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Home My WebLink About2015-03-26 RMLD Board of Commissioners MinutesReading Municipal Light Board of Commissioners Regular Session 230 Ash Street R E U E I W E U Reading, MA 01867 TOWN C L E R K March 26, 2015 READING, MASS. Start Time of Regular Session: 7:32 p.m. End Time of Regular Session: 8:07 p.m. Commissioners: David Talbot, Chairman John Stempeck, Commissioner Dave Hennessy, Commissioner - Absent Staff: Jane Parenteau, Integrated Resources Director Robert Fournier, Accounting/Business Manager Citizens' Advisory Board (CAB): Dennis Kelley, Member NOV — U A 00 5 I 1 Philip B. Pacino, Vice Chair - Secretary Pro Tem Thomas O'Rourke, Commissioner Jeanne Foti, Executive Assistant William Seldon, Assist. Director of Integrated Resources Call Meeting to Order Chairman Talbot called the meeting to order and stated that the meeting was being videotaped; it is live in Reading only. Opening Remarks Chairman Talbot read the RMLD Board of Commissioners Code of Conduct. Introductions Chairman Talbot reported that Dave Hennessy is unable to attend the meeting due to a work commitment. Vice Chair Pacino will be the Secretary this evening. Chairman Talbot recognized CAB Member Dennis Kelley from Wilmington. Public Comment There was no public comment. Report of the Chairman April 1— Economic Development Meeting — Reading Senior Center — 6:30 pm Chairman Talbot reported that the Economic Development meeting with the Metropolitan Area Planning Council is scheduled to meet on April 1, 2015 at the Reading Senior Center, 6:30 p.m. Chairman Talbot plans to attend along with Mr. Stempeck, Ms. O'Brien and Ms. Parenteau. RMLD can be a key part of economic development with its low electric rates. Chairman Talbot stated that Ms. Parenteau is Acting General Manager during Ms. O'Brien's absence. There is some progress on the process to identify sites for community solar. Chairman Talbot asked Ms. Parenteau to provide an update. Ms. Parenteau stated that after the January Board meeting, in which members of the Reading Climate Advisory Committee attended, Mr. 011ila from the Integrated Resources Department met with the committee members as a whole. They agreed to form an Ad Hoc Committee for Community Shared Solar. The Ad Hoc Committee has met twice since, members of that committee include Ms. Gina Snyder, Ms. Joan Boller and Mr. Mike Scola. Their next meeting is scheduled for Monday, March 30, 2015 at the RMLD offices, 7:00 p.m. In addition, Mr. 011ila has met with Ms. Jessie Wilson from the Town of Reading Community and Planning Division. Ms. Wilson has agreed to be part of that committee and plans to solicit any other interest from the Town of Reading. In addition, RMLD is developing a press release indicating the progress with renewables being made with the hope of migrating from RMLD's Green Choice Program to include renewable projects into RMLD's portfolio, and the next step is to provide solar which is tangible within each of the four towns. The RMLD is working on the business model with Reading, however the intent is to eventually have community solar in all of the towns i that RMLD serves. Chairman Talbot asked if community solar is just for the municipal buildings or is RMLD looking for an industrial land site. Ms. Parenteau explained that RMLD's first goal is for the program to access municipal availability. If that is not feasible, then RMLD will look at other sites. Regular Session Meeting Minutes March 26, 2015 2 Report of the Chairman April 1— Economic Development Meeting — Reading Senior Center — 6:30 pm Ms. Parenteau stated that as the program expands, depending upon the demand if there are commercial customers that are • really interested, RMLD will look at those types of sites. Chaff� �lbpt stated that as he understands, there is a private company that would like to add to RMLD's fiber optic netwofk�in' the' district. RMLD would build it and they would use it. Chairman Talbot said that it is a good idea for the RMLD Board to discuss this at a Policy Committee meeting. The committee needs to look at when the Commissioners should be involved in making decisions and setting strategy on this part of RMLD's business. Over the past fifteen years, there have been fiber optic contracts that were signed however, were not brought to the RMLD Board's attention. Ms. Parenteau stated that there is a Policy Committee meeting already scheduled for April 23, 2015. Ms. Foti stated that she will include this as part of the agenda. Report of the Committee — Vice Chair Pacino Policy Committee Mr. Pacino stated that the Policy Committee met, reviewed the Surplus Property Policy which was referred for more scrubbing at this point. Chairman Talbot stated that he received an e -mail from Mr. Mark Dockser from FINCOM that indicated that the first phase of their project is completed and they liked the Policy changes RMLD made. He is still waiting for the final word from Mr. Dockser. More discussion can take place more formally at the next RMLD Board meeting. General Manager's Report — Ms. Parenteau for the General Manager Update on Organizational and Reliability Study Ms. Parenteau stated that on the Organizational and Reliability Studies she had conversations with both Ms. O'Brien and Mr. Jafffari. Ms. Parenteau reported that the Organizational and Reliability Studies will be completed within the next two to three weeks. This would be the end of March or beginning of April. Ms. Parenteau said that Ms. Foti is in the process of scheduling a meeting for the presentation directly from both, Leidos and Booth and Associates, for the RMLD Board of Commissioners in May. Ms. Parenteau explained the time frame of May is due to Town Meeting scheduled for the last week in April. is Chairman Talbot asked when their final reports are due to be complete. Ms. Parenteau stated that the last week in March or the first week in April. Chairman Talbot asked if the report submitted will be reviewed one more time by the Board of Commissioners before it is actually final or is this the last version. Ms. Parenteau stated that when Ms. O'Brien returns on Monday she will check on that and have an e -mail sent to the Board. Mr. O'Rourke stated that his guess is this is probably their first report and then Board will have an opportunity to review it before the final report. Power Supply Report — February 2015— Mr. Seldon (Attachment 1) Mr. Seldon reported on the Power Supply for February 2015, noting at the last Board meeting, Chairman Talbot requested information on kilowatt hour sales. Historically, over the past four or five years RMLD has been in a decline. As result of this request, Mr. Seldon has a report of documented kilowatt hour purchases as they were reported in DPU reports since the year 2000. He is working on updating the data in the Cogsdale system in order to provide the breakdown of sales by customer class which will provide more informative data further down the road, but has this report for the Board to review in the meantime. Mr. Seldon pointed out that RMLD had been on a steady growth pattern until year 2008. In 2009, decreased significantly which could be due to weather, these are not weather normalized kilowatt hours reported in the DPU report. Chairman Talbot asked if the numbers are for the year. Mr. Seldon responded they are annual numbers. Mr. Stempeck added that these are annual numbers, but it is an expanded scale. Mr. Seldon explained that the base actually starts around 685 and peaks around 765. That is why the chart shows such a dramatic dip, but it is not as dramatic as it looks although still significant, about a 6% drop in what came through RMLD's metering at the stations, but then it increased back up the following year. Since then it has been on the downward swing. What Mr. Seldon wants to key in on is the Cogsdale information which they can try to expand on where the reductions actually are happening Are the reductions in the commercial sector, is it all in residential or is it spread between both. Mr. Stempeck said that energy conservation efforts are probably embedded in there. Mr. Seldon said that is correct. Regular Session Meeting Minutes March 26, 2015 Power Supply Report — February 2015 — Mr. Seldon (Attachment 1) Mr. Seldon stated that once the weather spikes or reductions in weather are taken out then the focus will be to figure out if it is the economy or is it the conservation, the answer will probably be a little of both. Chairman Talbot clarified that the 40 lowest kilowatt hours purchased that occurred in 2009. Mr. Seldon concurred. Chairman Talbot added that is an indication of the economy. Mr. Seldon stated that February 2015 it was all about the cold. The average mean temperature for Reading which RMLD tracks internally, was 25.7 degrees in 2014 and in 2015 it was down to 16.2 degrees thus there is a drop in the mean temperature of 9.5 degrees. Chairman Talbot asked how the lower temperature reflects in sales. Mr. Seldon said that at the last Board meeting that evening in February, RMLD was at the point that we sold for the entire month of February, therefore sales are up a bit. Mr. Seldon stated that when comparing all the resources between February 2014 and February 2015, what actually produced more kilowatt hours, were the hydro projects and the Stony Brook Intermediate unit. The hydro disparity was due to an outage out of one of the hydro units. There was a significant increase in the kilowatt hour output from the hydro projects, but they are not as large a percentage of the portfolio. The Stony Brook Intermediate Plant increased from 7.8% in 2014 to over 12% in 2015, thus was picking up the kilowatt hours RMLD required. This report shows a comparative of 2014 and 2015 the output from the Intermediate Plant. Mr. Stempeck asked what is the significance of Stony Brook is it less or more expensive than RMLD's power supply portfolio? Mr. Seldon stated that Stony Brook is a swing unit in RMLD's portfolio and this report represents what Stony Brook is intended to do for RMLD's power supply portfolio. When the region needs kilowatts that is when Stony Brook makes money, this graph is a good representation that demonstrates exactly what the Stony Brook Power Plant does for our portfolio. Mr. Stempeck clarified, represented in the previous chart, the cost for Stony Brook is approximately $173 per megawatt hour, which is pretty high, it represents fiscally the third highest. Mr. Seldon explained that is why RMLD only wants to see it running when the locational marginal prices is higher than that, Stony Brook is filling in lower dollar kilowatt hours for our mix. r Mr. Seldon reported that the overall energy cost for RMLD was up slightly higher between 2014 and 2015. This was due to the fact that there was greater output. The locational marginal prices for 2015 are actually lower than they were for 2014. This is found on Table 4 where it shows the cost for power of the Intermediate Plant and the ISO Interchange. The numbers are lower for the ISO Interchange in 2015 than they are_for 2014. Chairman Talbot commented on the first slide noting it would good to have that with the zero at the xy axis although it will be much more subtle to see the zero at the bottom. He has been reading reports from the Energy Information Administration that stated there is flat kilowatts, but peaks are actually going up relative to average consumption. Twenty years ago the peak was fifty percent higher than the average day in New England, now it is at seventy percent or eighty percent above the average day. Ms. Parenteau stated that can all be incorporated in the report. The information can be broken out to look at the peaks in relationship to the energy. Chairman Talbot stated that would be good, but the trends are going upward. The reason is that the base power consumers are using is actually getting more efficient with lighting, refrigeration, etc. However, with the climate, on a hot day there is only so much more efficiency that can be achieved, however, the peaks are getting worse. The point of it would be that it shows the value of RMLD's future plans. The smart technologies that Mr. Jaffari addressed at the last meeting are only going to increase, it will be important to think about that and be able to explain it to the community. However expensive it appears to be, it will only be more valuable over time. Mr. Stempeck asked if the Board could have the charts in the Board packets. Ms. Parenteau stated that is the plan, but unfortunately due to the timing of the month and when purchase power settled we could not achieve it in February. RMLD will include all the charts in with the packet material, it is just the timing issue for this month. Chairman Talbot asked Mr. Seldon to send him an e -mail with the raw data and thanked him for the presentation. RFP- Wholesale Power Supply 2016 -2019 Mr. Seldon apologized for the information relative to the Power Supply RFP for the Wholesale Power for 2015 that was presented at the CAB meeting however, did not make the Board packets. Mr. Seldon explained that the outline is very similar to what was presented at the November CAB and RMLB meetings last year. Mr. Seldon stated that RMLD is trying to be early in order to take advantage of the attractive pricing this year and that is why it is being presented tonight. Regular Session Meeting Minutes March 26, 2015 4 Power Supply Report — February 2015 — Mr. Seldon (Attachment 1) RFP- Wholesale Power Supply 2016 -2019 Mr. Pacino made a motion seconded by Mr. Stempeck that the RMLD Board of Commissioners authorize the General Manager to execute one or more Power Supply Agreements in accordance with RMI.D's Wholesale Power Supply Plan for power supply purchases for a period not to exceed 2016 through 2019 and in amounts not to exceed 31 megawatts in 2016, 10 29 megawatts in 2017, 27 megawatts in 2018, and 25 megawatts in 2019, as presented by the Director of Integrated Resources and on the recommendation of the RMLD Citizens' Advisory Board and the General Manager. Motion carried 4:0:0. Engineering and Operations Report — February 2015 — Mr. Price (Attachment 2) Ms. Parenteau stated that since Mr. Jaffari is on vacation, Mr. Peter Price was going to present this report. However, he had a conflict and was unable to attend the meeting. Ms. Parenteau will speak to some of the highlights. If there are any specific questions she will refer them to Mr. Price and respond back to the Board. Ms. Parenteau reported that the projects are accelerating, however, the weather had an impact in February. On the capital side, there was not much spending on those projects. The System Average Interruption Duration Index (SAIDI), System Average Information Frequency Index (SAIFI) and Customer Average Interruption Duration Index (CAIDI) are all below the regional and national averages. For the month of February, RMLD managed the storms very well. There were eight area outages: five equipment related, two vehicles and one caused by a tree. Ms. Parenteau stated that if the Board has any specific questions with the capital projects she will get the answers for them. Financial Report — February 2015 — Mr. Fournier (Attachment 3) Mr. Fournier reported on the February 2015 Financials which represent the first eight months of the fiscal year. The actual month represented a Net Loss of $81,000.00 which decreased the year to date Net Income to $2.74 million. Mr. Fournier stated that budgeted at this time is $1.5 million dollars which resulted in Net Income of over budget $1.3 million. With the $2.74 million in Net Income, the actual year to date Fuel Revenues exceeded Fuel Expenses by $300,000. Purchase Power Capacity and Transmission Revenues have exceeded the expenses by $700,000. The two pass through amounts came in higher therefore, in four more months we should get that as close as possible for our best guesstimate $2.7 million appears robust, but there is $1 million of that is not in sync. Mr. Fournier then explained the revenues stating the year to date Base Revenues are under budget by $200,000.00. Actual Base Revenues were $14.8 million compared to the budgeted amount of $15 million. Mr. Fournier stated that the Base Revenues were reforecasted in late fall decreasing it by $350,000. For the first eight months we are actually doing a little better than our reforecasting by $120,000.00. Mr. Fournier stated that year to date Purchase Power Base Expense is over budget $365,000 or 1.9 %. Actual Purchase Power Base cost came in at $19.5 million compared to the budgeted amount of $19.2 million. On the Operating and Maintenance side, Mr. Fournier reported that expenses combined were over budget by $93,000 or 1 %. The actual Operating and Maintenance expenses came in at $9.5 million compared to the budgeted of about $9.4 million. Looking at the graph, the budget was reforecasted with the Operating, Maintenance, Depreciation and Town Payment expenses all coming in flat. The results for the first eight months was $85,000 higher in expenses compared to the reforecasted amount. The reforecasted amount was in line with the budget amount. Costs are being held down as much as possible. On the cash side, Mr. Fournier reported that the Operating Fund is a healthy $12 million, the Capital Fund balance is $5.7 million, the Rate Stabilization Fund $6.7 million, Deferred Fuel at $4.4 million and the Energy Conservation Fund $566,000. Mr. Fournier stated that on the general information side due to the cold month in February, actual kilowatts sales year to date $4.76 million which is $lmillion ahead of last year's actual figure. March's preliminary numbers look like they will be coming in lower than last year's March's actual, but after the first eight months we are caught up. On the budget side, Mr. Fournier reported that the five divisions were over budget by $65,000. Mr. Fournier also reported that we are finalizing the capital and operating budgets which will be presented next month. Mr. Pacino clarified that the budget is at $2.7 million, now that is over budget and asked Mr. Fournier if that is over budget for the year to date or once the fiscal year is ended at the end of June. Mr. Fournier stated that the goal is to come in at around $2.5 million in order to get it close to seven or eight percent rate of return. With adjusted Net Income, it is at $1.7 million, we may have to cut some expenses in last four months. Depending if the weather cooperates, we should come close. Regular Session Meeting Minutes March 26, 2015 M.G.L. Chapter 30 B Bid (Attachment 4) IFB 2015 -19 Walk -In Van Ms. Parenteau reported that this bid is for a walk -in van for Technical Services that will be used as a mobile testing truck. Ms. Parenteau explained much of the maintenance work at the substation was formally outsourced. Ms. Parenteau stated that the intention now with Mr. Jaffari's maintenance programs is to have a personnel from the RMLD trained to perform this work internally. This van will allow them to transport AC /DC test equipment, oil containment, hazmat equipment to the various substations. There were two bidders. Included in the bid is a trade in of Truck #48 and both bidders had the exact same trade in value with Boston Freightliners as the lowest qualified and responsive bidder. Chairman Talbot asked what purchasing this vehicle will bring for in house savings. Ms. Parenteau stated that she will get those numbers for the Board, noting this van is a capital budget item for 2015 which was for $150,000 and the bid came in lower than budgeted. Mr. Pacino made a motion seconded by Mr. Stempeck that bid 2015 -19 for one Walk -In Van be awarded to Boston Freightliner for $139,802.00 as the lowest, qualified and responsive bidder on the recommendation of the General Manager. Motion carried 4:0:0. BOARD MATERIAL AVAILABLE BUT NOT DISCUSSED E -Mail responses to Account Payable/Payroll Questions Rate Comparisons, March RMLD Board Meetings Thursday, May14, 2015 — To include Fiscal Year 2016 Budget, 6:30 p.m. start time Thursday, May 28, 2015 — To include Fiscal Year 2016 Budget, 6:30 p.m. start time RMLD Board Committee Meetings Thursday, April 23, 2015 CAB Meetings Wednesday, April 15, 2015 — Budget Meeting — Wilmington Wednesday, April 22, 2015 — Budget Meeting — RMLD Adjournment At 8:07 p.m. Mr. Pacino made a motion seconded by Mr. O'Rourke to adjourn the Regular Session. Motion carried 4:0:0. A true copy of the RMLD Board of Commissioners minutes as approved by a majority of the Commission. Philip B. Pacino, Secretary Pro Tern RMLD Board of Commissioners To: Coleen O'Brien From;. ' Vk r Maureen McHugh, Jane Parentea Date: March 18, 2015 Subject: Purchase Power Summary — February, 2015 Energy Services Division (ESD) has completed the Purchase Power Summary for the month of February, 2015. ENERGY The RMLD's total metered load for the month was 57,883,121 kWh, which is a 5.20% increase from the February, 2014 figures. Table 1 is a breakdown by source of the energy purchases. Table 1 Attachment 1 Amount of Cost of % of Total Total $ $ as a Resource Energy Energy Energy Costs (kWh) ($ /Mwh) Millstone #3 3,355,161 $6.70 5.79% $22,489 0.64% Seabrook 5,320,689 $6.69 9.19% $35,575 1.01% Stonybrook Intermediate 7,226,076 $173.46 12.48% $1,253,423 35.41% Shell Energy 6,497,600 $69.86 11.22% $453,923 12.82% NextEra 8,060,000 $71.71 13.92% $577,982 16.33% NYPA 2,296,184 $4.92 3.97% $11,297 0.32% ISO Interchange 5,169,424 $89.35 8.93% $461,887 13.05% NEMA Congestion 0 $0.00 0.00% - $471,821 - 13.33% Coop Resales 20,837 $145.48 0.04% $3,031 0.09% BP Energy 8,750,400 $47.73 15.11% $417,657 11.80% Summit Hydro /Collins /Pioneer 1,597,592 $47.81 2.76% $76,383 2.16% Braintree Watson Unit 457,273 $204.94 0.79% $93,712 2.65% Swift River Projects 930,131 $14.82 1.61% $88,873 2.51% Exelon 7,885,600 $55.97 13.62% $441,366 12.47% Stonybrook Peaking 337,007 $219.38 0.58% $73,933 2.09% Monthly Total 57,903,974 $61.13 100.00% $3,539,710 100.00% Attachment 1 Table 2 breaks down the ISO interchange between the DA LMP Settlement and the RT Net Energy for the month of February, 2015. Table 2 Amount Cost % of Total Resource of Energy of Energy Energy (kWh) ($ /Mwh) ISO DA LMP * 5,813,949 88.68 10.04% Settlement RT Net Energy ** - 644,525 33.97 -1.11% Settlement ISO Interchange 5,169,424 89.35 8.93% (subtotal) Independent System Operator Day -Ahead Locational Marginal Price " Real Time Net Energy FEBRUARY 2015 ENERGY BY RESOURCE Swift River Projects, 1.640 Braintree Watsor, Unit, 0.8% _ Summit Hydro, 2.8% Stomp brook Peakin;, Millstone 43, 5.8% 0.6 °0 Stonybtook Inter mediate,12.5°i- CAPACITY The RMLD hit a demand of 108,841 kW, which occurred on February 2, at 7 pm. The RMLD's monthly UCAP requirement for February, 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 34.32 $169,863 11.39% Seabrook 7,919 39.88 $315,771 21.17% Stonybrook Peaking 24,981 2.04 $51,020 3.42% Stonybrook CC 42,925 7.77 $333,545 22.36% NYPA 4,019 4.19 $16,834 1.13% Hydro Quebec 0 0 - $13,193 -0.88% Nextera 60,000 5.65 $339,000 22.73% Braintree Watson Unit 10,520 11.20 $117,830 7.90% ISO -NE Supply Auction 54,497 2.95 $160,864 10.79% Total 209,811 $7.11 $1,491,533 100.00% Table 4 shows the dollar amounts for energy and capacity per source. * Renewable Resources 10.64% Table 4 Cost of % of Amt of Energy Power Resource Energy Capacity Total cost Total Cost (kWh) ($ /kWh) Millstone #3 $22,489 $169,863 $192,352 3.81% 3,355,161 0.0573 Seabrook $35,575 $315,771 $351,346 6.96% 5,320,689 0.0660 Stonybrook Intermediate $1,253,423 $333,545 $1,586,967 31.46% 7,226,076 0.2196 Hydro Quebec $0 - $13,193 - $13,193 -0.26% - 0.0000 Shell Energy $453,923 $0 $453,923 9.00% 6,497,600 0.0699 NextEra $577,982 $339,000 $916,982 18.18% 8,060,000 0.1138 * NYPA $11,297 $16,834 $28,131 0.56% 2,296,184 0.0123 ISO Interchange $461,887 $160,864 $622,751 12.34% 5,169,424 0.1205 Nema Congestion - $471,821 $0 - $471,821 -9.35% - 0.0000 BP Energy $417,657 $0 $417,657 8.28% 8,750,400 0.0477 * Summit Hydro /Collins /Pioneer $89,828 $0 $89,828 1.78% 3,090,875 0.0291 Braintree Watson Unit $93,712 $117,830 $211,542 4.19% 457,273 0.4626 Swift River Projects $88,873 $0 $88,873 1.76% 930,131 0.0955 Coop Resales $3,031 $0 $3,031 0.06% 20,837 0.1455 Exelon Energy $441,366 $0 $441,366 8.75% 7,885,600 0.0560 Stonybrook Peaking $73,933 $51,020 $124,952 2.48% 337,007 0.3708 Monthly Total $3,553,155 $1,491,533 $5,044,688 100.00% 59,397,257 0.0849 * Renewable Resources 10.64% RENEWABLE ENERGY CERTIFICATES (RECD Table 5 shows the amount of banked and projected RECs for the Swift River Hydro Projects through February 2015, as well as their estimated market value. TRANSMISSION The RMLD's total transmission costs for the month of February, 2015 were $947,036. This is an increase of 31.27% from the January transmission cost of $721,439. In February, 2014 the transmission costs were $912,647. Table 6 Current Month Table 5 Last Year Peak Demand (kW) 108,841 Swift River RECs Summary 105,961 Energy (kWh) 57,903,974 Period - July 2014 -February 2015 55,023,648 Energy ($) Banked Projected Total Est. Capacity ($) RECs RECs RECs Dollars Woronoco 0 2,079 2,079 $99,792 Pepperell 1,342 3,007 4,349 $208,752 Indian River 638 1,595 2,233 $107,184 Turners Falls 1,609 504 2,113 $0 Sub total 3,589 7,185 10,774 $415,728 RECs Sold 8,456 $409,180 Grand Total 3,589 7,185 19,230 $824,908 TRANSMISSION The RMLD's total transmission costs for the month of February, 2015 were $947,036. This is an increase of 31.27% from the January transmission cost of $721,439. In February, 2014 the transmission costs were $912,647. 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INO Q V 0) O O 0 wwwwwwwww C 0 O v m N N n N co d g g g g g g g g g Q m u) Q N M N O U m ao wwwwwwwww 7C) Y r Q t0 N V N C) N U O p n® N n 0 N n N n !n r CP n m Q O d � m 72 O E p w www w w w w w N p CJ O N K01 0 O N n n m Q A 0 n Ln L N m to Q t0 Q m N O N 0 wwwwwwwww L Lo N co m 00^ rn r Lo N N C) l7 N (7 N O N ° � Ln 0, 0 m O to r m m N N O � 0 to w w w w w w w w d m n m p Mp M r`ni m N i Q N fh m N Cl) N r N d N 41 00 O Ln L0n ion i00 00 Ln N C_ m r) m N m N O .- L N Q O 'n m Q m m n V N N N N N C`p q� 0 w w w w w w w w w c m m O) t0 Of m N f7 w m 0 N co m N m 7 C0 Q Ln Q C7 N C7 r > � N m > PROJ DESCRIPTION READING MUNICIPAL LIGHT DEPARTMENT FY 15 CAPITAL BUDGET VARIANCE REPORT FOR PERIOD ENDING FEBRUARY 28, 2015 ACTUAL COST YTD ANNUAL REMAINING TOWN FEB ADDITIONS BUDGET BALANCE CONSTRUCTION: 101 5W9 Reconductoring - Ballardvale Area W 1,724 11,586 253,000 241,414 102 Pole Line Upgrade Lowell Street W 745 61,442 173,000 111,559 104 Upgrade Old Lynnfield Center URDs (Cook's Farm) LC 29,240 56,087 217,000 160,913 105 4W5 - 4W6 Tie R 70,000 70,000 106 URD Upgrades ALL 3,316 51,425 319,000 267,575 107 Step -down Area Upgrades ALL 9,436 39,586 203,000 163,414 212 Force Account West Street R 224,000 224,000 SUB -TOTAL 44,460 220,126 1,459,000 1,238,875 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 SUB -TOTAL - 2,192 135,000 135,000 NEW CUSTOMER SERVICES: 112 New Service Installations (Commercial / Industrial) ALL 12,465 57,000 44,535 113 New Service Installations (Residential) ALL 5,606 93,480 260,000 166,520 SUB -TOTAL 5,606 105,945 317,000 211,055 ROUTINE CONSTRUCTION: 114 Routine Construction ALL 152,457 1,234,196 947,000 (287,196) SPECIAL PROJECTS / CAPITAL PURCHASES: 103 Distribution Protection and Automation ALL 69,000 69,000 116 Transformers and Capacitors ALL 144,980 144,980 444,000 299,020 117 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 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 121,000 121,000 135 Arc Flash Study ALL 35,000 35,000 137 SCADA System Upgrade - Hardware ALL 20,332 63,000 42,668 SUB -TOTAL 149,680 251,433 1,296,000 1,044,568 OTHER CAPITAL PROJECTS: 118 Rolling Stock Replacement ALL 434,000 434,000 119 Security Upgrades All Sites ALL 10,783 17,253 61,000 43,747 120 Great Plains / Cogsdale Upgrade ALL 6,850 39,350 350,000 310,650 121 HVAC System Upgrade - 230 Ash Street R 10,900 399,000 388,100 123 Oil Containment Facility Construction LC 11,168 80,000 68,832 127 Hardware Upgrades ALL 9,000 28,387 102,000 73,613 128 Software and Licensing ALL 28,316 122,000 93,684 129 Master Facilities Site Plan R 50,000 50,000 136 Organizational / Reliability Studies ALL 100,000 100,000 SUB -TOTAL 26,633 135,374 1,698,000 1,562,626 Attachment 2 TOTAL CAPITAL BUDGET $ 378,836 $ 1,949,265 $ 5,852,000 $ 3,904,927 READING MUNICIPAL LIGHT DEPARTMENT Engineering and Operations Monthly Report February 2015 CAPITAL IMPROVEMENTS 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 $5,606 $93,480 underground services. Special Projects /Capital Purchases: 116 Transformers Purchase $144,980 $144,980 126 Communication Equipment (Fiber Optic) $4,700 $4,700 March 20, 2015 1 Complete FY14 -15 Construction Projects: Status Month YTD 101 5W9 Reconductoring — Ballardvale Area 60% $1,724 $11,586 Engineering labor. Pole Line Upgrade- Lowell Street, Wilmington 102 Engineering plans completed. Construction has begun 15% $745 $61,442 (as of 1/14/15). 104 Upgrade Old Lynnfield Center URDs (Cook's Farm) 25% $29,240 $56,087 106 URD Upgrades — All Towns going $3,316 $51,425 107 Step -down Area Upgrades — All Towns On- $9,436 $39,586 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 $5,606 $93,480 underground services. Special Projects /Capital Purchases: 116 Transformers Purchase $144,980 $144,980 126 Communication Equipment (Fiber Optic) $4,700 $4,700 March 20, 2015 1 ROUTINE CONSTRUCTION Feb YTD Pole Setting/Transfers 8,701 261,466 Overhead/Underground 38,298 355,965 Projects Assigned as Required 1,380 220,193 Pole Damage /Knockdowns Work was done to repair or replace one (1) damaged pole. 4,758 33,607 Station Group 73,366 97,532 Hazmat/Oil Spills 3,831 Porcelain Cutout Replacement Program 2,901 7,970 Lighting Street Light Connections 5,104 17,785 Storm Trouble 1,105 34,702 Underground Subdivisions (new construction) • Mariano Drive, Reading 3,379 47,434 Animal Guard Installation 5,812 Miscellaneous Capital Costs 13,465 147,902 TOTAL: $ 152,457 _$ 1,234,197 March 20, 2015 MAINTENANCE PROGRAMS Aged /Overloaded Transformer Replacement through 2/28/15 Padmount: Single- Phase: 11.36% replaced (of those over 20 years old) Three - Phase: 6.41 % replaced (of those over 20 years old) Overhead: Single- Phase: 8.85% 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) Year -one inspection complete: 645 poles tested ( -10 %) • 390 silver tag (PASSED) • 233 red tag (FAILED): 41 have been replaced (as of 3120115) • 22 double red tag (CONDEMNED): 22 have been replaced 20 of 63 transfers have been completed (as of 3120115) 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 February 2015, there are 311 remaining porcelain cutouts to be replaced. 88% complete. Substations: Infared Scanning (Monthly) Station 3 Scanning complete through February - no hot spots found Station 4 Scanning complete through February - no hot spots found Station 5 Scanning complete through February - no hot spots found Substation Maintenance Program • Inspection of all three stations by UPG in progress. 95% complete March 20, 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 _ 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 V56 __.. 0.00 2010 2011 2012 2013 - 2014 -2015 Average SAIDI 85.75 � 2010 X2011 62-35 � 2012 X2013 X2014 � 2015 YTD P _ 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 2010 -2011- 2012 - 2013 -2014 -2015 Average SAM March 20, 2015 0.83 0.55 X2010 X2011 � 2012 X2013 X2014 � 2015 YTD Region Average National Average 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. 120.00 100.00 80.00 60.00 40.00 20.00 0.00 CAIDI 2010 -2015 2010 -2011- 2012 - 2013 - 2014 -2015 Average CAIDI � 2010 X2011 � 2012 � 2013 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. March 20, 2015 5 Outages Causes Calendar YTD (from eReliability website) January • February 2015 va�we r. -e t Y, Unknown Weather . 7 10 3% Vehicle Accident 4% 10 4% V Utility Human Error 1 1% Natural 1 0% aua*Ier+ 63'x, Outage Cause Total Outage Causes Annual Average 2010 -2015 ■ Equipment Tree Wildlife • Vehicle Accident • Weather • Unknown Utility Human Error • Natural Count a March 20, 2015 6 Dt: March 22, 2015 To: RMLB, Coleen O'Brien, Jeanne Foti Fr: Bob Fournier Sj: February 28, 2015 Report The results for the first eight months ending February 28, 2015, for the fiscal year 2015 will be summarized in the following paragraphs. 1) Change in Net Assets: (Page 3A) *For the month of February, the net loss or the negative change in net assets was $81,193 decreasing the year to date net income to $2,744,459. The year to date budgeted net income was $1,455,911, resulting in net income being over budget by $1,318,548 or 90.5 %. Actual year to date fuel revenues exceeded fuel expenses by $331,951 and purchased power capacity and transmission (ppct) revenues exceed ppct expenses by $701,130. 2) Revenues: (Page 3A) *Year to date base revenues were under budget by $189,118 or 1.26 %. Actual base revenues were $14.8 million compared to the budgeted amount of $15.0 million. 3) Expenses: (Page 12A) *Year to date purchased power base expense was over budget by $364,500 or 1.9 %. Actual purchased power base costs were 19.5 million and budgeted power base costs were $19.2 million. *Year to date operating and maintenance (O &M) expenses combined were over budget by $93,407 or .99 %. Actual O &M expenses were $9.5 million compared to the budgeted amount of $9.4 million. *Depreciation expense and voluntary payments to the Towns were on budget. 4) Cash: (Page 9) *Operating Fund was at $11,998,155. * Capital Fund balance was at $5,769,263. * Rate Stabilization Fund was at $6,766,780. * Deferred Fuel Fund was at $4,464,645. * Energy Conservation Fund was at $566,828. 5) General Information: *Year to date kwh sales (Page 5) were 476,380,851 which is 932,945 thousand kwh or .2 %, ahead last year's actual figure. Budget Variance: *Cumulatively, the five divisions were over budget by $65,103 or .45% Attachment 3 FINANCIAL REPORT FEBRUARY 28, 2015 ISSUE DATE: MARCH 23, 2015 PREVIOUS YEAR CURRENT YEAR TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT BUSINESS-TYPE PROPRIETARY FUND cr STATEMENT OF NET ASSETS 2/28/2015 PREVIOUS YEAR CURRENT YEAR NET ASSETS INVESTED IN CAPITAL ASSETS, NET OF RELATED DEBT RESTRICTED FOR DEPRECIATION FUND (P.9) UNRESTRICTED TOTAL NET ASSETS (P.3) TOTAL LIABILITIES AND NET ASSETS (1) 70,055,812.21 69,569,059.01 4,377,028.77 5,769,263.04 22,953,354.11 29,309,471.74 97,386,195.09 104,647,793.79 108,988,120.45 117,741,121.44 ASSETS CURRENT UNRESTRICTED CASH (SCH A P.9) 12,601,440.80 12,001,155.54 RESTRICTED CASH (SCH A P.9) 15,773,304.95 21,084,408.77 RESTRICTED INVESTMENTS (SCH A P.9) 1,250,000.00 1,292,906.26 RECEIVABLES, NET (SCH B P.10) 6,739,073.12 10,666,277.35 PREPAID EXPENSES (SCH B P.10) 1,147,359.30 1,606,891.32 INVENTORY 1,389,750.75 1,493,429.44 TOTAL CURRENT ASSETS 38,900,928.92 48,145,068.68 NONCURRENT INVESTMENT IN ASSOCIATED CO (SCH C P.2) 31,379.32 26,993.75 CAPITAL ASSETS, NET (SCH C P.2) 70,055,812.21 69,569,059.01 TOTAL NONCURRENT ASSETS 70,087,191.53 69,596,052.76 TOTAL ASSETS 108,988,120.45 117,741,121.44 LIABILITIES CURRENT ACCOUNTS PAYABLE 7,418,549.90 8,641,226.71 CUSTOMER DEPOSITS 724,665.92 834,764.91 CUSTOMER ADVANCES FOR CONSTRUCTION 399,624.15 560,369.71 ACCRUED LIABILITIES 173,717.51 138,095.59 TOTAL CURRENT LIABILITIES 8,716,557.48 10,174,456.92 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 11,601,925.36 13,093,327.65 NET ASSETS INVESTED IN CAPITAL ASSETS, NET OF RELATED DEBT RESTRICTED FOR DEPRECIATION FUND (P.9) UNRESTRICTED TOTAL NET ASSETS (P.3) TOTAL LIABILITIES AND NET ASSETS (1) 70,055,812.21 69,569,059.01 4,377,028.77 5,769,263.04 22,953,354.11 29,309,471.74 97,386,195.09 104,647,793.79 108,988,120.45 117,741,121.44 TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT NONCURRENT ASSET SCHEDULE 2/28/2015 SCHEDULE OF INVESTMENTS IN ASSOCIATED COMPANIES PREVIOUS YEAR 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 6,430,835.66 EQUIPMENT AND FURNISHINGS 12,951,153.92 INFRASTRUCTURE 49,407,980.40 TOTAL CAPITAL ASSETS, NET 70,055,812.21 TOTAL NONCURRENT ASSETS 70,087,191.53 Izl SCHEDULE C CURRENT YEAR 2,975.74 24,018.01 26,993.75 1,265,842.23 6,180,734.51 12,455,535.19 49,666,947.08 69 569 059.01 69,596,052.76 TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT BUSINESS -TYPE PROPRIETARY FUND STATEMENT OF REVENUES, EXPENSES AND CHANGES IN FUND NET ASSETS 2/28/2015 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 FEBRUARY MONTH MONTH LAST YEAR CURRENT YEAR YTD % LAST YEAR CURRENT YEAR TO DATE TO DATE CHANGE 4,045,299.15 1,899,560.28 31,351,435.82 14,838,771.99 2,880,989.98 3,061,242.48 21,205,944.28 23,799,690.04 104,297.50 2,708,988.35 339,224.69 20,273,384.40 65,963.17 66,758.80 618,647.73 534,751.53 56,723.44 60,570.24 467,988.42 466,132.63 57,637.66 0.00 475,253.40 0.00 (176,031.57) (114,961.73) (537,012.20) (597,415.15) 7,034,879.33 7,682,158.42 53,921,482.14 59,315,315.44 1,473,369.05 1,491,533.27 11,709,891.41 11,362,115.95 916,482.17 944,966.16 7,802,627.71 8,210,139.06 3,381,465.32 3,579,980.29 22,342,877.91 22,870,324.72 855,099.75 862,633.71 6,493,741.84 7,286,288.82 231,176.12 320,830.79 1,900,514.72 2,241,678.15 314,969.55 321,788.79 2,519,756.40 2,574,310.32 116,666.67 118,000.00 931,850.34 934,754.00 7,289,228.63 7,639,733.01 53,701,260.33 55,479,611.02 - 52.67% 12.23% 5876.39% - 13.56% -0.40% - 100.00% 11.25% 10.00% -2.97% 5.22% 2.36% 12.20% 17.95% 2.17% 0.31% 3.31% (254,349.30) 42,425.41 220,221.81 3,835,704.42 1641.75% 4,755.24 8,629.83 31,183.86 89,491.75 186.98% (191,768.42) (194,405.26) (1,534,147.34) (1,555,242.02) 1.38% 10,018.31 11,084.59 35,783.82 92,630.40 158.86% (252.02) (251.38) (3,189.12) (3,293.45) 3.27% 195,793.17 51,323.31 319,163.27 315,168.53 -1.25% 18,546.28 (123,618.91) (1,151,205.51) (1,061,244.79) -7.81% (235,803.02) (81,193.50) (930,983.70) 2,774,459.63 - 398.01% (3) 98,317,178.79 101,873,334.16 3.62% 97,386,195.09 104,647,793.79 7.46% TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT BUSINESS -TYPE PROPRIETARY FUND STATEMENT OF REVENUES, EXPENSES AND CHANGES IN FUND NET ASSETS 2/28/2015 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 FEBRUARY * ( ) = ACTUAL UNDER BUDGET ACTUAL BUDGET % YEAR TO DATE YEAR TO DATE VARIANCE* CHANGE 14,838,771.99 15,027,890.00 (189,118.01) -1.26% 23,799,690.04 25,341,579.00 (1,541,888.96) -6.08% 20,273,384.40 19,968,813.00 304,571.40 1.53% 534,751.53 764,147.00 (229,395.47) - 30.02% 466,132.63 475,449.00 (9,316.37) -1.96% (597,415.15) (466,664.00) (130,751.15) 28.02% 59,315,315.44 61,111,214.00 (1,795,898.56) -2.94% 11,362,115.95 10,897,428.00 464,687.95 4.26% 8,210,139.06 8,310,327.00 (100,187.94) -1.21% 22,870,324.72 26,317,749.00 (3,447,424.28) - 13.10% 7,286,288.82 7,255,602.00 30,686.82 0.42% 2,241,678.15 2,178,957.00 62,721.15 2.88% 2,574,310.32 2,594,664.00 (20,353.68) -0.78% 934,754.00 944,000.00 (9,246.00) -0.98% 55,479,611.02 58,498,727.00 (3,019,115.98) -5.16% 3,835,704.42 2,612,487.00 1,223,217.42 46.82% 89,491.75 150,000.00 (60,508.25) - 40.34% (1,555,242.02) (1,555,240.00) (2.02) 0.00% 92,630.40 66,664.00 25,966.40 38.95% (3,293.45) (2,000.00) (1,293.45) 64.67% 315,168.53 184,000.00 131,168.53 71.29% (1,061,244.79) (1,156,576.00) 95,331.21 -8.24% 2,774,459.63 1,455,911.00 1,318,548.63 101,873,334.16 101,873,334.16 0.00 104,647,793.79 103,329,245.16 1,318,548.63 (3A) 90.57% 0.00% 1.28% TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT RECONCILIATION OF CAPITAL FUNDS 2/28/2015 SOURCE OF CAPITAL FUNDS: DEPRECIATION FUND BALANCE 7/1/14 4,130,584.59 CONSTRUCTION FUND BALANCE 7/1/14 1,000,000.00 INTEREST ON DEPRECIATION FUND FY 15 13,632.66 DEPRECIATION TRANSFER FY 15 2,574,310.32 TOTAL SOURCE OF CAPITAL FUNDS 7,718,527.57 USE OF CAPITAL FUNDS: LESS PAID ADDITIONS TO PLANT THRU FEBRUARY 1,949,264.53 GENERAL LEDGER CAPITAL FUNDS BALANCE 2/28/15 21 (4) 5,769,263.04 TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT SALES OF KILOWATT HOURS 2/28/2015 (5) YTD % CHANGE -1.46% 0.92% 5.58% -0.02% 1.25% 2.78% 2.43% 1.34% 8.46% 0.20% MONTH MONTH LAST YEAR CURRENT YEAR SALES OF ELECTRICITY: LAST YEAR CURRENT YEAR TO DATE TO DATE RESIDENTIAL SALES 21,893,542 23,343,797 181,515,008 178,865,482 COMM. AND INDUSTRIAL SALES 32,769,561 35,179,051 273,128,181 275,637,686 PRIVATE STREET LIGHTING 76,631 79,525 599,448 632,921 TOTAL PRIVATE CONSUMERS 54,739,734 58,602,373 455,242,637 455,136,089 MUNICIPAL SALES: STREET LIGHTING 240,064 242,710 1,918,414 1,942,485 MUNICIPAL BUILDINGS 911,438 1,024,376 6,466,678 6,646,477 TOTAL MUNICIPAL CONSUMERS 1,151,502 1,267,086 8,385,092 8,588,962 SALES FOR RESALE 273,589 317,534 2,306,631 2,337,611 SCHOOL 1,458,737 1,639,613 9,513,546 10,318,189 TOTAL KILOWATT HOURS SOLD 57,623,562 61,826,606 475,447,906 476,380,851 (5) YTD % CHANGE -1.46% 0.92% 5.58% -0.02% 1.25% 2.78% 2.43% 1.34% 8.46% 0.20% TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT KILOWATT HOURS SOLD BY TOWN 2/28/2015 TOTAL READING LYNNFIELD NO.READING WILMINGTON MONTH RESIDENTIAL 23,343,797 7,211,791 3,154,526 4,948,701 8,028,779 COMM & IND 35,179,051 4,865,776 296,975 5,571,723 24,444,577 PVT ST LIGHTS 79,525 13,418 1,491 24,840 39,776 PUB ST LIGHTS 242,710 81,549 32,770 42,685 85,706 MUNI BLDGS 1,024,376 350,406 197,070 154,588 322,312 SALES /RESALE 317,534 317,534 0 0 0 SCHOOL 1,639,613 525,922 340,976 334,900 437,815 TOTAL 61,826,606 13,366,396 4,023,808 11,077,437 33,358,965 YEAR TO DATE RESIDENTIAL 178,865,482 55,629,800 25,715,875 40,756,425 56,763,382 COMM & IND 275,637,686 34,452,729 2,187,350 42,608,138 196,389,469 PVT ST LIGHTS 632,921 107,028 12,159 198,548 315,186 PUB ST LIGHTS 1,942,485 652,739 262,296 341,435 686,015 MUNI BLDGS 6,646,477 1,774,221 1,376,538 1,160,581 2,335,137 SALES /RESALE 2,337,611 2,337,611 0 0 0 SCHOOL 10,318,189 3,469,096 2,160,829 1,719,100 2,969,164 TOTAL 476,380,851 98,423,224 31,715,047 86,784,227 259,458,353 LAST YEAR TO DATE RESIDENTIAL 181,515,008 57,311,806 25,796,438 42,259,607 56,147,157 COMM & IND 273,128,181 34,158,772 2,228,743 42,877,340 193,863,326 PVT ST LIGHTS 599,448 105,032 11,210 180,886 302,320 ■r' PUB ST LIGHTS 1,918,414 645,436 260,000 335,582 677,396 MUNI BLDGS 6,466,678 1,746,464 1,280,215 1,163,805 2,276,194 SALES /RESALE 2,306,631 2,306,631 0 0 0 SCHOOL 9,513,546 3,392,011 2,160,162 1,179,200 2,782,173 TOTAL 475,447,906 99,666,152 31,736,768 87,996,420 256,048,566 KILOWATT HOURS SOLD TO TOTAL TOTAL READING LYNNFIELD NO.READING WILMINGTON MONTH RESIDENTIAL 37.76% 11.66% 5.10% 8.00% 13.00% COMM & IND 56.90% 7.87% 0.48% 9.01% 39.54% PVT ST LIGHTS 0.13% 0.02% 0.00% 0.04% 0.07% PUB ST LIGHTS 0.39% 0.13% 0.05% 0.07% 0.14% MUNI BLDGS 1.66% 0.57% 0.32% 0.25% 0.52% SALES /RESALE 0.51% 0.51% 0.00% 0.00% 0.00% SCHOOL 2.65% 0.85% 0.55% 0.54% 0.71% TOTAL 100.00% 21.61% 6.50% 17.91% 53.98% YEAR TO DATE RESIDENTIAL 37.55% 11.68% 5.40% 8.56% 11.91% COMM & IND 57.86% 7.23% 0.46% 8.94% 41.23% 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 1.39% 0.37% 0.29% 0.24% 0.49% SALES /RESALE 0.49% 0.49% 0.00% 0.00% 0.00% SCHOOL 2.17% 0.73% 0.45% 0.36% 0.63% TOTAL 100.00% 20.66% 6.66% 18.21% 54.47% LAST YEAR TO DATE RESIDENTIAL 38.18% 12.05% 5.43% 8.89% 11.81% COMM & IND 57.44% 7.18% 0.47% 9.02% 40.77% or PVT ST LIGHTS 0.13% 0.02% 0.00% 0.04% 0.07% PUB ST LIGHTS 0.40% 0.14% 0.05% 0.07% 0.14% MUNI BLDGS 1.36% 0.37% 0.27% 0.24% 0.48% SALES /RESALE 0.49% 0.49% 0.00% 0.00% 0.00% SCHOOL 2.00% 0.71% 0.45% 0.25% 0.59% TOTAL 100.00% 20.96% 6.67% 18.51% 53.86% (6) TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT FORMULA INCOME 2/28/2015 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) 59,315,315.44 0.00 2,787.32 (55,479,611.02) (3,293.45) 3,835,198.29 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 ••I 6 75 TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT GENERAL STATISTICS 2/28/2015 MONTH OF FEB 2014 57,623,562 55,023,648 0.043433 0.070202 0.104888 0.120199 2,880,989.98 71.13% 105,961 MONTH OF % CHANGE YEAR THRU FEB 2015 2014. 2015 FEB 2014 FEB 2015 61,826,606 -1.87% 0.20% 475,447,906 476,380,851 57,903,974 -0.95% -3.38% 492,932,387 476,275,857 0.025759 3.38% - 39.73% 0.039585 0.023856 0.030724 1.86% - 52.76% 0.065941 0.031149 0.085447 -1.71% - 15.35% 0.084911 0.071875 0.080237 -3.47% - 26.63% 0.110543 0.081108 3,061,242.48 - 12.70% 12.23% 21,205,944.28 23,799,690.04 72.88% 108,841 (B) TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT SCHEDULE OF CASH AND INVESTMENTS 2/28/2015 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 (9) PREVIOUS YEAR 12,598,440.80 3,000.00 12,601,440.80 4,377,028.77 616,870.18 935,541.55 6,705,435.17 200,000.00 1,641,176.18 150,000.00 724,865.92 422,387.18 15,773,304.95 1,250,000.00 29,624,745.75 SCHEDULE A CURRENT YEAR 11,998,155.54 3,000.00 12,001,155.54 5,769,263.04 624,810.50 4,464,645.13 6,766,780.52 200,000.00 1,707,316.51 150,000.00 834,764.91 566,828.16 21,084,408.77 1,292,906.26 34,378,470.57 TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT SCHEDULE OF ACCOUNTS RECEIVABLE 2/28/2015 PREVIOUS YEAR SCHEDULE OF ACCOUNTS RECEIVABLE RESIDENTIAL AND COMMERCIAL 2,813,753.49 ACCOUNTS RECEIVABLE - OTHER 231,911.95 ACCOUNTS RECEIVABLE - LIENS 37,169.47 ACCOUNTS RECEIVABLE - EMPLOYEE ADVANCES 892.14 SALES DISCOUNT LIABILITY (252,658.32) RESERVE FOR UNCOLLECTIBLE ACCOUNTS (250,018.11) TOTAL ACCOUNTS RECEIVABLE BILLED 2,581,050.62 UNBILLED ACCOUNTS RECEIVABLE 4,158,022.50 TOTAL ACCOUNTS RECEIVABLE, NET 6,739,073.12 SCHEDULE OF PREPAYMENTS PREPAID INSURANCE 1,258,788.74 PREPAYMENT PURCHASED POWER (686,919.08) PREPAYMENT PASNY 242,260.90 PREPAYMENT WATSON 318,705.04 PURCHASED POWER WORKING CAPITAL 14,523.70 TOTAL PREPAYMENT 1,147,359.30 ACCOUNTS RECEIVABLE AGING FEBRUARY 2015: RESIDENTIAL AND COMMERCIAL 5,448,830.14 LESS: SALES DISCOUNT LIABILITY (317,614.11) GENERAL LEDGER BALANCE 5,131,216.03 CURRENT 4,530 , 069.74 88.29% 30 DAYS 444,586.81 8.66% 60 DAYS 90,911.95 1.77% 90 DAYS 23,640.54 0.46% OVER 90 DAYS 42,006.99 0.82% TOTAL 5,131,216.03 100.00% (10) SCHEDULE B CURRENT YEAR 5,448,830.14 154,341.39 35,318.68 892.14 (317,614.11) (277,760.17) 5,044,008.07 5,622,269.28 10,666,277.35 1,249,692.62 (128,773.22) 259,957.39 213,314.42 12,700.11 1,606,891.32 (11) TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT SCHEDULE OF OPERATING REVENUE 2/28/2015 SCHEDULE D MONTH MONTH LAST YEAR CURRENT YEAR YTD % SALES OF ELECTRICITY: LAST YEAR CURRENT YEAR TO DATE TO DATE CHANGE RESIDENTIAL SALES 2,928,756.48 2,211,172.75 22,415,882.10 17,037,344.66 - 23.99% COMM AND INDUSTRIAL SALES 3,654,504.37 2,486,924.22 27,877,122.00 19,781,044.21 - 29.04% PRIVATE STREET LIGHTING 6,290.74 9,522.59 45,056.59 75,649.08 67.90% TOTAL PRIVATE CONSUMERS 6,589,551.59 4,707,619.56 50,338,060.69 - 26.71% 36,894,037.95 MUNICIPAL SALES: STREET LIGHTING 29,488.91 29,865.45 216,708.92 238,896.10 10.24% MUNICIPAL BUILDINGS 108,315.94 77,175.99 722,607.75 522,810.99 - 27.65% TOTAL MUNICIPAL CONSUMERS 137,804.85 107,041.44 939,316.67 - 18.91% 761,707.09 SALES FOR RESALE 33,874.62 26,931.07 263,677.67 199,793.53 - 24.23% SCHOOL 165,058.07 119,210.69 1,016,325.07 782,923.46 - 22.97% SUB -TOTAL 6,926,289.13 4,960,802.76 52,557,380.10 38,638,462.03 - 26.48% FORFEITED DISCOUNTS 65,963.17 66,758.80 618,647.73 534,751.53 - 13.56% PURCHASED POWER CAPACITY 104,297.50 2,708,988.35 339,224.69 20,273,384.40 5876.39% ENERGY CONSERVATION - RESIDENTIAL 21,906.93 23,384.19 181,611.99 178,970.95 -1.45% ENERGY CONSERVATION - COMMERCIAL 34,816.51 37,186.05 286,376.43 287,161.68 0.27% GAW REVENUE 57,637.66 0.00 475,253.40 0.00 - 100.00% NYPA CREDIT (176,031.57) (114,961.73) (537,012.20) (597,415.15) 11.25% TOTAL REVENUE 7,034,879.33 53,921,482.14 10.00% 7,682,158.42 59,315,315.44 (11) TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT SCHEDULE OF OPERATING REVENUE BY TOWN 2/28/2015 TOTAL READING LYNNFIELD NO.READING WILMINGTON MONTH RESIDENTIAL 2,211,172.75 687,019.90 297,261.85 469,975.13 756,915.87 INDUS /MUNI BLDG 2,564,100.21 402,442.12 39,214.73 423,750.19 1,698,693.17 PUB.ST.LIGHTS 29,865.45 10,014.23 4,024.08 5,272.05 10,555.09 PRV.ST.LIGHTS 9,522.59 1,571.38 181.64 3,078.09 4,691.48 CO -OP RESALE 26,931.07 26,931.07 0.00 0.00 0.00 SCHOOL 119,210.69 38,646.98 24,187.21 24,422.75 31,953.75 TOTAL 4,960,802.76 1,166,625.68 364,869.51 926,498.21 2,502,809.36 THIS YEAR TO DATE RESIDENTIAL 17,037,344.66 5,324,558.00 2,433,142.14 3,875,258.90 5,404,385.62 INDUS /MUNI BLDG 20,303,855.20 2,883,165.15 290,099.85 3,296,816.18 13,833,774.02 PUB.ST.LIGHTS 238,896.10 80,113.84 32,192.64 42,148.90 84,440.72 PRV.ST.LIGHTS 75,649.08 12,556.82 1,477.76 24,583.79 37,030.71 CO -OP RESALE 199,793.53 199,793.53 0.00 0.00 0.00 SCHOOL 782,923.46 266,613.58 161,919.70 132,597.15 221,793.03 TOTAL 38,638,462.03 8,766,800.92 2,918,832.07 7,371,404.93 19,581,424.11 LAST YEAR TO DATE RESIDENTIAL 22,415,882.10 7,107,498.25 3,170,120.87 5,220,332.38 6,917,930.60 INDUS /MUNI BLDG 28,599,729.75 3,938,023.75 390,835.73 4,641,281.92 19,629,588.35 PUB.ST.LIGHTS 216,708.92 70,436.11 27,811.03 38,512.11 79,949.67 PRV.ST.LIGHTS 45,056.59 7,812.93 825.30 14,071.58 22,346.78 €' CO -OP RESALE 263,677.67 263,677.67 0.00 0.00 0.00 SCHOOL 1,016,325.07 364,557.08 226,453.72 130,327.22 294,987.05 TOTAL 52,557,380.10 11,752,005.79 3,816,046.65 10,044,525.21 26,944,802.45 PERCENTAGE OF OPERATING INCOME TO TOTAL TOTAL READING LYNNFIELD NO.READING WILMINGTON MONTH RESIDENTIAL 44.58% 13.85% 5.99% 9.47% 15.27% INDUS /MUNI BLDG 51.69% 8.11% 0.79% 8.54% 34.25% PUB.ST.LIGHTS 0.60% 0.20% 0.08% 0.11% 0.21% PRV.ST.LIGHTS 0.19% 0.03% 0.00% 0.06% 0.10% CO -OP RESALE 0.54% 0.54% 0.00% 0.00% 0.00% SCHOOL 2.40% 0.78% 0.49% 0.49% 0.64% TOTAL 100.00% 23.51% 7.35% 18.67% 50.47% THIS YEAR TO DATE RESIDENTIAL 44.09% 13.78% 6.30% 10.03% 13.98% INDUS /MUNI BLDG 52.55% 7.46% 0.75% 8.53% 35.81% PUB.ST.LIGHTS 0.62% 0.21% 0.08% 0.11% 0.22% PRV.ST.LIGHTS 0.20% 0.03% 0.00% 0.06% 0.11% CO -OP RESALE 0.52% 0.52% 0.00% 0.00% 0.00% SCHOOL 2.02% 0.69% 0.42% 0.34% 0.57% TOTAL 100.00% 22.69% 7.55% 19.07% 50.69% LAST YEAR TO DATE RESIDENTIAL 42.64% 13.52% 6.03% 9.93% 13.16% INDUS /MUNI BLDG 54.41% 7.49% 0.13% 0.74% 0.05% 8.83% 0.07% 37.35% 0.15% PUB.ST.LIGHTS 0.40% PRV.ST.LIGHTS 0.08% 0.01% 0.00% 0.03% 0.04% CO -OP RESALE 0.50% 0.50% 0.00% 0.00% 0.00% SCHOOL 1.93% 0.69% 0.43% 0.25% 0.56% TOTAL 99.96% 22.34% 7.25% 19.11% 51.26% (11A) TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT BUDGETED REVENUE VARIANCE REPORT 2/28/2015 SCHEDULE F * ( ) = ACTUAL UNDER BUDGET (11B) ACTUAL BUDGET % YEAR TO DATE YEAR TO DATE VARIANCE * CHANGE SALES OF ELECTRICITY: RESIDENTIAL 8,012,110.57 7,885,268.00 126,842.57 1.61% COMM AND INDUSTRIAL SALES PRIVATE STREET LIGHTING 6,308,581.42 6,554,048.00 (245,466.58) -3.75% MUNICIPAL BUILDINGS PUBLIC STREET LIGHTING 166,094.40 234,818.00 (68,723.60) - 29.27% SALES FOR RESALE 81,417.01 92,010.00 (10,592.99) - 11.51% SCHOOL 270,568.59 261,746.00 8,822.59 3.37% TOTAL BASE SALES 14,838,771.99 15,027,890.00 (189,118.01) -1.26% TOTAL FUEL SALES 23,799,690.04 25,341,579.00 (1,541,888.96) -6.08% TOTAL OPERATING REVENUE 38,638,462.03 40,369,469.00 (1,731,006.97) -4.29% FORFEITED DISCOUNTS 534,751.53 764,147.00 (229,395.47) - 30.02% PURCHASED POWER CAPACITY 20,273,384.40 19,968,813.00 304,571.40 100.00% ENERGY CONSERVATION - RESIDENTIAL 178,970.95 181,516.00 (2,545.05) -1.40% ENERGY CONSERVATION - COMMERCIAL 287,161.68 293,933.00 (6,771.32) -2.30% NYPA CREDIT (597,415.15) (466,664.00) (130,751.15) 28.02% TOTAL OPERATING REVENUES 59,315,315.44 61,111,214.00 (1,795,g_ .56 -2.94% * ( ) = ACTUAL UNDER BUDGET (11B) TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT SCHEDULE OF OPERATING EXPENSES 2/28/2015 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 & 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 TOTAL OPERATION EXPENSES MAINTENANCE 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 46,209.98 MONTH MONTH LAST YEAR CURRENT YEAR YTD % OPERATION EXPENSES: LAST YEAR CURRENT YEAR TO DATE TO DATE CHANGE PURCHASED POWER CAPACITY 1,473,369.05 1,491,533.27 11,709,891.41 11,362,115.95 -2.97% PURCHASED POWER TRANSMISSION 916,482.17 944,966.16 7,802,627.71 8,210,139.06 5.22% TOTAL PURCHASED POWER 2,389,851.22 2,436,499.43 19,512,519.12 19,572,255.01 0.31% 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 TOTAL OPERATION EXPENSES MAINTENANCE 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 46,209.98 40,444.31 344,265.92 349,808.37 1.61% 12,831.92 12,973.70 77,369.92 106,634.80 37.82% 62,084.32 81,500.02 547,869.25 574,064.10 4.78% 42,395.79 42,315.07 331,879.54 343,014.27 3.36% 7,655.51 5,382.73 51,164.90 59,993.39 17.25% 21,447.70 21,736.06 145,615.30 132,542.92 -8.98% 37,601.71 44,208.59 244,390.13 303,924.18 24.36% 468.77 1,495.61 17,211.13 12,069.73 - 29.87% 131,694.53 129,043.31 1,006,441.83 1,181,006.22 17.34% 10,500.00 10,000.00 84,000.00 80,000.00 -4.76% 40,883.73 35,929.48 253,413.53 273,151.77 7.79% 84,251.74 59,182.14 579,264.96 546,545.28 - 5.65% 22,494.01 28,332.82 184,384.93 202,778.65 9.98% 25,795.03 29,298.50 286,042.03 268,542.32 -6.12% 29,863.75 31,242.39 230,978.01 241,495.31 4.55% 5,304.69 3,023.31 27,946.73 29,094.03 4.11% 168,775.37 250,015.06 1,464,589.60 2,008,000.58 37.10% 7,713.51 5,712.20 116,717.09 105,027.62 - 10.02% 25,304.37 13,912.38 135,574.14 112,029.81 - 17.37% 71,823.32 16,886.03 364,622.90 356,565.47 -2.21% 855 099.75 862 633.71 6,493,741.84 7 286 288.82 12.20% 227.08 227.08 1,816.66 1,816.66 0.00% 14,077.36 32,153.33 119,371.46 364,404.76 205.27% 130,004.59 115,189.89 1,071,453.57 1,154,938.12 7.79% 15,393.33 35,995.52 135,827.83 113,475.34 - 16.46% 0.00 1,256.20 87,218.31 61,321.32 0.00% (46.17) (13.84) (404.44) (106.38) - 73.70% 57,957.19 126,174.51 377,768.21 397,974.36 5.35% 0.00 0.00 11,288.34 0.00 - 100.00% 13,562.74 9,848.10 96,174.78 147,853.97 53.73% 231,176.12 320,830.79 1,900,514.72 2,241,678.15 17.95% 314,969.55 321,788.79 2,519,756.40 2,574,310.32 2.17% 3,381,465.32 3,579,980.29 22,342,877.91 22,870,324.72 2.36% 116,666.67 118,000.00 931,850.34 934,754.00 0.31% 3.31% 53,701,260.33 55,479,611.02 7,639,733.01 7,289,228.63 (12) TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT BUDGETED OPERATING EXPENSE VARIANCE REPORT 2/28/2015 SCHEDULE G MAINTENANCE EXPENSES: MAINT OF TRANSMISSION PLANT ACTUAL BUDGET (183.34) % OPERATION EXPENSES: YEAR TO DATE YEAR TO DATE VARIANCE * CHANGE PURCHASED POWER CAPACITY 11,362,115.95 10,897,428.00 464,687.95 4.26% PURCHASED POWER TRANSMISSION 8,210,139.06 8,310,327.00 (100,187.94) -1.21% TOTAL PURCHASED POWER 19,572,255.01 19,207,755.00 364,500.01 1.90% MAINT OF ST LT & SIG SYSTEM (106.38) OPERATION SUP AND ENGINEERING EXP 349,808.37 383,148.00 (33,339.63) -8.70% STATION SUP LABOR AND MISC 106,634.80 70,492.00 36,142.80 51.27% LINE MISC LABOR AND EXPENSE 574,064.10 440,913.00 133,151.10 30.20% STATION LABOR AND EXPENSE 343,014.27 263,693.00 79,321.27 30.08% STREET LIGHTING EXPENSE 59,993.39 54,929.00 5,064.39 9,22% METER EXPENSE 132,542.92 157,349.00 (24,806.08) - 15.77% MISC DISTRIBUTION EXPENSE 303,924.18 266,540.00 37,384.18 14.03% METER READING LABOR & EXPENSE 12,069.73 20,351.00 (8,281.27) - 40.69% ACCT & COLL LABOR & EXPENSE 1,181,006.22 1,128,493.00 52,513.22 4.65% UNCOLLECTIBLE ACCOUNTS 80,000.00 80,000.00 0.00 0.00% ENERGY AUDIT EXPENSE 273,151.77 321,372.00 (48,220.23) - 15.00% ADMIN & GEN SALARIES 546,545.28 550,365.00 (3,819.72) -0.69% OFFICE SUPPLIES & EXPENSE 202,778.65 200,800.00 1,978.65 0.99% OUTSIDE SERVICES 268,542.32 246,080.00 22,462.32 9.13% PROPERTY INSURANCE 241,495.31 302,272.00 (60,776.69) - 20.11% INJURIES AND DAMAGES 29,094.03 32,904.00 (3,809.97) - 11.58% EMPLOYEES PENSIONS & BENEFITS 2,008,000.58 1,883,364.00 124,636.58 6.62% MISC GENERAL EXPENSE 105,027.62 194,771.00 (89,743.38) - 46.08% RENT EXPENSE 112,029.81 141,336.00 (29,306.19) - 20.74% ENERGY CONSERVATION 356,565.47 516,430.00 (159,864.53) - 30.96% TOTAL OPERATION EXPENSES 7,286,288.82 7,255,602.00 30,686.82 0,42% MAINTENANCE EXPENSES: MAINT OF TRANSMISSION PLANT 1,816.66 2,000.00 (183.34) -9,17% MAINT OF STRUCT AND EQUIPMENT 364,404.76 319,058.00 45,346.76 14.21% MAINT OF LINES - OH 1,154,938.12 1,106,769.00 48,169.12 4.35% MAINT OF LINES - UG 113,475.34 87,019.00 26,456.34 30.40% MAINT OF LINE TRANSFORMERS 61,321.32 117,000.00 (55,678.68) - 47.59% MAINT OF ST LT & SIG SYSTEM (106.38) 6,448.00 (6,554.38) - 101.65% MAINT OF GARAGE AND STOCKROOM 397,974.36 392,223.00 5,751.36 1.47% MAINT OF METERS 0.00 35,138.00 (35,138.00) - 100.00% MAINT OF GEN PLANT 147,853.97 113,302.00 34,551.97 30.50% TOTAL MAINTENANCE EXPENSES 2,241,678.15 2,178,957.00 62,721.15 2.88% DEPRECIATION EXPENSE 2,574,310.32 2,594,664.00 (20,353.68) -0.78% PURCHASED POWER FUEL EXPENSE 22,870,324.72 26,317,749.00 (3,447,424.28) - 13.10% VOLUNTARY PAYMENTS TO TOWNS 934,754.00 944,000.00 (9,246.00) -0.98% TOTAL OPERATING EXPENSES * ( ) = ACTUAL UNDER BUDGET 77, 41Y Ltb II - UL 58,498,727.00 (3,019,115.98) (12A) -5.16% TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT BUDGETED OPERATING EXPENSE VARIANCE REPORT 2/28/2015 (12B) 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 11,362,115.95 4,970,166.05 30.43% PURCHASED POWER TRANSMISSION JP 12,556,732.00 8,210,139.06 4,346,592.94 34.62% TOTAL PURCHASED POWER 28,889.014.00 19,572,255.01 9,316,758.99 32.25% OPERATION SUP AND ENGINEERING EXP Hi 583,668.00 349,808.37 233,859.63 40.07% STATION SUP LABOR AND MISC Hi 108,848.00 106,634.80 2,213.20 2.03% LINE MISC LABOR AND EXPENSE Hi 657,259.00 574,064.10 83,194.90 12.66% STATION LABOR AND EXPENSE Hi 398,849.00 343,014.27 55,834.73 14.00% STREET LIGHTING EXPENSE Hi 82,907.00 59,993.39 22,913.61 27.64% METER EXPENSE Hi 247,938.00 132,542.92 115,395.08 46.54% MISC DISTRIBUTION EXPENSE Hi 402,885.00 303,924.18 98,960.82 24.56% METER READING LABOR & EXPENSE Hi 30,922.00 12,069.73 18,852.27 60.97% ACCT & COLL LABOR & EXPENSE RF 1,705,333.00 1,181,006.22 524,326.78 30.75% UNCOLLECTIBLE ACCOUNTS RF 120,000.00 80,000.00 40,000.00 33.33% ENERGY AUDIT EXPENSE JP 488,284.00 273,151.77 215,132.23 44.06% ADMIN & GEN SALARIES CO 842,170.00 546,545.28 295,624.72 35.10% OFFICE SUPPLIES & EXPENSE CO 301,000.00 202,778.65 98,221.35 32.63% OUTSIDE SERVICES CO 351,650.00 268,542.32 83,107.68 23.63% PROPERTY INSURANCE Hi 453,200.00 241,495.31 211,704.69 46.71% INJURIES AND DAMAGES Hi 49,059.00 29,094.03 19,964.97 40.70% EMPLOYEES PENSIONS & BENEFITS Hi 2,746,619.00 2,008,000.58 738,618.42 26.89% MISC GENERAL EXPENSE CO 240,727.00 105,027.62 135,699.38 56.37% RENT EXPENSE Hi 212,000.00 112,029.81 99,970.19 47.16% ENERGY CONSERVATION JP 778,812.00 356,565.47 422,246.53 54.22% TOTAL OPERATION EXPENSES 10,802,130.00 7.286,288.82 3,515,841.18 32.55% MAINTENANCE EXPENSES: MAINT OF TRANSMISSION PLANT Hi 3,000.00 1,816.66 1,183.34 39.44% MAINT OF STRUCT AND EQUIPMT Hi 484,026.00 364,404.76 119,621.24 24.71% MAINT OF LINES - OH Hi 1,675,794.00 1,154,938.12 520,855.88 31.08% MAINT OF LINES - UG Hi 130,694.00 113,475.34 17,218.66 13.17% MAINT OF LINE TRANSFORMERS Hi 156,000.00 61,321.32 94,678.68 60.69% MAINT OF ST LT & SIG SYSTEM Hi Hi 9,745.00 567,531.00 (106.38) 397,974.36 9,851.38 169,556.64 101.09% 29.88% MAINT OF GARAGE AND STOCKROOM Hi 43,290.00 0.00 43,290.00 100.00% MAINT OF METERS RF 170,180.00 147,853.97 22,326.03 13.12% MAINT OF GEN PLANT TOTAL MAINTENANCE EXPENSES 3,240,260.00 2,241,678.15 998,581.85 30.82% DEPRECIATION EXPENSE RF 3,892,000.00 2,574,310.32 1,317,689.68 33.86% PURCHASED POWER FUEL EXPENSE JP 36,249,653.00 22,870,324.72 13,379,328.28 36.91% VOLUNTARY PAYMENTS TO TOWNS RF 1,416,000.00 934,754.00 481,246.00 33.99% TOTAL OPERATING EXPENSES 34.34% 29.009,445.98 55,479,611.02 84 489,057.00 (12B) TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT PROFESSIONAL SERVICES 02/28/2015 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 & 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 TOTAL DEPARTMENT ACTUAL BUDGET VARIANCE ACCOUNTING 35,221.34 35,000.00 221.34 INTEGRATED RESOURCES 98,923.60 92,200.00 6,723.60 E & 0 11,090.00 7,000.00 4,090.00 ENGINEERING 6,844.50 9,000.00 (2,155.50) GM 98,787.05 35,336.00 63,451.05 HR 17,675.83 42,664.00 (24,988.17) BLDG. MAINT. 0.00 6,880.00 (6,880.00) GEN. BENEFIT 0.00 181000.00 (18,000.00) 268,542.32 246,080.00 22 462.32 (13) ACTUAL 29,920.00 14,526.50 178,021.94 11,090.00 9,184.08 2,477.24 2,925.62 1,000.00 525.00 18,871.94 268,542.32 RMLD DEFERRED FUEL CASH RESERVE ANALYSIS 02/28/15 GROSS DATE CHARGES REVENUES NYPA CREDIT Jun -14 TOTAL DEFERRED DEFERRED Jul -14 3,287,589.94 3,782,699.41 (35,898.34) Aug -14 2,768,364.01 3,844,854.74 (47,884.92) Sep -14 2,358,565.60 2,758,999.30 (73,836.15) Oct -14 2,290,434.18 2,425,374.16 (74,545.03) Nov -14 2,374,999.11 2,418,013.33 (68,098.89) Dec -14 2,754,212.60 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) (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 RMLD BUDGET VARIANCE REPORT FOR PERIOD ENDING FEBRUARY 28, 2015 0 (15) DIVISION ACTUAL BUDGET VARIANCE CHANGE BUSINESS DIVISION 6,734,083 6,665,205 68,878 1.03% INTEGRATED RESOURCES AND PLANNING 728,641 930,003 (201,362) - 21.65% ENGINEERING AND OPERATIONS 3,439,175 3,230,485 208,690 6.46% FACILITY 3,162,340 3,152,482 9,858 0.31% GENERAL MANAGER 531,325 552,288 (20,963) -3.80% SUB -TOTAL 14,595,565 14,530,462 65,103 0.45% PURCHASED POWER CAPACITY 11,362,116 10,897,428 464,688 4.26% PURCHASED POWER TRANSMISSION 8,210,139 8,310,327 (100,188) -1.21% PURCHASED POWER FUEL 22,870,325 26,317,749 (3,447,424) - 13.10% TOTAL 57,038,144 60,055 966 13 017 822) -5.03% 0 (15) Reading Municipal Light Department RMLD 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 March 13, 2015 Town of Reading Municipal Light Board Subject: Walk -In Van On February 9, 2015 a bid invitation was placed in the Goods and Services Bulletin and on February 11, 2015 a bid invitation was placed as a legal notice in the Reading Chronicle, Middlesex East, requesting proposals for one Walk -In Van for the Reading Municipal Light Department. An invitation to bid was sent to the following seventeen companies: Bonnell Ford Fleet Electric Lannon Chevrolet Moore GMC Truck, Inc. Place Motors, Inc. Tri State Truck Center Boston Freightliner, Inc. Imperial Municipal Partners Liberty Chevrolet O'Connor Motor Company Sentry Ford Woburn Foreign Motors Central Dodge, Inc. Inter -State Ford Truck Sales, Inc. MHQ Municipal Vehicles Place Motors Stoneham Ford Bids were received from two companies: Boston Freightliner, Inc. and Tri State Truck Center. The bids were publicly opened and read aloud at 11:00 a.m. on March 4, 2015, in the Town of Reading Municipal Light Department's Audio Visual Spurr Room, 230 Ash Street, Reading, Massachusetts. The bids were reviewed, analyzed and evaluated by staff and recommended to the General Manager. Move that bid 2015 -19 for one Walk -In Van be awarded to: Boston Freightliner for $139,802.00 as the lowest, qualified and responsive bidder on the recommendation of the General Manager. The FY2015 Capital Budget amount for this item is $150,000.00. Coleen O'Brien Hamid Jaff a W,,J Paula O'Leary (7" Attachment 4 y C O_ N N m � } k W T m � m m co Q N 4) Y N O �Q 3 d) 3 M Q co N M o M �a m � °o °o +_ C cri o Pi o m O k m O # W O � EA h U� m U �m a ' U ml a IXI� C r- .,1C N � m ml O O N LO Q 00 cc OO N co 64 O O 0o O° 44 64 O O O O O0 00 co M cl r r Y9 Efl U C � U N C C N L O) U LL O) C O O U) m F`- o � o o s N o � m 3 m y O N C W O m CO O O O U O. O C (`6 .20 o� N C o E y N N cli •' C 3 m 'C LO w is d cc N y N � N > 4) O y m f9 V x O) L E O O U v N w O O C eo LL w ch c B 3 `0 co `m m ?: CD m L C p 'a d E c Y cts CO «v ;« m O) x f0 N W V f9 C w C O O m d w O O *= Y U cm C �S CL 'SO .CO.. 7 p M d Q� P O .0 C M d 0 T N m d C C C i .C. CF S c` g iv E N M f0 O N 7 Ex Cl E a� m C H E C d O) C C i 7 p c M X O d f0 C ` c w c W .0 a N O D O E 'D C J ` o E C ._ w p m e m cc # i E n w X N .T (0 C Q c C Y m r1 lA O N Jeanne Foti jv,or►rom: Jeanne Foti Sent: Thursday, March 19, 2015 9:27 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 February 20, February 27, March 6 and March 13. Payroll — No Questions February 23 and March 9. This e -mail will be printed for the Board Packet for the RMLD Board meeting on March 26, 2015. 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