Question

The city of Grafton's records reflected the following budget and actual data for the general fund for the the fiscal year ended June 30, 2017

1. Estimated revenues:

Taxes(property) $3,213,000

Licenses and permits 790,000

Intergovernmental revenues 310,000

Miscellaneous revenues 200,000

2. Revenues

Taxes (Property) 3,216,000

Licenses and permits 792,000

Intergovernmental revenues 299,000

Miscellaneous revenues 195,000

3. Appropriations

General Government 920,000

Public safety 2,090,000

Health and welfare 1,398,000

4. Expenditures

General government 920,000

Public safety 2,005,000

Health and welfare 1,398,000

5. Encumbrances outstanding as of june 30, 2016

General Government 33,000

Public safety 82,000

6. Transfer to debt service fund

Budget 120,000

Actual 120,000

7. Budget revisions approved by city council

Estimated revenues:

Decrease intergovernmental revenues 10,000

Decrease miscellaneous revenues 3,000

Appropriations:

Decrease general government 2,000

8. Total fund balance at july 1, 2016 was 720,000

Required: Use the excel file provided to prepare a budgetary comparison schedule for the city of Grafton for the fiscal year ended june 30, 2017. Include outstanding encumbrances with expenditures. Use formula feature (e.g sum = etc) of excel to calculate the amounts in cells shaded blue.   

CITY OF Grafton
Schedule of Revenues, Expenditures and Changes in Fund Balance -
Budget and Actual: General Fund	(Non-GAAP Budgetary Basis)
For The Year Ended December 31, 2017
	Budgeted Amounts
REVENUES	Original	Final	Actual Amounts Budgetary Basis	Variance with Final Budget
Property Taxes
Licenses and permits
Intergovernmental
Miscellaneous
TOTAL REVENUES
EXPENDITURES AND ENCUMBRANCES
Current:
General Government
Public Safety
Health and Welfare
TOTAL EXPENDITURES
REVENUES OVER (UNDER) EXPENDITURES
OTHER FINANCING SOURCES (USES):
Transfers (to) other funds
TOTAL OTHER FINANCING SOURCES (USES)
Excess of revenues and other sources over
(under) expenditures and other uses
FUND BALANCE - Beginning of Year
FUND BALANCE - End of Year

Answer 1

	Budgeted Amounts
REVENUES	Original	Final	Actual Amounts Budgetary Basis	Variance with Final Budget
Property Taxes	$   3,213,000.00	$   3,213,000.00	$   3,216,000.00	$          3,000.00
Other Local Taxes	$      790,000.00	$      790,000.00	$      792,000.00	$          2,000.00
Intergovernmental	$      310,000.00	$      300,000.00	$      299,000.00	$         (1,000.00)
Miscellaneous	$      200,000.00	$      197,000.00	$      195,000.00	$         (2,000.00)
TOTAL REVENUES	$   4,513,000.00	$   4,500,000.00	$   4,502,000.00	$          2,000.00
EXPENDITURES
Current
General Government	$      920,000.00	$      918,000.00	$      920,000.00	$          2,000.00
Public Safety	$   2,090,000.00	$   2,090,000.00	$   2,005,000.00	$       (85,000.00)
Health and Welfare	$   1,398,000.00	$   1,398,000.00	$   1,398,000.00	$                     -
TOTAL EXPENDITURES	$   4,408,000.00	$   4,406,000.00	$   4,323,000.00	$       (83,000.00)
REVENUES OVER (UNDER) EXPENDITURES	$      105,000.00	$        94,000.00	$      179,000.00	$        85,000.00
OTHER FINANCING SOURCES (USES):
Transfers (to) other funds	$     (120,000.00)	$     (120,000.00)	$     (120,000.00)	$                     -
	$     (120,000.00)	$     (120,000.00)	$     (120,000.00)	$                     -
Excess of revenues and other sources over
(under) expenditures and other uses	$       (15,000.00)	$       (26,000.00)	$        59,000.00	$        85,000.00
FUND BALANCE - Beginning of Year	$      720,000.00	$      720,000.00	$      720,000.00	$                     -
FUND BALANCE - End of Year	$      705,000.00	$      694,000.00	$      779,000.00	$        85,000.00