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<br />CITY OF RAMSEY
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<br />Statement of Revenue, Expenses, and Changes in Net Assets
<br />Proprietary Funds
<br />Year Ended December 31, 2007
<br />
<br /> Business-Type Activities - Enterprise Funds
<br /> Water Utility Sewer Utility Street Light
<br />Operating revenue
<br />Charges for services $ 1,438,893 $ 1,093,170 $ 173,541
<br />Sewer access surcharge 4,395
<br />Other 1,765 3,383
<br />Total operating revenue 1,440,658 1,100,948 173,541
<br />Operating expenses
<br />Personal services 188,809 47,686
<br />Supplies 152,577 5,233
<br />Service charges
<br />Disposal charges 399,681
<br />Other 149,503 38,011 83,334
<br />Depreciation 421,205 347,841 27,503
<br />Total operating expenses 912,094 838,452 110,837
<br />Operating income (loss) 528,564 262,496 62,704
<br />Nonoperating revenue
<br />Investment earnings 640,223 330,824 54,628
<br />Total nonoperating revenue 640,223 330,824 54,628
<br />Income before contributions and transfers 1,168,787 593,320 117,332
<br />Capital contributions 1,055,145 986,111 65,420
<br />Transfers in
<br />Transfers out (22,000) (17,000) (10,000)
<br />Change in net assets 2,201,932 1,562,431 172,752
<br />Net assets
<br />Beginning of year 32,293,011 23,044,996 1,247,516
<br />End of year $ 34,494,943 $ 24,607,427 $ 1,420,268
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<br />See notes to basic fmancial statements
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