The following information is provided about the village of "S" General Fund Operating Statement and budgetary accounts for the fiscal year ended June 30, 2019: (OMR)

Estimated revenues1,575,000

Revenues 1,595,000

Appropriations 1,592,500

Expenditures 1,587,500

Fund balance (beginning of the year) 300,000

Budgetary fund balance (after FY 2019 Budget was recorded) (17,500)

Required:

a. Did the village "S" engage in imprudent budgeting practices by authorizing a greater amount of expenditures than revenues estimated for the year, or potentially violate village or state balance budget laws?(1 mark)

b. Calculate the end-of-year balances for the fund Balance and Budgetary Fund Balance accounts that would be reported on the village's balance sheet prepared as of June 30, 2019. Show all necessary work