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Operating income <br />CITY OF RAMSEY <br />Storm Water Utility Fund <br />Comparative Statement of Revenue, Expenses, and Changes in Retained Earnings <br />Years Ended December 31, 2003 and 2002 <br />Exhibit F -13 <br />2003 2002 <br />Operating revenue <br />Charges for services $ 332,784 $ 332,026 <br />Operating expenses <br />Personal services 50,015 32,831 <br />Supplies 14,671 4,036 <br />Service charges <br />Other 99,178 25,427 <br />Depreciation 81,758 60,886 <br />Total operating expenses 245,622 123,180 <br />87,162 208,846 <br />Nonoperating revenue <br />Capital contributions 916,527 1,320,738 <br />Investment earnings 5,717 1,289 <br />Total nonoperating revenue 922,244 1,322,027 <br />Income before operating transfers 1,009,406 1,530,873 <br />Operating transfers (out) (5,000) (4,500) <br />Net income 1,004,406 1,526,373 <br />Retained earnings <br />Beginning of year 2,148,498 622,125 <br />End of year $ 3,152,904 $ 2,148,498 <br />