Loading...
HomeMy WebLinkAbout2011-03-30 RMLD Board of Commissioners Minutes Reading Municipal Light Board of Commissioners Regular Session 230 Ash Street Reading,MA 01867 March 30,2011 Start Time of Regular Session: 7:30 p.m. End Time of Regular Session: 9:15 p.m. Attendees: Commissioners: Mary Ellen O'Neill,Chairman Philip B.Pacino,Secretary Gina Snyder,Commissioner Robert Soli,Commissioner Richard Hahn,Vice Chair-Absent Staff: Vinnie Cameron,General Manager Beth Ellen Antonio,Human Resources Manager Jared Carpenter,Energy Efficiency Engineer Jeanne Fob,Executive Assistant Robert Fournier,Accounting/Business Manager Jane Parenteau,Energy Services Manager Kevin Sullivan,E&O Manager Citizens'Advisory Board Anthony Capobianco,Member Thomas 011ila,Member Guest: David Talbot,Reading Town Meeting Member Chairman O'Neill called the meeting to order and stated that the meeting of the Reading Municipal Light Department (RMLD) Board of Commissioners is being broadcast live at the RMLD's office at 230 Ash Street, Reading, MA. Live "roadcasts are available only in Reading due to technology constraints. The meeting was video taped for distribution to the immunity television stations in North Reading,Wilmington and Lynnfield. Opening Remarks/Approval of Meeting Agenda Chairman O'Neill asked the Board members present if there were suggested changes or additions to the agenda. There were none. Introductions .Chairman O'Neill introduced Citizens' Advisory Board Member Tom 011ila who welcomed the new CAB representative from Reading,Tony Capobianco. Chairman O'Neill also introduced David Talbot,a Reading resident and town meeting representative from Precinct 5. Quarterly Conservation Program Update—Mr.Carpenter(Attachment 1) Chairman O'Neill stated that Jared Carpenter,Energy Efficiency Engineer,will be making his quarterly conservation energy efficiency update. Mr. Carpenter presented the Reading Municipal Light Department's Energy Conservation Program as of March 2011, that included such topics as current program updates, current projects, demand response, 230 Ash Street building and project review. Mr.Carpenter addressed the following: Current Programs Update Mr. Carpenter reported that over the last couple of weeks there has been a large increase in interest by customers relative to installing solar in their homes. Mr. Carpenter said that the solar projects include a 9.6 kW project which is underway with two solar projects completed since his last update with a.total of eight installations. Mr. Carpenter said that there may be a lot more growth than expected. Mr. Carpenter reported that there have been 230 residential audits performed: 64 in 2010, 108 in 2009, and 58 in 2008. Mr. Carpenter commented that the commercial customer audit interest is growing. March 30,2011 Quarterly Conservation Program Update—Mr.Carpenter(Attachment 1) Current Programs Update Mr. Carpenter mentioned the residential data collection cards that were mailed by the RMLD, noting that there has been an excellent response to these. Mr. Carpenter mentioned that the Net Present Value from energy conservation programs, the kilowatt hours avoided through 2027,translates into$6 million. Current Projects Mr. Carpenter reported that the current science program with students from North Reading High school includes a solar- powered bike that puts power back on the grid. Mr. Carpenter stated that the RMLD is in early discussions about a loan assistance program for its customers. Mr. Carpenter said that on the demand response program, the RMLD is looking to create tailor-made programs for residential,municipal,and commercial customer buildings. Mr. Carpenter reported that an evaluation done through the Energy Star Portfolio indicates that the RMLD building is not very efficient. Mr. Carpenter said that a goal of a 40%improvement in energy efficiency is attainable at a cost of$40,000 in the first year which would include 218 Ash Street and the building at 230 Ash Street. Mr. Cameron said that Mr. Carpenter has brought these energy efficiency measures to him and is committed within the next year to improve the energy efficiency of the building. Mr.Carpenter showed a chiller project that came to Tuition after a year and a half of effort. Discussion followed. Mr. Talbot expressed his concern about the incentives in the current system to increase electricity sales. He also expressed his interest in reducing the number of electric hot water heaters in the service area and recommended that the RMLD develop a program to encourage customers to switch preferably to solar hot water heaters. Chairman O'Neill thanked Mr.Carpenter for his presentation. Report from Board Committee—Commissioner Soli Policy Committee Mr. Soli reported that Policy Committee met on Monday, March 28 with all three members present. Mr. Soli commented that the committee worked hard on the draft of a new policy for credit card use and petty cash at the RMLD. The committee voted 3:0:0 to recommend this policy to the Board. Mr. Soli said that the policy is not here this evening, but will be presented in the future. Approval of February 23,2011 Board Minutes Ms. Snyder made a motion seconded by Mr. Soli to accept the Regular Session meeting minutes of February 23, 2011 as presented. Motion carried 3:0:1. Mr.Pacino abstained. General Manager's Report—Mr.Cameron Mr.Cameron reported on the following: 2010 Department of Public Utilities Report Mr.Cameron said that the annual DPU report is ready for signing by the commissioners before Executive Session. Ms.Foti will notarize the signatures. Mr.Cameron stated that Vice Chair Hahn has already signed the DPU Report. RMLD Fiscal Year 2012 Capital and Operating Budget The RMLD will have the draft fiscal year 2012 Capital and Operating Budgets ready on Thursday,March 31. Time of Use Rates The Industrial and Residential Time of Use rates will be filed on Friday,April 1 and this will begin the thirty day comment period. Educational Opportunity for High School Students The RMLD along with North Reading resident Scott Jenney are looking for two or three high school students who are interested in working on an energy project. ', March 30,2011 General Manager's Report—Mr.Cameron Earth Day Bike Swap Reading Cities for Climate Protection Committee will hold its annual bike swap at the RMLD on Friday April 8,from 8> -i to noon and on Saturday,April 9, 8 am to 3:30 pm. Residential Customer Survey The residential customer survey was conducted in February. The survey results can be presented at the next RMLD Board meeting by Michael Vigeant from the Center for Research. Friends and Family Day The RMLD will participate in Friends and Family Day on Saturday,June 18 in Reading. Report on American Public Power(APPA)Legislative Rally Mr. Cameron prepared a memo on the APPA Legislative Rally which the Board has received, but there is additional information from the rally that is on the General Manager's Conference Room table. NEPPA Annual Conference August 21-24 Samoset Resort,Rockland,Maine Mr. Cameron reported that the annual NEPPA Conference is being held August 21 to August 24 at the Samoset Resort in Maine. Mr. Cameron encourages everyone to book a hotel room. Mr. Cameron said that he,along with interested Board and CAB members,will need approval to attend.This can be done at the next Board meeting. Financial Report—February,2011—Mr.Fournier(Attachment 2) Mr.Fournier reported on the Financial Report for February 2011 which represents the first eight months for fiscal year 2011. Mr.Fournier reported Net Income for February was$241,000 decreasing year-to-date Net Income to $2.2 million. The year to date budgeted Net Income is $1.3 million which is over budget by $923,000 or 70%. Mr. Fournier said that the year to date Fuel Revenue exceeded Fuel Expenses by$146,000. The energy conservation expenses exceeded energy conservation revenues by$34,000. The Gaw soil remediation is at$1.2 million this fiscal year bringing the total cost to$2.4 million. r. Fournier noted that the Base Revenues are over budget by$3 million or 11%. Actual Base Revenues were$31 million compared to the budgeted amount of$28 million. Purchased Power Base costs were under budget by$12,000 with both the Purchased Power Base and Budgeted at$18.6 million. Mr.Fournier said that the Operating and Maintenance expenses were over budget by$500,000 or 6%. Actual O&M expenses were$8.6 million compared to the budgeted amount of$8.1 million. The Depreciation Expense and Voluntary Payments to the Towns are on budget. Cumulatively, all five divisions were over budget by$463,000 or 3.6%with most of this attributable to the Gaw soil remediation expense. Discussion followed. Mr.Pacino said that he would like to see a report on the Pension Trust at the next Board meeting. Power Supply Report—February,2011—Ms.Parenteau(Attachment 3) Ms. Parenteau reported on the Power Supply Report for February 2011. Ms. Parenteau reported that RMLD's load for February was 55.3 million kilowatt hours which was a 2.8%increase compared to February 2010. Energy costs were$2.983 million which is equivalent to$.054 per kilowatt hour. RMLD sales totaled approximately 56.3 million kilowatt hours and as a result,the RMLD overcollected by$77,000 resulting in a Deferred Fuel Cash Reserve balance of$2.472 million. In February and March, the Fuel Charge Adjustment was $.056 per kilowatt hour and in April will decrease by $.003 to $.0535 per kilowatt hour. Ms. Parenteau reported that the RMLD purchased approximately 18% of its energy requirement from the ISO Spot Market with the average cost of$51.47 per megawatt hour. The RMLD hit a demand of 108 megawatts on February 1,2011 at 7:00 p.m. at 17 degrees compared to the peak of 104 megawatts which occurred in February 10, 2010 at 7:00 p.m. at 32 degrees. Ms. Parenteau pointed out that 2011 was considerably colder than 2010. In 2010, the heating days were 931, with the norm being 1,037; in 2011 it is up by 39 days. The RMLD's monthly capacity requirement was 205.111 megawatts. The RMLD id$1.516 million for capacity which is equivalent to$7.39 per kilowatt month. Ms.Parenteau reported that on the transmission side the costs were$744,000 which was up 14%from January. March 30,2011 Power Supply Report—February,2011—Ms.Parenteau(Attachment 3) Ms. Parenteau said that the RMLD was able to finalize the Swift River contract. The RMLD is receiving output from Pepperell Hydro, Woronoco and Turners Falls, these contracts were effective in March. Ms. Parenteau reported that on T March 22 some staff members went to the Pepperell site. Ms.Parenteau said that they are hoping to set up an open house for sometime in May with the staff,RMLD Board members,the Citizens' Advisory Board and citizens to visit Pepperell Hydro. Engineering and Operations Report—February,2011-Mr.Sullivan(Attachment 4) Gaw Update Mr. Sullivan reported on the Engineering and Operations Report for February 2011, Mr. Sullivan said that the only change to the Gaw update schedule is the transfer scheme which represents 1-1.5 weeks of work. Mr. Sullivan reported for the month they are up $2,200 with the project at$6.843 million, with the anticipated final project cost at $7 million. The soil remediation paid and unpaid invoices total $2.446 million, up $8,000 from the prior month due to reporting requirements. The soil remediation is in the reporting phase with two reports to the Massachusetts DEP, both the RAMSI (Release Abatement Measures and Completion) and RAO (Response Action Outcome) that are necessary to complete the project. Mr. Sullivan said that in the variance report there are eight projects completed and there may be one project at the end of the year that will be carried over. Mr. Sullivan commented on the following projects worked on during the month: Project 1, 4W14 Reconductoring—West Street Project - work has begun;Project 4, Boutwell Street — completed; Project 5, Chestnut Street — work has begun; Project 11, Transformer Replacement— almost completed; Project 36, 3W8 Salem Street & Baystate Road - in process; Project 37, Elm Street—completed and Project 38, 115kV Insulator Project—in process. Mr. Sullivan said that on the service installations on the residential side there were approximately 20 to 25 services and on the commercial side there were three services. In routine construction there were 35 cutouts replaced making a total of 300 for fiscal year 2011. Mr. Sullivan reported on the Reliability Report which was a great month for reliability. The Customer Average Interruption Duration Index (CAIDI) dropped significantly; with the average outage being 47 minutes, due to outages being resolved quickly. The CAIDI rolling average is down by three minutes. The System Average Interruption Frequency Index(SAIFI), the rolling average, decreased to 1.56. The Months between Interruptions (MBTI) is 24 months from 19 months for customers on the system. Mr. Sullivan provided an update on the reliability statistics number that included wind and snow:number of calls 124,outage incidents 13,customers affected 262,feeder outages 0,area outages 7,and service outages 6. Mr. Sullivan reported that on the meter project upgrade project 2,600 meter have been installed with 5,000 being installed by the end of the fiscal year. Mr. Sullivan said that the apartment buildings have been completed and they are working on residences in Reading. Mr. Pacino said that there were no complaints relative to the meter installations at 5 Washington Street,Reading where the installations went very smoothly. Discussion followed. General Discussion Chairman O'Neill stated that at the next RMLD Board meeting on April 27 new officers and Committee members will be selected. She asked Board members to think about which committees they might like to serve on in the upcoming year in anticipation of the new assignments in April. Mr. Cameron noted that a listing of current committee assignments will be in the April Board books. Chairman O'Neill said that on the Budget Committee everyone has attended in the past, and the Budget Committee will endeavor to meet jointly with the Citizens' Advisory Board the week of April 11. Mr. Cameron added that in order to be in conformance with the Twenty Year Agreement one of the two Citizens' Advisory Board meetings must be held outside of Reading. Chairman O'Neill commented that there needs to be a Power & Rate Committee meeting next month to look at the new proposed streetlight rate. There also needs to be a Policy Committee meeting prior to the April Board meeting. March 30,2011 Rate Comparisons,March,2011 Mr. Soli said that the RMLD small commercial rate is 7.4%higher than the other small commercial rates in the comparisons. ?r. Cameron said that the RMLD does not have a small commercial rate. Mr. Cameron commented that the only other rate the whole chart lower than the RMLD's is Peabody's residential rate at.2%. Mr. Cameron said that the Small Commercial Customer rate differential has to do with the load factor. Discussion followed. E-Mail responses to Account Payable/Payroll Questions Upcoming Meetings RMLD Board Meetings Wednesday,April 27,2011 and Wednesday,May 25,2011 Executive Session At 8:55 p.m. Mr. Pacino made a motion seconded by Ms. Snyder that the Board go into Executive Session to approve the Executive Session meeting minutes of February 23, 2011 to discuss strategy with respect to Chapter 164 Section 47D, exemption from public records, release of 2010 Executive Session minutes and to return to Regular Session to approve the 2010 Executive Session minutes and subsequent adjournment. Motion carried 4:0:0. Mr.Pacino Aye;Chairman O'Neill,Aye;Ms. Snyder,Aye;and Mr. Soli;Aye. Release of 2010 Executive Session Minutes Mr. Pacino made a motion seconded by Ms. Snyder that the following Executive Session meeting minutes be released: January 27, 2010, February 24, 2010, March 31, 2010, April 28, 2010, May 26, 2010, June 30, 2010, September 29, 2010, October 27,2010,and December 1,2010. `otion carried 4:0:0. Adjournment At 9:15 p.m.Mr.Pacino made a motion seconded by Ms. Snyder 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 RMLD Board of Commissioners Z W U a k a t4 ct Ct ¢I ct ct CIA I'1 O cz c w u 04 N U O • 03 3 0 0 U U (� N a c M • r-1 O zoq � O 4) � 00 ct ctct ct �, �.... ct OC 4) M .� o U Ct � U � H U .0 Q� ct Q O U O ct ct ct cn � N N U •� ct Cld ct 4-jQ N •-cd kn M a� 'T o ct U N b.A ►� O U N � v1 �/ CC3 O �-+ crs bQ . Cf) ct 03 ct ct ct •� 0o C ct� ct rj., an U q-4 ct 41 cc3 a � V� ct W U FSI ° O c� � � O ct ct PLO N N •�' ci 0 W rllzi a •+-ob Ct CA M pooi CE bi) Cti'3 WQ > U ''-.+ N ct � ��' " � o o .to ;r U) C13 C) oo O. I>D. C:) 0 C4' a) (j) U) CL Lo cl) N 0 M U 0 ct CL cd U) C) CD C) C) C) 4= 0 (=> CD C> C) C) C� U "94" C> LO C) C> ct 00 CN LO r co U) cn Cid 00 C,4 Co r-- clq tG 00 CO — m C) Le) C�3 CO C%J C114 W) cis O ct 0 E!? en" <-, K3 Z' vn,,1 6A LO CO) rl- CY) co m < cy) � U-) 000 Lc) cy') cl� L6 Cf) C4 03 U) U- CD- > E Eios cc >11 cncn 0 CC, — 0 U) cc O C–D ca cn < Cc,-) G1 S42 C) 04 -I.- E 0 0 0 0 CL M C) 0(.) _) (J=1 11 ---------- cc3 U > M U 00 O cc3 �., r---1 O I- O O �J W u, y m iH p i small ism „ o »«wf„ 172312 o ««»fin 41 „ „ o "Is 1WROIJa «»wl„ q m ii s Basi~ se»»a »ws 8 —ago 1.i « a «»rwli„ o ME ps s� „ � e �� FIs ge'21a «wSli„ " cool- " " 1 « SEBIR `$ I o>x - w ? »»hi„ Va2g l"= o ««.�,��$ die s S $ o �2 R " N o "12 o «ws $ a"In 41 1 u $lIm 8=m»$r $$m C6r a S a « &h g vo i m e I � " s '""Is "» l„ ""u^ a1= aIm 41 _ " " « R ""Is a I Ji - ¢ �- ATTACHMENT 2 Dt: March 23, 2011 To: RMLB, Vincent F. Cameron, Jr., Jeanne Foti Fr: Bob Fournier j1a Y�f �f Sj: Financial Report February 28, 2011 The results for the first eight months ending February 28, 2011, for the fiscal year 2011 will be summarized in the following paragraphs. 1) Change in Net Assets or Net Income: (Page 3A) For the month of February, the net income or the positive change in net assets was $241,666, increasing the year to date net income to $2,235,903. The year to date budgeted net income was $1,312,344 the difference being$923,558, or 70.4%. Year to date fuel revenues exceeded fuel expenses by $146,265. Year to date energy conservation expenses exceeded energy conservation revenues by $34,250. Year to date GAW soil remediation expenses totalled $1,256,863, bringing the total cost to date for this project to $2,353,294. 2)Revenues: (Page 11B) Year to date base revenues were over budget by$3,064,521 or 10.94 %. Actual base revenues were $31.0 million compared to the budgeted amount of$28.0 million. 3) Expenses: (Page 12A) *Year to date purchased power base expense was under budget by$12,152 or .07%. Actual purchased power base costs were$18.6 million compared to the budgeted amount of$18.6 million. *Year to date operating and maintenance (O&M) expenses combined were over budget by$499,202 or 6.18%. Actual O&M expenses were $8.6 million compared to the budgeted amount of$8.1 million. The major expenses that were over budget were maintenance of line transformers ($643,054) and employee benefits ($220,012). *Depreciation expense and voluntary payments to the Towns were on budget. 4) Cash: (Page 9) *Operating Fund balance was at$7,222,949. *Capital Funds balance was at$4,676,350. *Rate Stabilization Fund balance was at$5,382,087. *Deferred Fuel Fund balance was at$2,472,376. *Energy Conservation balance was at $274,631. 5) General Information: Year to date kwh sales (Page 5) were 4.99%, or 23.3 million kwh ahead of last year's figure. GAW revenues to date are $350,869. 6) Budget Variance: Cumulatively, the five divisions were over budget by $463,807 or 3.64 %. FINANCIAL REPORT FEBRUARY 28, 2011 ISSUE DATE: MARCH 24, 2011 TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT BUSINESS-TYPE PROPRIETARY FUND STATEMENT OF NET ASSETS 2/28/11 PREVIOUS YEAR CURRENT YEAR ASSETS CURRENT UNRESTRICTED CASH (SCH A P.9) 6,406,103.01 7,225,949.28 RESTRICTED CASH (SCH A P.9) 14,469,172.69 15,894,798.57 RESTRICTED INVESTMENTS (SCH A P.9) 4,400,000.00 2,200,000.00 RECEIVABLES, NET (SCH B P.10) 9,402,416.09 8,660,820.16 PREPAID EXPENSES (SCA B P.10) 2,103,619.26 1,777,303.90 INVENTORY 1,415,580.57 1,656,277.91 TOTAL CURRENT ASSETS 38,196,891.62 37,415,149.82 NONCURRENT INVESTMENT IN ASSOCIATED CO (SCH C P.2) 108,967.43 88,151.26 CAPITAL ASSETS, NET (SCH C P.2) 65,673,905.48 67,514,565.76 TOTAL NONCURRENT ASSETS 65,782,872.91 67,602,717.02 TOTAL ASSETS 103,979,764.53 105,017,866.84 LIABILITIES CURRENT ACCOUNTS PAYABLE 8,540,272.53 6,964,736.44 CUSTOMER DEPOSITS 491,712.86 516,980.20 CUSTOMER ADVANCES FOR CONSTRUCTION 590,040.02 330,793.90 ACCRUED LIABILITIES 1,133,584.35 1,129,555.98 TOTAL CURRENT LIABILITIES 10,755,609.76 8,942,066.52 NONCURRENT ACCRUED EMPLOYEE COMPENSATED ABSENCES 2,873,114.33 3,020,032.75 TOTAL NONCURRENT LIABILITIES 2,873,114.33 3,020,032.75 TOTAL LIABILITIES 13,628,724.09 11,962,099.27 NET ASSETS INVESTED IN CAPITAL ASSETS, NET OF RELATED DEBT 65,673,905.48 67,514,565.76 RESTRICTED FOR DEPRECIATION FUND (P.9) 5,444,492.83 4,676,350.65 UNRESTRICTED 19,232,642.13 20,864,851.16 TOTAL NET ASSETS (P.3) 90,351,040.44 93,055,767.57 TOTAL LIABILITIES AND NET ASSETS 103,979,764.53 105,017,866.84 ti) TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT NONCURRENT ASSET SCHEDULE 2/28/11 SCHEDULE C PREVIOUS YEAR CURRENT YEAR SCHEDULE OF INVESTMENTS IN ASSOCIATED COMPANIES NEW ENGLAND HYDRO ELECTRIC 41,937.50 23,538.60 NEW ENGLAND HYDRO TRANSMISSION 67,029.93 64,612.66 TOTAL INVESTMENTS IN ASSOCIATED COMPANIES 108,967.43 88,151.26 SCHEDULE OF.CAPITAL ASSETS LAND 1,265,842.23 1,265,842.23 STRUCTURES AND IMPROVEMENTS 6,997,417.80 6,885,376.77 EQUIPMENT AND FURNISHINGS 12,983,462.83 13,169,755.23 INFRASTRUCTURE 44,427,182.62 46,193,591.53 TOTAL UTILITY PLANT 65,673,905.48 67,514,565.76 TOTAL NONCURRENT ASSETS 65,782,872.91 67,602,717.02 (2) TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT BUSINESS-TYPE PROPRIETARY FUND STATEMENT OF REVENUES, EXPENSES AND CHANGES IN FUND NET ASSETS 2/28/11 MONTH MONTH LAST YEAR CURRENT YEAR YTD OPERATING REVENUES: (SCH D P.11) LAST YEAR CURRENT YEAR TO DATE TO DATE CHANGE . BASE REVENUE 3,068,196.35 3,759,654.33 26,618,605.23 31,084,574.87 16.78% FUEL REVENUE 3,510,280.41 3,153,393.61 30,261,119.30 28,301,328.01 -6.48% PURCHASED POWER CAPACITY 298,270.62 42,237.55 2,572,058.90 1,198,798.38 -53.39% FORFEITED DISCOUNTS 70,516.67 83,788.41 580,351.48 697,455.41 20.18% ENERGY CONSERVATION REVENUE 42,204.30 38,785.14 374,836.84 349,934.25 GAW REVENUE 0.00 56,324.44 0.00 350,869.55 -6.64% 100.00% PASNY CREDIT (80,545.44) _ (92,678.30) (313,633.84) (520,068.72) 65.82% TOTAL OPERATING REVENUES 6,908,922.91 7,041,505.18 60,093,337.91 61,462,891.75 2.28% OPERATING EXPENSES: (SCH E P.12) PURCHASED POWER BASE 2,066,054.50 2,263,102.35 18,514,414.16 18,651,819.58 0.74% PURCHASED POWER FUEL 3,106,761.88 2,983,759.61 28,068,747.42 27,634,995.12 OPERATING 657,480.05 703,748.92 5,625,284.59 5,653,783.60 0.51% MAINTENANCE 207,048.90 278,177.50 1,920,464.37 2,918,088.51 51.95% DEPRECIATION 280,105.78 287,729.05 2,240,846.24 2,301,832.40 VOLUNTARY PAYMENTS TO TOWNS 104 2.72% 500.00 110,000.00 835,746.00 875,885.00 4.80% TOTAL OPERATING EXPENSES 6,421,951.11 6,626,517.43 57,205,502.78 58,036,404.21 1.45% OPERATING INCOME 486,971.80 414,987.75 2,887,835.13 3,426,487.54 18.65% N ?ERATING REVENUES (EXPENSES) ONTRIBUTIONS IN AID OF CONST 135,000.00 200.00 556,240.71 35,087.42 - -93.69% RETURN ON INVESTMENT TO READING (182,222.50) (180,990.00) (1,457,780.00) (1,447,920.00) -0.68% INTEREST INCOME" 2,631.18 2,969.32 138,649.76 70,036.05 -49.49% INTEREST EXPENSE (1,250.82) (1,001.20) (15,796.40) (10,295.20) -34,83% OTHER (MI)SE AND AMORT) 84,290.16 5,500.88 202,175.12 162,507.15 -19.62% TOTAL NONOPERATING REV (EXP) 38,448.02 (1731321.00) (576,510.81) (1,190,584.58) 106.52% CHANGE IN NET ASSETS 525,419.82 241,666.75 2,311,324.32 2,235,902.96 -3.26% NET ASSETS AT BEGINNING OF YEAR 88,039,716.12 90,819,864.61 3.159,. NET ASSETS AT END OF FEBRUARY _ 90,351,040.44 93,055,767.57 - 2,991 i (3) TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT BUSINESS-TYPE PROPRIETARY FUND STATEMENT OF REVENUES, EXPENSES AND CHANGES IN FUND NET ASSETS 2/28/11 ACTUAL BUDGET % YEAR TO DATE YEAR TO DATE VARIANCE* CHANGE OPERATING REVENUES: (SCH F P.11B) BASE REVENUE 31,084,574.87 28,020,054.00 3,064,520.87 10.94% FUEL REVENUE 28,301,328.01 27,934,076.00 367,252.01 1.31% PURCHASED POWER CAPACITY 1,198,798.38 3,732,183.00 (2,533,384.62) -67.88% FORFEITED DISCOUNTS 697,455.41 616,441.00 81,014.41 13.14% ENERGY CONSERVATION REVENUE 349,934.25 369,688.00 (19,753.75) -5.34% GAW REVENUE 350,869.55 180,000.00 170,869.55 94.93% PASNY CREDIT (520,068.72) (400,000.00) (120,068.72) 30.02% TOTAL OPERATING REVENUES 61,462,891.75 60,452,442.00 1,010,449.75 1.67% OPERATING EXPENSES: (SCH G P.12A) PURCHASED POWER BASE 18,651,819.58 18,663,972.00 (12,152.42) -0.07% PURCHASED POWER FUEL 27,634,995.12 28,412,120.00 (777,124.88) -2.74% OPERATING 5,653,783.60 5,806,082.00 (152,298.40) -2.62% 14AINTENANCE 2,918,088.51 2,266,588.00 651,500.51 28.74% DEPRECIATION 2,301,832.40 2,333,336.00 (31,503.60) -1.35% VOLUNTARY PAYMENTS TO TOWNS 875,885.00 880,000.00 (4,115.00) -0.47% TOTAL OPERATING EXPENSES 58,036,404.21 58,362,098.00 (325,693.79) -0.56% OPERATING INCOME 3,426,487.54 2,090,3444.00 1,336,143.54 63.92% NONOPERATING REVENUES (EXPENSES) CONTRIBUTIONS IN AID OF CONST 35,087.42 300,000.00 (264,912.58) -88.30% RETURN ON INVESTMENT TO READING (1,447,920.00) (1,450,000.00) 2,080.00 -0.14% INTEREST INCOME 70,036.05 300,000.00 (229,963.95) -76.65% INTEREST EXPENSE (10,295.20) (81000.00) (2,295.20) 28.69% OTHER (MDSE AND AMORT) 162,507.15 80,000.00 82,507.15 103.13% TOTAL NONOPERATING REV (EXP) (1,190,584.58) (778,000.00) (412,584.58) 53.03% CHANGE IN NET ASSETS 2,235,902-.96 1,312,344.00 923,558.96 70.37% NET ASSETS AT BEGINNING OF YEAR 90,819,864.61 88,039,716.12 2,780,148.49 3.16% NET ASSETS AT END OF FEBRUARY 93,055,767.57 89,352,060.12 3,703,707.45 4.15% * ( ) = ACTUAL UNDER BUDGET (3A) TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT RECONCILIATION OF CAPITAL FUNDS 2/28/11 SOURCE OF CAPITAL FUNDS: DEPRECIATION FUND BALANCE 7/1/10 4,801,693.77 CONSTRUCTION FUND BALANCE 7/1/10 0.00 INTEREST ON DEPRECIATION FUND FY 11 10,637.48 DEPRECIATION TRANSFER FY 11 2,301,832.40 FORCED ACCOUNTS REIMBURSEMENT 0.00 GAW SUBSTATION FY 11 497,085.00 TOTAL SOURCE OF CAPITAL FUNDS 7,611,248.65 USE OF CAPITAL FUNDS: PAID ADDITIONS TO PLANT THRU FEBRUARY 2,437,813.00 PAID ADDITIONS TO GAW THRU FEBRUARY 497,085.00 TOTAL USE OF CAPITAL FUNDS 2,934,898.00 GENERAL LEDGER CAPITAL FUNDS BALANCE 2/28/11 4,676,350.65 PAID ADDITIONS TO GAW FROM FY 11 497,085.00 PAID ADDITIONS TO GAW FROM FY 10 1,372,876.00 PAID ADDITIONS TO GAW FROM FY 09 3,136,764.00 PAID ADDITIONS TO GAW FROM FY O8 1,895,975.00 TOTAL 6,902,700.00 (4) TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT SALES OF KILOWATT HOURS 2/28/11 MONTH MONTH LAST YEAR CURRENT YEAR YTD SALES OF ELECTRICITY: LAST YEAR CURRENT YEAR TO DATE TO DATE CHANGE RESIDENTIAL SALES 19,477,475 21,553,664 171,190,653 185,141,202 8.15% COMM. AND INDUSTRIAL SALES 30,539,925 31,894,561 275,082,772 284,367,823 3.38% PRIVATE STREET LIGHTING 71,050 72,796 568,133 575,725 1.34% TOTAL PRIVATE CONSUMERS 50,088,450 53,521,021 446,841,558 470,084,750 5.20% MUNICIPAL SALES: STREET LIGHTING 237,395 239,009 1,898,162 1,910,596 0.66% MUNICIPAL BUILDINGS 848,165 917,228 6,744,443 6,752,709 0.12% TOTAL MUNICIPAL CONSUMERS 1,085,560 1,156,237 8,642,605 8,663,305 0.24% SALES FOR RESALE 273,748 299,087 2,245,501 2,423,871 7.94% SCHOOL 1,347,411 1,334,900 9,707,642 9,570,800 -1.41% TOTAL KILOWATT HOURS SOLD 52,795,169 56,311,245 467,437,306 490,742,726 4.99% (5) TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT.DEPARTMENT KILOWATT HOURS SOLD BY TOWN 2/28/11 MONTH TOTAL READING LYNNFIELD NO.READING WILMINGTON RESIDENTIAL 21,553,664 6,782,077 3,227,570 4,954,004 6,590,013 COMM & IND 31,894,561 4,252,831 291,886 4,748,219 22,601,625 PVT ST LIGHTS 72,796 14,039 1,360 21,480 35,917 PUB ST LIGHTS 239,009 80,436 32,437 39,837 86,299 MUNI BLDGS 917,228 293,959 152,977 160,763 309,529 SALES/RESALE 299,087 299,087 0 0 0 SCHOOL 1,334,900 475,103 285,593 171,640 402,564 TOTAL 56,311,245 12,197,532 3,991,823 10,095,943 30,025,947 YEAR TO DATE RESIDENTIAL 185,141,202 57,919,838 26,593,942 43,062,148 57,565,274 COMM & IND 284,367,823 35,399,357 2,309,891 42,877,297 203,781,278 PVT ST LIGHTS 575,725 111,928 10,880 170,402 282,515 PUB ST LIGHTS 1,910,596 643,488 259,648 317,656 689,804 MUNI BLDGS 6,752,709 1,795,994 1,165,679 1,367,202 2,423,834 SALES/RESALE 2,423,871 2,423,871 0 0 0 SCHOOL 9,570,800 3,403,248 2,033,723 1,245,000 2,888,829 TOTAL 490,742,726 101,697,724 32,373,763 89,039,705 267,631,534 LAST YEAR TO DATE RESIDENTIAL 171,190,653 53,337,316 24,450,713 39,499,435 53,903,189 COMM & IND 275,082,772 34,167,317 2,232,217 43,114,587 195,568,651 PVT ST LIGHTS 568,133 111,900 10,880 167,292 278,061 PUB ST LIGHTS 1,898,162 629,108 262,808 317,614 688,632 MUNI BLDGS 6,744,443 1,782,774 1,132,502 1,287,055 2,542,112 SALES/RESALE 2,245,501 2,245,501 0 0 0 SCHOOL 9,707,642 3,578,676 1,972,791 1,225,640 2,930,535 TOTAL 467,437,306 95.,852,592 304061,911 85,611,623 255,911,180 KILOWATT HOURS SOLD TO TOTAL MONTH TOTAL READING LYNNFIELD NO.READING WILMINGTON RESIDENTIAL 38.28% 12.04% 5.73% 8.80% 11.71% COMM & IND 56.64% 7.55% 0.52% 8.43% 40.14% 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 1.63% 0.52% 0.27% 0.29% 0.55% SALES/RESALE 0.53% 0.53% 0.00% 0.00% 0.00% SCHOOL 2.37% 0.84% 0.51% 0.30% 0.72% TOTAL 100.00% 21.64% 7.09% 17.93% 53.34% YEAR TO DATE RESIDENTIAL 37.72% 11.80% 5.42% 8.77% 11.73% COMM & IND 57.955. 7.21% 0,47% 8.74% 41.53% PVT ST LIGHTS 0.12% 0.02% 0.00% 0.03% 0.07% PUB ST LIGHTS 0.39% 0.13% 0.05% 0.06% 0.15% MUNI BLDGS 1.38% 0.37% 0.24% 0.28% 0.49% SALES/RESALE 0.49% 0.49% 0.00% 0.00% 0.00% SCHOOL 1.95% 0.69% 0.41% 0.25% 0.60% TOTAL 100.00% 20.71% 6.59% 18.13% 54.57% LAST YEAR TO DATE RESIDENTIAL 36.62% 11.41% 5.23% 8.45% 11.53% COMM & IND 58.85% 7.31% 0.48% 9.22% 41.84% PVT ST LIGHTS 0.12% 0.02% 0.00% 0.04% 0.06% PUB ST LIGHTS 0.41% 0.13% 0.06% 0.07% 0.15% MUNI BLDGS 1.44% 0.38% 0.24% 0.28% 0.54% SALES/RESALE 0.48% 0.48% 0.00% 0.0091. 0.00% SCHOOL 2.08% 0:77% 0.42% 0.26% 0.63% TOTAL 100.009. 20.5091. 6.43% 18.32% 54.75% (6) TOWN OF SEADINO, MMES SOSETTS MUNICIPAL LIOET DEPARTMENT FORNOLA INCOME 2/28/11 J TOTAL OPERATING REVENGES (P.3) 61,462,991.75 ADO: POLE REWFAL 99,586.60 COSTOM6R DEPOSIT INTEREST INCOME 11051.05 LESS: OPEAATINO E%PENSES (P.3) (55,036,606.21) CUSTOMER DEPOSIT INTEREST EXPENSE (10,295.20) FORMULA INCW¢ (LOSS) 3.516,859.82 TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT GENERAL STATISTICS 2/28/11 MONTH OF MONTH OF % CHANGE YEAR THRU FEB 2010 FEB 2011 2010 2011 FEB 2010 FEB 2011 SALE OF KWH (P.5) 52,795,169 56,311,245 -4.45% 4.99% 467,437,306 490,742,726 KWH PURCHASED 53,825,068 55,387,717 -3.15% 4.90% 478,349,421 501,785,567 AVE BASE COST PER KWH 0.038385 0.040859 13.81% -3.96% 0.038705 0.037171 AVE BASE SALE PER KWH 0.058115 0.066766 3.45% 11.23% 0.056946 0.063342 AVE COST PER KWH 0.096104 0.094730 -14.05% -5.28% 0.097383 0.092244 AVE SALE PER KWH 0.124604 0.122765 -12.7251. -0.55% 0.121684 0.121012 FUEL CHARGE REVENUE (P.3) 3,429,734.97 3,060,715.31 -26.68% -7.23% 29,947,485.46 27,781,259.29 LOAD FACTOR 70.54% 70.06% PEAK LOAD 104,522 108,295 (8) LL Ner C OL 030 4} OL AON (/) .}ter W > OL 100 0C/)> M d3S N U of env N of nnr � � � of Nnr cz 0 L Avw OL add 1 � oG adw T O l MH OL Nvr 60 030 60 AON 60100 60 d3S ■� 60 env . 60 Jnr 60 Nnr 60 Avw 60 add 60 avw /4! 60 S3d 60 N`dr 80 030 80 AON 80100 80 d3S So E)nv So inr 80 Nnr 80 AM 80 adv 80 avw 80 83d i LO O LO O to O LO O T-- O M t"-- LO W--f' N -r- 69- 69- 6- 6- 6c> 61:> 613- 69, 69- TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT SCHEDULE OF CASH AND INVESTMENTS 2/28/11 SCHEDULE A PREVIOUS YEAR CURRENT YEAR UNRESTRICTED CASH CASH - OPERATING FUND 6,403,103.01 7,222,949.28 CASH - PETTY CASH 3,000.00 3,000.00 TOTAL UNRESTRICTED CASH 6,406,103.01 7,225,949.28 RESTRICTED CASH CASH - DEPRECIATION FUND 5,444,492.83 4,676,350.65 CASH - TOWN PAYMENT 573,450.00 582,500.00 CASH - DEFERRED FUEL RESERVE 3,618,132.29 2,472,376.26 CASH - RATE STABILIZATION FUND 2,400,691.75 4,382,087.46 CASH - UNCOLLECTIBLE ACCTS RESERVE 28,988.15 200,000.00 CASH - SICK LEAVE BENEFITS 1,404,510.92 2,025,247.32 CASH - INSURANCE RESERVE 35,251.72 0.00 CASH - HAZARD WASTE RESERVE 150,000.00 150,000.00 CASH - CUSTOMER DEPOSITS 491,712.86 516,980.20 CASH - ENERGY CONSERVATION 321,942.17 274,631.71 CASH - OPEB 0.00 614,624.97 TOTAL RESTRICTED CASH 14,469,172.69 15,894,798.57 RESTRICTED INVESTMENTS RATE STABILIZATION * 2,900,000.00 1,000,000.00 SICK LEAVE BENEFITS ** 1,500,000.00 1,000,000.00 OPEB *** 0.00 200,000.00 TOTAL RESTRICTED INVESTMENTS 4,400,000.00 2,200,000.00 TOTAL CASH BALANCE 25,275,275.70 25,320,747.85 FEB 2010 * FED HOME LOAN MTG CORP 1,400,000.00; DTD 07/02/09; INT 3.250; MATURITY 07/15/14 * FED HOME LOAN MTG CORP 1,500,000.00; DTD 01/23/09; INT 2.00%; MATURITY 01/15/13 ** FED HOME LOAN MTG CORP 500,000.00; DTD 01/23/09; INT 2.00%; MATURITY 01/15/13 ** FED HOME LOAN MTG CORP 500,000.00; DTD 06/01/09; INT 3.7096; MATURITY 06/11/16 ** FED NATIONAL MTG ASSN 500,000.00; DTD 05/07/09; INT 3.00%; MATURITY 05/15/15 FEB 2011 * FREDDIE MAC 1,000,000.00; DTD 09/10/10; INT 2.0091.; MATURITY 09/15/20 ** FREDDIE MAC 1,000,000.00; DTD 09/10/10; INT 2.00%; MATURITY 09/15/20 *** FREDDIE MAC 200,000.00; DTD 09/10/10; INT 2.009-.; MATURITY 09/15/20 (9) TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT SCHEDULE OF ACCOUNTS RECEIVABLE 2/28/11 SCHEDULE B PREVIOUS YEAR CURRENT YEAR SCHEDULE OF ACCOUNTS RECEIVABLE RESIDENTIAL AND COMMERCIAL 5,247,945.59 5,073,105.53 ACCOUNTS RECEIVABLE - OTHER 336,291.34 136,454.79 ACCOUNTS RECEIVABLE - LIENS 172,106.91 102,768.97 ACCOUNTS RECEIVABLE - EMPLOYEE ADVANCES 1,067.16 892.14 SALES DISCOUNT LIABILITY (.307,344.73) (384,252.63) RESERVE FOR UNCOLLECTIBLE ACCOUNTS (220,594.76) (323,307.75) TOTAL ACCOUNTS RECEIVABLE BILLED 5,229,471.51 4,605,661.05 UNBILLED ACCOUNTS RECEIVABLE 4,172,944.58 4,055,159.11 TOTAL ACCOUNTS RECEIVABLE, NET 9,402,416.09 8,660,820.16 SCHEDULE OF PREPAYMENTS PREPAID INSURANCE 1,139,975.04 1,181,163.56 PREPAYMENT PURCHASED POWER 513,833.81 222,641.30 PREPAYMENT PASNY 286,833.66 239,666.63 PREPAYMENT WATSON 148,453.05 119,308.71 PURCHASED POWER WORKING CAPITAL 14,523.70 14,523.70 TOTAL PREPAYMENT 2,103,619.26 1,777,303.90 ACCOUNTS RECEIVABLE AGING FEBRUARY 2011: RESIDENTIAL AND COMMERCIAL 5,073,105.53 LESS: SALES DISCOUNT LIABILITY (384,252.63) GENERAL LEDGER BALANCE 4,688,852.90 CURRENT 3,729,667.90 79.54% 30 DAYS 509,698.06 10.87% 60 DAYS 187,546.86 4.00% 90 DAYS 101,375.03 2.16% OVER 90 DAYS 160,565.05 3.43% TOTAL 4,688,852.90 100.00% (10) TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT SCHEDULE OF OPERATING REVENUE 2/28/11 SCHEDULE D MONTH MONTH LAST YEAR CURRENT YEAR YTD S. SALES OF ELECTRICITY: LAST YEAR CURRENT YEAR TO DATE TO DATE CHANGE RESIDENTIAL SALES 2,635,768.82 2,891,212.32 22,836,089.06 24,483,018.22 7.21% COMM AND INDUSTRIAL SALES 3,575,315.70 3,659,967.96 31,262,670.75 32,161,629.31 2.88% PRIVATE STREET LIGHTING 10,651.48 10,696.29 83,975.55 84,535.80 0.67% TOTAL PRIVATE CONSUMERS 6,221,736.00 6,561,876.57 54,182,735.36 56,729,183.33 4.70% MUNICIPAL SALES: STREET LIGHTING 47,022.32 46,434.68 372,380.32 371,399.86 -0.26% MUNICIPAL BUILDINGS 105,396.82 111,603.42 824,922.58 828,044.42 0.38% TOTAL MUNICIPAL CONSUMERS 152,419.14 158,038.10 1,197,302.90 1,199,444.28 0.18% SALES FOR RESALE 35,204.25 37,464.16 285,214.58 300,370.92 5.31% SCHOOL 169,117.37 155,669.11 1,214,471.69 1,156,904.35 -4.74% SUB-TOTAL 6,578,476.76 6,913,047.94 56,879,724.53 59,385,902.88 0.05 FEITED DISCOUNTS 70,516.67 83,788.41 580,351.48 697,455.41 20.18% PURCHASED POWER CAPACITY 298,270.62 42,237.55 2,572,058.90 1,198,798.38 -53.39% ENERGY CONSERVATION - RESIDENTIAL 9,740.37 15,086.12 85,637.07 96,919.76 13.18% ENERGY CONSERVATION - COMMERCIAL 32,463.93 23,699.02 289,198.77 253,014.49 -12.51% GAW REVENUE 0.00 56,324.44 0.00 350,869.55 100.00% PASNY CREDIT (80,545.44) (92,678.30) (313,633.84) (520,068.72) 65.82% TOTAL REVENUE 6,908,922.91 7,041,505.18 60,093,337.91 61,462,891.75 2.28% TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT SCHEDULE OF OPERATING REVENUE BY TOWN 2/28/11 TOTAL READING LYNNFIELD NO.READING WILMINGTON MONTH RESIDENTIAL 2,891,212.32 912,349.63 430,491.35 664,191.50 884,179.84 INDUS/MUNI BLDG 3,771,571.38 546,842.73 53,907.79 581,225.27 2,589,595.59 PUB.ST.LIGHTS 46,434.68 16,227.98 5,649.79 7,678.41 16,878.50 PRV.ST.LIGHTS 10,696.29 2,005.80 198.43 3,320.06 5,172.00 CO-OP RESALE 37,464.16 37,464.16 0.00 0.00 0.00 SCHOOL 155,669.11 55,439.72 32,697.07 20,530.08 47,002.24 TOTAL 6,913,047.94 1,570,330.02 522,944.43 1,276,945.32 3,542,828.17 THIS YEAR TO DATE RESIDENTIAL 24,483,018.22 7,694,474.97 3,487,943.95 5,700,857.42 7,599,741.88 INDUS/MUNI BLDG 32,989,673.73 4,470,671.34 419,905.49 5,125,907.05 22,973,189.85 PUB.ST.LIGHTS 371,399.86 130,002.57 45,283.02 61,208.54 134,905.73 PRV.ST.LIGHTS 84,535.80 15,991.46 1,590.44 26,186.11 40,767.79 CO-OP RESALE 300,370.92 300,370.92 0.00 0.00 0.00 SCHOOL 1,156,904.35 412,537.58 241,727.15 154,138.25 348,501.37 TOTAL 59,385,902.88 13,024,048.84 41196,450.03 11,068,297.38 31,097,106.63 LAST YEAR TO DATE RESIDENTIAL 22,836,089.06 7,135,352.67 3,245,869.65 5,275,357.22 7,179,509.52 INDUS/MUNI BLDG 32,087,593.33' 4,285,310.25 404,088.60 5,137,229.24 22,260,965.24 PUB.ST.LIGHTS 372,380.32 128,898.68 46,098.02 61,812.12 '135,571.50 PRV.ST.LIGHTS 83,975.55 16,189.10 1,610.71 25,916.33 40,259.41 CO-OP RESALE 285,214.58 285,214.58 0.00 0.00 0.00 SCHOOL 1,214,471.69 446,055.49 243,395.12 158,477.71 366,543.37 TOTAL 56,879,724.53 12,297,020.77 3,941,062.10 10,658,792.62 29,982,849.04 PERCENTAGE OF OPERATING INCOME TO TOTAL TOTAL READING LYNNFIELD NO.READING WILMINGTON MONTH RESIDENTIAL 41.83% 13.20% 6.23% 9.61% 12.79% INDUS/MUNI BLDG 54.56% 7.91% 0.78% 8.41% 37.46% PUB.ST.LIGHTS 0.67% 0.23% 0.08% 0.11% 0.25% PRV.ST.LIGHTS 0.15% 0.03% 0.00% 0.05% 0.07% CO-OP RESALE 0.54% 0.54% 0.00% 0.00% 0.00% SCHOOL 2.25% 0.80% 0.47% 0.30% 0.68% TOTAL 100.00% 22.71% 7.56% 18.48% 51.25% THIS YEAR TO DATE RESIDENTIAL 41.22% 12.96% 5.87% 9.60% 12.79% INDUS/MUNI BLDG 55.55% 7.53% 0.719. 8.63% 38.68% PUB.ST.LIGHTS 0.63% 0.22% 0.08% 0.10% 0.23% PRV.ST.LIGHTS 0.14% 0.03% 0.00% 0.04% 0.07% CO-OP RESALE 0.51% 0.51% 0.00% 0.00% 0.00% SCHOOL 1.95% 0.69% 0.41% 0.26% 0.59% TOTAL 100.009. 21.94% 7.07% 18.63% 52.36% LAST YEAR TO DATE RESIDENTIAL 40.15% 12.54% 5.71% 9.27% 12.63% INDUS/MUNI BLDG 56.41% 7.53% 0.71% 9.03% 39.14% PUB.ST.LIGHTS 0.65% 0.23% 0.08% 0.11% 0.23% PRV.ST.LIGHTS 0.15% 0.03% 0.00% 0.05% 0.07% CO-OP RESALE 0.50% 0.50% 0.00% 0.00% 0.00% SCHOOL 2.14% 0.78% 0.43% 0.28% 0.65% TOTAL 100.00% 21.61% 6.93% 18.74% 52.72% (1�.A) TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT BUDGETED REVENUE VARIANCE REPORT 2/28/11 SCHEDULE F ACTUAL BUDGET YEAR TO DATE YEAR TO DATE VARIANCE * CHANGE SALES OF ELECTRICITY: RESIDENTIAL 13,873,661.20 12,352,892.00 1,520,769.20 12.31% COMM AND INDUSTRIAL SALES PRIVATE STREET LIGHTING 16,190,534.01 14,573983.00 1,616,551.01 11.09% MUNICIPAL BUILDINGS PUBLIC STREET LIGHTING 260,586.27 358,576.00 (97,989.73) -27.33% SALES FOR RESALE 161,851.32 171,788.00 (9,936.68) -5.78% SCHOOL 597,942.07 562,815.00 35,127.07 6.24% TOTAL BASE SALES 31,084,574.87 28,020,054.00 3,064,520.87 10.94% TOTAL FUEL SALES 28,301,328.01 27,934,076.00 367,252.01 1.31% TOTAL OPERATING REVENUE 59,385,902.88 55,954,130.00 3,431,772.88 6.13% FORFEITED DISCOUNTS 697,455.41 616,441.00 81,014.41 13.14% PURCHASED POWER CAPACITY 1,198,798.38 3,732,183.00 (2,533,384.62) -67.889. ENERGY CONSERVATION - RESIDENTIAL 96,919.76 81,746.00 15,173.76 18.56% ENERGY CONSERVATION - COMMERCIAL 253,014.49 287,942.00 (34,927.51) -12.13% GAS^' REVENUE 350,869.55 180,000.00 170,869.55 94.93% PASNY CREDIT (520,068.72) (400,000.00) (120,068.72) 30.029. TOTAL OPERATING REVENUES 61,462,891.75 60,452,442.00 1,010,449.75 1.67% * ( ) = ACTUAL UNDER BUDGET Iiia) TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT SCHEDULE OF OPERATING EXPENSES 2/28/11 SCHEDULE E MONTE MONTE LAST YEAR CURRENT YEAR YTD % OPERATION EXPENSES: LAST YEAR CURRENT YEAR TO DATE TO DATE CHANGE PURCHASED POWER BASE EXPENSE 2,066,054.50 2,263,102.35 18,514,414.16 18,651,819.58 0.74% OPERATION SUPER AND ENGIN-TRANS 0.00 0.00 0.00 0.00 0.00% OPERATION SLIP AND ENGINEERING EXP 35,325.45 35,434.61 267,759.11 305,648.66 14.15% STATION SUP LABOR AND MISC 8,294.30 9,086.48 49,943.65 72,211.77 44.59% LINE MISC LABOR AND EXPENSE 50,907.38 65,485.77 415,155.75 421,687.89 1.57% STATION LABOR AND EXPENSE 32,771.91 36,500.56 311,778.17 304,718.18 -2.26% STREET LIGHTING EXPENSE 3,546.74 8,839.64 32,413.14 59,279.90 82.89% METER EXPENSE 29,844.03 24,472.19 263,304.25 218,838.66 -16.89% MISC DISTRIBUTION EXPENSE 26,619.81 27,747.99 214,378:54 220,005.81 2.62% METER READING LABOR & EXPENSE 4,498.25 5,780.35 49,768.34 50,062.26 0.59% ACCT & COLL LABOR & EXPENSE 89,195.60 101,743.32 886,152.15 858,644.73 -3.10% UNCOLLECTIBLE ACCOUNTS 12,500.00 15,000.00 100,492.92 120,000.00 19.41% ENERGY AUDIT EXPENSE 25,633.36 30,660.79 296,532.75 258,326.71 -12.88% ADMIN & GEN SALARIES 58,208.44 53,649.41 511,342.37 464,706.07 -9.12% OFFICE SUPPLIES & EXPENSE 24,257.84 19,699.82 176,832.90 178,367.11 0.87% OUTSIDE SERVICES 34,202.30 29,648.85 205,325.99 145,258.19 -29.25% PROPERTY INSURANCE 30,684.47 31,705.39 251,936.45 247,772.10 -1.65% INJURIES AND DAMAGES 4,339.87 3,533.47 39,628.67 28,109.96 -29.07% EMPLOYEES PENSIONS & BENEFITS 110,396.95 38,812.95 1,071,843.90 1,063,351.61 -0.79% MISC GENERAL EXPENSE 10,666.89 23,613.28 105,113.41 116,348.81 10.69% RENT EXPENSE 31,846.69 34,381.85 131,973.06 136,260.18 3.25% ENERGY CONSERVATION 33,739.77 107,952.20 243,609.07 384,185.00 57.71% TOTAL OPERATION EXPENSES 657,480.05 703,748.92 5,625,284.59 5,653,783.60 0.51% MAINTENANCE EXPENSES: MAINT OF TRANSMISSION PLANT 227.08 227.08 1,816.66 1,816.68 0.00% MAINT OF STRUCT AND EQUIP14T 12,694.73 22,351.98 58,976.08 111,514.66 89.08% MAINT OF LINES - ON 113,463.47 98,448.68 748,850.78 898,978.09 20.05% MAINT OF LINES - UG 35,882.57 9,069.38 129,969.24 92,147.83 -29.10% MAINT OF LINE TRANSFORMERS ** 1,614.80 16,095.15 594,160.60 1,309,140.19 120.33% MAINT OF ST LT & SIG SYSTEM (40.94) (0.90) (129.61) (118.78) -8.36% MAINT OF GARAGE AND STOCKROOM 35,979.05 87,674.29 324,151.32 395,156.37 21.90% MAINT OF METERS 0.00 3,671.71 531.31 11,265.44 2020.31% MAINT OF GEN PLANT 7,228.14 40,640.13 62,137.99 98,188.03 58.02% TOTAL MAINTENANCE EXPENSES 207,048.90 278,177.50 1,920,464.37 2,918,088.51 51.95% DEPRECIATION EXPENSE 280,105.78 287,729.05 2,240,846.24 2,301,832.40 2.7291. PURCHASED POWER FUEL EXPENSE 3,106,761.88 2,983,759.61 28,068,747.42 27,634,995.12 -1.55% VOLUNTARY PAYMENTS TO TOWNS 104,500.00 110,000.00 835,746.00 875,885.00 4.80% TOTAL OPERATING EXPENSES 6,421,951.11 6,626,517.43 57,205,502.78 58,036,404.21 1.45% ** FY it YTD total includes GAW soil remediation expenses totalling $1,256,862.93 Total costs to date for entire project is $2,353,294.73 (12) TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT BUDGETED OPERATING EXPENSE VARIANCE REPORT 2/28/11 SCHEDULE G ACTUAL BUDGET OPERATION EXPENSES: YEAR TO DATE YEAR TO DATE VARIANCE * CHANGE PURCHASED POWER BASE EXPENSE 18,651,819.58 18,663,972.00 (12,152.42) -0.07% OPERATION SUPER AND ENGIN-TRANS 0.00 0.00 0.00 0.00% OPERATION SUP AND ENGINEERING EXP 305,648.66 289,061.00 16,587.66 5.74% STATION SUP LABOR AND MISC 72,211.77 55,000.00 17,211.77 31.29% LINE MISC LABOR AND EXPENSE 421,687.89 352,537.00 69,150.89 19.62% STATION LABOR AND EXPENSE 304,718.18 280,535.00 24,183.18 8.62% STREET LIGHTING EXPENSE 59,279.90 43,994.00 15,285.90 34.75% METER EXPENSE 218,838.66 .318,191.00 (99,352.34) -31.22% MISC DISTRIBUTION EXPENSE 220,005.81 226,800.00 (6,794.19) -3.00% METER READING LABOR & EXPENSE 50,062.26 42,214.00 7,848.26 18.59% ACCT & .COLL LABOR & EXPENSE 858,644.73 922,054.00 (63,409.27) -6.88% UNCOLLECTIBLE ACCOUNTS 120,000.00 120,000.00 0.00 0.00% ENERGY AUDIT EXPENSE 258,326.71 321,288.00 (62,961.29) -19.60% ADMIN & GEN SALARIES 464,706.07 505,633.00 (40,926.93) -8.09% OFFICE SUPPLIES & EXPENSE 178,367.11 185,477.00 (7,109.89) -3.83% OUTSIDE SERVICES 145,258.19 197,602.00 (52,343.81) -26.49% PROPERTY INSURANCE 247,772.10 319,224.00 (71,.451.90) -22.38% INJURIES AND DAMAGES 28,109.96 43,354.00 (15,244.04) -35.16% EMPLOYEES PENSIONS & BENEFITS 1,063,351.61 843,339.00 220,012.61 26.09% MISC GENERAL EXPENSE 116,348.81 164,821.00 (48,472.19) -29.41% RENT EXPENSE 136,260.18 141,336.00 (5,075.82) -3.59% ENERGY CONSERVATION 384,185.00 433,622.00 (491-437.00) -11.40% TOTAL OPERATION EXPENSES 5,653,783.60 5,806,082.00 (152,298.40) -2.62°% MAINTENANCE EXPENSES: MAINT OF TRANSMISSION PLANT 1,816.68 2,000.00 (163.32) -9.17% MAINT OF STRUCT AND EQUIPMENT 111,514.66 124,229.00 (12,714.34) -10.23% MAINT OF LINES - OR 898,978.09 773,574.00 125,404.09 16.21% NAINT OF LINES - UG 92,147.83 126,681.00 (34,533.17) -27.26% MAINT OF LINE TRANSFORMERS ** 1,309,140.19 666,086.00 643,054.19 96.54% MAINT OF ST LT & SIG SYSTEM (118.78) 5,841.00 (5,959.78) -102.03% MAINT OF GARAGE AND STOCKROOM 395,156.37 477,633.00 (82,476.63) -17.27% MAINT OF METERS 11,265.44 2,544.00 8,721.44 342.82% MAINT OF GEN PLANT 98,188.03 88,000.00 10,188.03 11.58% TOTAL MAINTENANCE EXPENSES 2,918,088.51 2,266,588.00 651,500.51 28.74% DEPRECIATION EXPENSE 2,301,832.40 2,333,336.00 (31,503.60) -1.35% PURCHASED POWER FUEL EXPENSE 27,634,995.12 28,412,120.00 (777,124.88) -2.74% VOLUNTARY PAYMENTS TO TOWNS 875,885.00 880,000.00 (41115.00) -0.47% TOTAL OPERATING EXPENSES 58,036,404.21 58,362,098.00 (325,693.79) -0.56% * ( ) = ACTUAL UNDER BUDGET �* FY 11 YTD total includes GAW soil remediation expenses totalling $1,256,862.93 Total costs to date for entire project is $2,353,294.73 (12A) TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT BUDGETED OPERATING EXPENSE VARIANCE REPORT 2/28/11 RESPONSIBLE REMAINING SENIOR 2011 ACTUAL BUDGET REMAINING OPERATION EXPENSES: MANAGER ANNUAL BUDGET YEAR TO DATE BALANCE BUDGET PURCHASED POWER BASE EXPENSE JP 27,711,574.00 18,651,819.58 9,059,754.42 32.69% OPERATION SUPER AND ENGIN-TRANS ICS 0.00 0.00 0.00 0.00% OPERATION SUP AND ENGINEERING EXP ICS 441,828.00 305,648:66 136,179.34 30.82% STATION SUP LABOR AND MISC KS 85,205.00 72,211.77 12,993.23 15.25% LINE MISC .LABOR AND EXPENSE KS 520,806.00 421,687.89 99,118.11 19.03% STATION LABOR AND EXPENSE ICS 426,438.00 304,718.18 121,719.82 28.54% STREET LIGHTING EXPENSE ICS 66,694.00 59,279.90 7,414.10 11.12% METER EXPENSE DA 482,771.00 218,838.66 263,932.34 54.67% MISC DISTRIBUTION EXPENSE JD 347,115.00 220,005.81 127,109.19 36.62% METER READING LABOR & EXPENSE DA 64,358.00 50,062.26 14,295.74 22.21% ACCT & COLL LABOR & EXPENSE RF 1,397,984.00 858,644.73 539,339.27 38.58% UNCOLLECTIBLE ACCOUNTS RF 180,000.00 120,000.00 60,000.00 33.33% ENERGY AUDIT EXPENSE JP 494,776.00 258,326.71 236,449.29 47.79% ADMIN & GEN SALARIES VC 776,849.00 464,706.07 312,142.93 40.18% OFFICE SUPPLIES & EXPENSE VC 278,100.00 178,367.11 99,732.89 35.86% OUTSIDE SERVICES VC 293,500.00 145,258.19 148,241.81 50.51% PROPERTY INSURANCE JD 478,900.00 247,772.10 231,127.90 48.26% INJURIES AND DAMAGES JD 64,805.00 28,109.96 36,695.04 56.62% EMPLOYEES PENSIONS & BENEFITS JD 1,188,607.00 1,063,351.61 125,255.39 10.54% MISC GENERAL EXPENSE VC 212,096.00 116,348.81 95,747.19 45.14% RENT EXPENSE JD 212,000.00 136,260.18 75,739.82 35.73% ENERGY CONSERVATION JP 643,730.00 384,185.00 259,545.00 40.32% TOTAL OPERATION EXPENSES 8,656,562.00 5,653,783.60 3,002,778.40 34.69% MAINTENANCE EXPENSES: MAINT OF TRANSMISSION PLANT KS 3,000.00 1,816.68 1,183.32 39.44% MAINT OF STRUCT AND EQUIPMT KS 187,404.00 111,514.66 75,889.34 40.50% MAINT OF LINES - OR KS 1,199,735.00 898,978.09 300,756.91 25.07% MAINT OF.LINES - UG KS 190,258.00 92,147.83 98,110.17 51.57% MAINT OF LINE TRANSFORMERS ** KS 693,500.00 1,309,140.19 (615,640.19) -88.77% NAINT OF ST IT & SIG SYSTEM JD 8,857.00 (118.78) 8,975.78 101.34% MAINT OF GARAGE AND STOCKROOM JD 676,532.00 395,156.37 281,375.63 41.50. MAINT OF METERS DA 3,875.00 11,265.44 (7,390.44) -190.72% MAINT OF GEN PLANT RF 132,000.00 98,188.03 33,811.97 25.62% TOTAL MAINTENANCE EXPENSES 3,095,161.00 2,918,088.51 177,072.49 5.72% DEPRECIATION EXPENSE RF 3,500,000.00 2,301,832.40 1,198,167.60 34.23% PURCHASED POWER FUEL EXPENSE JP 39,512,664.00 27,634,995.12 11,877,668.88 30.0696 VOLUNTARY PAYMENTS TO TOWNS RF 1,320,000.00 875,885.00 444,115.00 33.65% TOTAL OPERATING EXPENSES 83,795,961.00 58,036,404.21 25,759,556.79 30.74% ** FY it YTD total includes GAW soil remediation expenses totalling $1,256,862.93 Total costs to date for entire project is $2,353,294.73 cizs) TOWN OF READING, MASSACHUSETTS MUNICIPAL LIGHT DEPARTMENT PROFESSIONAL SERVICES 2/28/2011 PROFESSIONAL SERVICES BY PROJECT ITEM DEPARTMENT ACTUAL BUDGET VARIANCE 1 RMLD AND PENSION TRUST AUDIT FEES ACCOUNTING 31,750.00 36,000.00 (41250.00) 2 PENSION ACTUARIAL EVALUATION ACCOUNTING 6,000.00 0.00 6,000.00 3 LEGAL- FERC/ISO ISSUES ENERGY SERVICE 0.00 12,000.00 (12,000.00) 4 LEGAL- POWER SUPPLY ISSUES ENERGY SERVICE 17,782.01 32,000.00 (14,217.99) 5 PROFESSIONAL SERVICES ENERGY SERVICE 0.00 20,000.00 (20,000.00) 6 NERC COMPLIANCE E & 0 5,887.50 5,000.00 887.50 7 ENGINEERING STUDIES ENGINEERING 0.00 11,250.00 (11,250.00) 8 LEGAL SERVICES- GENERAL GM 75,029.40 33,336.00 41,693.40 9 LEGAL SERVICES- ARBITRATION HR 3,481.90_ 0.00 3,481.90 10 LEGAL GENERAL HR 1,980.37 28,000.00 (26,019.63) 11 LEGAL GENERAL BLDG. MMMT. 0.00 1,000.00 (1,000.00) 12 SURVEY RIGHT OF WAY BLDG. MAINT. 0.00 3,336.00 (3,336.00) 13 ENVIRONMENTAL BLDG. MAINT. 1,472.00 3,336.00 (1,864.00) 14 ENGINEERING SERVICES BLDG. MAINT. 0.00 5,680.00 (51680.00) 15 INSURANCE CONSULTANT GEN. BENEFIT 1,875.01 6,664.00 (4,788.99) TOTAL 145,258.19 197,602.00 (52,343.81) PROFESSIONAL SERVICES BY VENDOR ACTUAL MELANSON HEATH & COMPANY PC 49,698.99 RUBIN AND RUDMAN 56,510.42 DUNCAN AND ALLEN 17,202.00 - WILLIAM F CROWLEY ATTORNEY 650.00 CHOATE HALL AND STEWART 5,262.27 UTILITY SERVICES INC. 5,887.50 AMERICAN ARBITRATION ASSOCIATION 200.00 COVINO ENVIRONMENTAL ASSOCIATES 1,472.00 ROMARKE INSURANCE 1,875.01 FIG LEAF SOFTWARE INC 500.00 STONE CONSULTING INC. 6,000.00 TOTAL 145,258.19 (13) 3/23/2011 RMLD 1:30 PM BUDGET VARIANCE REPORT FOR PERIOD ENDING FEBRUARY 28, 2011 DIVISIONS AND DEPARTMENTS ACTUAL BUDGET VARIANCE CHANGE ENGINEERING AM OPERATIONS: E&O MGR 129,126 133,623 (4,498) -3.37% ENGINEERING 306,216 300,973 5,243 1.74% LINE 1,473,957 1,304,793 169,164 12.96% METER READING 50,062 42,216 7,846 18.59% METER TECHNICIANS 219,584 318,358 (98,774) -31.03% STATION OP 376,930 335,535 41,395 12.34% STATION TECHS 1,431,920 793,196 638,724 80.53% DIVISION TOTAL 3,987,795 3,228,695 759,101 23.51% ENERGY SERVICES DIVISION TOTAL 660,230 819,243 (159,013) -19.41% GENERAL MANAGER: GENERAL MANAGER 268,741 240,976 27,765 11.52% HUMAN RESOURCES 76,429 126,429 (50,000) -39.55% COMMUNITY RELATIONS 111,240 131,592 (20,352) -15.47% CAB 3,621 9,917 (6,296) -63.49% BOARD 3,664 7,000 (3,336) -47.65% DIVISION TOTAL 463,696 515,913 (52,218) -10.12% FACILITY MANAGER: GENERAL BENEFITS 1,522,211 1,418,877 103,333 7.28% BUILDING MAINTENANCE 396,703 490,983 (94,280) -19.20% MATERIALS MANAGEMENT 220,017 227,802 (7,785) -3.42% DIVISION TOTAL 2,138,931 2,137,662 1,269 0.06% BUSINESS DIVISION: ACCOUNTING 495,542 521,896 (26,355) -5.05% CUSTOMER SERVICE 407,277 438,988 (31,711) -7.22% MIS 394,863 384,769 10,095 2.62% MISCELLANEOUS DEDUCTIONS 4,659,472 4,696,833 (37,361) -0.80% DIVISION TOTAL 5,957,154 6,042,486 (85,332) -1.41% DIVISION TOTALS 13,207,806 12,743,999 463,807 3.64% PURCHASED POWER - BASE 18,651,820 18,663,972 (12,152) -0.07% PURCHASED POWER - FUEL 27,634,.995 28,412,120 (777,125) -2.74% TOTAL 59,494,621 59,820,091 (325,470) -0.54% RMLD DEFERRED FUEL CASK RESERVE ANALYSIS 2/28/11 GROSS MONTHLY TOTAL DATE CHARGES REVENUES PASNY CREDIT DEFERRED DEFERRED Jun-10 2,326,112.09 Jul-10 4,555,108.56 3,536,618.90 (98,501.74) (1,116,991.40) 1,209,120.69 Aug-10 4,151,871.47 3,658,721.48 (49,929.96) (543,079.95) 666,040.74 Sep-10 3,437,081.39 4,007,231.89 (52,662.99) 517,487.51 1,183,528.25 Oct-10 2,586,224.1.5 3,632,858.99 (62,298.35) 984,336.49 2,167,864.74 Nov-10 2,717,341.26 3,468,972.22 (32,335.11) 719,295.85 21887,160.59 Dec-10 3,582,794.01 3,213,832.76 (71,724.91) (440,686.16) 2,446,474.43 Jan-11 3,620,814.67 3,629,698.16 (59,937.36) (51,053.87) 2,395,420.56 Fab-11 2,983,759.61 3,153,393.61 (92,678.30) 76,955.70 2,472,376.26 RMLD STAFFING REPORT FOR FISCAL YEAR ENDING JUNE, 2011 ACTUAL 11 BUD JUL AUG SEP OCT NOV DEC JAN FEB TOTAL 10 1.0 10 10 10 10 11 11 GENERAL MANAGER GENERAL MANAGER 2 2 2 2 2 2 2 2 2 HUMAN RESOURCES 1.5 1 1 1 1 1 1 1 1 COMMUNITY RELATIONS 1.5 1 1 1 1 1 1 1 1 TOTAL 5 4 4 4 4 4 4 4 4 BUSINESS ACCOUNTING 2 2 2 2 2 2 2 2 2 CUSTOMER SERVICE 9 8 8 8 8 8 8 8 7 MGMT INFORMATION SYS 6 6 6 6 6 6 6 6 6 MISCELLANEOUS 1 1 1 1 1 1 1 1 1 TOTAL 18 17 17 17 17 17 17 17 16 ENGINEERING & OPERATIONS AGM E&O 2 2 2 2 2 2 2 2 2 ENGINEERING 5 5 5 5 5 5 5 5 5 LINE 20 19 19 19 19 19 19 19 20 METER 6 6 6 6 6 6 6 6 6 STATION 9 9 9 9 9 9 9 9 9 TOTAL 42 41 41 41 41 41 41 41 42 PROJECT BUILDING 2 2 2 2 2 2 2 2 2 GENERAL BENEFITS 2 2 2 2 2 2 2 2 2 TRANSPORTATION 0 0 0 0 0 0 0 0 0 MATERIALS MGMT 4 4 4 4 4 4 4 4 4 TOTAL 8 8 8 8 8 8 8 8 8 ENERGY SERVICES ENERGY SERVICES 6 6 5 5 5 5 5 5 5 TOTAL 6 6 5 5 5 5 5 5 5 RMLD TOTAL 79 76 75 75 75 75 75 75 75 CONTRACTORS UG LINE 2 2 2 2 2 2 2 2 2 TOTAL 2 2 2 2 2 2 2 2 2 GRAND TOTAL 81 78 77 77 77 77 77 77 77 ATTACHMENT 3 To: %incent Cameron From: Ener(,y Services Date: March 18. 2011 Subject: Purchase Power Summary —February 2011 Ener(-n, Services Division (ESD) has completed the Purchase Power Summary for the month of February.. 2011. ENERGY The RMLD's total metered load for the month was 55,305,783 kV7h, which was an increase of 2.78 % compared to February, 2010 figures. Table 1 is a breakdown by source of the energy purchases. TABLE %of Amount of Cost of Total Total$ $as a Resource .Energy Energy Energy Costs % (kWh) ($/Mwh) Millstone#3 3,341,923 $5.54 6.03% $18,512 0.62% Seabrook 5,172,311 $8.86 9.34% $45,826 1.54% JP Morgan 8,400,000 $54.95 15.17% 8461,600 15.47% Stonybrook 1,624,917 $108.71 2.93% $176,651 5.92% Constellation 6,720,000 365.71 12.13% $441,588 14.80% PASNY 1,767,904 $4.92 3.19% $8.698 0.29% ISO Interchange 9,982,292 $51.47 18.02% $514,552 17.25% NEMA Congestion 0 $0.00 0.00% -$155,125 -5.20% Coop Resales 82,818 $132.43 0.15% $10,968 0.37% Stonybrook Peaking 103,280 $161.26 0.19% $16,655 0.56% MacQuarie 17,760,000 $78.42 32.06% $1,392,683 46.68% Braintree Watson Unit 432,272 $118.33 0.78% $51:150 1.71% Monthly Total 55,387,717 $53.87 100.00% $2.983,760 100.00% Table 2 Amount Cost % of Total Resource of Energy of Energy Energy (kWh) ($/Mwh) ISO DA LMP* 9,523,524 55.94 17.19% Settlement RT Net Energy** 458,768 41.25 0.83% Settlement ISO Interchange 9,982,292 51.47 18.02% (subtotal) Table 2 breaks down the ISO interchange between the DA. LMP Settlement and the RT Net Energy for month of February, 2011. CAPACrTY The RMLD hit a demand of 108.295 lWs, which occurred on February 1... 2011 at 7 pm. The RML,TYs monthly t1CAP requirement for February_ 2011 was 205,111 1<Ws. Table 3 shows the sources of capacit} that the RMLD utilized to meet its requirement. Table 3 Source !amount(kWs) Cost($/kW-month) Total Cost$ % of Total Cost Millstone#3 4,991 $62.13 $310,099 20.45% Seabrook 7,902 $56.66 $447,739 29.52% Stonybrook Peaking 24,981 $2.00 $49,994 3.30% Stonybrook CC 42,925 $3.32 $142,537 9.40% P as ny 0 $2.96 $11,896 0.78% HQICC 0 0 $20,306 1.34% ISO-NE Supply Auction 113,792 $3.72 $422,996 27.89% Braintree Watson Unit 10,520 $10.56 $111,143 7.33% Total 205,111 $7.39 $1,516,708 100.00% '`ISO DA LMP: Independent System Operator Day-Ahead Locational Marginal Price *1-RT Net Energy: Real-Time Net Energy Table 4 Resource Energy Capacity Total cost %of Total Cost Millstone#3 $18,512 $310,099 $328.611 7.30% Seabrook $45,826 $447,739 $493.565 10.97% Stonybrook $176,651 $142,537 $319,188 7.09% HQ II $0 $20,306 $20,306 0.45% Constellation $441,588 $0 $441,588 9.81% PASNY $8,698 $11.896 $20.594 0.460X3 ISO Interchange $514,552 $422,996 $937.548 20.83% Nema Congestion -$155,125 $0 -$155,125 -3.45% Coop Resales $10,968 $0 $10,968 0.24% Stonybrook Peaking $16,655 $49.994 $66,649 1.48% Integrys $461,600 $0 $461,600 10.26% MacQuarie $1,392,683 $0 $1,392,683 30.95% Braintree Watson Unit $51.150 $111,143 $162,293 3.61% Monthly Total $2,983,760 $1.516,708 $4,500,468 100.00% Table 4 shows the total dollar amounts for energy and capacity per source. TdG ANS1Y ISSIO C The RMLD's total transmission costs for the month of February, 2011 are $744,1 86. This is a 14.401io increase from the January 2011 cost of$650,537. In 2010. the transmission costs.for the month of February, 2010 were $612.466. Table 5 Current Month Last Month Last Year Peak Demand(kW) 108,295 106,870 104,522 Energy(kWh) 55.387,717 61,393,989 53,825,068 Energy($) $2,983,760 $3:704,456 $3,106,762 Capacity($) $1,516,708 $11737,772 $1,450,367 Transmission ($) $744,186 $650,537 $612.466 Total $5,244,654 $6,092,764 $5,169,594 Table 5 shows the current month vs. last month and last year (February. 2010). ATTACHMENT 4 0 0 0 c c .cc .` c 0 0 0 U U U N N N .Oc .t � N U (n C C C N N O O N T N Q3 C C N N N N N O N c N U) aaa CL CL a'm 'm U) aaaaaa a'm a 0 0 0 0 0 0 0 0 0 0 O 0 0 0 0 0 0 0 0 0 Z UUUUUUUWQ� Z UUU0000W0 °0' a; O p c rnornCOMC) C) oa> rnrn0) 0C . 0 O � 000 - � � r p 00000 „ „ ++ C +r c U L 6 4 4- i .2 t- -c C14- f) o) I I O 4. � N000 (hfhM M N O U O N O N U C. p 01 � � 0 o m C -50 -50200 < < 000 � � 0000 V V r m a' 0000000c. 0000000 0 E 00000oococo E o000000o v e o rnrnrnrnrnrnorno a, mmmmm °: O00000 � o � +.+ 00000000 <� ') 0 C >+ >+ U c: NONNMN � 01 C N O N �p tQ t6 N �p CO w ti 00 0) N N O •� � LL � Q -) 5` � Q � 0000000 - O LO N U) a E N v E C CU 0 CL 0 Qco o > � c � � � aciaciaci m i aEi D o 0--( 1) 0 (L) Y d � � ocLaO � v � omm � E U a� L U Qaa a L c and ao � =0 0 0 0 v0i 0 0 w O c c � cch S � _ WU 000 < m -0 E '� w a,c o C "0 0 c� '� � ° c0 300oo m c I•! �i a'- cc C c c O O O O O :- :- •- E E E E E Gf C6 7 C O - - C!1 QCS W U c c (D L U L L L L N LL (Q O O O O O c L S m U 0 .m UJ u (n 65 m U to (n fn a1 m y t c 0 t c c c c C O c C c C c t6 2 t6 2 t6 5 N N C� � � cn000UU FR � H - F F F- hcnlL V I � i 0 0 s � F-1 F— CL77, sz f o t � i� M 00 Imo- CD LO ct CO N r- C ) O7 suoilliw ul SJBIIoa o� _ LLalld N r Q1 A -------- - - am M `! d CA / M 09 co 00 CO CO CLQ 6 NF1 L {� ✓ ' J 5 Y IL ICO O T- -.7- O L O � O O v-- .t,- T-- CO M Rf CO tl- O V- O LO M LO CO O It O O H d' Ld.) CO t- r c- O I` CO r CO O M O -- C ) c L Q -------- - r CL -- 7777 Lc) LO t7b O 0) O M O r O O M N co co co V � O O O cp N t-- Lo✓.Lo O O ,LO ;O d' O tx) 00 co O d' w u*) w O O d" M O M t— E O M M ct N t` N D N LO O O N M N r- O O O N O O O O O O O O O ------ ---- -------------------- -------------- •� L _ 00 CA O r © d O r r L N N N N N U. CD E a) E N E to E = t6 s_ _- ca >_ _a p s_ Q p O '� i 0 p O L f' t4 .QCo E J UJ0 a) E J LL! .Q a) J 0 co Cc W -Q a) � O p U N —I p U J s_ U — coO cnCo p Q N CO Q a) V V COO) c v (> cLa 0 0 O o 2 m .O 0 75 a) o 0 3/22/2011 2:27 PM READING MUNICIPAL LIGHT DEPARTMENT FY 11 CAPITAL BUDGET VARIANCE REPORT FOR PERIOD ENDING FEBRUARY 28,2011 ACTUAL YTD ACTUAL ANNUAL COST COST BUDGET It PROJECT DESCRIPTION TOWN FEBRUARY THRU 2/28/11 AMOUNT VARIANCE E&O Construction-System Projects 1 40114 Reconductoring-West Street W 42,317 42,317 234,470 192,153 2 4W14 Extension-Woburn Street W 157,958 157,958 - 3 Station#4 Getaway 4W17 Replacements(FY10 Budget) R 157,877 169,928 12,051 "' 4 Boutwell Street W 12,010 96,215 125,955 29,740 5 Chestnut Street W 11,472 11,472 171,933 160,461 " 6 Haverhill Street-Reconductoring(FY10 Budget) R 102,575 100,534 (2,041) 7 URD Completions-Perkins Farm-Lynnfield NR,L 1,128 45,068 72,484 27,416 and Chestnut Village,North Reading(FY10 Budget) 8 Salem St.to Glen Rd.13kV Feeder Tie(FY10 Budget) W 11,531 11,334 (197) " 22 Wilmington-Main Street(FY10 Budget) W 30,834 34,975 4,141 33 4W4 Reconductoring(formerly Project 3) W 103,315 103,315 36 3W8 Salem Street&Baystate Road(formerly Project 6) R 28,640 77,668 207,439 129,771 37 Elm Street(Formerly Project 7) NR 23,971 153,376 132,011 (21,365) Station Upgrades Station#4 38 115kV Insulator Replacement (formerly Project 8) R 7,962 59,505 144,323 84,818 9 115kV Disconnect Replacement R 87,975 87,975 11 Transformer Replacement Part 1-Contractual Labor R 340,235 545,500 205,265 Part 2-Procured Equipment R 7,162 30,000 22,838 Part 3-RMLD Labor R 102,061 64,324 (37,737) Part 4-Feeder Re-Assignment R 2,256 47,627 236,034 188,407 Station#5 23 15kV Circuit Breaker Replacement(Carryover FY10 Bud) W 125,552 158,731 33,179 New Customer Service Connections 12 Service Installations-CommerciaVlndustrial Customers ALL 4,155 48,749 55,055 6,306 13 Service Installations O/H R U/G-Residential Customers ALL 12;578 130.017 200;345 70.328 14 Routine Construction Various Routine Construction ALL 180,061 838,134 982,565 144,431 Total Construction Projects 326,550 2,427,974 4,027,188 1,599,213 Other Projects 15 GIS 12,125 20,000 7,875 16 Transformers/Capacitors Annual Purchases 23,064 251,772 190,167 (61,605) 17 Meter Annual Purchases 4,955 234,171 765,875 531,704 18 Purchase Two New Small Vehicles 64,000 64,000 19 Replace Line Department Vehicles 360,000 360,000 20 Purchase Pole Trailer 15,000 15,000 21 Upgrade Lighting Stockroom and Meter Room 3,798 22,400 18,602 24 Enlarge Parking Area and Construct Island 10,775 10,775 27 Hardware Upgrades 1,410 33,700 32,290 28 Software and Licensing 338 3,648 96,476 92,828 Total Other Projects 28,357 506,924 1,578,393 1,071,469 TOTAL RMLD CAPITAL PROJECT EXPENDITURES 354,907 2,934,898 5,605,581 2,670,683 29 Force Account/Reimbursable Projects ALL - - - - TOTAL FY 11 CAPITAL PROJECT EXPENDITURES 354,907 2,934,898 5,605,581 2,670,683 completed projects Reading Municipal Light Department Engineering and Operations Monthly Report February, 2011 FY 2011 Capital Plan E&O Construction — System Projects 1. 4W14 Reconductoring —West Street-Wilmington — Project began. Engineering labor. Installed rope and pulled in cable. 2. 4W14 Extension —Woburn Street - Wilmington — No activity 3. Station #4 Getaway 4W17 Replacements — Reading (FY10 Budget) — Project complete 4. Boutwell Street Wilmington — Pole transfers; hang gang- operated switch. Project complete. 5. Chestnut Street—Wilmington — Project began. Engineering labor; Install spacer cable; and framed poles. 6. Haverhill Street- Reading — Reconductoring - (FY10 Budget) — Project complete. 7. URD Completions — Parker, North Reading — Change taps on padmount transformers and connected piece of loop to finish. Project complete. 8. Salem Street to Glen Road 13 kV Feeder Tier Wilmington -(FY10 Budget) — Project complete. 22. Wilmington — Main Street (FY 10 Budget)— Project complete. 33. 4W4 Reconductoring —Wilmington - No activity. 36. 3W8 Salem & Bay State Road —Reading — Engineering labor, framed; installed pulling rope; set replacement pole; make ready work for messenger; installed pole guys; installed messenger; and installed spacer cable. 37. Elm Street — North Reading — Pole transfers and cutovers. Project complete. Substation Up_arade Proiects 38. 1151kV Insulator Replacement— Station 4 — Reading — Changed out insulators; linemen and senior tech's labor. 9. 11 5k Disconnect Replacement— Station 4— Reading — No activity. 1 11. Transformer Replacement— Station 4 - Reading Part 1 — Contractual Labor— Part 2 — Procured Equipment— Part 3 — RMLD Labor— Part 4 — Feeder Re-Assignment— Underground work, switching and phasing. 23. 15kV Circuit Breaker Replacement— Project complete. New Customer Service Connections 12. Service Installations — Commercial/Industrial Customers-This item includes new service connections, upgrades, and service replacements for the commercial and industrial customers. This represents the time and materials associated with the replacement of an existing or installation of a new overhead service, the connection of an underground service, etc. This does not include the time and materials associated with pole replacements/installations, transformer replacement/installations, primary or secondary cable replacement/installations etc. This portion of the project comes under routine construction. Commercial services in February include 50 Concord Street, Wilmington, Brown's Crossing, Wilmington, and garages on Agostino Drive, Wilmington. 13. Service Installations — Residential Customers— This item includes new or upgraded overhead and underground services, temporary overhead services, and large underground development. 14. Routine Construction —The drivers of the Routine Construction budget category YTD are listed. This is not an inclusive list of all items within this category. Pole Setting/Transfers $158,810 Maintenance Overhead/Underground $238,302 Projects Assigned as Required $33,683 Pole Damage (includes knockdowns) some reimbursable $28,470 Station Group $9,709 Hazmat/Oil Spills $0 Porcelain Cutout Replacement Program $23,407 Lighting Street Light Connections $27,908 Storm Trouble $9,059 Underground Subdivisions $42,948 Miscellaneous Capital Costs $265,838 TOTAL $838,134 *In the month of February, six cutouts were charged under this program. Approximately 29 cutouts were installed new or replaced because of damage making a total of 35 cutouts replaced this month. 2 Reliability Report Two key industry standard metrics have been identified to enable the RMLD to measure and track system reliability. A rolling 12-month view is being used for the purposes of this report. Customer Average Interruption Duration Index (CAIDI) — Measures how quickly the RMLD restores power to customers when their power goes out. CAIDI = Total of Customer Interruption Duration for the Month in Minutes/Total number of customers interrupted. RMLD 12 month system average outage duration — 45.82 minutes RMLD 4 year average outage (2006-2009)— 50.98 minutes per outage On average, RMLD customers that experience an outage are restored in 45.82 minutes. 80.00 - 70.6,6, d 70.00 - 66:05 C 60.00 4 50.00 ea 40.00 60 O 30.00 1. O 20.00 �j 10.00 - 0.00 - N �-A S� ��\� P�0 g°�� O�� a°, p°c,� �a� F0 • Monthly minutes per outage --- RMLD 12 month system average outage duration 45.82 RMLD 4 year average outage duration 50.98 (2006-2009) 3 System Average Interruption Frequency (SAIFI) — Measures how many outages each customer experiences per year on average. SAIFI = Total number of customer's interrupted /Total number of customers. RMLD 12 month system average - .50 outages per year RMLD 4 year average outage frequency - .82 The graph below tracks the month-by-month SAIFI performance. 1.20 1.12 1.13 c 1.00 Z 0.80 0.6 0 0.60 0.54 0.35 W 0.40 Cr m LL 0.20 0.00 --�—RMLD monthly outage frequency --- RMLD 12 month system average outage frequency.50 RMLD 4 year average outage frequency.82 (2006-2009) Months Between Interruptions(MBTI) Another view of the SAIFI data is the number of months Reading customers have no interruptions. At this time, the average RMLD customer experiences an outage every 24 months. 4 O rn m CO Q Y O N C' O tD O o M M S M O p O N (p Y OVO r r r M to ei c o O 0 0 V O N O N T p 0 M O r � � O ? N w a tOD DJ o N T O o w0 o J Y v0" N N N O m w M M t00 O O N C7. 61 O O> 1:r O17 O v O r ( O V' O O e! O N C O Q D U M O fH N EH V/ 1R U1 VT In r fR (n r fR N r N M a 9 cn U � R N 0) o M cn p o r2Y �t CD In h to p O m G6 mm i� N D O O r t0 r N O r t\ W r M � N � A M M�N Vi 4�N J O a � o J C a fD In m O N r U L d m m o O� W p M N p Q a c6 N a K O W Q CJ m 0 M O M M M Nm IT U co m r c,4 O r M I`p o rnai - rn - O N p r O n o ua wN U N N w f 3 L 8, N o M O o co o N o O to co o � r W N r O M M M r O O O c1i m O v co o N N N M K O 17 _ Q y G O m m o N o G' o N o r o cc (4 N Q �- S u) Oi <G r m M O " W M IA N O W O Q r N r CO N { N co h Q� r NN ll c:5 r � O �N r IR N cnW K N J Q ul O] N wC7 O M � N Z O N O c O n c N O o p o N W o W WcD O x � � O Q01 d. r r O r O r z N ,y,vp'y �� W o W a, N r O N �T Q z a M n z x t� rn z w w w IL J at a g o o as OF' tSJ U CD q S = J Lu (D LL J J 6 d Ur z a W W w d W U w U W z y a C7 t7 C) U U Z_ 0 z C� a z a Q U as a U j a W a w O a w U U U 5 a J V U J (Sj W 0 J (xj W J U W 0 J U W O J U W LL O C7 m S a w S W OU m x W O 0] S W m W W m S W z W p Q Y O Q Y LL Q Q Y LL m a 2- w LL O Q LL w Q LL 3 r Q r f p - r z p a , m o o K p E F o p a W O W Q O w m O w W O W O W O W z r- a z Jeanne Foti From: Vincent Cameron Sent: Monday, March 21, 2011 11:17 AM To: Mary Ellen O'Neill; Richard Hahn; Phil Pacino; Bob Soli; Gina Snyder Cc: Bob Fournier; Steve Kazanjian; Lee Ann Fratoni; Jeanne Foti; Jane Parenteau; Jared Carpenter Subject: FW: Account Payable-March 18 Soli 1. Rubin & Rudman -What is a "privilege log"? A privilege log is a record of documents that are considered undiscoverable(protected)during the discovery phase of an arbitration case. O'Neill 1. Energy Egghead - If we do more of these types of audits, will be going out for bid? The energy audit service has already been bid for a one year period. There is no need to go out again until the contract runs out. 3/21/2011 ra�c 1 ULl Jeanne Fob From: Vincent Cameron Sent: Monday, March 07, 2011 11:12 AM To: MaryEllen O'Neill; Richard Hahn; Phil Pacino; Bob Soli; Gina Snyder Cc: Bob Fournier; Beth Ellen Antonio; Jane Parenteau; Jared Carpenter; Lee Ann Fratoni; Jeanne Foti Subject: FW:Account Payable Questions - March 4 Hahn 1. Rubin + Rudman -What is "cloud"? If a confidential code name for some project, please explain in next Executive Session. This invoice is for the review of the invoice Cloud contract. Invoice Cloud is the company the RMLD has contracted with to obtain lower charges for credit card payments and will also enable the RMLD to provide paperless billing. 2. Town of Reading Treasurer's Office- Please explain this invoice is confusing. This is the bill for health insurance costs for the RMLD. The Town of Reading overcharged the RMLD so we made the correction. Snyder 1. Accurate Calibration - Check.on-timeliness of P.O. This item is for technical support for the calibration equipment the RMLD Meter Department uses. The support is for 2011 and a PO wasn't cut for it until 2/28/11. We told Accurate Calibration to make sure next year's bill for the technical support agreement is sent to a specific.contract who will process the PO upon receipt of the invoice. 2. Jared Carpenter-What is the significance of the 9/29/10 letter attached? The letter-is from the Federal Energy Regulatory Commission and addresses third party aggregators of demand response. Jared's expense,report includes attending a meeting related to third party aggregators. 3. Health Resources- Do we have a medical monitoring program? The RMLD screens new employees but I don't understand your question about a medical monitoring program. 3/7/2011 Jeanne FoU From: Vincent Cameron Sent: Thursday, March 17, 2011 10:58 AM To: Mary Ellen O'Neill; Richard Hahn; Phil Pacino; Bob Soli; Gina Snyder Cc: Bob Fournier; Lee Ann Fratoni;Jeanne Foti; Steve Kazanjian Subject: FW: Account Payable Warrant_March 11 Snyder 1. Caliper-What is a Cluster Graph Report+where.is the PO? This is a personality profile test for new employees. In the past we did not cut a PO but we will be doing it going forward. 2. Kamco-What were the ceiling tiles+paint for? We needed to replace some damaged ceiling tiles and paint some walls that needed touch up.. Soli 1. Customer Refunds-Why have we started printing cover sheets for'singie requests when they were previously weren't used? These sheets have always'been printed but were not attached to the single bilis. They were attached mistakenly last week. 2. Regular Warrant-Same question as above. So what changed? An additional piece of .paper*is printed, someone.collates that sheet with a single invoice,the 2 are paper-clipped together,and Commissioners lift that piece of paper to see that invoice was signed. Extra labor, extra.paper-to what end? Haw many extra trees are being cut down? The billing program code would have to be changed substantially so that only sheets for multiple invoices from one customer are printed. 3. Rubin & Rudman -Peak project- I thought that it was now dead. The project is not dead. As stated to the Board previously we are performing some very preliminary studies for the site and water supply. 3/17/2011 Jeanne Fob From: Vincent Cameron Sent: Tuesday, February 22, 2011 10:49 AM To: Mary Ellen O'Neill; Richard Hahn; Phil Pacino; Bob Soli; Gina Snyder Cc: Bob Fournier; Lee Ann Fratoni; Jeanne Foti; Jane Parenteau;Joe Donahoe Subject: Answer to,Payables 2-22-11 Snyder 1. CMEEC-What is CMARS? CMARS is a database computer programmanaged by CMEEC that the RMLD uses to mine data from ISO - NE. The RMLD, BELD, TMLP, and CMEEC paid to have this program developed and work is needed.to be performed on the program from time to time. Several companies pay to use the CMARS program so at times the RMLD receives a credit. And there are times when the CMARS program needs work and the RMLD pays their share of the work. 2. JCM Realty- Isn't it unusual to pay the taxes and rental property? Why aren't we using our own insurance? No it isn't unusual to pay insurance and taxes for rental property. It is in our agreement with the Barbas Company. I don't think it would be wise for the RMLD to spend money to insure a portion of the Barbas Warehouse. That,would be the responsibility of Barbas. The RMLD property insurance covers the.RMLD equipment inside the warehouse. The Barbas company insures their building and we pay our share of that. Neither,the Barbas Warehouse taxes or insurance�is>included in the rent. 2/22/2011 Jeanne Fob From: Vincent Cameron Sent: Thursday, March 03, 2011 12:02 PM To: Mary Ellen.O'Neill;, Richard Hahn; Phil Pacino; Bob Soli; Gina Snyder Cc: Bob Fournier; Lee Ann Fratoni; Jeanne Foti; Steve Kazanjian Subject: Payables and Payroll Questions for 2128/11 Snyder 1.0 Cogsdaie-What is this program and who,pays the other 75%? Is this bill for the entire 2011? How does Altico fit in? (There Bill references the same software.) This is the RMLD's Customer Information and Financial Billing System. The percentage amount of the invoice is derived from taking the initial purchase price of each software module and paying 25%of that as the cost for annual maintenance and support,This percentage reflects the software industry standard charge . A portion of the program was purchased from a local reseller named Altico. As stated on the invoice it is for calendar 2011. Payroll O'Neill 1.0 The employee listing on the warrant and on the"payroll overtime costs"sheet do not correlate exactly. The latter.should be updated. The RMLD records the overtime costs on a fiscal year basis. We will update the fist for present employees. If an employee leaves during the fiscal year their name is kept on the overtime list for accounting purposes. If an employee changes divisions or departments the names may show up twice on the list. At the beginning of the next fiscal year the list will be updated. 3/3/2011