Question

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

Answer 1