The information below pertains to the debt service fund for the Village of Greenville for the year ended December 31, 2021:
➢ Fund balance restricted at December 31, 2020$52,000
➢ Property tax levy for 2021 to service general obligation serial bonds 84,500
➢ Estimated revenue from property taxes in the debt service fund
budget for 2021 (the entire amount is expected to be collected either
during 2021 or within 60 days after 12/31/21)82,000
➢ Property taxes collected during 202179,000
➢ Matured interest paid during 202149,000
➢ Matured bond principal paid during 202120,000
➢ Fiscal fees incurred during 20214,000
➢ Fiscal fees paid during 20213,500
➢ Accrued but unmatured interest on general obligation serial bonds
at 12/31/216,000
➢ Bond principal that will mature in April, 2022 20,000
➢ Transfer in from a terminated capital projects fund during 20218,000
Required: Prepare, in good form, the statement of revenues, expenditures, and changes in fund balance for the debt service fund for the Village of Greenville for the year ended December 31, 2021.
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