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CITY OF RAMSEY, MINNESOTA Exhibit F -5 <br />WATER UTILITY FUND <br />COMPARATIVE STATEMENT OF REVENUE, EXPENSES, AND CHANGES IN RETAINED EARNINGS <br />Years Ended December 31, 1995 and 1994 <br />1995 1994 <br />Operating Revenue: <br />Water sales $ 147,714 $ 128,916 <br />Miscellaneous operating revenues 15,589 16,687 <br />Total Operating Revenue 163,303 145,603 <br />Operating Expenses: <br />Personal services 18,203 16,689 <br />Supplies 40,202 16,730 <br />Services and charges - <br />Other 38,714 32,168 <br />Depreciation 109,273 84,579 <br />Total Operating Expenses 206,392 150,166 <br />Operating (Loss) (43,089) (4,563) <br />Nonoperating Revenue: <br />Interest earned on investments 112,845 38,487 <br />Net Income before operating transfers 69,756 33,924 <br />Operating transfer (out) to other funds: <br />General Fund (5,000) (4,000) <br />NET INCOME 64,756 29,924 <br />Retained earnings (deficit) - beginning of year (9,413) (39,337) <br />Prior period adjustment 53,126 <br />Retained earnings (deficit) - beginning of year, as restated 43,713 (39,337) <br />Retained Earnings (Deficit) - End of Year $ 108,469 $ (9,413) <br />—74— <br />