b. Prepare a statement of revenues, expenditures, and changes in fund balances for the debt service fund for the year ended December 31, 2020 SANDY BEACH Debt Service Fund Statement of Revenues, Expenditures and Changes in Fund Balance For the Year Ended December 31, 2020 Revenues Property Taxes $ 1.070,000 Expenditures Bond Interest s 447,500 Bond Principal 1,000,000 Total Expenditures Excess of Revenues Over Expenditures Other Financing Sources (Uses) Interlund Transfers in 1,447,500 (377 500) 447,500 Increase in Fund Balance Fund Balance, January 1, 2020 Fund Balance December 31, 2020 70,000 490,000 560,000 $ b. Prepare a statement of revenues, expenditures, and changes in fund balances for the debt service fund for the year ended December 31, 2020 SANDY BEACH Debt Service Fund Statement of Revenues, Expenditures and Changes in Fund Balance For the Year Ended December 31, 2020 Revenues Property Taxes $ 1.070,000 Expenditures Bond Interest s 447,500 Bond Principal 1,000,000 Total Expenditures Excess of Revenues Over Expenditures Other Financing Sources (Uses) Interlund Transfers in 1,447,500 (377 500) 447,500 Increase in Fund Balance Fund Balance, January 1, 2020 Fund Balance December 31, 2020 70,000 490,000 560,000 $