USA > Massachusetts > Middlesex County > Reading > Town of Reading Massachusetts annual report 1922 > Part 18
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Prepaid Insurance
This represents the unexpired portion of insurance premiums in force as at December 31, 1922.
Bonds
Additional bonds were issued under date of .December 15, 1922 amounting to $7,000.00 for the purpose of additions to property. There was $12,500.00 bonds retired in 1922 making a net decrease of $5,500.00.
Notes
No notes were issued in 1922 and $4,300.00 were retired in same period.
Accounts Payable
A detailed list was made and the total set upon the books. In the past bills were not recorded until paid; therefore, no Accounts Payable balance was shown from month to month. At the end of each year a summary of unpaid bills was made and spread upon the books as at De- cember 31st. A new voucher record system was installed on January 1, 1923, in which all evidence of debt will be recorded as soon as ap- proved. This will show on monthly statement the exact amount of bills unpaid and reflect more correctly each month's operation.
Consumers' Deposits
This account should represent all money received from consumers to insure payment of debt to the Light Department, and should be de- posited in separate bank account, interest accumulations to be added to the fund and interest payments due the consumer should be made from the same account. The law requires a payment of 4% per an- num on all funds so received and retained for a period of more than six months. A very careful record of this account should be kept and a card form is submitted and suggested it be put in immediate opera- tion. This account was examined and a difference of eighty cents was found; adjustment was made January 1st, 1923.
Accrued Interest On Bonds & Notes
This represents accrued interest on outstanding bonds and notes as at December 31 ,1922, but not due.
314
General
Owing to the fact that the Department of Public Utilities have ordered a Uniform System of Accounts for all Public Utilities, a great many changes were made on the books and records during the year 1922. New forms were installed during the year and others will be set up so as to completely conform with requirements of the Public Utili- ties Commission.
A complete "work order" system, perhaps not advisable at present, should be given serious consideration, as it has proved successful, a saving of time, and beneficial in furnishing immediate knowledge of all operations.
A change in office employees was made late in the year, and this oc- casioned an extra amount of study and overtime work in order to pre- pare books and accounts for the year's record. I extend to Mr. Sar- gent, the new accountant, my full appreciation of his courtesy and as- sistance, and congratulate the Board in being able to secure a party so able and interested in the work at hand.
The enclosed reports, I believe to accurately represent the condi- tion of the Light Department of the Town of Reading, with exceptions as herein noted.
Respectfully submitted, CHAS. E. STANWOOD, Public Accountant.
SCHEDULE A TOWN OF READING-MUNICIPAL LIGHT DEPARTMENT BALANCE SHEET, DECEMBER 31, 1922
Assets
Liabilities
INVESTMENTS:
301-Appropriations
for
Construc-
PLANT INVESTMENT
$ 30,678.26
111-Land
$
2,575.80
$133,000.00
113-Structures
20,658.81
303-Notes Payable 13,900.00
Generating Plant-Steam:
114-Boiler Plant Equipment
41,966.73
Total Bonds and Notes
146,900.00
115-Prime Movers and Auxil- iaries .
20,230.32
308-Accounts Payable
16,097.29
116-Turbo-Generator Units .
31,547.66
309-Consumers' Deposits
872.05
117-Electric Plant-Steam ยท
21,416.02
Transmission,
Distribution
&
Total Current Liabilities .... ACCRUED LIABILITIES
16,969.34
Storage:
125-Poles, Fixtures & Overhead Conductors
133,337.54
128-Consumers' Meters
27,505.60
129-Consumers' Meter Installa- tion
3,745.24
130-Line Transformers
25,669.08
131-Transformer Installation .
3,392.92
Utilization Equipment :
132-Street Lighting Equipment 12,625.23
Total Liabilities 385,209.44
PROFIT & LOSS:
400-Profit and Loss, Balance
.
11,441.13
314-Interest on Bonds & Notes .
1,661.84
Total Accrued Liabilities .. APPROPRIATED SURPLUS 322-Loans Repayment 189,000.00
1,661.84
Total Appropriated Surplus .. 189,000.00
Total Plant Investment .. $344,670.95
tion 302-Bonds
CURRENT LIABILITIES
SCHEDULE A (Continued)
General Equipment: 150-Office Equipment $1,981.50 153-Transportation Equip- ment 1,800.00 3,781.50
Total Investments $348,452.45
CURRENT ASSETS:
204-Construction Fund
153.45
205-Consumers' Deposit Fund 872.85
207-1-Accounts
Receivable-
Light & Power
... $12,613.78
207-2-Accounts
Receivable-
Miscellaneous
5,457.34
18,071.12
209-Material & Supplies: 209-1-Material & Sup- plies, General ......
9,929.34 209-2-Station Tools and Appliances ... 467.95 209-3-Distrib't'n Tools & Appliances .... 1,411.69 209-4-Printing & Of- fice Supplies 433.77 209-6-Coal Supply- Electric 7,475.23
209-9-Station
Sup-
plies
936.08
209-10-Lamps & Ap- pliances 5,570.32 209-11 - Transporta- tion Supplies ..... 178.96 26,403.34
Total Current Assets 45,500.76
PREPAID ACCOUNTS:
213-Insurance, General
2,697.36
Total Prepaid Accounts
2,697.36
Total Assets
$396,650.57 Total Liabilities & Profit & Loss Balance $396,650.57
318
SCHEDULE B TOWN OF READING-MUNICIPAL LIGHT DEPARTMENT CONDENSED STATEMENT OF OPERATIONS-12 MONTHS ENDED DECEMBER 31, 1922
REVENUE FROM SALE OF ELECTRIC ENERGY :
501-1-Comm. Incand. Lighting Meter $ 90,089.10
501-2-Power for Motors 25,524.46
501-3-Heating & Cooking 8,213.43
504 -- Power for Other Electric Companies 197.82
505-1-Public Incand. Lighting
27,610.06
505-2-Municipal Lighting 2,116.63
505-3-Municipal Power
1,753.64
Total Revenue from Sale of Electric Energy
$155,505.14
REVENUE FROM MISC. ELECTRIC OPERATIONS: 508 -- Rental of Pole Lines 451.50
Total Revenue from Misc. Elec. Operations
451.50
500-Total Electric Operating Revenues
155,956.64
ELECTRIC OPERATING EXPENSES:
Production
$ 55,137.36
Transmission and Distribution
18,027.32
Utilization
4,445.72
Commercial
6,777.48
New Business
134.10
General and Miscellaneous
31,578.00
600-Total Electric Operating Expenses
116,099.98
Net Operating Revenue
39,856.66
Ratio Operating Exp. to Operating Revenue
74.44%
550-Uncollectible Operating Revenue .....
549.93
551-Taxes Assignable to Electric Operations
669.15
Net Operating Income
38,637.58
NON-OPERATING INCOME:
560-Merchandise and Jobbing Revenue . .
224.44
Gross Income
38,862.02
DEDUCTIONS FROM GROSS INCOME:
576-Interest on Bonds and Notes Payable
6,807.64
NET INCOME
$ 32,054.38
319
SCHEDULE C TOWN OF READING-MUNICIPAL LIGHT DEPARTMENT
Profit & Loss Account-Twelve Months Ended December 31, 1922 401-Balance January 1, 1922 $ 3,813.25
Credits :
Net Income
32,054.38
Total Credits
$ 28,241.13
Debits :
Bonds Paid
12,500.00
Notes Paid
4,300.00
Total Debits
16,800.00
400-Balance December 31, 1922
$ 11,441.13
SCHEDULE D TOWN OF READING-MUNICIPAL LIGHT DEPARTMENT Detail of Operating Income-Year 1922
Commercial Incand. Lighting Meter:
Reading
$ 60,640.49
Lynnfield Centre
5,356.26
North Reading
7,750.63
Wilmington
16,341.72
$ 90,089.10
Power for Motors:
Reading
20,843.95
Lynnfield Centre
257.98
North Reading
3,214.16
Wilmington
1,208.37
25,524.46
Heating & Cooking:
Reading
5,572.84
Lynnfield Centre
579.88
North Reading
909.35
Wilmington
1,151.36
8,213.43
Public Incand. Lighting:
Reading
15,300.00
Lynnfield Centre
1,694.94
North Reading
3,591.60
Wilmington
7,023.52
27,610.06
320
Power for Other Electric Companies:
Wakefield
62.11
Lowell
135.71
197.82
Municipal Lighting
2,116.63
Municipal Power
1,753.64
Total Revenue from Sale of Electric Energy
$155,505.14
SCHEDULE E TOWN OF READING-MUNICIPAL LIGHT DEPARTMENT Detail of Operating Expense-Year 1922
PRODUCTION EXPENSES
Steam Power Generation:
601-605-Labor
$ 17,294.36
606-Boiler Fuel
34,146.73
607-Water for Steam
80.00
608-Lubricants
140.95
609-Station Supplies and Expenses
1,273.53
611-Maint. of Station Structures
621.81
612-Maint. of Boiler Plant Equip.
1,031.98
613-614-Maint. Steam Eng. & Turbo-Gener- ator
243.42
615-Maint. Electric Generating Equip.
74.87
616-Maint. Accessory Elec. Equipment
229.71
Total Production Expenses
$ 55,137.36
TRANSMISSION & DISTRIBUTION EXPENSE
638-Oper. Trans. & Dist. Lines
3,755.50
639-Trans. & Dist. Supplies & Expense
507.70
640-Inspecting and Testing Meters
853.71
641-Removing and Resetting Meters
562.92
642-Removing and Resetting Transformers
342.64
647-Maint. of Trans. and Dist. Lines
6,692.17
647-Maint. of Trans. and Dist. Lines (storm)
4,662.73
650-Maint. of Consumers' Meters
145.56
651-Maint. of Transformers
504.39
Total Trans. & Dist. Expenses
18,027.32
UTILIZATION EXPENSE
654-Municipal Street Lamps, labor
743.24
655-Municipal Street Lamps, sup. & expense
2,457.87
657-Maint. Municipal Street Lamps
505.74
658-Maint. Consumers' Installations
738.87
Total Utilization Expenses
4,445.72
321
COMMERCIAL EXPENSES
660-Commercial Salaries
4,373.00
661-Commercial Supplies and Expense
2,404.48
Total Commercial Expenses
6,777.48
NEW BUSINESS EXPENSES
663-New Business Sup. and Expense
76.17
664-Advertising
36.00
665-Wiring & Appliances
21.93
Total New Business Expenses
134.10
GENERAL & MISCELLANEOUS EXPENSES
666-Salaries Mun. Lt. Board & Manager
3,026.89
667-Salaries General Office Clerks
2,080.00
668-General Office Supplies & Expense
381.26
670-Law Expense-General
27.24
671-Insurance
2,118.83
675-Transportation Expenses
4,623.21
678-Depreciation
17,959.59
679- Miscellaneous General Expenses
105.04
674-Stores Expense
273.24
676-Inventory Adjustment
934.05
673-Accidents &- Damages
48.65
Total General & Misc. Expenses 31,578.00
600-Total Electric Oper. Expense
$116,099.98
SCHEDULE F TOWN OF READING-MUNICIPAL LIGHT DEPARTMENT LIST OF BONDS & NOTES ORIGINAL ISSUE-AMOUNTS OUTSTANDING DEC. 31, 1922
Bonds
No. of
Issue
1st
Date Issued 10. 1-94
Original Amount $50,000.00
Payments on Principal $1,000 yearly 10 years $2,000 yearly 20 years $1,000 yearly 26 years
4 %
April Oct.
Establishing
Plant
$ 4,000.00
2d
10- 1-07
26,000.00
41/2%
April-Oct.
Additions
11,000.00
3d
7- 5-11
20,000.00
4 %
Jan .- July
Wilmington Lines
4th
10-15-13
23,500.00
$2,000 yearly 10 years $1,500 yearly 9 years $1,000 yearly 10 yrs, Oct. 15 $500 yearly Sept. 15
41/4%
April-Oct.
Station
10,000.00
5th
9-15-14
8,000.00
41/2%
March-Sept.
Reading
4,000.00
6th
5-15-16
10,000.00
$500 yearly May 15
4 %
May-Nov.
New Construction
7,000.00
7th
10- 1-17
55,000.00
$3,000 yearly Oct. 1
41/2%
April-Oct.
Additions
40,000.00
8th
1- 1-19
12,000.00
$1,000 yearly 4 years $500 yearly 16 years $1,000 yearly April 1
41/2%
Jan .- July
Additions
9,000.00
9th
4- 1-19
20,000.00
434 %
April-Oct.
Additions
17,000.00
Rate of Interest
Date of Int. Pay.
Purpose
Amt. outstand- ing 12-31-22
.
10th
5- 1-20
20,000.00
$1,000 yearly May 1 $1,000 yearly July 1 $1,000 yearly Dec. 15
5 %
May-Nov.
June-Dec.
Additions
7,000.00
$258,500.00
Notes
5- 1-96
$ 7,000.00
$1,400 yearly May 1
4
%
5- 1 & 11- 1
Construction of Plant
$ 0.00
2nd
5- 1-96
$ 7,000.00
$1,400 yearly May
1
%
5- 1 & 11- 1
Construction of Plant
0.00
3rd
12- -96
1,500.00
1,500 Dec. 9, 1897
4
%
Construction of Plant New
0.00
4th
7-15-98
3,000.00
1,000
July 15, 1901
3 3
%
7-15 & 1-15
2,000
July 15, 1904
3
%
7-15 & 1-15
Generator
0.00
5th
12- 7-03
1,400.00
1,400
Dec. 7,1906
4
%
6- 7 & 12- 7
4
6th
11-15-09
2,500.00
1,000
Nov. 15, 1910
1,500
Nov. 15, 1911
4
%
5-15 & 11-15
7th
1-21-10
1,800.00
1,800
Jan. 21, 1913
4
%
6-21 & 12-21
Construction
0.00
8th
7-12-11
2,200.00
2,200 July 12, 1912
4
%
1-12 & 7-12
Construction
0.00
9th
3-27-10
12,000.00
1,000 yearly Mar. 27
4
%
3-27 & 9-27
3,000.00
10th
4-16-13
13,500.00
1,500 yearly Apr. 16
414%
4-16-10-16
New Construction
0.00
11th
5-15-15
12,000.00
800 yearly May 15
4 %
5-15 & 11-15
New Construction
6,400.00
12th
7-15-15
4,000.00
500 yearly July 15
4
%
1-15 & 7-15
Reading
500.00
13th
9-22-17
6,500.00
500 yearly Sept. 22
5 %
3-22 & 9-22
New Construction
4,000.00
14th
11-20-19
3,000.00
1,500 yearly Nov. 20
41%
5-20 & 11-20
New Construction
0.00
$77,400.00
$13,900.00
11th
7- 1-21
7,000.00
6 %
Jan .- July
Additions
6,000.00
12th
12-15-22
7,000.00
41/2%
Additions
18,000.00
$133,000.00
1st
To take up note due May 1, 1903
0.00
Lynnfield Center Lines
0.00
North Reading Lines 1st pay't date Mar. 27, '13
INDEX
Accountant
Board of Assessors
104
Board of Health
114
Board of Public Works
51
Board of Selectmen
99
Chief of Fire Department
218 101
Chief of Police
Collector
198
Custodian of Veterans' Graves
215
Demonstration Work in Agriculture and Home Economics
230
Electric Light Commissioners
291
Forest Warden
225 229
Inspector of Animals
Inspector of Building
112 109
Inspector of Plumbing
228 110 9
Planning Board
Public Library
Sealer of Weights and Measures
School Committee
Superintendent of Fire Alarm
38
Town Clerk, Deaths Registered
48
Town Clerk, Marriages Registered
43
Town Clerk, Dogs Liscensed
37 12
Town Clerk, Town Meetings
Town Counsel
231
Town Forests
226
Town Officers
3
Treasurer 195
Tree Warden 224
Trustees Laurel Hill Cemtery 208
Visitor
111
Inspector of Milk
Inspector of Wires
List of Jurors
113 200 107 233 221
Town Clerk, Births Registered
Page 115
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