Grant County

Debt Service Fund

Pre-closing Trial Balance

June 30, 2017

Debits Credits

Cash $ 257,000

Investments 66,000

Fund Balance - Restricted $ 60,400

Budgetary Fund Balance ?

Estimated Other Financing Sources 6,919,000

Estimated Revenue 2,684,300

Revenue - Sales Taxes 1,425,200

Revenue - Investment Earnings 13,400

Other Financing Sources - Interfund Transfers In 181,000

Other Financing Sources-Proceeds of Refunding Bonds 7,920,000

Estimated Other Financing Uses 7,920,000

Appropriations 1,357,000

Expenditures - Bond Interest 527,000

Expenditures - Bond Principal 830,000

Other Financing Uses - Payment to Escrow Agent 7,920,000

b. What is the budgetary fund balance?

c. Did the debt service fund pay debt obligations related to capital leases?

d. Did the debt service fund perform a debt refunding?

e. Prepare a statement of revenues, expenditures, and changes in fund balances for the debt service fund for the year ended June 30, 2017. (Negative amounts should be indicated by a minus sign.) GRANT COUNTY Debt Service Fund Statement of Revenues, Expenditures and Changes in Fund Balances For the Year Ended June 30, 2017 Revenues Total Revenues Expenditures: Total Expenditures Excess of Revenues Under Expenditures Other Financing Sources (Uses) 0 Total Other Financing Sources (Uses): Increase In Fund Balances Fund Balances, July 1, 2016 Fund Balances, June 30, 2017 0 References eBook & Resources Financial Statements Leaning obeve 06-05 Explain the pu service funds Difficulty: 2 Medium Learning Objective: 06-06 Make