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Water Sewer Total <br />Operating revenue <br />Charges for services 26,330$ 61,942$ 88,272$ <br />Operating expenses <br />Operating expenses 50,486 48,406 98,892 <br />Depreciation 13,469 16,066 29,535 <br />Total operating expenses 63,955 64,472 128,427 <br />Operating income (loss)(37,625) (2,530) (40,155) <br />Nonoperating income (expense) <br />Investment earnings (charges)2,194 (17,892) (15,698) <br />Change in net position (35,431) (20,422) (55,853) <br />Net position <br />Beginning of year 603,450 1,105,452 1,708,902 <br />End of year 568,019$ 1,085,030$ 1,653,049$ <br />Business-Type Activities – Enterprise Funds <br />CITY OF GEM LAKE <br />Statement of Revenue, Expenses, and Changes in Net Position <br />Proprietary Funds <br />Year Ended December 31, 2022 <br />See notes to basic financial statements -16-