USA > Massachusetts > Middlesex County > Reading > Town of Reading Massachusetts annual report 1936 > Part 19
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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 Est.
1936
none
8,518,418
7,456,400
439,503
105,251
955,722
119.5
5.80
5,915
1929
2,107 Est.
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
Generated
K. W. H.
Purchased
K. W. H. Sold
K. W. H.
Delivered to
Read'g. St. Lights
200605 2421005 1000000
TABLE C
Production Costs Per K. W. H. Based on Total K. W. H. Delivered at Switchboard
Year
K W. H. Purchased
Fuel
Labor
Repairs and other Total Station Expenses 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
1936
.01123
None
.00113
.00025
.0126
246
TABLE D
Average Cost Per K. W. H. As Defined by Chapter 164, General Laws
1912
1913
1914
1915
1916
Operating Costs :
.0397
.0483
.0362
.0586
.0467
Fixed Costs :
.0198
.0176
.0254
.0299
.0261
Total Costs :
.0595
.0659
.0616
.0885
.07.28
1917
1918
1919
1920
1921
Operating Costs :
.0577
.0538
.0509
.0588
.0640
Fixed Costs :
.0249
.0274
.0213
0259 '
.0330
Total Costs :
.0326
.0812
.0722
.0817
.0970
1922
1923
1924
1925
1926
Operating Costs :
.0561
.0494
.0377
.0442
0448
Fixed Costs :
.0278
.0185
.0138
.0131
.0129
Total Costs :
.0839
.0679
.0515
.0573
.0577
1927
1928
1929
1930
1931
Operating Costs :
.0395
.0414
.0359
.0344
.0368
Fixed Costs :
.0115
.0016
.0085
.0075
.0079
Total Costs :
.0510
.0530
.0444
.0419
.0447
1932
1933
1934
1935
1936
Operating Costs :
.0332
.0295
.0315
.0320
.0307
Fixed Costs :
.0083
.0080
.0075
.0063
.0057
Total Costs :
.0415
.0375
.0390
.0383
:. 0364
VOUCHER REGISTER BALANCE DECEMBER 31, 1936
Oct. and
Totals
December
November Previous
Altorfer Bros Co. . .
$ 2.15
$ 2.15
Amer. Steel & Wire Co.
18.40
18.40
Anchor Mfg. Co.
12.00
12.00
A. & J. M. Anderson Mfg. Co.
10.25
10.25
J. Brinton Bailey
28.50
28.50
Blackstone Mfg. Co.
. .
4.46
.66
3.80
Wm. Blanchard Co. ..
2.5
2.50
Henry S. Blethen ....
28.30
28.30
Bos. Herald-Trav. Corp.
20.18
20.18
.. .
:
247
Oct. and
Totals December November Previous
Boston Nickel Plating Co., Inc.
4.17
4.17
C. Bowen, Inc.
1.00
.50
.50
George H. Buckminster Co
238.37
110.56
127.81
J. H. Burke C).
.40
.40
Burroughs Adding Mach- ine Co.
25.19
25.19
Carl. ton Walsh Motors. Inc.
2.35
2.35
M. F. Charles
25.23
24.60
.63
Chase, Parker Co., Inc.
4.41
4.41
Clapp & Leach, Inc. ..
429.27
163.19
266.08
J. J. Costello Co. ....
8.93
8.93
T. F. Coughlan Co.
3.60
2.70
.90
Crandall Packing Co. ..
2.28
2.28
Ralph R. Currier
1.40
1.40
Davis Transformer Co.
39.44
39.44
Dayton Pump and Mfg. Co.
9.40
9.40
Decatur & Hopkins Co.
992.24
104.87
227.39
659.98
Des Roberts Elec. Sup. Co.
174.90
81.95
92.95
Dyer-Clark Co.
100.46
100.46
Eastern Co.
44.62
44.62
Edison Elec. Ill. Co. . .
29,766.38
10,431.74
9,743.53
9,591.11
Elec. Motor Serv. Co. ..
2.53
2.53
Elec. Time Co., Inc. ..
7.42
7.42
Electromaster Inc.
10.09
10.09
Eppinger & Russell Co. Eureka Vac. Clean. Co.
10.76
10.76
T. C. Fife
17.38
17.38
Fitzgerald Mfg. Co.
2.17
2.17
Frigidaire Corp.
6.67
6.67
Gallant's Electric Mo- tor Service
44.25
44.25
General Cable Corp.
30.00
30.00
General Electric Co. .
182.47
182.47
G. E. Supply Corp.
..
754.18
17.92
25.87
710.39
620.00
620.00
248
Totals December
November
Oct. and Previous
Alfred E. Goodwin
1.00
1.00
Don Gray
2.00
2.00
Renfrew Gray
61.89
33.75
28.14
Graybar Elec. Co. Inc.
2,204.54
2,016.36
88.10
100.08
Thos. Groom & Co. Inc.
3.18
3.18
R. S. Hanks
12.00
6.00
6.00
The Hardy Co.
2.50
2.50
C. L. Hauthaway & Son Inc.
71.00
71.00
Hook and Coward
54.69
31.97
22.72
Max G. Horovitz Co. ..
14.00
14.00
Hunt-Marquardt, Inc.
136.64
12.74
66.93
56.97
Arthur J. Hurley ....
11.31
11.31
Hygrade Sylvania Corp.
562.40
412.33
150.07
Kay & Ess Co.
3.62
3.62
Kelvinator Corp.
38.75
4.06
34.69
Laing Chevrolet Co. ..
18.84
1.28
17.56
Landers, Frary & Clark
4.37
4.37
Edward Lappin
52.25
11.50
40.75
Henry D. Leary
4.00
4.00
Lib. Mu. Ins. Co.
1,278.86
766.26
512.60
Line Material Co.
96.55
96.55
Liq. Carbonic Corp.
3.00
3.00
Lunt-Moss Co.
1.03
1.03
Lynn Blue. and Reprod. Service
.44
.44
E. F. Mahady & Co. ..
4.50
4.50
Malden Auto Spr. Serv.
Inc.
7.24
7.24
A. E. Martell Co., Inc.
53.22
31.63
21.59
Mass. Gas & Elec. Lt. Sup. Co.
121.81
13.50
108.31
Mathias-Hart Co.
82.66
12.16
70.50
J. M. Maxwell, Jr. and Son
25.56
25.56
Melchior, Armstrong, Dessau Co.
32.69
32.69
H. B. McArdle
2.25
2.25
249
Totals December
November
Oct. and Previous
Milhender-Afes
Elcc. Co.
671.49
190.19
255.05
226.25
L. E. Muran Co.
33.59
9.59
24.00
N. E. Disinfect. Co. ..
3.25
3.25
N. E. Forestry Serv. Inc.
750.20
750.20
N. E. Tel. and Tel. Co. (Reading)
208.21
103.00
105.21
N. E. Tel. and Tel. Co. (Wilmington)
6.0
2.85
3.20
N. E. Tel and Tel. Co. (Const.)
205.97
183.00
22.97
N. Wilm. Nurseries
30.00
30.00
Okonite Co.
4.00
4.00
Petroleum Heat & Power Co.
95.04
54.73
40.31
H. K. Potter, Inc.
7.24
7.24
T. of R. Sewer Dept. ..
8.17
8.17
Reading Chronicle
286.13
95.58
190.55
Read. Upholster. Co.
1.00
1.00
Robeson Roches. Corp.
2.59
2.59
Jos. T. Ryerson & Son Inc.
5.69
5.69
Sager Elec. Sup. Co. ..
145.05
145.05
Samson-United Corp.
.36
.36
Sanborn Hill Serv. Stas.
3.87
3.87
Simplex Wire and Cable Co.
12.00
12.00
Fred F. Smith, Inc.
25.75
25.75
Strong, Carlisle &
Hammond Co.
5.33
5.33
Wm. J. Sullivan
2.80
2.80
Superior Switch and Dev. Co.
327.00
200.50
126.50
Taylor Calhoun Co.
55.00
55.00
Taylor Instru. Cos.
3.72
3.72
The Texas Co.
352.69
100.46
62.44
189.79
Geo. H. Wahn Co. . .
229.12
85.73
143.39
B. F. Waldron & Son
5.10
5.10
250
Totals December
November Previous Oct. and
Walker & Pratt Mfg. Co.
20.15
6.65
13.50
Wetmore-Savage Div.
3,788.11
1,600.47
1,550.64
637.00
Nelson R. Whithed . .
58.53
58.53
Oliver Whyte Co.
14.80
14.80
Edwin L. Wiegand Co.
15.28
2.02
13.26
Wilm. High Sch. Athl. Association
8.00
8.00
Kellogg Mfg. Co.
41.37
1.25
42.62
Howe & Co.
16.00
16.00
Eastern Mass. St. Ry. Co.
150.00
150.00
Frank W. Stevens ..
7.00
7.00
A. J. Lindemann & Hoverson
2.30
2.30
Geo. W. Marshall
.70
.70
Porcelier Mfg. Co.
.94
.94
Spaulding Moss Co. ..
3.12
3.12
Virginia Smelting Co. ..
30.00
30.00
Domenick Zanni
25.00
25.00
Boston and Maine R. R.
1.20
1.20
Martin B. Hartshorn ..
1,450.14
1,450.14
Lowell Elec. Lt. Corp.
9.61
9.61
Railway Ex. Agen., Inc.
1.54
1.54
Edward Atkins
52.42
52.42
Wendell Bancroft & Co.
.75
.75
Boston Evening Amer.
40.00
40.00
Brooks' Express
17.45
17.45
Chris. Sci. Pub. Soc. ..
26.25
26.25
Francis Brothers
5.73
5.73
H. J. Montgomery
. ..
69.00
69.00
Atlantic Refining Co. ..
65.44
65.44
Town of Wilm., Water Dept.
40.00
40.00
Boston Transcript
45.00
45.00
$ 47,755.45
$ 20,088.66 $ 14,051,70 $ 13,615.09
251
TOWN OF READING MUNICIPAL LIGHT DEPARTMENT REPORT OF EXAMINATION For the Year Ended December 31, 1936
February 2, 1937
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, 1936, and submit herein our report consisting of the following exhibits, schedules, comments and explanations.
Exhibits:
"A"-Comparative Balance Sheet as at December 31, 1936 and 1935.
"B"-Comparative Statement of Operations for the years ended December 31, 1936 and 1935.
"C"-Comparative Statement of Profit and Loss for the years ended December 31, 1936 and 1935.
Schedules :
"1"-Comparative classified statement of Income for the years end- ed December 31, 1936 and 1935.
"2"-Comparative classified statement of Operating Expenses for the years ended December 31, 1936 and 1935.
"3"-Detail of bonds and notes authorized, issued and outstanding as at December 31, 1936.
"4"-Comparative statement of Merchandise Operations for the years ended December 31, 1936 and 1935.
"5"-Comparative detail of Kilowatt Hours Purchased, Sold, Used and Unaccounted for, for the years ended December 31, 1936 and 1935.
252
COMMENTS AND EXPLANATIONS OF ASSETS AND LIABILITIES
PLANT INVESTMENT-$552,807.75.
Changes in plant investment accounts during the year may be summarized as follows :
Balance
Balance Dec. 31,
Account
January 1 1936
Net Additions
De-
preciation
1936
Land
$ 2,575.80
$
.00
$
.00
$ 2,575.80
Structures
18.147.13
.00
550.59
17,596.54
Structures-Garage and Storeroom
13,871.80
.00
342.30
13,529.50
Boiler Plant Equip.
6,979.66
.00
4,181.80
2,797.80
Prime Movers and
Auxiliaries
2,841.35
.00
1,662.80
1,178.55
Turbo-Generator Units
4,033.74
.00
2,812.24
1,221.50
Electric Plant-Steam
55,135.82
10,487.94
5,485.98
60,137.78
Overhead Conductors
246,576.26
11,734.90
5,562.17
252,748.99
Transformer
Station
and Substation Equip.
469.77
.94
14.56
456.15
Underground Conduits
48,081.48
6,232.25
1,152.80
53,160.93
tors
41,589.32
5,906.71
1,521.61
45,974.42
Consumers' Meters
34,618.10
2,356.85
1,978.43
34,996.52
Consumers' Meters In- stallation
8,405.06
1,427.24
447.03
9,385.27
Line Transformers
36,744.54
2,014.94
1,821.00
36,938.48
Transformer Install's. .
4,476.58
30.00
219.72
4,286.86
Street Lighting Equip.
16,181.15
1,267.42
1,625.97
15,822.60
TOTALS
$540,727.56 $ 41,459.19
$ 29,379.00
$552,807.75
In our opinion, the additions to these accounts represent proper charges to plant investment.
Depreciation on plant investment accounts, based on 3% of the cost at the beginning of the year, exclusive of land, was charged to opera- tions for the year. Depreciation is applied directly against the asset accounts, and accordingly the balances shown in Exhibit "A" of this report represent depreciated values.
Included in the additions to plant accounts for the year is $9,927.56 representing the cost of completing the new switchboard and additional feeder regulators at the power station. The total cost of this installa- tion was $43,684.97.
253
Poles, Fixtures and
Underground
Conduc-
Other additions to plant accounts represent additions and improve- ments necessary in the regular conduct of the Department and to take care of increased business.
General Equipment-$16,314.52
This item represents the book value of Office, Stores, Transporta- tion, Laboratory and Miscellaneous equipment, which values, in our opinion, are conservatively stated.
Construction Fund-$5,393.01
In accordance with Article 4 acted upon at a meeting of the voters of the Town held in March 1936, the balance of the Operating Fund was transferred to the Construction Fund. The balance of the Con- struction Fund at December 31, 1936 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.
Petty Cash Fund-$250.00
Funds held in the office for the purpose of petty expenditures and making change were counted on January 28, 1937 and were in agree- ment with the above amount.
Consumers' Deposit Fund-$8,109.81
Funds deposited by consumers to guarantee payment of bills owing this Department totaled $8,109.81. This amount was on deposit with the Mechanics Savings Bank, verification of which was made by refer- ence to a pass book issued by that institution.
Notes Receivable-$790.18
The balance of this account, as shown by the books of account, comprised the following :
Date
Maker Maturity
Amount
Rate Int.
November 10, 1933 Fred L. Norris Demand $ 356.75 6%
June 28, 1936 George W. Davis
Due in 2 Years-
monthly payments of $5.00 Total $ 790.18
433.43*
6%
*Represents renewal of original note dated June 28, 1932 amount- ing to $404.85, to which interest of $48.58 has been added. Payments on this note amounted to $15.00 in 1936.
The notes, which are held in the office of the Department, were examined by us during the course of our examination.
Accounts Receivable-Consumers-$26,671.36
The balance of this account represents amounts owing the Depart- ment as at December 31, 1936, on account of light and power billings to the close of the last route cycle prior to December 31. Our verifi-
254
-
cation 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 consumers.
Amounts deemed uncollectable totaling $1,076.70 were charged off during the year.
Accounts Receivable-Miscellaneous-$9,379.81
According to the books of account, the above amount was due the Department on account of sales of miscellaneous appliances, jobbing sales and rentals as at December 31, 1936. Our verification consisted of identifying the individual balances with a list of accounts furnished by the office staff, the total of which was in agreement with the above balance.
The balance outstanding December 31, 1936 may be summarized as follows :
Accounts arising from :
December 1936 billings
$ 2,395.16
November 1936 billings
683.29
October 1936 and prior billings
5,473.45
Lease installments unpaid
827.91
Total $ 9,379.81
Accounts totaling $600.04 were deemed uncollectible and charged off. We did not make direct verification with the debtors.
Materials and Supplies-$58,001.04
We were advised that an inventory of all materials and supplies was taken December 31, 1936 under the supervision of the various de- partment heads. A summary of that inventory is shown below :
Materials and Supplies-General
$ 26,884.92
Transmission and Distribution Supplies
110.44
Street Lighting Supplies
602.86
Consumers' Installation Supplies
198 13
Transportation Supplies
433.75
Sub-total
$ 28,230.10
Station Tools and Appliances
634.34
Distribution Tools and Appliances
7,142.70
Printing and Office Supplies
810.70
Lamps and Appliances
15,708.89
Coal Supply
408.81
Station Supplies
236.60
Leased Appliances (depreciated value)
4,828.90*
Total
$ 58,001.04
255
*This account represents the depreciated original installed cost as at December 31, 1936 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 provided 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".
We are advised that most of the inventory at December 31, 1936 was priced at cost. In certain cases appraised values were used. Book values of these accounts were adjusted to conform with inventory values. All mathematical computations were checked by us.
Prepaid Insurance-$1,107.77
The above balance represents the unexpired insurance premiums at December 31, 1936, as computed by us from insurance policies ex- amined.
Bonds Payable-$42,500.00
Notes Payable-$34,000.00
The indebtedness of the Department on account of its bond and note liability is reflected in the above accounts. Confirmation of the above balances was received from the Town Accountant. A total of $7,000.00 of bonds and $4,000.00 of notes were retired during the year.
A detail of bonds and notes issued, and changes in the accounts during the year is set forth in Schedule "3" of this report.
Accounts Payable-$47,755.45
The liability of the Department on account of unpaid invoices at December 31, 1936, as reflected by the records, was $47,755.45.
Unpaid vouchers were checked against unpaid items in the voucher register. The total of unpaid items, per the voucher register, was in agreement with the control account. The above balance may be aged as follows :
December 1936 invoices $ 20,088.66
November 1936 invoices 14,051.70
October 1936 and prior invoices 13,615.09
Total $ 47,755.45
.
From records examined, it appeared that all invoices applicable to the year had been recorded.
Consumers' Deposits-$8,109.81
As at December 31, 1936, the Department held the above amount representing deposits made by certain consumers to insure the payment of bills owing the Department. This liability is offset by a separate fund on deposit with the Mechanics Savings Bank, previously described in this report under the caption "Consumers' Deposit Fund." The total
256
of balances shown by the individual consumers' accounts was in agree- ment with the above amount. Interest is paid on deposits held by the Department six months or more at the rate of four (4) per cent per annum.
Accrued Items-$657.92
Interest accrued on bonds and notes outstanding was computed by us.
Confirmation of the amount owing the Town Treasurer, on ac- count of a loan to this Department for petty cash purposes, was re- ceived from the Town Accountant.
Loans Repayment-$377,400.00
The balance of this account reflects an increase of $11,000.00 during the year which represents the amount of bonds and notes retired dur- ing 1936. The above balance may be summarized as follows :
Total Issued
Balance Outstanding
Total Retired
12-31-36
Bonds
$322,500.00
$ 42,500.00
$280,000.00
Notes
131,400.00
34,000.00
97,400.00
Totals
$453,900.00 $ 76,500.00 $377,400.00
See Schedule "3" of this report for further detail of above.
Appropriation for Construction Repayment-$30,678.26
This account represents amounts appropriated' by the Town from tax levy for the benefit of this Department and which have been fully repaid to the Town by the Department.
Profit and Loss-$137,723.81
The increase in the profit and loss account amounted to $9,119.53 during the year. A detail of this increase is set forth in Exhibit "C" of this report.
The net income of the Department for the year was $40,079.74 be- fore bond and note retirement, payment to the Town Treasurer and miscellaneous adjustments. A detail of net income is shown in Ex- hibit "B."
COMMENTS AND EXPLANATIONS OF OPERATIONS
A summary of the increase in net operating income for the year 1936 over 1935 is given below :
Increase
Items
Decrease*
Total Operating Revenue
$ 21,553.72
Total Operating Expenses
10,257.81
Net Operating Revenue
$ 11,295.91
257
Increase Decrease* 442.77
Deductions from Operating Revenue
Net Operating Income
$ 10,853.14
Non-Operating Income
43.73
Total Income
$ 10,896.87
Deductions from Total Income
40.16*
Net Income
$ 10,937.03
The increase in total operating revenues for the year is mainly at- tributable to increased sales of kilowatt hours for "Residence Light- ing," "Commercial Lighting," "Commercial Heating," and "Commercial Power."
According to the records, kilowatt hours sold in 1936 for these classes of income exceeded the sales for 1935 by 649,897, resulting in an increase in revenue from these sources of $20,814.76.
Kilowatt hours sold during 1936 totaled 7,456,400 as compared with 6,852,795 for 1935. The average revenue per kilowatt hour sold in 1936 was .0403 as compared with .0407 for 1935.
A comparative tabulation of kilowatt hours purchased, sold, used and unaccounted for as shown by the records of the Department is set forth in Schedule "5" of this report.
We have made a series of tests of the operating accounts for the year in order to satisfy ourselves of the general accuracy of same.
Other Comments
At a meeting of the voters of the Town held in March 1935, it was voted among other things, that, if the income of this Department, in- cluding the appropriation for street lighting, shall exceed the expenses, as defined in Section 57 of Chapter 164 of the General Laws, for the current year, $20,000.00 of such excess shall be transferred to the general funds of the Town and the balance shall be transferred to the Con- struction Fund of the Department and used for such additions thereto as may thereafter be authorized by the Municipal Light Board. The excess of income over expenses for 1936, as defined in Section 57 of Chapter 164 of the General Laws am unted to $29,119.53.
The Department turned over $20,000.00 to the Town Treasurer in accordance with the above vote.
A contingent liability in the amount of $15,682.56 existed at Decem- ber 31, 1936, on account of leases received from installment sales of electrical, appliances and which were discounted with the Malden Morris Plan and the First National Bank of Reading.
258
The Department carries a blanket policy bonding all employees of the Department in the amount of $2,500.00 each. Additional coverage is carried as follows :
Manager
$ 2,500.00
Office Manager
2,500.00
Cashiers (2)
Collectors (2)
2,500.00 each 500.00
The following exhibits and schedules have been prepared on the basis of and are subject to the comments as hereinbefore stated.
For your convenience, these exhibits and schedules are set up in accordance with the "Uniform System of Accounts for Municipal Lighting Plants" as prescribed by the Department of Public Utilities of Massachusetts.
Respectfully submitted,
CHARLES E. STANWOOD & COMPANY.
EXHIBIT "A"
TOWN OF READING-MUNICIPAL LIGHT DEPARTMENT COMPARATIVE BALANCE SHEET AS AT December 31, 1936 and 1935
ASSETS
Plant Investment:
1936
1935
Increase Decrease*
111
Land
$ 2,575.80
$ 2,575.80
$
.00
113
Structures
31,126.04
32,018.93
892.89*
114
Boiler Plant Equipment
2,797.86
6,979.66
4,181.80*
115
Prime Movers & Auxiliaries
1,178.55
2,841.35
1,662.80*
116
Turbo-generator Units
1,221.50
4,033.74
2,812.24*
123
Transformer Station & Sub- station Equipment
456.15
469.77
13.62*
125
Poles, Fixtures and Over- head Conductors
252,748.99
246,576.26
6,172.73
126
Underground Conduits
53,160.93
48,081.48
5,079.45
127
Underground Conductors
45,974.42
41,589.32
4,385.10
128
Consumers' Meters
34,996.52
34,618.10
378.42
129
Consumers' Meter Install's
9,385.27
8,405.06
980.21
130 Line Transformers
36,938.48
36,744.54
193.94
131 Transformer Installations ..
4,286.86
4,476.58
189.72*
132
Street Lighting Equipment
15,822.60
16,181.15
358.55*
TOTAL PLANT EQUIPMENT
$552,807.75
$540,727.56
$ 12,080.19
. .
60,137.78
55,135.82
5,001.96
117
Electric Plant-Steam
259
ASSETS
1936
1935
Increase Decrease*
General Equipment:
150 Office
$ 6,504.50
$ 7,209.94
$ 705.44*
152 Stores
500.23
500.23
.00
153 Transportation
6,389.50
1,800.00
4,589.50
154
Laboratory
2,062.85
2,451.32
388.47*
155 Miscellaneous
857.44
1,126.21
268.77*
TOTAL GENERAL EQUIPMENT $ 16,314.52
$ 13,087.70
$ 3,226.82
201 Unfinished Construction
$ .00
$ 2,769.13
$ 2,769.13*
TOTAL INVESTMENT
$569,122.27
$556,584.39
$ 12,537.88
Current Assets :
204-2
Construction Fund
$ 5,393.01
$ 3,596.93
$ 1,796.08
204-3 Petty Cash Fund
250.00
250.00
.00
205-1
Depreciation Fund
.00
.00
.00
205-2
Consumers' Deposit Fund
8,109.81
7,518.81
591.00
206
Notes Receivable
790.18
805.18 23,771.32
2,900.04
207-2
Accts. Rec. Miscell.
9,379.81
8,119.99
1,259.82
209-1
Materials and Supplies- General
28,230.10
29,768.78
1,538.68*
2 Sta. Tools and Applian's.
634.34
585.88
48.46
Appliances
7,142.70
6,437.17
705.53
4 Print. and Office Supplies
810.70
622.12
188.58
5 Lamps and Appliances ..
15,708.89
20,146.05
4,437.16*
5A Leased Appliances (De- preciated)
4,828.90
6,750.55
1,921.65*
6 Coal Supplies
408.81
20.88
387.93
9 Station Supplies
236.60
350.64
114.04*
TOTAL CURRENT ASSETS ..
$108,595.21
$108,744.30
$ 149.09*
Prepaid Items:
214 Prepaid Insurance
$ 1,107.77 $ 1,186.93
$ 79.16*
GRAND TOTALS
$678,825.25
$666,515.62
$ 12,309.63
260
15.00*
207-1 Accounts Rec., Consumers
26,671.36
3 Distribution Tools and
LIABILITIES AND PROFIT AND LOSS
1936 1935
Increase Decrease*
Bonds and Notes Payable:
305 Bonds Payable
$ 42,500.00 $ 49,500.00
$ 7,000.00*
306 Notes Payable
34,000.00
38,000.00
4,000.00*
TOTAL BONDS AND NOTES
PAYABLE .. $ 76,500.00 $ 87,500.00 $ 11,000.00*
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