Reference no: EM133145278
Question - Debt service fund financial statement - 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 $52,500
Property tax levy for 2021 to service general obligation bonds 83,500
Estimated revenue from property taxes in the debt service fund budget for 2021 82,000
Property taxes collected during 2021 79,000
Property taxes expected to be collected from 1/1/22 to 3/1/22 3,000
Investment in U.S. treasury bills as of 12/31/21 51,000
Cash at 12/31/21 ?
Matured interest paid during 2021 45,000
Matured bond principal paid during 2021 30,000
Interest income from treasury bills for 2021 (includes $300 of accrued interest that will be received in February, 2022) 2,500
Fiscal fees incurred during 2021 4,000
Fiscal fees paid during 2021 3,000 > Accrued but unmatured interest on bonds at 12/31/21 6,000
Bond principal that will mature in April, 2022 20,000
Transfer in from a terminated capital projects fund during 2021 8,000
Required - Prepare the balance sheet for the debt service fund as of December 31, 2021.