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Schedule 4 <br />CITY OF GEM LAKE, MINNESOTA <br />SEWER ENTERPRISE FUND <br />STATEMENTS OF REVENUES, EXPENSES AN❑ <br />CHANGES IN RETAINED EARNINGS <br />For the Years Ended December 31, 2006 and.2005 <br />Operating Revenues <br />Charges for services <br />Operating Expenses <br />Depreciation <br />Met Council user fees <br />Engineering fees <br />Repairs and maintenance <br />Outside services <br />Miscellaneous <br />Office .supplies and expense <br />Total Operating Expenses <br />Operating Income <br />Nonoperating Revenues <br />Interest income <br />Net Income Before Transfers. <br />Transfer to .General Fund <br />Transfer to Capital Projects Fund <br />NET INCOME tLD.SS) <br />RETAINED EARNINGS, JANUARY 1 <br />RETAINED EARNINGS, DECEMBER 31 <br />See Independent Accountant's. Compilation Report <br />11 <br />2006 2005 <br />$ 47,052 $ 45,659 <br />980 <br />980 <br />12,922 <br />11,429 <br />11,102 <br />20,900 <br />500 <br />1,361 <br />5,40.1 <br />4,556 <br />1,615 <br />5.55 <br />- <br />225 <br />32,520 <br />39;806 <br />14,532 5,853 <br />5,176 7,566 <br />19,708 13.419 <br />(160,000) (1,600) <br />(24,430) - <br />(164,722) 11,919 <br />302,363 290,944 <br />$ 148441 $ 302,863 <br />