Exercise $3-13($Algo$)$

The town council of Riverside estimated revenues for $2024$ to be $$745,441$ from property taxes and $$171,559$ rom business licenses. The appropriations budget from the council was as follows:

General government $$400,000$ Parks and recreation $120,000$ Sanitation $100,000$ Streets and sidewalks $170,000$

In April, heavy spring rains caused some flooding near the river. As a result, a picnic area at River$$s Edge Park was ruined and several damaged shops had to shut down. The council adopted an upward revision of $$60,000$ for the parks and recreation budget and reduced the estimated revenues from business licenses by $$40,000.$

The General Fund began the year with a balance of $$54,000.$ During the year, tax collections totaled $$748,000$ and revenues from business licenses were $$130,000.$ Expenditures were $$370,000$ for general government, $$181,000$ for parks and recreation, $$98,500$ for sanitation, and $$162,333$ for streets and sidewalks. There are no outstanding encumbrances at year$-$end.

Required:

Prepare a budgetary comparison schedule for the General Fund for $2024.$

Note: Negative variance amounts should be indicated by a minus sign. Leave no cells blank $-$ be certain to enter $"0"$ wherever required. Note: Negative variance amounts should be indicated by a minus sign. Leave no cells blank $-$ be certain to enter $"0"$ wherever required.