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Exhibit F-12 <br />CITY OF RAMSEY <br />Storm Water Utility Fund <br />Comparative Balance Sheet <br />As of December 31, 2001 and 2000 <br />2001 2000 <br />Assets <br />Current assets <br />Receivables <br />Accounts $ 91,928 $ 105,256 <br />Property, plant, and equipment <br />Improvements other than buildings 1,492,024 649,516 <br />Accumulated depreciation 43,557 12,990 <br />Net property, plant, and equipment 1,448,467 636,526 <br />Total assets $ 1,540,395 $ 741,782 <br />Liabilities and Fund Equity <br />Current liabilities <br />Accounts payable $ — $ 19,107 <br />Due to other funds 111,178 303,321 <br />Total current liabilities 111,178 322,428 <br />Fund equity <br />Contributed capital 1,058,480 265,517 <br />Retained eamings <br />Unreserved 370,737 153,837 <br />Total fund equity 1,429,217 419,354 <br />Total liabilities and fund equity $ 1,540,395 $ 741,782 <br />-75- <br />