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CITY OF RAMSEY <br />Storm Water Utility Fund <br />Comparative Statement of Revenue, Expenses, and Changes in Retained Earnings <br />Years Ended December 31, 2002 and 2001 <br />Exhibit F -13 <br />2002 2001 <br />Operating revenue <br />Charges for services $ 332,026 $ 315,724 <br />Operating expenses <br />Personal services 32,831 14,990 <br />Supplies 4,036 620 <br />Service charges <br />Other 25,427 35,738 <br />Depreciation 60,886 30,567 <br />Total operating expenses 123,180 81,915 <br />Operating income 208,846 233,809 <br />Nonoperating revenue <br />Capital contributions 1,320,738 — <br />Investment earnings (charges) 1,289 (12,909) <br />Total nonoperating revenue 1,322,027 (12,909) <br />Income before operating transfers 1,530,873 220,900 <br />Operating transfers (out) (4,500) (4,000) <br />Net income 1,526,373 216,900 <br />Retained earnings <br />Beginning of year, as previously stated 370,737 153,837 <br />Prior period adjustment 251,388 — <br />Beginning of year, as restated 622,125 153,837 <br />End of year $ 2,148,498 $ 370,737 <br />