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The following is a summary of the operations of the fund for 1998 and 1997, respectively: <br />1998 .1997 <br />Operating revenues $ .77,672 $ 53,710 <br />Operating expenses 40,337 36,904 <br />Operating income $ 37,335 $ 16,806 <br />Fund equity consisted of the following on December 31, 1998, compared to the prior year: <br />1998 1997 <br />Contributed capital $ 122,183 $ 117,983 <br />Retained earnings 138,632 92,633 <br />Total fund equity $ 260,8.15 $ 210,616 <br />Recycling Utility Fund <br />The Recycling Utility Fund is used to account for all recycling revenues and expenses for the City. <br />Currently, those properties benefitting (residential) are billed quarterly for service. <br />The following is a summary of the operations of the fund for 1998, compared to the prior year: <br />1998 1997 <br />Operating revenues $ 126,905 $ 102,008 <br />Operating expenses 117,501 75,540 <br />Operating income $ 9,404 $ 26,468 <br />Fund Equity consisted of the following on December 31, 1998, compared to the prior year: <br />1998 1997 <br />Retained earnings $ 65,660 $ 56,942 <br />INTERNAL SERVICE FUND <br />The Internal Service Fund is used to account for the City's insurance refunds, dividends, and other <br />miscellaneous insurance related revenues, and to provide for self-insuring the deductible portions of the <br />City's insurance policies. The Internal Service Fund operates in a manner similar to Enterprise Funds; <br />however, the fund provides services primarily to other departments within the City. <br />-xx- <br />