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<br />Exhibit F-11
<br />CITY OF ORONO, MINNESOTA
<br />Golf Course Operating Fund
<br />Comparative Statement of Revenue, Expenses, and Changes in Retained Earnings
<br />Years Ended December 31,1996 and 1995
<br />Sales and cost of sales
<br />Sales
<br />Cost of sales
<br />Gross profit
<br />Operating revenue
<br />Greens fees
<br />Equipment rental
<br />Other
<br />Total operating revenue
<br />Total gross profit and operating revenue
<br />Operating expenses
<br />Salaries and wages
<br />Retirement contributions
<br />Health and life insurance contributions
<br />Professional services
<br />Operating and maintenance supplies
<br />Heat, light, and power
<br />Depreciation
<br />Rent and equipment
<br />Maintenance and repairs
<br />Administrative charges from General Fund
<br />Communications
<br />Office supplies
<br />Printing, publishing, and advertising
<br />Insurance
<br />Other expenses
<br />Total operating expenses
<br />Operating income
<br />Nonoperating revenue (expense)
<br />Interest earned on investments
<br />Loss on disposal of assets
<br />Total nonoperating revenue (expense)
<br />Net income
<br />Credit for depreciation on contributed equity
<br />Increase in retained earnings
<br />Retained earnings
<br />Beginning of year
<br />End of year
<br />-91-
<br />268,844 228,221
<br />$ 326^653 $ 268,844
<br />1996 1995
<br />$ 19,163 $ 17,728 1
<br />11,315 10,467
<br />7,848 7,261
<br />^ •
<br />152,947 136,809
<br />31,523 29,084
<br />35 780
<br />184,505 166,673
<br />192,353 173,934
<br />•
<br />61,930 62,033
<br />4,524 4,843
<br />3,772 3,621 ’
<br />3,075 2,053
<br />7,891 8,267 • —
<br />4,092 2,930
<br />8,416 13,021
<br />6,977 5,456 ■
<br />8,452 7,238
<br />10,350 10,120 •Mi-
<br />1,381 1,590
<br />214 216 i
<br />5,396 4,522
<br />16,893 14,717
<br />1,295 1,543
<br />144,658 142,170
<br />#"•
<br />47,695 31.764 1
<br />i
<br />k
<br />12,573 8,150
<br />(3,252)—
<br />9,321 8,150 1
<br />57,016 39,914
<br />793 709 0- •
<br />57,809 40,623
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