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Exhibit F-7 <br />CITY OF RAMSEY <br />Sewer 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 $ 579,165 $ 481,100 <br />Sewer access surcharge 2,943 1,386 <br />Other 13,490 1,142 <br />Total operating revenue 595,598 483,628 <br />Operating expenses <br />Personal services 10,215 8,547 <br />Supplies — 3,178 <br />Services and charges <br />Disposal charges 237,569 332,580 <br />Other 16,500 15,453 <br />Depreciation 183,208 176,110 <br />Total operating expenses 447,492 535,868 <br />Operating income (loss) 148,106 (52,240) <br />Nonoperating revenue <br />Investment earnings 99,780 127,464 <br />Income before operating transfers 247,886 75,224 <br />Operating transfers (out) (8,000) (7,000) <br />Net income 239,886 68,224 <br />Retained earnings (deficit) <br />Beginning of year 18,014 (50,210) <br />End of year $ 257,900 $ 18,014 <br />-70- <br />