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r <br />i <br />CITY OF RAMSEY <br />Street Light Fund <br />Comparative Statement of Revenue, Expenses, and Changes in Retained Earnings <br />Years Ended December 31, 1998 and 1997 <br />Exhibit F-11 <br />1998 1997 <br />Operating revenue <br />Charges for services $ 77,672 $ 53,710 <br />Operating expenses <br />Other 31,956 28,953 <br />Depreciation 8,381 7,951 <br />Total operating expenses 40,337 36,904 <br />Operating income 37,335 16,806 <br />Nonoperating revenue <br />Interest income 10,664 4,462 <br /> <br />Income before operating transfers 47,999 2],268 <br />Operating transfers (out) (2,000 (1,500) <br /> <br />Net income 45,999 19,768 <br />Retained earnings <br />Beginning of year 92,633 72,865 <br /> <br />End of year $ 138,632 $ 92,633 <br />-82- <br />