USA > Massachusetts > Middlesex County > Reading > Town of Reading Massachusetts annual report 1935 > Part 16
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419,046.41
Cost of Underground Conduits
51,407.52
Cost of Underground Conductors
44,813.68
Cost of Consumers' Meters
63,590.87
Cost of Consumers' Meters Installations
13,473.74
Cost of Line Transformers
62,217.07
Cost of Transformer Installation
7,294.04
$662,327.63
Utilization Equipment:
Cost of Street Lighting Equip. 39,381.91
Cost of Consumers' Premises Equipment . 428.99 $ 39,810.90
Total Cost of Electric Plant as shown by Books
$981,877.46,
COST OF DISTRIBUTION SYSTEM IN OUTSIDE TOWNS
North Reading
Total Investment December 31, 1935:
Poles, Fixtures and Overhead Conductors . $ 84,350.93
Consumers' Meters
11,599.47
Line Transformers
9,253.51
Street Lighting Equipment
3,143.96
$108,347.87
Lynnfield Center
Total Investment December 31, 1935:
Poles, Fixtures and Overhead Conductors . $ 36,430.43
Consumers' Meters
5,791.00
Line Transformers
2,964.64
Street Lighting Equipment
1,893.45
$ 47,079.52
Wilmington
Total Investment December 31, 1935:
Poles, Fixtures and Overhead Conductors . $127,717.73
Consumers' Meters
17,029.69
Line Transformers
10,147.72
Street Lighting Equipment
4,349.62
$159,244.76
Total Investments-Outside Towns
$314,672.15
Total Income-Outside Towns
$105,847.52
215
MATERIALS AND SUPPLIES
Line Materials $ 29,768.78
Electric Appliances-In Stock
20,015.21
Electric Appliances-In Consumers' Premises 6,750.55
Tools and Supplies
8,126.65
Coal 20.88
Total Materials and Supplies
$ 64,682.07
CASH BALANCES AT CLOSE OF YEAR 1935 PETTY CASH FUND
Petty Cash due Treasurer $ 250.00
OPERATION FUND
DEBITS
Balance at beginning of year $ None
Received from Sale of Electricity
247,644.16
Received from Appropriation for Street Lights
17,300.00
Received from Miscellaneous Items
54,408.44
Total Debits
$319,352.60
CREDITS
Expenditures for Operating $252,007.33
Bonds and Notes Paid
12,000.00
Town Treasurer-Transfer of Funds
19,488.35
Interest Paid
2,940.00
Amount Transferred to Depreciation Fund 27,986.65
Amount Transferred to Construction Fund
4,930.27
Total Credits Balance December 31, 1935
$319,352.60
$ None
DEPRECIATION FUND DEBITS
Balance January 1, 1935 $ 90.41
Amount Transferred from Income
27,986.65
Total Debits
$ 28,077.06
216
CREDITS
Amount Expended for Construction Purposes .
Amount Expended for Pole Renewals
$ 28,077.06 None
Total Credits $ 28,077.06
Balance December 31, 1935
None
CONSTRUCTION FUND
DEBITS
Balance January 1, 1935
$ 2,152.90
Transferred from Operation Fund
4,930.27
Total Debits
$ 7,083.17
CREDITS
Amount Expended for Construction Purposes ..
$ 3,486.24
Total Credits.
$ 3,486.24
Balance December 31, 1935
$ 3,596.93
SPECIAL CONSTRUCTION FUND
New Switch Board
DEBITS
Balance January 1, 1935
Received from Note Issue
$ None 20,000.00
Total Debits
$ 20,000.00
CREDITS
Amount Expended for Construction Purposes .
$ 20,000.00
Total Credits
$ 20,000.00
Balance December 31, 1935
$ None
217
TABLE A
Year
Income from
Sale of
Electricity
Income from
other Sources
Appropriations
from Tax Levy
Street Lights
Appropriations
from Tax Levy
Construction
Production
Distribution
Expense
Expense
Interest
Depreciation
Bond and
Note Payments
Total Cost
of Plant
December 31
1910
$25,668.87 $ 604.88 $10,000.00
$ 270.00 $13,228.57
$3,271.76 $4,429.32
$2,535.75
$3,556.00
$4,000.00
$135,992.62
1911
31,317.40
410.77
5,800.00
1,000.00
13,066.25
6,353.77
5,753.84
2,767.00
4,079.78
4,500.00
144,714.06
1912
37,171.93
599.07
5,000.00
5,500.00
17,546.87
5,605.41
5,605.18
3,018.21
4,143.80
7,200.00
173,091.96
1913
44,664.70
671.87
6,000.00
5,076.19
20,054.99
10,705.42
10,214.88
3,515.40
4,788.80
6,800.00
202,518.81
1914
49,799.75
791.14
4,500.00
4,132.07
19,014.03
7,784,82
8,697.05
4,453.33
6,051.08
9,000.00
233.509.58
1915
51,603.32
640.25
10,500.00
none
18,292.78
10,329.83
7,730.32
4,640.42 . 6,972.28
9,500.00
254,349.09
1916
61,900.01
911.69
5,000.00
none
22,261.19
13,986.22
8,316.39
4,704.99
7,597.47
10,800.00
269,898.27
1917
67,593.64
2,422.92
8,750.00
none
30,460.16
14,557.81
11,577.08
5,070.43
8,096.95
11,300.00
285,428.29
1918
78,096.09
1,537.86
11,000.00
none
41,006.13
13,572.51
11,311.54
6,882.24
8,529.85
14,800.00
348.871.08
1919
100,844.10
1,100.11
14,450.00
none
45,006.98
13,864.14
13,874.46
7,416.21
10,419.76
14,800.00
389,564.73
1920
126,152.11
1,094.66
11,000.00
none
56,187.74
17,085.95
17,142.48
7,850.70
15,507.13
18,300.00
421,048.20
1921
135,886.69
219.20
17,500.00
none
52,738.98
24,453.15
16,594.65
7,423.10
16,767.55
19,300.00
449,540.12
1922
155,505.14
675.94
15,300.00
none
55,137.36
22,473.04
21,749.07
6,807.64
17,959.59
16,800.00
477,852.76
1923
165,971.81
464.31
14,800.00
none
62,732.83
20,247.54 27,138.65
6,437.28
19,011.08
15,800.00
505,983.28
1924
177,889.16
1,373.72
12,000.00
none
61,286.63
25,898.28
32,451.22
6,174.57
20,136.30
15,800.00
530,147.28
1925
185,492.72
1,112.19
11,000.00
none
73,140.10
28,272.55
34,767.23
5,482.46
21,102.86
13,800.00
568,524.09
1926
201,956.03
3,421.99
12,000.00
none
88,478.94
29,349.46
34,513.46
5,100.14
22,637.93
12,800.00
615,915.35
1927
221,343.72
625.30
13,500.00
none
67,661.31
50,863.76
37,505.89
4,763.62
24,533.58
15,800.00
651,367.92
1928
228,414.97
585.27
13,500.00
none
67,410.22
63,361.23
44,676.08
4,062.79
25,951.68
14,800.00
682,234.74
1929
245,942.45
861.14
13,000.00
none
71,418.27
67,309.66
49,303.18
3,440.81
27,186.35
13,800.00
729,196.45
1930
266,891.46
1,995.34
12,000.00
none
79,991.86
77,764.90
48,720.62
3,148.66
29,064.82
12,800.00
767,809.12
1931
276,759.47
4,855.99
13,500.00
none
80,091.66
84,502.49
49,164.87
3,764.01
30,609.33
13,000.00
844,355.52
1932
286,622.54
6,334.73
15,960.00
none
83,281.13
71,776.97
53,993.36
3,772.50
33,671.19
15,000.00
875,155.91
1933
274,696.67
3,129.93
15,200.00
none
80,244.08
56,319.49
48,573.69
3,031.04
34,892.99
12,000.00
908,052.06
1934
264,735.32
3,553.44
13,800.00
none
86,120.77
70,772.83
48,265.75
2,906.05
36,219.05
10,000.00
935,464.20
1935
279,201.27
5,246.90
17,300.00
none
93,856.11
72,417.54
47,693.23
2,858.13
27.986.65
12,000.00
981,877.46
for
for
Expense
and Utilization
Miscellaneous
TABLE B
Year
K. W. H.
Generated
K. W. H.
Purchased
K. W. H. Sold
K. W. H.
Delivered to
Read'g. St. Lights
K .W. H. Used at
Stat'n. Stock R'm
& Appliance Rm.
K. W. H.
Unaccounted for
Net Tons of
Coal Used
Average Cost of
Coal Per Ton
Number of
Customers
Number of
Street Lights
Horse Power in Motors
1910
698,597
300,861
227,100
16,269
154,367
1,748.3
3.461
738
269
116 1-2
1911
771,011
367,317
244,055
15,403
144,236
1,807.6
3.341
888
382
215
1912
919,282
481,801
242,033
13,307
182,141
2,247.8
3.741
1,078
698
242 1-4
1913
1,045,592
599,893
255,744
15,283
174,672
2,680
3.941
1,263
903
272
1914
986,476
578,709
187,590
15,283
204,894
2,496.4
3.666
1,390
993
313 7-10
1915
980,688
548,607
156,505
10,403
265,173
2,298.2
3.578
1,599
1,181
381
1916
1,231,677
751,735
170,810
13,916
295,216
2,741.7
3.934
1,805
1,225
441
1917
1,291,216
812,507
168,535
12,464
297,710
3,086.7
6.348
1,964
1,295
492
1918
1,318,546
976,121
125,820
10,573
206,032
3,348.8
7.875
2,083
1,303
672
1919
2,056,834
1,358,028
172,948
189,067
336,791
3,640
7.517
2,333
1,339
886
1920
2,297,237
1,444,960
175,704
257,999
418,574
3,615
10,352
2,617
1,363
812.5
1921
2,193,092
1,471,698
178,892
146,205
396,296
3,308.4
10,171
2,939
1,473
1,120.5
1922
2,609,076
1,583,716
183,250
276,477
565,633
3,791.5
9.00
3,234
1,481
1,197.5
1923
3,039,677
3,520
2,046,848
183,935
342,189
470,225
4,577.7
8.94
3,666
1,494
1,367.5
1924
3,572,588
2,463,602
209,738
392,281
506,967
3,379.5
6.503
4,058
1,537
1,281.8
1925
4,051,182
25,495
2,848,309
241,476
383,152
578,245
6,317.7
6.358
4,472
1,572
1,395.2
1926
3,600,580
819,787
3,071,944
249,386
366,352
732,685
5,740.2
6.488
4,786
1,602
1,429
1927
406,693
4,396,397
3,676,545
261,361
58,249
806,935
947
6,609
5,017
1,635
1,630.9
1928
none
5,097,768
3,898,620
259,482
25,625
914,041
204
6,354
5,085
1,655
1,723.5
1929
103,985
6,362,853
5,240,360
278,217
56,368
1,163,488
378
6,783
5,221
1,723
2,354.25
1930
none
7,050,708
5,355,542
298,730
52,117
979,492
150
5.75
5,380
1,758
1,592
1931
none
6,885,880
5,640,426
324,162
51,932
857,870
145.8
5.04
5,487
1,762
2,527
1932
none
7,324,775
6,292,489
422,748
57,926
971,974
129.9
4.91
5,547
1,806
2,275
1933
none
7,213,269
6,259,657
375,574
63,444
890,168
92.5
4.53
5,652
1,827
2,165
1934
none
7,516,389
6,522,197
407,660
69,229
924,963
91.5
5.75
5,626
1,864
1,907
1935
none
7,973.642
6,856,394
496,218
70,351
1,046,896
127.
6.34
5,741
1,912
1,900
(Estimated)
TABLE C Production Costs Per K. W. H. Based on Total K. W. H. Delivered at
Switchboard
K. W. H.
Year
Purchased
Fuel
Labor
Repairs and other Total Station Expense Costs
1910
.0086
.0075
.0026
.0187
1911
.0078
.0069
.0021
.0168
1912
.0091
.0071
.0027
.0189
1913
.0101
.0070
.0020
.0191
1914
.0092
.0082
.0017
.0191
1915
.0085
.0087
.0013
.0185
1916
.0087
.0071
.0022
.0180
1917
.0144
.0075
.0015
.0234
1918
.0200
.0085
.0025
.0310
1919
.0133
.0066
.0019
.0218
1920
.0162
.0071
.0009
.0242
1921
.0153
.0077
.0009
.0240
1922
.0131
.0066
.0014
.0211
1923
.0134
.0057
.0014
.0205
1924
.00979
.0055
.00166
.01695
1925
.00991
.0054
.00272
.01803
1926
.0285
.01034
.0056
.00212
.0200
1927
.01116
.01205
.00246
.00390
.01743
1928
.01227
None
.00170
.00225
.01622
1929
.01051
.01444
.00141
.00150
.01349
1930
.01106
None
.00124
.00127
.0136
1931
.01134
None
.00128
.00027
.0129
1932
.01107
None
.00119
.00027
.0125
1933
.01094
None
.00107
.00017
.0122
1934
.01120
None
.00125
.00025
.0127
1935
.01162
None
.00117
.00015
.0129
220
TABLE D Average Cost Per K. W. H. As Defined by Chapter 164, General Laws
1912
1913
1914
1915
1916
1917
1918
1919
Operating Costs :
.0397
.0483
.0362
.0586
.0467
.0577
.0538
.0509
Fixed Costs :
.0198
.0176
.0254
.0299
.0261
.0249
.0274
.0213
Total Costs
.0595
.0659
.0616
.0885
.0728
.0326
.0812
.0722
1920
1921
1922
1923
1924
1925
1926
1927
Operating Costs :
.0588
.0640
.0561
.0494
.0377
.0442
.0448
.0395
Fixed Costs :
.0259
.0330
.0278
.0185
.0138
.0131
.0129
.0115
Total Costs :
.0817
.0970
.0839
.0679
.0515
.0573
.0577
.0510
1928
1929
1930
1931
1932
1933
1934
1935
Operating Costs :
.0414
.0359
.0344
.0368
.0332
.0295
.0315
.0320
Fixed Cost
.0016
.0085
.0075
.0079
.0083
.0030
.0075
.0063
Total Costs :
.0530
.0444
.0419
.0447
.0415
.0375
.0390
.0383
VOUCHER REGISTER BALANCE DECEMBER 31, 1935
Totals
December
November
Oct. and Previous
Edison Elec. Illum. Co.
28,844.26
10,267.24
9,533.30
9,043.72
Hazard Insulated Wire
Works
18.00
18.00
General Cable Corp. ..
15.29
15.29
Wetmore-Savage Div. .
1,573.02
254.71
475.84
842.47
Kelvinator Corp. . . .
363.13
102.78
216.55
43.89
Milhender, Inc.
2,100.27
192.83
650.92
1,256.52
W. L. Thompson, Inc. .
313.50
161.00
152.50
Dyer-Clark Co.
83.84
61.16
22.68
General Electric Co. ..
214.97
20.00
.40
194.57
Hygrade Sylvania Corp.
622.96
152.72
470.24
The Texas Company ..
485.15
143.05
122.70
219.40
Bigelow & Dowse Co. .
16.77
16.77
Geo. H. Buckminster Co.
405.77
75.89
66.92
262.96
Kellogg Mfg. Co. ....
. .
45.03
45.03
George H. Wahn Co. ..
459.55
55.69
25.86
378.00
Boston Review
215.00
40.00
25.00
150.00
Taylor Calhoun Co.
191.51
11.07
41.56
222.00
Chase, Parker & Co. ..
7.50
7.50
Decatur & Hopkins Co.
461.94
156.04
159.32
146.58
221
Oct. and Previous
Totals December November
Gallant's Electric Motor Service
18.25
14.25
4.00
H. B. McArdle
19.45
11.60
7.85
L. E. Muran Co.
9.13
2.78
6.35
Reading Chronicle
222.59
8.88
71.43
142.28
Sager Elec. Supply Co.
257.32
157.10
27.01
73.21
Simplex Wire & Cable Co.
165.65
78.55
8.05
95.15
Woburn Machine Co. ..
19.70
5.50
10.24
3.96
E. B. Currell & Son ..
53.00
20.15
32.85
Delande's Electric & Plumbing Sup. Co.
45.06
7.14
37.92
Electromaster, Inc. ..
57.07
12.49
1.61
42.97
T. C. Fife
94.25
17.94
1.86
74.45
General Electric Supply Corp.
57.32
17.28
12.20
27.84
Landers, Frary & Clark
119.48
118.82
.66
Edward Lappin
97.13
12.57
23.85
60.71
Shine-All Sales Co.
53.25
5.75
47.50
Fred F. Smith, Inc. . . .
146.13
146.13
Wagner Electric Corp. .
5.24
5.24
Wilmington News . . . .
66.50
31.50
35.00
N. E. Tel. & Tel Co. (Const. Items) . . .
478.15
61.03
16.00
401.21
Butts & Ordway Co. ..
43.20
43.20
Calif. Stucco Products .
64.25
1.75
66.00
Clapp & Leach, Inc. ...
391.31
115.71
177.19
A. E. Martell Co., Inc. .
63.96
1.82
62.14
W. N. Matthews Corp. .
72.40
20.40
52.00
Roovers Bros., Inc. .... Christian Science Pub. Society
10.50
3.50
3.50
3.50
Hynes & Cox Electric Corp.
18.18
18.18
A. J. Lindermann &
14.91
1.19
12.97
.75
Lowell Electric Light
58.84
58.84
Petroleum Heat &
108.38
61.57
30.31
16.50
Town of Reading, Sewer
7.23
7.23
Robbins-Phalon Co. ..
32.34
4.90
26.65
.79
11.81
11.81
Hoverson Co.
Corp.
Power Co.
Dept.
98.41
222
Totals December
November
Oct. and Previous 22.00
Rochester Germicide Co.
22.00
Andren-Myerson Corp
9.00
9.00
Hodson Brothers
9.95
9.95
Olmstead-Flint Corp. ..
7.38
7.38
Reading Motor Co.
. ..
54.61
20.06
5.45
29.10
A. Werby Co.
45.00
45.00
Allis-Chalmers Mfg. Co.
1.26
1.26
Wendell Bancroft & Co.
70.05
55.62
.54
13.89
Buckwalter Stove Co. .
1.49
1.49
M. F. Charles
16.95
2.65
14.30
Ralph R. Currier
5.60
5.60
Davis Emergen'y Equip. Co.
4.38
4.38
Des Roberts Electrical Supply Co.
278.90
194.75
84.15
Detroit Vapor Stove
10.65
9.62
1.51
.48
Dockam Express Co. ..
1.25
.75
.50
Electric Motor Service Co.
4.50
1.48
3.02
Golden Bell Cleaners, Inc.
4.47
3.49
.49
.49
T. C. Guinan
5.05
1.26
3.79
Hook & Coward
58.57
49.44
8.40
.73
Kenney Service Station
11.00
5.10
4.05
1.85
Line Material Co.
4.62
2.91
1.71
George W. Marshall ..
9.35
4.50
4.85
Upson-Walton Co.
10.82
10.82
Van Praag Sales Corp.
5.24
5.24
B. F. Waldron & Son .
1.47
1.47
Alex Lindsay
1.00
1.00
Addressograph Co. . ...
15.76
15.76
Boston Janitor's Supply Co., Inc.
2.92
2.92
Henry Jenkins Trans. Co. ..
5.29
5.29
Liberty Mutual Ins. Co.
628.66
626.91
1.75
Walker & Pratt Mfg. Co.
14.00
14.00
. .
223
Division
Oct. and
Totals December November Previous.
Premier Vac. Cleaner Co. ..
1.64
1.64
J. Brinton Bailey
29.56
7.00
22.56
Wm. Blanchard Co. . .
2,50
2.50
C. I. Brink
4.50
4.50
Farrington Electric Co.
3.50
3.50
Graybar Electric Co. ..
242.17
137.75
104.42
The Hardy Co.
2.50
2.50
Howe & French, Inc. ..
8.31
8.31
Harry E. Smith, Inc. ..
23.40
23.40
Virginia Smelting Co. ..
5.95
5.95
Boston Transcript . .
80.00
80.00
Dayton Pump & Mfg. Co.
2.59
2.59
Diadem Surgicals, Inc.
13.22
13.32
Eureka Vac. Cleaner Co.
11.62
7.68
3.94
Laing Chevrolet Co. ..
10.73
10.73
H. S. Macomber Co. ..
2.20
1.90
.30
Westinghouse Electric & Mfg. Co. . . . .
27.23
27.23
Winchester Repeating Arms Co.
5.94
5.94
George H. Ball Co. . . .
.25
.25
Dickie-Raymond, Inc. .
114.00
114.00
Max G. Horovitz Co. .
21.75
21.75
Manning-Bowman & Co.
.85
.85
William J. Sullivan ...
3.00
3.00
Unique Mfg. Co., Inc. .
2.58
2.58
Henry Blethen
26.54
26.54
R. S. Hanks
47.00
47.00
Paper Makers Chemical Corp.
1.70
1.70
Sweeper-Vac Co.
41.40
41.40
D. M. Laffin
8.40
8.40
Law & Ingham Trans. Co.
1.50
1.50
224
Oct. and November Previous
Totals December
McBee Co.
1.58
1.58
Mutual Public Service Co.
31.50
31.50
Town of Reading, High- way Dept.
21.00
21.00
Stanwood-Hillson Corp.
51.41
51.41
N. E. Tel & Tel. Co. (Service Items) ..
103.99
103.99
Van I. Bennett
5.31
5.31
Boston Easy Washer Distributors, Inc. ..
.90
.90
Davis & Abbott
4.00
4.00
Dover Mfg. Co.
1.39
1.3
Edson Corp.
44.77
44.77
Donald W. Foster
16.00
16.00
Martin B. Hartshorn ..
1,769.53
1,769.53
Industrial Products Co.
6.93
6.93
Malone Bros. Co. ....
1.98
1.98
National Enameling & Stamping Co. ..... Phelps, Dodge Copper
1.77
1.77
Products Corp. ....
83.78
83.78
L. B. Philbrick Co. .... Webster-Thomas Co. .. Burnby Engineering
15.23
15.23
18.77
18.77
Co., Inc.
13.35
13.35
Albert E. Mace Co., Inc.
5.20
5.20
McGunigle & Tounge, Inc.
10.09
10.09
Jos. T. Ryerson & Son, Inc.
13.48
13.48
Waldo Bros. Co.
. .
9.90
9.90
Malden Morris Plan Co.
138.20
138.20
Henry Doucette
6.95
6.95
Frank Rossman
5.45
5.45
J. M. Maxwell, Jr., & Son
45.41
45.41
.
...
225
Oct. and
Totals
December
November Previous
Reading Messenger
15.00
15.00
Petty Cash
27.61
27.61
Boston & Maine R.R.
4.01
4.01
Electric Power Equip- ment Corp.
149.75
149.75
Estate Stove Co.
.32
.32
General Motors Truck Co.
15.34
15.34
Johns-Manville Corp.
Sales
1.35
1.35
Mathias-Hart Co.
17.72
17.72
Prescott R. Nichols
2.26
2.26
Taylor Instrument Co's.
.94
.94
B. F. Waldron & Son ..
11.11
11.11
Oliver Whyte Co.
22,50
22.50
Dominick Zanni
6.00
6.00
G. H. Atkinson Co. ...
7.50
7.50
H. N. Hartwell & Son, Inc.
151.95
151.95
W. E. Johnson
1.25
1.25
Hills-McCanna Co. .
14.50
14.50
Post Publishing Co. ..
1.75
1.75
Service Recorder Co. ..
6.50
6.50
Brooks' Express ......
12.55
12.55
Railway Exp. Agency .
2.62
2.62
Condit Electrical Mfg. Corp.
50.65
50.65
Francis Brothers
18.70
18.70
H. J. Montgomery ....
33.16
33.16
Decatur & Hopkins Co.
(as of Jan. 1, 1936)
757.98
757.98
$ 44,952.97 $ 17,456.14 $ 12,857.55 $ 14,639.28
226
TOWN OF READING MUNICIPAL LIGHT DEPARTMENT REPORT OF EXAMINATION For the Year Ended Dec. 31, 1935.
Jan. 29, 1936
To the Municipal Light Board, Town of Reading,
Massachusetts. Gentlemen :
We have examined the books of account and financial records of the Municipal Light Department of the Town of Reading for the year ended December 31, 1935, and submit herein our report consisting of the following exhibits, schedules, comments and explanations. Exhibits:
"A"-Comparative Balance Sheet as at December 31, 1935 and 1934.
"B"-Comparative Statement of Operations for the years ended December 31, 1935 and 1934.
"C"-Comparative Statement of Profit and Loss for the years ended December 31, 1935 and 1934.
Schedules:
"1"-Comparative classified statement of Income for the years ended December 31, 1935 and 1934.
"2"-Comparative classified statement of operating expenses for the years ended December 31, 1935 and 1934.
"3"-Detail of bonds and notes authorized, issued and outstanding as at December 31, 1935.
"4"-Comparative statement of merchandise operations for the years ended December 31, 1935 and 1934.
"5"-Comparative detail of kilowatt hours purchased, sold, used and unaccounted for, for the years ended December 31, 1935 and 1934.
227
COMMENTS AND EXPLANATIONS OF ASSETS AND LIABILITIES
PLANT INVESTMENT-$540,727.56.
Changes in plant investment accounts during the year may be sum- marized as follows :
Balance January 1 Net
Balance December 31
Account
1935
Additions
preciation
1935
Land
$ 2,575.80
$ .00
$ .00
$ 2,575.80
Structures
18,697.72
.00
550.59
18,147.13
Structures-Garage and Storeroom
14,214.10
.00
342.30
13,871.80
Boiler Plant Equip. . .
11,161.46
.00
4,181.80
6,979.66
Prime Movers and
Auxiliaries
4,682.15
100.00
1,740.80
2,841.35
Turbo-Generator Units
6,845.98
.00
2,812.24
4,033.74
Elec. Plant-Steam . .
24,887.22
.00
3,508.81
21,373.41
New Switchboard . ..
.00
33,757.41
.00
33,757.41
Overhead Conductors
241,031.65
12,191.50
6,646.89
246,576.26
Transformer Station
and Substation Equip.
484.30
.00
14.53
469.77
Underground Conduits
48,181.03
910.39
1,009.94
48,081.48
Underground Conduct- tors
42,341.39
575.09
1,327.16
41,589.32
Consumers' Meters . . . .
34,979.91
1,500.89
1,862.70
34,618.10
Consumers' Meter In- stallations
7,592.52
1,181.31
368.77
8,405.06
Line Transformers
37,787.93
799.15
1,842.54
36,744.54
Transformers Install's.
4,211.48
469.83
204.73
4,476.58
Street Lighting Equip.
16,701.37
1,014.00
1,534.72
16,181.15
Consumers'
Premises
38.13
.00
38.13
.00
Equipment
TOTALS
$516,414.64 $ 52,299.57 $ 27,986.65
$540.727.56
Elec. Plant-Steam-
Poles, Fixtures and
De-
228
In our opinion, the additions to these accounts represent proper charges to capital.
Depreciation on plant investment accounts, based on 3% of the cost at beginning of year, exclusive of land, was charged to operations for the year. Depreciation is applied directly against the asset ac- counts and accordingly the balances shown in Exhibit "A" of this re- port represent depreciated values.
Included in the additions to plant accounts for the year is $33,- 757.41, representing the cost of installation of a new switchboard and additional feeder regulators at the power station. At a meeting of the voters of the Town held in March, 1935, it was voted to appropri- ate $20,000.00 for the above installation, and the Town Treasurer did borrow this amount, issuing as evidence of the indebtedness $20,000.00 of 1-3/4% notes. In addition to the above amount borrowed for this installation, it is necessary to draw on the Depreciation and Construc- tion Funds to the amount of $13,757.41.
Other additions to plant accounts represent additions and im- provements necessary in the regular conduct of the Department and to take care of increased business.
General Equipment-$13,087.70
With the exception of "Office Equipment account" the items comprising the general equipment balance have been inventoried at December 31, 1935 and book accounts adjusted to conform with those inventories. Depreciation of Office Equipment was charged to ex- penses for the year at the rate of 5% of the book value at the be- ginning of year.
Unfinished Construction-$2,769.13
Expenditures on account of construction work incompleted as at December 31, 1935 comprised the following :
Plans for proposed 4,000 volt switching equipment $ 185.00 Cost of temporary tie-in at the station of the over-
head and underground systems 2,584.13
Total
$ 2,769.13
Construction Fund-$3,596.93
In accordance with article 4 acted upon at a meeting of the voters of the Town held in March, 1935, the balance of the Operating Fund was transferred to the Construction Fund. The balance of the Con- struction Fund at December 31, 1935 was confirmed by the Town Ac- countant.
"Bills Approval Sheets" were examined and additions and entries in the cash book for the year were thoroughly tested.
229
Petty Cash Fund-$250.00.
Funds held in the office for the purpose of petty expenditures and making change were counted on January 9, 1936 and were found to be substantially in agreement with the above amount.
Customers' Deposit Fund-$7,518.81
This amount represents the balance as at December 31, 1935 of funds deposited by customers to guarantee payment of bills owing this department. The above balance was on deposit with the Mechanics Savings Bank, verification of which was made by reference to a pass book issued by that institution.
Notes Receivable-$805.18.
The balance of this account as shown by the books of account comprised the following :
Int.
Date
Maker
Maturity
Amt. Rate
November 10, 1933
Fred L. Norris
Demand
$ 356.75
6%
June 28, 1934
George W. Davis
Due in 2 Years-
monthly payments of $5.00
448.43*
6%
Total
$ 805.18
*Original amount $453.43, one monthly payment made.
There was no change in the balance of this account during the year. The notes, which are held in the office of the department were examined by us during the course of our examination.
Accounts Receivable-Consumers-$23,771.32.
The balance of this account represents amounts owing the de- partment as at December 31, 1935, on account of light and power billings to the close of the last route cycle prior to December 31. Our verification of the above consisted of checking the balances of the various consumers' cards, the total of which was in agreement with the control account. No direct verification was made with any debtors. Accounts deemed uncollectable totaling $1,408.04 were charged off dur- ing the year.
Accounts Receivable-Miscellaneous-$8,119.99.
According to the books of account, the above amount was due the department on account of sales of miscellaneous appliances, job- bing sales and rentals as at December 31, 1935. Our verification of the above balance consisted of checking the totals of the various indi- vidual balances with the control account. The balance outstanding
230
December 31, 1935 may be summarized as follows :
Accounts arising from :
December 1935 billings
$ 1,749.62
November 1935 billings
282.50
October 1935 and prior billings 4,360.29
Lease installments unpaid
1,727.58
Total $ 8,119.99
Accounts totaling $302.74 were deemed uncollectible and were ac- cordingly written off the books. We did not make direct verification with the debtors.
Materials and Supplies-$64,682.07.
We were advised that an inventory of all materials and sup- plies was taken at December 31, 1935, under the supervision of the various departmental heads. A summary of that inventory is shown below :
Material and Supplies-General $ 28,441.77
Transmission and Distribution Supplies
46.36
Street Light Supplies
785.01
Consumers' Installations Supplies
157.41
Transportation Supplies
338.23
Sub-total
$ 29,768.78
Station Tools and Appliances
$ 585.88
Distribution Tools and Appliances
6,437.17
Office Supplies
622.12
Lamps and Appliances
20,146.05
Coal Supply 20.88
Station Supplies
350.64
Leased Appliances (depreciated value) Total
6,750.55*
$ 64,682.07
*This account represents the depreciated original installed cost as at December 31, 1935 of electric ranges and water heaters. These appliances are leased for periods of five and seven years respectively and for which the department receives $1.50 monthly rental for the stated lease periods. At the expiration of the lease periods and pro- vided all installments have been paid, title passes to the consumer. Depreciation on this equipment has been taken at a rate sufficient to write off the original installed cost over the lease periods and has been applied to account No. 561- "Rent Electric Appliances".
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