The City of Grafton’s records reflected the following budget and actual data for the General Fund for the fiscal year ended June 30, 2012.
1. Estimated revenues:
Taxes (Property) ..... $3,000,000
Licenses and permits .... 800,000
Intergovernmental revenues ... 300,000
Miscellaneous revenues .... 200,000
2. Revenues:
Taxes (Property) ..... $3,000,000
Licenses and permits .... 801,320
Intergovernmental revenues ... 293,000
Miscellaneous revenues .... 198,000
3. Appropriations:
General government ..... $ 900,000
Public safety ........ 2,000,000
Health and welfare ..... 1,400,000
4. Expenditures of 2012 appropriations:
General government ..... $ 880,000
Public safety ......... 1,949,000
Health and welfare ...... 1,398,000
5. Encumbrances of 2012 appropriations, outstanding as of June 30, 2012.
General government ........ $18,000
Public safety .......... 50,000
6. Transfer to debt service fund:
Budget ............. $600,000
Actual .............. 600,000
7. Budget revisions approved by the 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, 2011, was $1,038,000.
Required:
Use the Excel file provided to prepare a budgetary comparision schedule for the City of Grafton for the fiscal year ended June 30, 2012. Include outstanding encumbrances with expenditures. Use the formula feature (e.g., sum, =, etc.) of Excel to calculate the amounts in cells shaded blue.