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CITY OF RAMSEY, MINNESOTA Exhibit F-5 <br />WATER UTILITY FUND <br />COMPARATIVE STATEMENT OF REVENUE, EXPENSES, AND CHANGES IN RETAINED EARNINGS <br />Years Ended December 31, 1997 and 1996 <br />Operating Revenue: <br />Water sales <br />Miscellaneous operating revenues <br />Total Operating Revenue <br />Operating Expenses: <br />Personal services <br />Supplies <br />Services and charges - <br />Other <br />Depreciation <br />Total Operating Expenses <br />Operating Income <br />Nonoperating Revenue: <br />Interest earned on investments <br />Net Income before operating transfers <br />Operating transfer (out) to other funds: <br />General Fund <br />NET INCOME <br />Retained earnings -beginning of year <br />Equity transfer in <br />Retained Earnings -End of Year <br />1997 1996 <br />$ 298,170 $ 235,103 <br />50,161 53,755 <br />348,331 288,858 <br />42,232 29,983 <br />46,172 48,910 <br />69,034 64,758 <br />150,800 137,145 <br />308,238 280,796 <br />40,093 8,062 <br />117,933 153,728 <br />158,026 161,790 <br />(7,000) (6,000) <br />151,026 155,790 <br />264,259 108,469 <br />66,164 - <br />$ 481,449 $ 264,259 <br />-70- <br />