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Can you help me analyze this budget variance report? which variances should be investigated and why? City of Somerville, MA Budgeted Expenditures (hypothetical) For Year
Can you help me analyze this budget variance report? which variances should be investigated and why?
City of Somerville, MA Budgeted Expenditures (hypothetical) For Year Ended December 31, 2016 2016 Variance Variance ole Expenditure (Item Class) Advertising Athletics expense Bonds and debt-related expenditures Books Dues and subscriptions Education-related Miscellaneous line item Professional services expense Property, plant and equipment Rental expense Repairs and maintenance expense Supplies expense Technology expense Utilities expense Total expenditures Budget Actual $ 66,048 $ 67,369 $ $ 36,400 $ 37,857 $ $ 62,334,155 $ 62,957,497 $ $ 17,698 $ 22,654 $ $ 154,062 $ 183,334 $ $ 294,264 $ 329,577 $ $ 43,799,465 $ 45,551,444 $ $ 7,339,418 $ 9,174,273 $ $ 5,700,126 $ 6,042,134 $ $ 407,084 $ 390,801 $ $ 2,567,306 $ 2,978,076 $ $ 22,871 $ 22,643 $ $ 551,148 $ 606,264 $ $ 260,627 $ 304,934 $ $ 123,550,672 $ 128,668,856 $ (1,321) (1,457) (623,342) (4,956) (29,272) (35,313) (1,751,979) (1,834,855) (342,008) 16,283 (410,770) 228 (55,116) 144,307) (5,118,184) -2.00% -4.00% -1.00% -28.00% -19.00% -12.00% -4.00% -25.00% -6.00% 4.00% -16.00% 1.00% -10.00% -17.00% -139.01%Step by Step Solution
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