Reference no: EM132486052
The City of Fairport adopted the following budget for fiscal year 2020:
Anticipated Revenues:
Blank Property Taxes $ 4,040,000
Licenses and Permits 51,000
Fines and Forfeits 402,000
Total $ 4,952,000
Approved spending levels:
Blank General Government $ 1,550,000
Public Safety 2,300,000
Public Works 1,085,000
Total $ 4,935,000
In addition, the City reported the following actual amounts for the same fiscal year.
Revenues:
Blank Property Taxes $ 4,065,000
Licenses and Permits 546,000
Fines and Forfeits 384,000
Total $ 4,995,000
Expenditures - Current Year General Government $ 1,579,000
Public Safety 2,073,000
Public Works 1,204,000
Total $ 4,856,000
Encumbrances - Current Year Public Safety $ 117,000
- Includes expenditures related to 2019 encumbrances-Public Safety 40,000
Question 1: Make a budgetary comparison schedule for the City for the year ended December 31, 2020 assuming the fund balance of the General Fund (budgetary basis) was $627,000 at January 1, 2020. No "original budget" column is required. Include a "variance" column.
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Make a budgetary comparison schedule for the city
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