Instructions: Using the information provided below for the City of Grafton, complete the Budgetary Comparison Schedule provided below. You should use cell references or Excel formuals for each dollar amount shown in the schedule. Excel formuals are required for each highlighted cell. Submit this completed Excel template via Blackboard by the due date listed on the Course Calendar. Problem Facts: The city of Grafton's records reflect the following budget and actal data for the General Fund for the fiscal year ended June 30, 2017 1. Estimate Revenues: Taxes (Property) $3,213,000 Licenses and permits 790,000 Intergovernmental revenues 310,000 Miscellaneous revenues 200,000 2. Revenues (Actual): Taxes (Property) Licenses and permits Intergovernmental revenues Miscellaneous revenues $3,216,000 792,000 299,000 195,000 3. Appropriations: General Government Public Safety Health and Welfare $920,000 2,090,000 1,400,000 4. Expenditures: General Government Public Safety Health and Welfare $880,000 2,005,000 1,398,000 5. Transfer to debt service fund: Budget Actual $120,000 120,000 6. Budget Revisions approved by city council: Estimated Revenues: Decrease intergovernmental revenues Decrease miscellaneous revenues Apppropriations: Decrease general government $10,000 $3,000 $2,000 CITY OF GRAFTON Budgetary Comparison Schedule: General Fund For The Year Ended June 30, 2017 Budgeted Amounts Actual Amounts Original Final Budgetary Basis Variance with Final Budget REVENUES Property Taxes Licenses and permits Intergovernmental revenues Miscellaneous revenues 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 720,000 720,000 720,000