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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, 2003 and 2002 <br />Exhibit F -9 <br />2003 2002 <br />Operating revenue <br />Charges for services $ 96,002 $ 113,545 <br />Operating expenses <br />Service charges <br />Other 50,743 42,598 <br />Depreciation 16,852 15,724 <br />Total operating expenses 67,595 58,322 <br />Operating income 28,407 55,223 <br />Nonoperating revenue <br />Capital contributions 95,100 57,816 <br />Investment earnings 7,832 11,891 <br />Total nonoperating revenue 102,932 69,707 <br />Income before operating transfers 131,339 124,930 <br />Operating transfers (out) (6,000) (5,500) <br />Net income 125,339 119,430 <br />Retained earnings <br />Beginning of year 390,942 271,512 <br />End of year $ 516,281 $ 390,942 <br />