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CITY OF RAMSEY <br />Exhibit F-14 <br />Recycling Utility Fund <br />Comparative Statement of Revenue, Expenses, and Changes in Retained Earnings <br />Years Ended December 31, 1998 and 1997 <br />1998 1997 <br />Operating revenue <br />Charges for services $ 87,427 $ 62,135 <br />Other 39,478 39,873 <br />Total operating revenue 126,905 102,008 <br />Operating expenses <br />Personal services 3,277 248 <br />Supplies 2,736 401 <br />Services and charges <br />Disposal charges 109,683 73,667 <br />Other 1,805 1,224 <br />Total operating expenses 117,501 75,540 <br /> <br />Operating income 9,404 26,468 <br />Nonoperating revenue <br />Interest income 814 361 <br /> <br />Income before operating transfers 10,218 26,829 <br />Operating transfers (out) (1,500) 1,000 <br /> <br />Net income 8,718 25,829 <br />Retained earnings <br />Beginning of year 56,942 31,113 <br /> <br />End of year $ 65,660 $ 56,942 <br />-85- <br />