USA > Massachusetts > Middlesex County > Reading > Town of Reading Massachusetts annual report 1939 > Part 16
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Consumers' Deposit Fund-$9,376.54
The above amount, on deposit with the Mechanics Savings Bank, represents deposits by consumers to guarantee payment of bills owing this Department. Verification was made by reference to a pass book issued by the Mechanics Savings Bank.
Accounts Receivable-Consumers'-$30,056.13
The balance of this account represents amounts owing the Depart- ment as at December 31, 1939, on account of light and power billings to the close of the last cycle prior to December 31. Our verification comprised the checking of the balances of the various consumers' ac- counts with lists prepared by the office staff, the total of which was in agreement with the control account. No direct verification was made with consumers.
Accounts determined by the management as uncollectible and charged off during the year amounted to $1,220.14. Collections on ac- counts previously charged off totaled $313.02. A note receivable in the amount of $428.43 was also charged off as uncollectible.
Accounts Receivable-Miscellaneous-$8,154.79
A list of balances owing the Department as at December 31, 1939, on account of sales of miscellaneous appliances, jobbing sales and rentals was prepared by the office staff. Our verification consisted of identifying the balances per this list with the individual ledger ac- counts. No direct verification was made with the debtors.
Accounts totaling $574.99 were written off as uncollectible and charged to "Merchandise Revenue" account.
Materials and Supplies-$55,668.68.
We were advised that an inventory of all materials and supplies was taken at December 31, 1939 under the supervisions of the various department heads. A summary of that inventory is given as follows :
211
Material and Supplies-General $ 25,915.12
Street Lighting Supplies
259.28
Consumers' Installation Supplies 835.14
Transportation Supplies
551.01
Sub-Total $ 27,560.55
Station Tools and Appliances
829.14
Distribution Tools and Appliances
6,447.42
Printing and Office Supplies
862.02
Lamps and Appliances
18,653.14
Coal Supply
393.06
Station Supplies
402.25
Leased Appliances (depreciated value)
521.10*
TOTAL $ 55,668.68
*This account represents the depreciated original installed cost as at December 31, 1939 of electric ranges and water heaters. These ap- pliances 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 was priced at cost. In certain cases depreciated cost was used. Book values of these ac- counts were adjusted to conform with inventory values. All mathemati- cal computations were checked by us.
Prepaid Insurance-$1,233.48
1
The above balance represents the unexpired insurance premiums at December 31, 1939 as computed from insurance policies or invoices examined.
Bonds Payable-$26,000.00
Notes Payable-$146,000.00
At the Annual town meeting held in March, 1939, the Treasurer, with the approval of the Selectmen, was authorized to borrow $15,000.00, said sum to be used for the extension and enlargement of the under- ground system.
In accordance therewith, notes in the amount of $15,000.00 were issued, dated July 1, 1939, bearing interest at the rate of 11/2 % per annum and payable $2,000.00 per year for five years, and $1,000.00 per year for the succeeding five years.
At a special town meeting held June 5, 1939, the refinancing of the note, due in December 1939 amounting to $25,000.00, by notes payable in not more than ten years, was authorized.
212
In accordance therewith, notes in the amount of $25,000.00 were issued, dated November 15, 1939, bearing interest at the rate of 11/4% per annum and payable $3,000.00 per year for five years, and $2,000.00 per year for the succeeding five years.
At a special town meeting held on June 20, 1939, the Treasurer, with the approval of the Selectmen, was authorized to borrow $36,000.00, said sum to be appropriated for the acquiring of the property at High and Haven Street, known as "Black's Block" and the erection of a new building for the offices and showrooms of the Municipal Light Plant.
In accordance therewith, notes were issued in the amount of $36,000.00, dated July 1, 1939, bearing interest at the rate of 11/2% per annum, and payable $2,000.00 per year for sixteen years and $1.000.00 per year for the succeeding four years.
A total of $5,500.00 in bonds and $10,000.00 in notes were retired during the year. Confirmation of the bonds and notes outstanding December 31, 1939 was obtained from the Town Accountant.
A detail of bonds and notes issued during the year and changes in the accounts during the year is set forth in Schedule "3" of this report.
Accounts Payable-$35,192.34
The liability of the Department on account of unpaid invoices at December 31, 1939, as reflected by the records, was $35,192.34.
The total unpaid items, per the voucher register, was in agreement with the control account. The above balance may be aged as follows :
December 1939 Invoices $ 18,666.72
November 1939 Invoices
16,792.94
Prior
267.32
TOTAL
$ 35,192.34
From records examined, it appeared that all invoices applicable to the year had been recorded.
Consumers' Deposits - $9,376.54
As at December 31, 1939, the Department held the above amount representing deposits made by certain consumers to guarantee pay- ment of bills owing the Department. This liability is offset by a separate fund on deposit with the Mechanics Savings Bank, previously de- scribed in this report under the caption "Consumers' Deposit Fund". The total of the balances shown by the individual consumers' accounts was in agreement with the above amount. Interest is paid on de- posits held by the Department six months or more at the rate of four (4) per cent per annum.
213
Accrued Items
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.
Premium on bonds represents the excess of cash received over the par value of notes issued July 1, 1939, and will be applied to princi- pal payments to be made in 1940 on these notes.
Loans Repayment-$417,900.00
The balance of this account reflects an increase of $15,500.00 dur- ing the year which represents the amount of bonds and notes retired during 1939. The above balance may be summarized as follows :
Total Issued
Balance
Total
Outstanding Retired
Bonds
$322,500.00
$ 26,000.00
$296,500.00
Notes
267,400.00
146,000.00
121,400.00
TOTALS
$589,900.00
$172,000.00
$417,900.00
The note of $25,000.00 due in December, 1939 and refinanced by notes totaling $25,000.00 dated November 15, 1939, has been eliminated from the above summary and from Schedule "3".
See Schedule "3" of this report for further detail of above.
Appropriation for Construction Fapayment-$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-$157,681.61.
The increase in the profit and loss account amounted to $4,577.88 for 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 amounted to $46,661.79 before bond and note retirement, payment to the Town Treasurer and miscellaneous adjustments. A detail of net income is shown in Exhibit "B".
214
COMMENTS AND EXPLANATIONS OF OPERATIONS
A summary of the increase in net income for the year 1939 over 1938 is as follows :
Items
Increase Decrease* $ 18,380.64
Total Operating Revenue
Total Operating Expenses
10,313.43
Net Operating Revenue
$ 8,067.21
Deductions from Operating Revenue
685.09*
Net Operating Income
$ 8,753.30
Non-Operating Income
443.07
Total Income
$ 9,196.37
Deductions from Total Income
3,703.18
NET INCOME
$ 5,493.19
Examination of Schedule "B" will show a decrease in "New Busi- ness" expense of $6,291.43 and an increase in "Merchandise and Job- bing Loss" of $4,173.58. A change in accounting procedure whereby most of the expenses charged to "New Business" in prior years are now charged to "Merchandise Revenue" accounts to a great extent for this variation.
The increase in total operating revenue is due mainly to a sub- stantial increase in sales of "Wholesale Power" and to the fact that revenue for 1938 was adversely affected by the interruption of service caused by the hurricane of September 21, 1938.
Kilowatt hours sold during 1939 totaled 9,409,182 as compared with 8,400,252 for 1938. The average revenue per kilowatt hour sold in 1939 was $.0354 as compared with $.0375 for 1938.
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 "4" of this report.
OTHER COMMENTS
At the annual town meeting held in March 1939, it was voted that there be included in the tax levy for electricity used for street lights, the sum of fourteen thousand dollars, and that said sum and the income from sales of electricity to private consumers and for
215
electricity supplied for municipal power, and from sales of appliances and jobbing during the current fiscal year, be appropriated for the Municipal Lighting Plant, and that the sum of twelve thousand dollars be appropriated from the said receipts of the department for the sale, installation and servicing of merchandise, equipment, utensils and chattels, as provided in Section 34, of Chapter 164 of the General Laws, said appropriations to be expended by the Manager of Municipal Light- ing, under the direction and control of the Muncipal Light Board, for the expense of the plant, including the sale, installation and servic- ing of merchandise, equipment, utensils and chattels, as defined in Chapter 164 of the General Laws, or any amendments thereof or addi- tions thereto, and that if said sum and said income shall exceed said expense for said fiscal year, twenty-four thousand dollars shall be turned over to the Town Treasurer out of the profits of the Municipal Light Department, and the balance shall be transferred to the Con- struction Fund of said plant and appropriated and used for such addi- tions thereto as may be authorized by the Municipal Light Board.
The excess of income over expenses for 1939, as defined in Section 57 of Chapter 164 of the General Laws, amounted to $28,577.88.
The Department turned over $24,000.00 to the Town Treasurer in accordance with the above vote.
A contingent liability in the amount of $21,633.63 existed at De- cember 31, 1939 on account of leases received from installment sales of electrical appliances and which were discounted with the First National Bank of Reading.
The Department carries a blanket policy bonding all employees of the Department in the amount of $2,500.00 each. Additional cover- age is carried as follows :
Manager $ 2,500.00
Office Manager 2,500.00
Cashiers (2) 2,500.00 each
Collectors (2) 500.00 each
We have made a series of tests of the operating accounts for the year in order to satisfy ourselves of their general accuracy.
The accompanying exhibits and schedules have been prepared on the basis of and are subject to the comments 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
216
EXHIBIT "A" TOWN OF READING-MUNICIPAL LIGHT DEPARTMENT COMPARATIVE BALANCE SHEET AS AT December 31, 1939 and 1938 ASSETS
Increase
Plant Investment
1939
1938 2,575.80
$ .00
111-1
Land-25 Haven Street
7,459.46
.00
7,459.46
111-2
Land-High Street
1,601.10
.00
1,601.10
113 Structures
28,609.17
29,505.51
896.34*
113-1
Structures-25 Haven St.
25,489.10
.00
25,489.10
113-2
Structures-High St.
6,398.90
.00
6,398.90
114
Boiler Plant Equipment .. .
250.00
250.00
.00
115
Prime Movers and Auxil- iaries
250.00
250.00
.00
116
Turbo-Generator Units
500.00
500.00
.00
117
Electric Plant-Steam
. ..
55,805.18
59,033.21
3,228.03*
123
Transformer
Station and
36,201.58
40,617.45
4,415.87*
125
Poles,Fixtures & Overhead Conductors
266,247.37
269,866.84
3,619.47*
126
Underground Conduits
75,927.00
74,441.31
1,485.69
127
Underground Conductors
71,598.07
67,046.86
4,551.21
128
Consumers' Meters
35,458.55
35,472.68
14.13*
129
Consumers' Meter Installa- tions
12,536.90
11,269.89
1,267.01
130
Line Transformers
31,136.58
32,631.20
1,494.62*
131
Transformer Installations ..
3,808.17
3,976.94
168.77*
132
Street Lighting Equipment
20,249.74
19,884.37
365.37
TOTAL PLANT EQUIPMENT
$682,102.67
$647,322.06
$ 34,780.61
General Equipment:
150
Office
$ 5,580.30
$ 5,006.50
$ 573.80
152
Stores
433.67
456.50
22.83*
153
Transportation
5,411.00
4,840.00
571.00
154
Laboratory
1,630.66
1,643.47
12.81*
155
Miscellaneous
982.94
385.26
597.68
TOTAL GENERAL EQUIPM'T
$ 14,038.57
$ 12,331.73
$ 1,706.84
201-3 Unfinished Construction
$ 15,144.97
$ .00
$ 15,144.97
TOTAL INVESTMENT
$711,286.21
$659,653.79
$ 51,632.42
Decrease*
111
Land
$
2,575.80
$
Substation Equipment
217
Current Assets :
204-2 Construction Fund
$ 4,261.16 $ 5,018.28 $ 757.12*
204-5 Construction
Fund (New
Building)
54.09
.00
54.09
204-3 Petty Cash Fund
250.00
250.00
.00
205-1 Depreciation Fund
4,218.02
.00
4,218.02
205-2 Consumers' Deposit Fund
9,376.54
9,329.54
47.00
206 Notes Receivable
.00
428.43
428.43*
207-1 Accounts Receivable-Con- sumers'
30,056.13
30,876.16
820.03*
207-2 Accounts Receivable-Mis- cellaneous
8,154.79
10,242.33
2,087.54*
209-1 Materials and Supplies-
General
27,560.55
33,108.35
5,547.80*
2 Station Tools & Appliances
829.14
749.32
79.82
3 Distributions Tools and Appliances
6,447.42
5,894.02
553.40
4 Printing & Office Supplies
862.02
813.33
48.69
5 Lamps and Appliances ....
18,653.14
17,396.59
1,256.55
5A Leased Appliances (Depre- ciated)
521.10
1,225.35
704.25*
6 Coal Supplies
393.06
739.80
346.74*
9 Station Supplies
402.25
222.38
179.87
TOTAL CURRENT ASSETS .. $112,039.41
$116,293.88 $
4,254.47*
-
Prepaid Items:
214 Prepaid Insurance
$
1,233.48 $ 1,184.18
$ 49.30
GRAND TOTALS
$824,559.10 $777,131.85 $ 47,427.25
-
LIABILITIES AND PROFIT AND LOSS
1939
1938
Increase Decrease*
Bonds and Notes Pavable:
305 Bonds Payable
$ 26,000.00 $ 31,500.00
306 Notes Payable
146,000.00
105,000.00
$ 5,500.00* 41,000.00
218
1939
1938
Increase Decrease*
TOTAL BONDS AND NOTES
PAYABLE
$172,000.00
$136,500.00
$ 35,500.00
Current Liabilities:
308 Accounts Payable
$ 35,192.34 $ 44,275.16 $
309 Consumers' Deposits
9,376.54
9,329.54
9,082.82* 47.00
TOTAL CURRENT LIABILITIES $ 44,568.88
$ 53,604.70
$ 9,035.82*
Accrued Items:
314 Interest Accrued on Bonds and Notes
$ 924.48 $ 595.16 $
329.32
315 Other Accrued Items- Loan due Town Treasurer
250.00
250.00
.00
316 Premium on Bonds
555.87
.00
555.87
TOTAL ACCRUED ITEMS
$ 1,730.35
$ 845.16
$ 885.19
Appropriated Surplus :
322 Loans Repayment
$417,900.00 $402,400.00 $ 15,500.00
323 Appropriation for Con- struction Repayment
30,678.26
30,678.26
.00
TOTAL APPROPRIATED SUR- PLUS $448,578.26 $433.078.26 $ 15,500.00
Profit and Loss:
400 Profit and Loss Balance (See Exhibit "C") $157,681.61 $153,103.73 $ 4,577.88
GRAND TOTALS
$824,559.10 $777,131.85
$ 47,427.25
219
EXHIBIT "B" TOWN OF READING-MUNICIPAL LIGHT DEPARTMENT COMPARATIVE STATEMENT OF OPERATIONS FOR THE YEARS ENDED DECEMBER 31, 1939 AND 1938
Ratios
Revenue from Sales-Electric Energy:
1939 $225,179.98
1938 $212,064.33
Increase Decrease* $ 13,115.65
1939
1938
501 Metered Sales - Residence Lighting
67.4
67.2
Metered Sales - Commercial Service
43,340.60
40,965.06
2,375.54
13.0
13.0
Metered Sales - Wholesale Power
19,701.15
8,851.10
10,850.05
5.9
2.8
Metered Sales-Retail Power
7,652.16
14,199.23
6,547.07*
2.3
4.5
505 Sales to Other Companies
1,371.87
1,163.83
208.04
4
.4
Street Lighting
26,369.26
28,846.93
2,477.67*
7.9
9.1
Municipal Buildings-Light and Power
9,619.84
9,135.24
484.60
2.9
2.9
TOTAL REVENUE FROM SALES-ELECTRIC ENERGY
$333,234.86
$315,225.72 $ 18,009.14
99.8
99.9
508 Rent from Property Used in Operations
616.18
244.68
371.50
2
.1
TOTAL OPERATING REVENUE
$333,851.04
$315,470.40
$ 18,380.64
100.0
100.0
Electric Operating Expenses:
I Production
$121,665.67
$110,687.83
$ 10,977.84
36.5
35.1
II Transmission and Distribution
62,115.03
56,916.80
5,198.23
18.6
18.0
III
Utilization
11,457.19
10.004.32
1,452.87
3.4
3.2
IV Commercial
16,400.35
16,254.11
146.24
4.9
5.2
V New Business
379.57
6,671.00
6,291.43*
1
2.1
VI General and Miscellaneous
59,821.89
60,992.21
1,170.32*
17.9
19.3
TOTAL OPERATING EXPENSES
$271,839.70
$261,526.27
$ 10,313.43
81.4
82.9
NET OPERATING REVENUE
$ 62,011.34 $ 53,944.13
$ 8,067.21
18.6
17.1
Deductions :
550 Uncollectible Operating Revenue
$ 1,335.55
$ 1,933.04
$ 597.49*
551 Taxes Assignable to Electric Operations
4,683.00
4,771.60
88.60*
TOTAL DEDUCTIONS
$ 6,018.55
$ 6,704.64
$ 686.09*
NET OPERATING INCOME
$ 55,992.79
$ 47,239.49
$ 8,753.30
Non-Operating Income:
562 Miscellaneous Rent Income
$ 435.80
$ 00
$ 435.80
566 Miscellaneous Non-operating Income
620.04
612.77
7.27
TOTAL NON-OPERATING INCOME
$ 1,055.84
$ 612.77
$ 443.07
TOTAL INCOME
$ 57,048.63
$ 47,852.26
$ 9,196.37
Deductions from Total Income:
560 Merchandise and Jobbing Loss
$ 7,156.59
$ 2,983.01
$ 4,173.58
561
Rent Electric Appliances
47.04
535.26
488.22*
576 Interest on Bonds and Notes
3,121.21
3,117.90
3.31
563 Interest Expense
62.00
47.49
14.51
TOTAL DEDUCTIONS FROM INCOME
$ 10,386.84
$ 6,683.66
$ 3,703.18
.
NET INCOME-TRANSFERRED TO PROFIT AND LOSS EXHIBIT "C"
$ 46,661.79 $ 41,168.60
$ 5,493.19
.
EXHIBIT "C"
TOWN OF READING-MUNICIPAL LIGHT DEPARTMENT COMPARATIVE ANALYSIS OF PROFIT AND LOSS
For the Years Ended December 31, 1939 and 1938
1939
1938
Increase Decrease*
Balance-Beginning of Year $153,103.73 $151,915.96
$ 1,187.77
Additions:
Net Income-Transferred from Statement of Operations Exhibit "B"
46,661.79
41,168.60
5,493.19
Premium on Bonds
.00
319.80
319.80*
$199,765.52
$193,404.36
$ 6,361.16
Deductions:
Bonds and Notes Retired .. Funds Turned Over to Town Treasurer in Accordance with Votes of the Town
$ 15,500.00 $ 15,500.00 $ .00
24,000.00
24,000.00
.00
Allowance for Rentals Paid in prior year on Purchase of Electric Ranges Loss on Sale or Abandonment of Transformers
102.00
155.75
53.75*
381.91
644.88
262.97*
Adjustment of Transformer Account
2,100.00
.00
2,100.00
$ 42,083.91
$ 40,300.63
$ 1,783.28
Balance-End of Year (See Ex- hibit "A")
$157,681.61 $153,103.73 $ 4,577.88
-
Net Increase or Decrease* in Profit and Loss for Year $ 4,577.88 $ 1,187.77
222
SCHEDULE "1"
TOWN OF READING-MUNICIPAL LIGHT DEPARTMENT COMPARATIVE CLASSIFIED STATEMENT OF INCOME
For the Years Ended December 31, 1939 and 1938
1939
1938
Increase Decrease*
Metered Sales-Residence Lighting:
Reading
$127,869.59
$122,763.47
$ 5,106.12
Lynnfield
19,104.68
17,728.46
1,376.22
North Reading
29,338.32
26,996.74
2,341.58
Wilmington
48,867.39
44,575.66
4,291.73
Total Residence Lighting
$225,179.98
$212,064.33
$ 13,115.65
Metered Sales-Commercial Service:
Reading
$ 26,717.20 $ 25,830.77
$ 886.43
Lynnfield
1,204.97
1,399.56
194.59*
North Reading
6,750.88
5,392.64
1,358.24
Wilmington
8,667.55
8,342.09
325.46
Total Commercial Service
$ 43,340.60
$ 40,965.06
$ 2,375.54
Metered Sales-Wholesale Power:
Reading
$ 18,055.60
$ 7,303.59
$ 10,752.01
Lynnfield
.00
.00
.00
North Reading
1,645.55
1,547.51
98.04
Wilmington
.00
.00
.00
Total Wholesale Power ..
$ 19,701.15
$ 8,851.10
$ 10,850.05
Metered Sales-Retail Power:
Reading
$
4,067.92 $ 11,112.59
$ 7,044.67 *
Lynnfield
792.15
723.26
68.89
North Reading
928.61
735.23
193.38
Wilmington
1,863.48
1,628.15
235.33
Total Retail Power
$ 7,652.16
$ 14,199.23
$ 6,547.07*
223
SCHEDULE "1" Continued
1939
1938
Increase Decrease*
Total Metered Light, Heat and Power Income .. . $295,873.89
$276,079.72 $ 19,794.17
Sales to Other Electric Companies:
Wakefield
$ 423.46
$ 350.62
$ 72.84
Lowell
97.91
59.58
38.33
Lawrence
745.48
662.50
82.98
Peabody
9.00
8.80
.20
Middleton
3.75
.00
3.75
Boston Edison Company
. .
92.27
82.33
9.94
Total Sales to Other Com- panies
$ 1,371.87 $ 1,163.83
$ 208.04
Municipal Revenue: Street Lighting:
Reading
$ 14,009.88 $ 15,021.00
$
1,011.12*
Lynnfield
2,362.68
2,265.37
97.31
North Reading
4,772.58
4,555.47
217.11
Wilmington
5,224.12
7,005.09
1,780.97*
Total Street Lighting In-
come
$ 26,369.26 $ 28,846.93 $ 2,477.67*
Buildings:
Lighting and Heat
$ 2,862.68 $ 2,648.02
$ 214.66
Power-Retail and Wholesale
6,757.16
6,487.22
269.94
Total Income-Municipal
Buildings
$ 9,619.84 $ 9,135.24
$ 484.60
Total Income from Sales --- Electric Energy $333,234.86 $315,225.72 $ 18,009.14
(See Exhibit "B")
224
SCHEDULE "2" TOWN OF READING-MUNICIPAL LIGHT DEPARTMENT COMPARATIVE CLASSIFIED STATEMENT OF OPERATING EXPENSES
For the Years Ended December 31, 1939 and 1938
1939
1938
Increase Decrease*
I Production Expenses :
611 Maintenance of Station
Structures
$
228.58
$ 413.81
$ 185.23*
612 Maintenance of Boiler Plant Equipment
266.07
25.00
241.07
614 Maintenance of Turbo- Generator Units
30.97
.00
30.97
616 Maintenance of Accessory Electric Equipment
.00
55.89
55.89*
617 Maintenance of Miscel- laneous Power Plant Equip.
18.28
.00
18.28
634 Electric Energy Purchased
121,121.77
110,193.13
10,928.64
Total Production Expenses $121,665.67 $110,687.83
$ 10,977.84
II Transmission and Distribution Expenses:
636 Transformer Station and Sub-station Superintendence and Labor
$
8,940.35 $ 9,191.67 $
251.32*
637 Transformer Station and Sub-Station Supplies and expense
1,062.81
703.05
359.76
638 Operation of Transmission and Distribution Lines ...
20,985.97
21,882.18
896.21*
639 Transmission and Distribu- tion Supplies and Expense
824.30
1,121.81
297.51*
640 Inspecting and Testing
Meters
1,511.60
1,436.43
75.17
641 Removing and Resetting Meters
3,410.54
4,119.78
709.24*
642 Removing and Resetting
Transformers
253.20
427.71
174.51*
645 Maintenance of Transform- er Station and Sub-Station Structures
123.42
.00
123.42
225
SCHEDULE "2" Continued
1939
1938
Increase Decrease*
646 Maintenance of Transform- er Station and Sub-station Equipment
1,087.76
539.34
548.42
647 Maintenance of Transmis- sion and Distribution Lines
21,554.44
13,295.38
8,259.06
647-2 Maintenance of Transmis- sion and Distribution Lines (Highway Construction)
651.49
3,314.32
2,662.83*
648 Maintenance of Under- ground Conduits
26.65
16.62
10.03
648-2 Maintenance of Under-
ground Conduits (High-
way Construction)
449.44
.00
449.44
650 Maintenance of Consum- ers' Meters
623.03
472.91
150.12
651 Maintenance of Transform- ers
610.03
395.60
214.14
Total Transmission and Distribution Expenses . .$ 62,115.03 $ 56,916.80
$ 5,198.23
III Utilization Expenses:
654 Operation of Municipal Street Lamps
$ 2,572.97 $ 2,879.32 $
306.35*
657 Maintenance of Municipal Street Lamps
1,934.37
996.26
938.11
659 Maintenance of Consumers' Installations
6,949.85
6,128.74
821.11
Total Utilization Expenses
$ 11,457.19
$ 10,004.32
$ 1,452.87
-
Total Production, Trans- mission and Distribution and Utilization Expenses . . $195,237.89 $177,608.95 $ 17,628.94
IV Commercial Expenses:
660 Commercial Salaries
$ 11,465.95 $ 11,051.31 $
414.64
661 Commercial Supples & Ex- penses
4,934.40
5,202.8$
268.40*
226
SCHEDULE "2" Continued
1939
1938
Increase Decrease*
Total Commercial Expenses $ 16,400.35
$ 16,254.11
$ 146.24
V New Business Expenses:
662 New Business Salaries
$
63.57 $ 3,040.02 $ 2,976.45*
663 New Business Supplies and Expenses
.00
27.46
27.46*
664 Advertising
316.00
3,603.52
3,287.52*
Total New Business Ex-
penses
$ 379.57
$ 6,671.00
$ 6,291.43*
VI-Miscellaneous and General Expenses:
666 Salary of Manager
$ 5,980.00 $
5,980.00 $
.00
667 Salaries of General Office Clerks
8,170.18
7,976.88
193.30
668 General Office Supplies
and Expenses
1,734.44
2,235.75
501.31*
668-1 General Office Expense
(Moving)
629.16
.00
629.16
669 General Office Rents
619.85
1,193.25
573.40*
671 Insurance
2,025.86
2,243.53
217.67*
673 Accidents and Damages
34.59
25.84
8.75
674 Stores Expense
2,942.50
3,427.64
485.14*
675 Transportation Expense ..
3,044.63
2,458.02
586.61
676 Inventory Adjustments . ..
783.00
2,260.08
1,477.08*
677 Maintenance of General Structures
173.99
561.11
387.12*
677-1 Maintenance of General Structures (New Bldg)
138.53
.00
138.53
678 Depreciation
33,318.50
32,339.39
979.11
679 Miscellaneous General Ex- pense
226.66
290.72
64.06*
Total Miscellaneous and
General Expenses
$ 59,821.89
$ 60,992.21
$ 1,170.32*
Total Operating Expenses . $271,839.70
$261,526.27
$ 10,313.43
227
SCHEDULE "3" TOWN OF READING-MUNICIPAL LIGHT DEPARTMENT BONDS AND NOTES AUTHORIZED, ISSUED AND OUTSTANDING AS AT DECEMBER 31, 1939
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