Which of the following statements is true regarding the budget vs. actual comparison disclosure?

Select one:

1. Municipalities are encouraged but not required to present a comparison schedule of budget-to-actual amounts.
2. The budget-to-actual comparison schedule is included in the footnotes to the CAFR.
3. The budget-to-actual comparison schedule is included in the basic financial statements section of the CAFR.
4. The budget-to-actual comparison schedule is included in the required supplementary information section of the CAFR.