE 0.46% 0.46% 0.00% 0.00% 0.00% SCHOOL 2.66% 0.90% 0.59% 0.54% 0.63% TOTAL 100.00% 20.85% 6.01% 18.27% 54.87% YEAR TO DATE RESIDENTIAL 37.55% 11.76% 5.29% 8.62% 11.88% COMM & IND 57.76% 7.25% 0.46% 8.88% 41.17% PVT ST LIGHTS 0.13% 0.02% 0.00% 0.04% 0.07% PUB ST LIGHTS 0.42% 0.14% 0.06% 0.07% 0.15% MUNI BLDGS 1.41% 0.39% 0.29% 0.24% 0.49% SALES /RESALE 0.49% 0.49% 0.00% 0.00% 0.00% SCHOOL 2.24% 0.75% 0.47% 0.39% 0.63% TOTAL 100.00% 20.80% 6.57% 18.24% 54.39% LAST YEAR TO DATE RESIDENTIAL 37.84% 11.97% 5.26% 8.77% 11.84% COMM 6 IND 57.65% 7.29% 0.47% 9.01% 40.88% PVT ST LIGHTS 0.13% 0.02% 0.00% 0.04% 0.07% PUB ST LIGHTS MUNI BLDGS 0.41% 1.40% 0.14% 0.40% 0.06% 0.28% 0.07% 0.24% 0.14% 0.48% SALES /RESALE 0.48% 0.48% 0.00% 0.00% 0.00% SCHOOL 2.09% 0.74% 0.47% 0.26% 0.62% TOTAL 100.00% 21.04% 6.54% 18.39% 54.03% (6) ;7 r TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT FORMULA INCOME 4/30/2015 TOTAL, OPERATING REVENUES (P.3) ADD: LESS: POLE RENTAL INTEREST INCOME ON CUSTOMER DEPOSITS OPERATING EXPENSES (P.3) CUSTOMER DEPOSIT INTEREST EXPENSE FORMULA INCOME (LOSS) (7) 72,035,164.45 0.00 4,566.17 (68,069,869.40) (3,796.50) 3,966,064.72 SALE OF KWH (P.5) KWH PURCHASED AVE BASE COST PER KWH AVE BASE SALE PER KWH AVE COST PER KWH AVE SALE PER KWH FUEL CHARGE REVENUE (P.3) LOAD FACTOR PLOAD TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT GENERAL STATISTICS 4/30/2015 MONTH OF APR 2014 53,484,447 52,441,173 0.042148 0.069760 0.089059 0.129745 3,111,827.14 80.63% 89,095 MONTH OF % CHANGE YEAR THRU APR 2015 2014. 2015 APR 2014 APR 2015 51,698,711 -1.41% -0.64% 584,377,258 580,620,524 52,225,977 -0.52% -2.81% 604,402,825 587,427,044 0.027710 2.92 % - 38.93% 0.039787 0.024297 0.032493 2.95 % - 53.16% 0.066692 0.031236 0.056505 0.97 % - 17.82% 0.086484 0.071070 0.082019 - 1.18 % - 29.00% 0.113688 0.080722 2,459,571.34 -8.97% 5.27% 26,507,977.85 27,903,728.33 77.00% 92,907 (e) U TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT SCHEDULE OF CASH AND INVESTMENTS 4/30/2015 UNRESTRICTED CASH CASH - OPERATING FUND CASH - PETTY CASH TOTAL UNRESTRICTED CASH RESTRICTED CASH CASH - DEPRECIATION FUND CASH - TOWN PAYMENT CASH - DEFERRED FUEL RESERVE CASH - RATE STABILIZATION FUND CASH - UNCOLLECTIBLE ACCTS RESERVE CASH - SICK LEAVE BENEFITS CASH - HAZARD WASTE RESERVE CASH - CUSTOMER DEPOSITS CASH - ENERGY CONSERVATION TOTAL RESTRICTED CASH INVESTMENTS SICK LEAVE BUYBACK TOTAL CASH BALANCE P) PREVIOUS YEAR 12,236,690.51 3,000.00 12,239,690.51 3,916,364.20 1,233,740.36 893,586.87 6,716,036.42 200,000.00 1,647,654.67 150,000.00 740,378.28 435,713.49 15,933,474.29 SCHEDULE A CURRENT YEAR 10,496,390.73 3,000.00 10,499,390.73 5,794,492.97 1,249,621.00 4,560,346.48 6,760,552.68 200,000.00 1,718,789.36 150,000.00 834,687.02 590,712.45 21,859,201.96 1,250,000.00 1,292,906.26 29,423,164.80 33,651,498.95 TOWN OF READING, MASSACHUSETTS MUNICIPAL, LIGHT DEPARTMENT SCHEDULE OF ACCOUNTS RECEIVABLE 4/30/2015 PREVIOUS YEAR SCHEDULE OF ACCOUNTS RECEIVABLE RESIDENTIAL AND COMMERCIAL 1,824,428.27 ACCOUNTS RECEIVABLE - OTHER 10,993.38 ACCOUNTS RECEIVABLE - LIENS 37,169.47 ACCOUNTS RECEIVABLE - EMPLOYEE ADVANCES 892.14 SALES DISCOUNT LIABILITY (169,686.99) RESERVE FOR UNCOLLECTIBLE ACCOUNTS (222,986.08) TOTAL ACCOUNTS RECEIVABLE BILLED 1,480,810.19 UNBILLED ACCOUNTS RECEIVABLE 4,158,022.50 TOTAL ACCOUNTS RECEIVABLE, NET 5,638,832.69 SCHEDULE OF PREPAYMENTS PREPAID INSURANCE 766,338.54 PREPAYMENT PURCHASED POWER 902,854.27 PREPAYMENT PASNY 242,260.90 PREPAYMENT WATSON 298,028.27 PURCHASED POWER WORKING CAPITAL 14,523.70 TOTAL PREPAYMENT 2,224,005.68 ACCOUNTS RECEIVABLE AGING APRIL 2015: RESIDENTIAL AND COMMERCIAL 1,889,779.38 LESS: SALES DISCOUNT LIABILITY (183,221.21) GENERAL LEDGER BALANCE 1,706,558.17 CURRENT 1,283,866.29 75.23% 30 DAYS 252,697.24 14.81% 60 DAYS 89,067.41 5.22% 90 DAYS 23,251.26 1.36% OVER 90 DAYS 57,675.97 3.38% TOTAL 1,706,558.17 100.00% (10) SCHEDULE B CURRENT YEAR 1,889,779.38 75,982.57 32,634.64 892.14 (183,221.21) (299,529.88) 1,516,537.64 5,622,269.28 7,138,806.92 767,804.20 956,689.10 259,957.39 325,597.07 12,700.11 2,322,747.87 HE TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT SCHEDULE OF OPERATING REVENUE 4/30/2015 SCHEDULE D MONTH MONTH LAST YEAR CURRENT YEAR YTD % SALES OF ELECTRICITY: LAST YEAR CURRENT YEAR TO DATE TO DATE CHANGE RESIDENTIAL SALES 2,701,064.47 1,766,945.50 28,012,748.96 20,663,620.02 - 26.23% COMM AND INDUSTRIAL SALES 3,888,938.86 2,247,485.22 35,466,807.60 24,043,418.92 - 32.21% PRIVATE STREET LIGHTING 7,010.34 9,511.88 58,724.74 94,309.08 60.60% TOTAL PRIVATE CONSUMERS 6,597,013.67 4,023,942.60 63,538,281.30 44,801,348.02 - 29.49% MUNICIPAL SALES: STREET LIGHTING 31,864.38 29,116.94 279,250.08 203,161.54 - 27.25% MUNICIPAL BUILDINGS 108,554.11 63,853.66 940,580.52 646,040.05 - 31.31% TOTAL MUNICIPAL CONSUMERS 140,418.49 92,970.60 1,219,830.60 849,201.59 - 30.38% SALES FOR RESALE 31,823.59 20,136.22 332,170.59 239,621.44 - 27.86% SCHOOL 170,103.63 103,218.73 1,346,362.99 978,623.37 - 27.31% SUB -TOTAL 6,939,359.38 4,240,268.15 66,436,645.48 46,868,794.42 - 29.45% FORFEITED DISCOUNTS 97,369.46 64,035.97 806,418.17 710,692.93 - 11.87% PURCHASED POWER CAPACITY 206,440.65 2,048,101.57 715,874.71 24,716,029.69 3352.56% ENERGY CONSERVATION - RESIDENTIAL 18,743.08 18,521.91 221,218.30 218,151.17 -1.39% ENERGY CONSERVATION - COMMERCIAL 33,910.50 32,059.17 353,975.31 350,027.74 -1.12% GAW REVENUE 0.00 0.00 489,669.08 0.00 - 100.00% NYPA CREDIT (96,472.23) (100,873.74) (955,399.34) (828,531.50) - 13.28% TOTAL REVENUE 7,199,350.84 68,068,401.71 5.83% 6,302,113.03 72,035,164.45 HE TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT SCHEDULE OF OPERATING REVENUE BY TOWN 4/30/2015 TOTAL READING LYNNFIELD NO.READING WILMINGTON MONTH RESIDENTIAL 1,766,945.50 565,630.34 223,552.28 419,291.32 558,471.56 INDUS /MUNI BLDG 2,311,338.88 333,340.06 34,145.73 364,622.69 1,579,230.40 PUB.ST.LIGHTS 29,116.94 9,759.54 3,947.97 5,087.73 10,321.70 PRV.ST.LIGHTS 9,511.88 1,571.38 181.59 3,067.88 4,691.03 CO -OP RESALE 20,136.22 20,136.22 0.00 0.00 0.00 SCHOOL 103,218.73 34,900.36 22,140.11 21,246.41 24,931.85 TOTAL 4,240,268.15 965,337.90 283,967.68 813,316.03 2,177,646.54 THIS YEAR TO DATE RESIDENTIAL 20,663,620.02 6,501,321.39 2,895,916.63 4,734,017.82 6,532,364.18 INDUS /MUNI BLDG 24,689,458.97 3,528,758.60 352,509.77 3,994,079.46 16,814,111.14 PUB.ST.LIGHTS 203,161.54 68,241.68 27,471.06 35,641.20 71,807.60 PRV.ST.LIGHTS 94,309.08 15,632.49 1,833.49 30,629.95 46,213.15 CO -OP RESALE 239,621.44 239,621.44 0.00 0.00 0.00 SCHOOL 978,623.37 332,977.64 201,132.83 172,779.76 271,733.14 TOTAL 46,868,794.42 10,686,553.24 3,478,863.76 8,967,148.20 23,736,229.22 LAST YEAR TO DATE RESIDENTIAL 28,012,748.96 8,904,864.16 3,867,386.62 6,493,586.38 8,746,911.80 INDUS /MUNI BLDG 36,407,388.12 5,065,561.42 497,092.44 5,878,808.54 24,965,925.72 PUB.ST.LIGHTS 279,250.08 90,799.25 35,866.73 49,649.79 102,934.31 PRV.ST.LIGHTS 58,724.74 10,120.70 1,083.11 18,453.29 29,067.64 CO -OP RESALE 332,170.59 332,170.59 0.00 0.00 0.00 SCHOOL 1,346,362.99 480,364.69 297,291.36 174,634.78 394,072.16 TOTAL 66,436,645.48 14,883,880.81 4,698,720.26 12,615,132.78 34,238,911.63 PERCENTAGE OF OPERATING INCOME TO TOTAL TOTAL READING LYNNFIELD NO.READING WILMINGTON MONTH RESIDENTIAL 41.67% 13.34% 5.27% 9.89% 13.17% INDUS /MUNI BLDG 54.52% 7.86% 0.81% 8.60% 37.25% PUB.ST.LIGHTS 0.69% 0.23% 0.09% 0.12% 0.25% PRV.ST.LIGHTS 0.22% 0.04% 0.00% 0.07% 0.11% CO -OP RESALE 0.47% 0.47% 0.00% 0.00% 0.00% SCHOOL 2.43% 0.82% 0.52% 0.50% 0.59% TOTAL 100.00% 22.76% 6.69% 19.18% 51.37% THIS YEAR TO DATE RESIDENTIAL 44.09% 13.87% 6.18% 10.10% 13.94% INDUS /MUNI BLDG 52.68% 7.53% 0.75% 8.52% 35.88% PUB.ST.LIGHTS 0.43% 0.15% 0.06% 0.08% 0.14% PRV.ST.LIGHTS 0.20% 0.03% 0.00% 0.07% 0.10% CO -OP RESALE 0.51% 0.51% 0.00% 0.00% 0.00% SCHOOL 2.09% 0.71% 0.43% 0.37% 0.58% TOTAL 100.00% 22.80% 7.42% 19.14% 50.64% LAST YEAR TO DATE RESIDENTIAL 42.16% 13.40% 5.82% 9.77% 13.17% INDUS /MUNI BLDG 54.80% 7.62% 0.75% 8.85% 37.58% PUB.ST.LIGHTS 0.42% 0.14% 0.05% 0.07% 0.16% ?RV.ST.LIGHTS 0.09% 0.02% 0.00% 0.03% 0.04% CO -OP RESALE 0.50% 0.50% 0.00% 0.00% 0.00% SCHOOL 2.03% 0.72% 0.45% 0.26% 0.60% TOTAL 100.00% 22.40% 7.07% 18.98% 51.55% (11A) C SALES OF ELECTRICITY: RESIDENTIAL COMM AND INDUSTRIAL SALES PRIVATE STREET LIGHTING MUNICIPAL BUILDINGS PUBLIC STREET LIGHTING SALES FOR RESALE SCHOOL TOTAL BASE SALES TOTAL FUEL SALES TOTAL OPERATING REVENUE FORFEITED DISCOUNTS PURCHASED POWER CAPACITY ENERGY CONSERVATION - RESIDENTIAL ENERGY CONSERVATION - COMMERCIAL NYPA CREDIT TOTAL OPERATING REVENUES ( ) = ACTUAL UNDER BUDGET c. TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT BUDGETED REVENUE VARIANCE REPORT 4/30/2015 SCHEDULE F ACTUAL BUDGET % YEAR TO DATE YEAR TO DATE VARIANCE • CHANGE 9,784,715.84 9,670,193.00 114,522.84 1.18% 7,818,510.18 8,104,718.00 (286,207.82) -3.53% 95,415.33 293,394.00 (197,978.67) - 67.48% 98,287.56 113,270.00 (14,982.44) - 13.23% 339,605.68 330,357.00 9,248.68 2.80% 18,136,534.59 18,511,932.00 (375,397.41) -2.03% 28,732,259.83 31,122,133.00 (2,389,873.17) -7.68% 46,868,794.42 49,634,065.00 (2,765,270.58) -5.57% 710,692.93 937,101.00 (226,408.07) - 24.16% 24,716,029.69 24,543,846.00 172,183.69 0.70% 218,151.17 220,038.00 (1,886.83) -0.86% 350,027.74 363,667.00 (13,639.26) -3.75% (828,531.50) (583,330.00) (245,201.50) 42.03% -4.10% (3,080,222.55) 75,115,387.00 72,035,164.45 (11B) TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT SCHEDULE OF OPERATING EXPENSES 4/30/2015 SCHEDULE E OPERATION SUP AND ENGINEERING EXP STATION SUP LABOR AND MISC LINE MISC LABOR AND EXPENSE STATION LABOR AND EXPENSE STREET LIGHTING EXPENSE METER EXPENSE MISC DISTRIBUTION EXPENSE METER READING LABOR 6 EXPENSE ACCT 6 COLL LABOR & EXPENSE UNCOLLECTIBLE ACCOUNTS ENERGY AUDIT EXPENSE ADMIN S GEN SALARIES OFFICE SUPPLIES & EXPENSE OUTSIDE SERVICES PROPERTY INSURANCE INJURIES AND DAMAGES EMPLOYEES PENSIONS 6 BENEFITS MISC GENERAL EXPENSE RENT EXPENSE ENERGY CONSERVATION TOTAL OPERATION EXPENSES MANTENANCE EXPENSES MAINT OF TRANSMISSION PLANT MAINT OF STRUCT AND EQUIPMT MAINT OF LINES - OH MAINT OF LINES - UG MAINT OF LINE TRANSFORMERS MAINT OF ST LT & SIG SYSTEM MAINT OF GARAGE AND STOCKROOM MAINT OF METERS MAINT OF GEN PLANT TOTAL MAINTENANCE EXPENSES DEPRECIATION EXPENSE PURCHASED POWER FUEL EXPENSE VOLUNTARY PAYMENTS TO TOWNS TOTAL OPERATING EXPENSES 37,350.96 MONTH MONTH 420,278.51 LAST YEAR CURRENT YEAR YTD % OPERATION EXPENSES: LAST YEAR CURRENT YEAR TO DATE TO DATE CHANGE PURCHASED POWER CAPACITY 1,324,167.77 1,447,201.16 14,477,479.60 14,272,579.39 -1.42% PURCHASED POWER TRANSMISSION 886,131.98 925,838.93 1,436,539.47 9,569,938.31 10,087,487.00 5.41% TOTAL PURCHASED POWER 2,210,299.75 2,373,040.09 163,039.72 24,047,417.91 24,360,066.39 1.30% OPERATION SUP AND ENGINEERING EXP STATION SUP LABOR AND MISC LINE MISC LABOR AND EXPENSE STATION LABOR AND EXPENSE STREET LIGHTING EXPENSE METER EXPENSE MISC DISTRIBUTION EXPENSE METER READING LABOR 6 EXPENSE ACCT 6 COLL LABOR & EXPENSE UNCOLLECTIBLE ACCOUNTS ENERGY AUDIT EXPENSE ADMIN S GEN SALARIES OFFICE SUPPLIES & EXPENSE OUTSIDE SERVICES PROPERTY INSURANCE INJURIES AND DAMAGES EMPLOYEES PENSIONS 6 BENEFITS MISC GENERAL EXPENSE RENT EXPENSE ENERGY CONSERVATION TOTAL OPERATION EXPENSES MANTENANCE EXPENSES MAINT OF TRANSMISSION PLANT MAINT OF STRUCT AND EQUIPMT MAINT OF LINES - OH MAINT OF LINES - UG MAINT OF LINE TRANSFORMERS MAINT OF ST LT & SIG SYSTEM MAINT OF GARAGE AND STOCKROOM MAINT OF METERS MAINT OF GEN PLANT TOTAL MAINTENANCE EXPENSES DEPRECIATION EXPENSE PURCHASED POWER FUEL EXPENSE VOLUNTARY PAYMENTS TO TOWNS TOTAL OPERATING EXPENSES 37,350.96 47,519.21 420,278.51 444,539.59 2,270.82 5.77% 9,683.26 16,961.11 25,674.59 96,722.05 144,277.92 137,138.10 426,011.70 41.79% 66,392.13 47,085.20 124,006.82 660,991.65 1,331,677.01 678,249.83 1,436,539.47 2.61% 36,530.64 47,659.30 5,001.94 402,244.62 163,039.72 436,407.31 134,669.39 8.49% 2,593.08 7,946.02 1,301.38 60,178.56 87,218.31 76,954.88 62,622.70 27.88% 17,937.78 18,488.45 (44.63) 180,484.67 (447.66) 167,881.59 (193.88) -6.98% 27,111.55 38,474.32 32,727.86 305,413.07 461,156.29 376,953.89 493,687.89 23.42% 681.63 495.38 0.00 18,203.13 11,645.67 13,039.39 0.00 - 28.37% 110,435.35 147,784.86 12,126.12 1,255,581.63 122,785.28 1,485,233.67 175,803.31 18.29% 10,500.00 10,000.00 201,021.16 105,000.00 2,323,623.36 100,000.00 2,731,411.40 -4.76% 24,915.39 38,296.05 305,062.23 314,969.55 343,206.23 321,788.79 12.50% 3,149,695.50 64,407.71 77,420.59 2.17% 727,062.34 2,460,081.44 676,648.15 1,503,848.55 -6.93% 28,223,878.36 25,221.90 35,491.73 -2.65% 237,460.60 116,666.67 267,484.64 118,000.00 12.64% 1,165,183.68 43,170.52 118,487.41 0.48% 347,674.69 416,465.03 19.79% 29,863.75 31,242.39 289,305.51 303,980.09 5.07% 4,147.03 3,717.42 35,483.29 37,283.84 5.07% 165,313.80 219,201.50 1,866,321.57 2,452,338.91 31.40% 8,020.94 7,690.10 140,046.56 119,518.56 - 14.66% 17,933.98 17,106.52 171,361.24 145,621.74 - 15.02% 66,945.56 44,660.88 458,501.78 434,727.46 -5.19% 769,156.96 975,728.44 8,083,377.70 9,113,672.90 12.75% 227.08 227.08 2,270.82 2,270.82 0.00% 12,932.16 25,674.59 144,277.92 426,011.70 195.27% 108,636.46 124,006.82 1,331,677.01 1,436,539.47 7.87% 10,924.89 5,001.94 163,039.72 134,669.39 - 17.40% 0.00 1,301.38 87,218.31 62,622.70 0.00% 9.62 (44.63) (447.66) (193.88) - 56.69% 32,412.85 32,727.86 461,156.29 493,687.89 7.05% 150.62 0.00 11,645.67 0.00 - 100.00% 13,686.59 12,126.12 122,785.28 175,803.31 43.18% 178,980.27 201,021.16 2,323,623.36 2,731,411.40 17.55% 314,969.55 321,788.79 3,149,695.50 3,217,887.90 2.17% 2,460,081.44 1,503,848.55 28,223,878.36 27,476,076.81 -2.65% 116,666.67 118,000.00 1,165,183.68 1,170,754.00 0.48% 6,050,154.64 5,493,427.03 66,993,176.51 68,069,869.40 (1Z) 1.61% TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT BUDGETED OPERATING EXPENSE VARIANCE REPORT 4/30/2015 OPERATION EXPENSES: PURCHASED POWER CAPACITY PURCHASED POWER TRANSMISSION TOTAL PURCHASED POWER OPERATION SUP AND ENGINEERING EXP STATION SUP LABOR AND MISC LINE MISC LABOR AND EXPENSE STATION LABOR AND EXPENSE STREET LIGHTING EXPENSE METER EXPENSE MISC DISTRIBUTION EXPENSE METER READING LABOR & EXPENSE ACCT & COLL LABOR & EXPENSE UNCOLLECTIBLE ACCOUNTS ENERGY AUDIT EXPENSE ADMIN & GEN SALARIES OFFICE SUPPLIES & EXPENSE OUTSIDE SERVICES PROPERTY INSURANCE INJURIES AND DAMAGES EMPLOYEES PENSIONS & BENEFITS MISC GENERAL EXPENSE RENT EXPENSE ENERGY CONSERVATION ACTUAL 2,270.82 BUDGET (229.18) YEAR TO DATE YEAR TO DATE 14,272,579.39 426,011.70 13,606,374.00 23,477.70 10,087,487.00 5.83% 9,982,583.00 1,436,539.47 24,360,066.39 45,786.47 23,588,957.00 3.29% 444,539.59 134,669.39 486,412.00 25,804.39 137,138.10 23.70% 89,668.00 62,622.70 678,249.83 (93,377.30) 558,505.00 - 59.86% 436,407.31 (193.88) 332,020.00 (8,293.88) 76,954.88 - 102.39% 68,937.00 493,687.89 167,881.59 12,145.89 203,186.00 2.52% 376,953.89 0.00 335,003.00 (39,211.00) 13,039.39 - 100.00% 25,767.00 175,803.31 1,485,233.67 34,063.31 1,421,372.00 24.03% 100,000.00 2,731,411.40 100,000.00 166.40 343,206.23 0.01% 406,779.00 676,648.15 DEPRECIATION EXPENSE 696,456.00 3,243,330.00 267,484.64 251,000.00 PURCHASED POWER FUEL EXPENSE 416,465.03 31,406,979.00 298,850.00 303,980.09 VOLUNTARY PAYMENTS TO TOWNS 377,840.00 1,180,000.00 37,283.84 40,980.00 TOTAL OPERATING EXPENSES 2,452,338.91 2,315,080.00 119,518.56 68,069,869.40 222,426.00 (3,135,457.60) 145,621.74 176,670.00 434,727.46 647,865.00 SCHEDULE G VARIANCE 666,205.39 104,904.00 771,109.39 (41,872.41) 47,470.10 119,744.83 104,387.31 8,017.68 (35,304.41) 41,950.89 (12,727.61) 63,861.67 0.00 (63,572.77) (19,807.85) 16,484.64 117,615.03 (73,859.91) (3,696.16) 137,258.91 (102,907.44) (31,048.26) (213,137.54) TOTAL OPERATION EXPENSES 9,113,672.90 9,054,816.00 58,856.90 MAINTENANCE EXPENSES CHANGE 4.90% 1.05% 3.27% -8.61% 52.94% 21.44% 31.44% 11.63% - 17.38% 12.52% - 49.40% 4.49% 0.00% - 15.63% -2.84% 6.57% 39.36% - 19.55% -9.02% 5.93% - 46.27% - 17.57% - 32.90% 0.65% MAINT OF TRANSMISSION PLANT 2,270.82 2,500.00 (229.18) -9.17% MAINT OF STRUCT AND EQUIPMENT 426,011.70 402,534.00 23,477.70 5.83% MAINT OF LINES - OH 1,436,539.47 1,390,753.00 45,786.47 3.29% MAINT OF LINES - UG 134,669.39 108,865.00 25,804.39 23.70% MAINT OF LINE TRANSFORMERS 62,622.70 156,000.00 (93,377.30) - 59.86% MAINT OF ST LT & SIG SYSTEM (193.88) 8,100.00 (8,293.88) - 102.39% MAINT OF GARAGE AND STOCKROOM 493,687.89 481,542.00 12,145.89 2.52% MAINT OF METERS 0.00 39,211.00 (39,211.00) - 100.00% MAINT OF GEN PLANT 175,803.31 141,740.00 34,063.31 24.03% TOTAL MAINTENANCE EXPENSES 2,731,411.40 2,731,245.00 166.40 0.01% DEPRECIATION EXPENSE 3,217,887.90 3,243,330.00 (25,442.10) -0.78% PURCHASED POWER FUEL EXPENSE 27,476,076.81 31,406,979.00 (3,930,902.19) - 12.52% VOLUNTARY PAYMENTS TO TOWNS 1,170,754.00 1,180,000.00 (9,246.00) -0.78% TOTAL OPERATING EXPENSES -4.40% 68,069,869.40 71,205,327.00 (3,135,457.60) * ( ) = ACTUAL UNDER BUDGET (12A) TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT BUDGETED OPERATING EXPENSE VARIANCE REPORT 4/30/2015 (128) RESPONSIBLE REMAINING SENIOR 2015 ACTUAL BUDGET REMAINING OPERATION EXPENSES: MANAGER ANNUAL, BUDGET YEAR TO DATE BALANCE BUDGET % PURCHASED POWER CAPACITY JP 16,332,282.00 14,272,579.39 2,059,702.61 12.61% PURCHASED POWER TRANSMISSION JP 12,556,732.00 10,087,487.00 2,469,245.00 19.66% TOTAL PURCHASED POWER 28,889,014.00 24,360,066.39 4,528,947.61 15.68% OPERATION SUP AND ENGINEERING EXP HJ 583,668.00 444,539.59 139,128.41 23.84% STATION SUP LABOR AND MISC HJ 108,848.00 137,138.10 (28,290.10) - 25.99% LINE MISC LABOR AND EXPENSE HJ 657,259.00 678,249.83 (20,990.83) -3.19% STATION LABOR AND EXPENSE HJ 398,849.00 436,407.31 (37,558.31) -9.42% STREET LIGHTING EXPENSE HJ 82,907.00 76,954.88 5,952.12 7.18% METER EXPENSE HJ 247,938.00 167,881.59 80,056.41 32.29% MISC DISTRIBUTION EXPENSE HJ 402,885.00 376,953.89 25,931.11 6.44% METER READING LABOR & EXPENSE HJ 30,922.00 13,039.39 17,882.61 57.83% ACCT & COLL LABOR & EXPENSE RF 1,705,333.00 1,485,233.67 220,099.33 12.91% UNCOLLECTIBLE ACCOUNTS RF 120,000.00 100,000.00 20,000.00 16.67% ENERGY AUDIT EXPENSE JP 488,284.00 343,206.23 145,077.77 29.71% ADMIN & GEN SALARIES CO 842,170.00 676,648.15 165,521.85 19.65% OFFICE SUPPLIES & EXPENSE CO 301,000.00 267,484.64 33,515.36 11.13% OUTSIDE SERVICES CO 351,650.00 416,465.03 (64,815.03) - 18.43% PROPERTY INSURANCE HJ 453,200.00 303,980.09 149,219.91 32.93% INJURIES AND DAMAGES HJ 49,059.00 37,283.84 11,775.16 24.00% EMPLOYEES PENSIONS & BENEFITS HJ 2,746,619.00 2,452,338.91 294,280.09 10.71% MISC GENERAL EXPENSE CO 240,727.00 119,518.56 121,208.44 50.35% RENT EXPENSE HJ 212,000.00 145,621.74 66,378.26 31.31% ENERGY CONSERVATION JP 778,812.00 434,727.46 344,084.54 44.18% PAL OPERATION EXPENSES 15.63% 10,802,130.00 9,113,672.90 1,688,457.10 MAINTENANCE EXPENSES: MAINT OF TRANSMISSION PLANT HJ 3,000.00 2,270.82 729.18 24.31% MAINT OF STRUCT AND EQUIPMT HJ 484,026.00 426,011.70 58,014.30 11.99% MAINT OF LINES - OH HJ 1,675,794.00 1,436,539.47 239,254.53 14.28% MAINT OF LINES - UG HJ 130,694.00 134,669.39 (3,975.39) -3.04% MAINT OF LINE TRANSFORMERS HJ 156,000.00 62,622.70 93,377.30 59.86% MAINT OF ST LT & SIG SYSTEM HJ 9,745.00 (193.88) 9,938.88 101.99% MAINT OF GARAGE AND STOCKROOM HJ 567,531.00 493,687.89 73,843.11 13.01% MAINT OF METERS HJ 43,290.00 0.00 43,290.00 100.00% MAINT OF GEN PLANT RF 170,180.00 175,803.31 (5,623.31) -3.30% TOTAL MAINTENANCE EXPENSES 3,240,260.00 2,731,411.40 508,848.60 15.70% DEPRECIATION EXPENSE RF 3,892,000.00 3,217,887.90 674,112.10 17.32% PURCHASED POWER FUEL EXPENSE JP 36,249,653.00 27,476,076.81 8,773,576.19 24.20% VOLUNTARY PAYMENTS TO TOWNS RF 1,416,000.00 1,170,754.00 245,246.00 17.32% TOTAL OPERATING EXPENSES 19.43% 68,069,869.40 16,419,187.60 84,489,057.00 (128) 0 PROFESSIONAL SERVICES BY PROJECT ITEM 1 RMLD AND PENSION TRUST AUDIT FEES 2 LEGAL -FERC /ISO /POWER /OTHER 3 NERC COMPLIANCE AND AUDIT 4 LEGAL 5 LEGAL - GENERAL 6 LEGAL SERVICES 7 SURVEY RIGHT OF WAY/ ENVIRONMENTAL 8 INSURANCE CONSULTANT /OTHER TOTAL PROFESSIONAL SERVICES BY VENDOR TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT PROFESSIONAL SERVICES 04/30/2015 MELANSON HEATH & COMPANY PLM ELECTRIC POWER COMPANY RUBIN AND RUDMAN UTILTIY SERVICES INC. CHOATE HALL & STEWART WILLIAM F. CROWLEY- ATTORNEY HUDSON RIVER ENERGY GROUP STONE CONSULTING TRI COUNTY APPRAISAL OF SOUTH FLORIDA DUNCAN & ALLEN LEIDOS TOTAL DEPARTMENT ACTUAL BUDGET VARIANCE ACCOUNTING 40,070.09 35,000.00 5,070.09 INTEGRATED RESOURCES 130,197.41 115,250.00 14,947.41 E 6 O 12,490.00 8,750.00 3,740.00 ENGINEERING 6,844.50 11,250.00 (4,405.50) GM 209,187.20 44,170.00 165,017.20 HR 17,675.83 53,330.00 (35,654.17) BLDG. MAINT. 0.00 8,600.00 (8,600.00) GEN. BENEFIT 0.00 22,500.00 (22,500.00) 416,465.03 298,850.00 117,615.03 (13) ACTUAL 29,920.00 21,898.53 220,109.53 12,490.00 9,184.08 2,477.24 2,925.62 1,000.00 525.00 30,935.03 85,000.00 g1b,4b.D.V.3 RMLD DEFERRED FUEL CASH RESERVE ANALYSIS 04/30/15 GROSS DATE CHARGES REVENUES NYPA CREDIT Jun -14 4,132,694.96 459,211.13 Jul -14 3,287,589.94 1,028,605.81 3,782,699.41 (35,898.34) Aug -14 2,768,364.01 5,947,109.45 3,844,854.74 (47,884.92) Sep -14 2,358,565.60 (25,084.67) 2,758,999.30 (73,836.15) Oct -14 2,290,434.18 5,808,969.17 2,425,374.16 (74,545.03) Nov -14 2,374,999.11 (633,699.54) 2,418,013.33 (68,098.89) Dec -14 2,754,212.60 3,604,623.69 2,662,761.53 (81,999.49) Jan -15 3,456,178.99 2,845,745.09 (100,190.60) Feb -15 3,579,980.29 3,061,242.48 (114,961.73) Mar -15 3,101,903.54 2,372,124.71 (130,242.61) Apr -15 1,503,848.55 2,560,445.08 (100,873.74) (14) MONTHLY TOTAL DEFERRED DEFERRED 4,132,694.96 459,211.13 4,591,906.09 1,028,605.81 5,620,511.90 326,597.55 5,947,109.45 60,394.95 6,007,504.40 (25,084.67) 5,982,419.73 (173,450.56) 5,808,969.17 (710,624.50) 5,098,344.67 (633,699.54) 4,464,645.13 (860,021.44) 3,604,623.69 955,722.79 4,560,346.48 F7 DIVISION BUSINESS DIVISION INTEGRATED RESOURCES AND PLANNING ENGINEERING AND OPERATIONS FACILITY GENERAL MANAGER SUB -TOTAL RMLD BUDGET VARIANCE REPORT FOR PERIOD ENDING APRIL 30, 2015 ACTUAL BUDGET VARIANCE 8,427,514 8,333,829 93,685 908,131 1,169,895 (261,764) 4,218,284 4,082,992 135,292 3,893,673 3,890,268 3,405 733,971 678,958 55,014 TOTAL 70,017,717 73,151,880 18,181,574 18,155,942 25,631 CHANGE 1.12% - 22.38% 3.31% 0.09% 8.10% 0.14% PURCHASED POWER CAPACITY 14,272,579 13,606,375 666,204 4.90% PURCHASED POWER TRANSMISSION 10,087,487 9,982,584 104,903 1.05% PURCHASED POWER FUEL 27,476,077 31,406,979 (3,930,902) - 12.52% TOTAL 70,017,717 73,151,880 (3,134 163) -4.28% (15) RMLD i May 20, 2015 Reading Municipal Light Department RELIABLE POWER FOR GENERATIONS 230 Ash Street P.O. Box 150 Reading, MAO 1867-0250 Tel: (781) 944 -1340 Fax: (781) 942-2409 Web: www.rmid.com Town of Reading Municipal Light Board Attachment 5 Subject: Electrical Utility Excavation Including Emergency Excavation and Construction Services A bid invitation was placed as a legal notice in the Middlesex East section of the Daily Times Chronicle on April 15, 2015 and The Central Register on April 13, 2015, requesting proposals for the Electrical Utility Excavation Including Emergency Excavation and Construction Services for the Reading Municipal Light Department. An invitation to bid was emailed to the following: A. Vozzella & Sons, Inc. Caruso and McGovern Dowling Corporation Flevingston Joseph P. Cardillo KOBO Utility Construction Corp. Mattuchio Construction Mirra Construction NE Distinct PM Zilioli, Inc. R.S. Hurford Co., Inc. Systems Electrical Services Inc Tim Zanelli Excavating Vittiglio Construction Annese Electrical Services Inc CRL, Inc. E B Rotondi & Sons James T. Lynch Construction K & R Construction Co. LLC LaRovere Design /Build Corp. McLaughlin Bros. Contracting Corp. Murphy & Fahy Construction Co., Inc. Pecora Contracting Power Line Contractors, Inc. Rene C. Lamarre Co., Inc. T Ford Company Tro -Con Corporation W.L. French Blue Diamond Dowling Corporation Fischbach & Moore Joseph Bottico, Inc. K B Aruda M. Keane Excavating Inc. Meninno Construction N. Granese & Sons Pine Ridge Technologies R.H White Strength in Concrete, LLC Target Construction Ventresca, Inc. Bids were received from Tim Zanelli Excavating LLC and James T. Lynch Construction. The bids were publicly opened and read aloud at 11:00 a.m. May 13, 2015 in the Town of Reading Municipal Light Department's Board Room, 230 Ash Street, Reading, Massachusetts. File: Bid/ FY15 / Excavation/ 201 -23 144, RT �(T jl Reading Municipal Light Department jgLD - j RELIABLE POWER FOR GENERATIONS 230 Ash Street, P.O. Box 150 Reading, MAO 1867-0250 The bids were reviewed, analyzed and evaluated by the General Manager and staff. Move that bid 2015 -23 for the Electrical Utility Excavation Including Emergency Excavation and Construction Services be awarded to: Tim Zanelli Excavation, LLC for $39,583.02 Item 1 Grand total for all three typical jobs for three years $39,583.02 as the lowest qualified bidder on the recommendation of the General Manager. Note: If Tim Zanelli Excavation LLC were unavailable, James T. Lynch construction will serve as a backup. The allocation for this work will be from the Operating Budget funds. Coleen O'Brien Hamid Jaff6ri Brian Smith File: Bid/ FY15 / Excavation/ 201 -23 V •N V 0 U 0 0 V w v W •N V 0 V W •N � N C � v � N U O W 0 k ° o W � 'N o cs 'c > � O � O N UUb > q � o c � � aqJ h � � U I v A 04 CC CS W a N E� O O N N O CR N O N CC `Ct M CG O r 00 r ti ti � N N mi uc� r r r' V% 6} Fr CV O O O y 0 0 0 .J.l 41. -C., 4-.+ 4 � i-+ G� N w 0 0 0 �° 4r 4 � +-+ 0 A A +-1 b U U U C7 E U) rrpl L 8 O O O O O O O O O O O O O CO m Cfl N CD f� C, C` ) rn a (0 C Q C 0 c� U X W M N LO 0 N cn t-+ CD ei O O O y CA c, 4-J 0 � c 0 0 0 U •� 4--J 4- 4- w - - 0 ILI b ,p E E E h U U U C7 rn a (0 C Q C 0 c� U X W M N LO 0 N RMLD ANA slftw May 19, 2015 Reading Municipal Light Department RELIABLE POWER FOR GENERATIONS 230 Ash Street P.O. Box 150 Reading, MA 01867 -0250 Tel: (781) 944 -1340 Fax: (781) 942-2409 Web: www.rmld.com Town of Reading Municipal Light Board Subject: Residential Energy Audits On April 15, 2015 a bid invitation was placed as a legal notice in the Middlesex East section of the Daily Times Chronicle and on April 13, 2015, in the Commonwealth of Massachusetts' Good and Services Bulletin requesting proposals for Residential Energy Audits for the Reading Municipal Light Department. Specifications were emailed to the following: HomeWorks Energy Total Green Energy Solutions Nexamps, Inc. The Energy Hound JSR Adaptive Energy Solutions Certified Energy Rating, Inc. Bone Builders Infrared Diagnostics LLC Eco Home Services NE Home Energy Audits Reclaimed Energy Inc. Adv Building Analysis LLC Energy Egghead LLC Atlas Glen -Mor Next Step Living, Inc. Boston Energy Retrofit Mallard Energy Systems The Green Bean CO -OP Power RBS Consulting Group Central Home Energy Experts Greentek Energy Inc. GDS Associates Steve Winter Associates, Inc. Healthy Homes Energy LLC Bids were received from Healthy Homes Energy LLC and Greentek Energy Inc. The bids were publicly opened and read aloud at 10:00 a.m. May 13, 2015 in the Town of Reading Municipal Light Department's General Manager's Conference Room, 230 Ash Street, Reading, Massachusetts. The bids were reviewed, analyzed and evaluated by RMLD staff. Move that bid 2015 -25 for Residential Energy Audits be awarded to: Healthy Homes Energy LLC as the lowest responsive and responsible bidder for a three year period at a total cost of $185,625.00 on the recommendation of the General Manager. The FY16 Operating Budget amount for this item is $60,000. Coleen O'Brien F: \Residential_Rebates & dits \2015 IFB - Residential Audits \Board Letter_052015.docx o Y o E m w C Q N C �y O y Z Z E w „ LL E —_ E r � < V o C O n f w Y d A O c c n a 8 ui E w w i f n v°i, ry 888 ° m o mu�iv m25m „u— N E o 0 0 R „ d !' ' O Ea' ° m m d W 0 E e 88 ° n � u a �8� g5g5��g ry o o n rtOi m 25 ao eu o p n 08 88 ' -o0 ado ng u m V CO N C p p 8 8 8 p pp 8 8 0 O i 9 d r F N O � T E � m i n n � ° a c E o v o ° < t < < G < C < C m < m < m < N o v s V m = C m O S 4 w c r RMLD ()RELIABLE Reading Municipal Light Department POWER FOR GENERATIONS 230 Ash Street P.O. Box 150 Reading, MA 01867 -0250 Tel: (781) 944 -1340 Fax: (781) 942-2409 Web: www.rmld.com May 20, 2015 Town of Reading Municipal Light Board Subject: IFB 2015 -27 HVAC Improvements to 230 Ash Street including supporting work of other trades A bid invitation was placed as a legal notice in the Middlesex East section of the Daily Times Chronicle on April 8, 2015 and The Central Register on April 8, 2015, requesting proposals for HVAC Improvements to 230 Ash Street including supporting work of other trades for the Reading Municipal Light Department. An invitation to bid was emailed to the following: E. Amanti & Sons Enoch C. Shaw Co., Inc. Lake Industries Ambient Temperature Corporation Enterprise Equipment Co., Inc. Limbach Company Avco Electric Inc. Falite Bros., Inc. Multitemp Mechanical Corp. Breen & Sullivan Mechanical Services, Inc. GafEny Corporation Contractors Project Do Burnell Controls, Inc. G.V.W. Inc. Soracco Plumbing and Heating Carriere HVAC Hall Sheet Metal Works, Inc. Stebbins Duffy Central Cooling and Heating, Inc. Honeywell Corp. Systems Contracting, Inc. Cooling Unlimited, Inc. Howse Co . Total Temperature Control, Inc. Cranney Co m anies Hub Electric, Inc. Trane Company DODGE Data & Analytics Huntington Controls Unlimited Removal and Demolition A Pre -Bid Meeting was held on Friday, April 24, 2015, at 9:00 a.m. at the RMLD. General Contractor bids were publicly opened and read aloud at 11:00 a.m. on May 12, 2015, at the Town of Reading Municipal Light Department, 230 Ash Street, Reading, Massachusetts. General Bids were received from: Ambient Temperature Corporation, Falite Bros., Inc., Gaffey Corporation Contractors, Hall Sheet Metal Works, Inc., and Multitemp Mechanical Corp. Systems Contracting, Inc. and Huntington Controls are the lowest responsible and eligible subbidders for Electrical and DDC Controls respectively. R�( Reading Municipal Light Department �� L ( RELIABLE POWER FOR GENERATIONS 230 Ash Street, P.O. Box 150 Reading, MAO 1867-0250 The bids were reviewed, analyzed and evaluated by the staff with a recommendation to the General Manager: Move that bid 2015 -27 for the HVAC Improvements be awarded to: Falite Bros., Inc. for $571,243 as the lowest responsible and efigible bidder on the recommendation of the General Manager. The FYI Capital Project Amount for this bid is $600,000. rAq FA �I _ 11 , CR _ /— Hamid Jaff Brian Hansen Attachments: Bid Tabulation Sheet R �. � G . ƒ ƒ ƒ / ƒ (k) [ G 0 z e \ § \ 2 e / c c ( ) « _ z ® 0 _ { r ) § \ ) \ \ - ` ` ` / 1 ) / / ƒ ƒ ƒ ƒ ƒ ƒ ƒ co } ) 2 4) / z £ .. y _ R _ } \ 0) 2 °mu 7 2E «§ /)§ u \ 7 ) ) 2 \ \ \ ƒ ƒƒ ƒ ƒ ƒ ƒ ƒƒ \ a ( k z \ - \ ) LL m \ § LL \ _ ) / § � ) 3 ) \ ( r E : ) 0 LL §3 2 \] z j § / 'f f 2 G§ D ) z e m o ; J! c 3§/ ( \j \ \§ ® ^722 — \r` - § - \\ _ - ) I . \ e CL -J # / 0 ) } { z > 3 Q e 2` q ;) 3= J .. .. .. u —� cr \ \ k :nm / ( k 7 8 2 ) § \ \ 1 ?) �) « { ! \ ) ) ) / /Efq C) 2 J tae /23302 /6 0 f( § § �<u Jeanne Foti )m: Jeanne Foti ent: Thursday, May 21, 2015 11:10 AM To: RMLD Board Members Group Subject: Account Payable Warrant and Payroll Good morning. In an effort to save paper, the following timeframes had no Account Payable and Payroll questions. Account Payable Warrant — No Questions May 8 and May 15. Payroll — No Questions May 18 This e -mail will be printed for the Board Packet for the RMLD Board meeting on May 28, 2015. 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