BOARD OF WATER AND LIGHT- LANSING, MICHIGAN		Attachment 1 -  to Resolution #2001-5-1
BUDGET FISCAL YEAR ENDING JUNE 30, 2002
	WATER	ELECTRIC	STEAM	TOTAL
PROJECTED INCOME STATEMENT $(000)  FISCAL YEAR 2002
Chilled Water included in steam utility;	Central Utilities Complex (CUC) profit in other income
Excludes CUC in Cash/Debt/Capital;	Excludes NOx in Bond/Capital
SALES ccf/kwh/mlb	10,568,000	3,218,876,000	2,895,000
OPERATING REVENUE	19,749	170,612	26,394	216,755
Operation and Maintenance Expense	14,778	139,709	15696	170,183
Depreciation Expense	3,688	17,731	3,102	24,521
TOTAL OPERATING EXPENSE	18,466	157,440	18,798	194,704
OPERATING INCOME	1,283	13,172	7,596	22,051
Other Income	1313.7	2481.05	343.05	4,138
Other Expense (ex CUC)	920	1,508	1,593	4,021
NET INCOME	1,677	14,145	6,346	22,168
NET INCOME AFTER PILT	990.443	8470.605	5306.947	14,768
ROA (3/31/01)  (ex CUC)	0.8%	3.8%	8.6%	3.6%
OPERATING RATIO	97.0%	95.6%	75.2%	93.2%
PROJECTED CASH FLOW $(000)  FISCAL YEAR 2002
Restricted Operating Cash	2195	17603	1861	21,659
Restricted General Cash	4079	7361	860	12,300
Special Project/Construction Cash (ex CUC)	0	7,632	4,802	12,434
BEGINNING CASH 7-1-2001	6,274	32,596	7,523	46,393
Sources of Cash
Net Income	1676.7	14145.05	6346.05	22,168
Bond Proceeds	0	0	0	0
Depreciation	3,688	17,731	3,102	24,521
TOTAL SOURCES OF CASH	5,365	31,876	9,448	46,689
SOURCES OF CASH + BEGINNING CASH	11638.7	64472.05	16971.05	93,082
Uses of Cash
Debt Principal (ex CUC)	1116	1807	2476	5,399
Transfer Repayment	778	-1214	436	0
Capital Expenditures (ex CUC)	5412	25153	7457	38,022
Payment In Lieu of Tax (PILT)	686	5,674	1,039	7,400
TOTAL USES OF CASH	7,992	31,420	11,408	50,821
Restricted Operating Cash	1847	17464	1962	21,273
Restricted General Cash	4282.95	7729.05	903	12,915
Special Project/Construction Cash	(2,484)	7,859	2,698	8,073
ENDING CASH 6-30-2002	3,646	33,052	5,563	42,261