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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

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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: In Aprii, heavy spring rains caused some flooding near the river. As a result, a pichic 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.)

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