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CITY OF RAMSEY, MINNESOTA <br />TAX INCREMENT FUND <br />STATEMENT OF REVENUE, EXPENDITURES, AND CHANGES IN FUND BALANCE <br />Years Ended December 31, 1997 and 1996 <br /> 1997 1996 <br />Revenue: <br />Tax increment $1,361,561 $1,385,389 <br />Charges for services 3,000 - <br />Other revenue - <br />Interest earned on investments 49,692 88,281 <br />Total Revenue 1,414,253 1,473,670 <br />Expenditures: <br />Current - <br />General government - <br />Services and charges 100,755 148,045 <br />Capital outlay 332,787 386,661 <br />Total Expenditures 433,542 534,706 <br />Excess of Revenue <br />Over Expenditures 980,711 938,964 <br />Other Financing Sources (Uses): <br />Operating transfers in 302,194 599,555 <br />Operating transfers (out) (2,288,861) (1,224,318) <br />Total Other Financing Sources (Uses) (1,986,667) (624,763) <br />EXCESS (DEFICIENCY) OF <br />REVENUE AND OTHER FINANCING <br />SOURCES OVER EXPENDITURES <br />AND OTHER FINANCING USES (1,005,956) 314,201 <br />Fund balance -beginning of year 1,790,739 1,476,538 <br />Fund Balance -End of Year $ 784,783 $1,790,739 <br />Exhibit C-3 <br />-43- <br />