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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, 1996 and 1995 <br />1996 1995 <br />Operating Revenue: <br />Water sales $ 235,103 $ 147,714 <br />Miscellaneous operating revenues 53,755 15,589 <br />Total Operating Revenue 288,858 163,303 <br />Operating Expenses: <br />Personal services 29,983 18,203 <br />Supplies 48,910 40,202 <br />Services and charges - <br />Other 64,758 38,714 <br />Depreciation 137,145 109,273 <br />Total Operating Expenses 280,796 206,392 <br />Operating Income (Loss) 8,062. (43,089) <br />Nonoperating Revenue: <br />Interest earned on investments 153,728 112,845 <br />Net Income before operating transfers 161,790 69,756 <br />Operating transfer (out) to other funds: <br />General Fund (6,000) (5,000) <br />NET INCOME 155,790 64,756 <br />Retained earnings -beginning of year 108,469 43,713 <br />Retained Earnings -End of Year $ 264,259 $ 108,469 <br />-72- <br />