City of Bingham Debt Service Fund Statement of Revenues, Expenditures, and Changes in Fund Balances For the Year Ended December 31, 2017 Revenues Taxes-property $ 700,000 Interest and penalties on taxes 1,080 Investment income 7,500 Total Revenues 708,580 Expenditures Principal $ 500,000 Interest 312,500 Total Expenditures 812,500 Excess of Revenues Over Expenditures 103,920) Other Financing Sources (Uses) Premium on Bonds 75,000 Interfund transfers in 57,000 Total Other Financing Sources/Uses 132,000 Increase (Decrease) in Fund Balances 28,080 Fund Balances, January 1 989,640 Fund Balances, December 31 $ 1,017,720 ii) You will prepare this document for Chapter 6 of the Smithville project