At the beginning of the current year, a township formally adopted its budget and recorded it in the general ledger. Budgeted revenues were $500,000 and the budgeted expenditures were $490,000. During the year, actual revenues were $520,000 and actual expenditures were $480,000. After all closing journal entries have been processed, fund balance at the end of the current year in comparison to fun balance at the end of the preceding year will be

$50,000 greater

$30,000 greater

$40,000 greater

$10,000 greater