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Prepare a statement of revenues, expenditures, and changes in fund balance for the Street Improvement Bond Debt Service Fund for the year ended December 31,
Prepare a statement of revenues, expenditures, and changes in fund balance for the Street Improvement Bond Debt Service Fund for the year ended December 31, 2021.
Hint:
Statement of revenues, expenditures, and changes in fund balances - total revenues 666,983 total expenditures 132,500 excess of revenues over expenditures 534,483
fund balances 12/31 649,483
City of Smithville | |||
Street Improvement Bond Debt Service Fund | |||
Pre-closing Trial Balance | |||
For year 2021 | |||
Debits | Credits | ||
Cash | $ 311,687 | ||
Taxes Receivable-Delinquent | 45,000 | ||
Allowance for Uncollectible Delinquent Taxes | $ 20,000 | ||
Interest and Penalties Receivable on Taxes | 3,600 | ||
Allowance for Uncollectible Interest and Penalties | 180 | ||
Investments | 317,500 | ||
Deferred Inflows of Resources | 8,124 | ||
Fund Balance-Restricted | 25,000 | ||
Budgetary Fund Balance | 630,687 | ||
Estimated Revenues-Taxes | 640,000 | ||
Estimated Revenues-Investment Income | 5,687 | ||
Estimated Revenues-Accrued Interest on Bonds Sold | 27,500 | ||
Estimated Other Financing Sources-Premium on Bonds | 90,000 | ||
Revenues-Taxes | 632,560 | ||
Revenues-Interest and Penalties on Taxes | 2,736 | ||
Revenues-Investment Income | 4,187 | ||
Revenues-Accrued Interest on Bonds Sold | 27,500 | ||
Other Financing Sources-Premium on Bonds | 90,000 | ||
Appropriations | 132,500 | ||
Expenditures-Bond Interest | 157,500 | ||
Totals for all accounts | $ 1,598,474 | $ 1,573,474 |
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