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The town council of Riverside estimated revenues for 2020 to be $842,147 from property taxes and $202,853 from business licenses. The appropriations budget from the council was as follows: General government Parks and recreation Sanitation Streets and sidewalks $408,000 136,000 116,000 186,000 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 $76,000 for the parks and recreation budget and reduced the estimated revenues from business licenses by $56,000. The General Fund began the year with a balance of $62,000. During the year, tax collections totaled $844,800 and revenues from business licenses were $139,600. Expenditures were $378,000 for general government, $213,800 for parks and recreation, $118,900 for sanitation, and $170,333 for streets and sidewalks. There are no outstanding encumbrances at year-end. Required: Prepare a budgetary comparison schedule for the General Fund for 2020. (Negative variance amounts should be indicated by a minus sign. Leave no cells blank - be certain to enter "0" wherever required.) Answer is not complete. TOWN OF RIVERSIDE TOWN OF RIVERSIDE Budgetary Comparison Schedule General Fund For the Year Ended December 31, 2020 Budgeted Amounts Actual Amounts (Budgetary Basis) Variance with Final Budget Positive (Negative) Original Final Revenues: Property Taxes Business Licenses $ $ 842,147 202,853 $ 842,147 $ 844.800 202,853 x 139,600 (1,000) 1,000 1,045,000 1,045,000 984,400 0 Total Revenues Expenditures and Encumbrances: General Government Parks and Recreation Sanitation Streets and Sidewalks 408,000 136,000 116,000 186,000 408,000 136,000 116,000 186,000 378,000 213,800 118,900 170,333 881,033 0 846,000 199,000 103,367 Total Expenditures and Encumbrances Excess (Deficiency) of Revenues Over Expenditures and Encumbrances Fund Balance, Beginning Fund Balance, Ending.... 846,000 199,000 62,000 $ 261,000 62,000 $ 261,000 62,000 165,367 $ $ 0