The budget for the city of Jamesville for the year ending December 31 was adopted and recorded on January 2 of the same year. After recording the budget, the accounting records showed a credit balance of $70,000 in the Budgetary Fund Balance account. What does this indicate?

a.) Revenues are 70,000 greater than appropriations

b.) appropriations are 70,000 greater than revenues

c.) appropriations are 70,000 greater than estimated revenues

d.) estimated revenues are 70,000 greater than appropriations

e.) estimated revenues are 70,000 greater than expenditures

f.) revenues are 70,000 greater than expenditures