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CITY OF SOUTH BEND <br />NOTES TO FINANCIAL STATEMENTS <br />(Continued) <br />Condensed Statement of Revenues, Expenses and Changes in Net Assets <br />Operating revenues $ 1,689,984 <br />Depreciation expense 149,639 <br />Other operating expenses 1,370,167 <br />Operating income 170,178 <br />Nonoperating revenues (expenses): <br />Investment earnings 20,062 <br />Interest expense (245,603) <br />Amortization (4,335) <br />Loss on sale of fixed assets (8,363) <br />Transfers (14,873) <br />Change in net assets (82,934) <br />Beginning net assets (716,297) <br />Ending net assets $ (799,231) <br />Condensed Statement of Cash Flows <br />Net cash provided (used) by: <br />Operating activities $ 317,316 <br />Noncapital financing activities 334,127 <br />Capital and related financing activities (687,203) <br />Investing activities 16,336 <br />Net increase (decrease) (19,424) <br />Beginning cash and cash equivalents 1,432,771 <br />Ending cash and cash equivalents $ 1,413,347 <br />1. Restricted Assets <br />The balances of restricted asset accounts in the enterprise funds are as follows: <br />47 <br />