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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, 1999 and 1998 <br />1999 1998 <br />Operating revenue <br />Charges for services $ 399,960 $ 393,749 <br />Other 24,882 96,783 <br />Total operating revenue 424,842 490,532 <br />Operating expenses <br />Personal. services 48,149 43,137 <br />Supplies 64,262 63,068 <br />Service charges <br />Other 106,465 101,271 <br />Depreciation 177,690 168,678 <br />Total operating expenses 396,566 376,154 <br />Operating income 28,276 114,378 <br />Nonoperating revenue <br />Investment earnings 101,303 174,027 <br />Income before operating transfers 129,579 288,405 <br />Operating transfers in F 269,590 - <br />Operating transfers (out) (679,799) (560,210) <br />Total operating transfers (410,209) (560,210) <br />Net loss (280,630) (271,805) <br />Retained earnings (deficit) <br />Beginning of year 209,644 481,449 <br />End of year $ (70,986) $ 209,644 <br />-67- <br />