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CITY OF RAMSEY <br />Street Light Fund <br />Comparative Statement of Revenue, Expenses, and Changes in Retained Earnings <br />Years Ended December 31, 2002 and 2001 <br />Exhibit F -9 <br />2002 2001 <br />Operating revenue <br />Charges for services $ 113,545 $ 80,455 <br />Operating expenses <br />Other 42,598 41,298 <br />Depreciation 15,724 12,724 <br />Total operating expenses 58,322 54,022 <br />Operating income 55,223 26,433 <br />Nonoperating revenue <br />Capital contributions 57,816 — <br />Investment earnings 11,891 10,786 <br />Total nonoperating revenue 69,707 10,786 <br />Income before operating transfers 124,930 37,219 <br />Operating transfers (out) (5,500) (5,000) <br />Net income 119,430 32,219 <br />Retained earnings <br />Beginning of year, as previously stated 250,712 218,493 <br />Prior period adjustment 20,800 — <br />Beginning of year, as restated 271,512 218,493 <br />End of year $ 390,942 $ 250,712 <br />