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Exhibit F-5 <br />CITY OF RAMSEY <br />Water Utility Fund <br />Comparative Statement of Revenue, Expenses, and Changes in Retained Earnings <br />Years Ended December 31, 2001 and 2000 <br />2001 2000 <br />Operating revenue <br />Charges for services $ 551,680 $ 496,100 <br />Other 43,078 18,886 <br />Total operating revenue 594,758 514,986 <br />Operating expenses <br />Personal services 72,066 51,558 <br />Supplies 71,253 74,278 <br />Service charges <br />Other 100,697 93,546 <br />Depreciation 236,261 188,883 <br />Total operating expenses 480,277 408,265 <br />Operating income 114,481 106,721 <br />Nonoperating revenue <br />Investment earnings 233,849 297,086 <br />Income before operating transfers 348,330 403,807 <br />Operating transfers (out) (12,000) (10,000) <br />Net income 336,330 393,807 <br />Retained earnings (deficit) <br />Beginning of year 322,821 (70,986) <br />End of year $ 659,151 $ 322,821 <br />-68- <br />