Statement of Revenues Expenses and Changes in Fund Equity

CITY OF REVERE, MASSACHUSETTS Statement of Revenues, Expenses and Changes in Fund Equity Pension Trust Fund Year ended June 30, 1997
Revenues:
Investment income	$4,295,482
Net appreciation in fair value of stock investments	1,837,368
Intergovernmental	6,146,448
Members' contributions	1,287,228
Other	54,845
Total revenues	13,621,371
Expenses:
Benefits paid	7,941,730
Member refunds and reimbursements to other systems	214,572
Other	293,525
Total expenses	8,449,827
Net income	5,171,544
Fund equity, beginning of year	38,422,160
Fund equity, end of year	$43,593,704
See accompanying notes to general purpose financial statements.