The Appropriation to the State Library System Fiscal Year Starts

Multiple Choice

The appropriation to the State Library System fiscal year starts July 1) for fiscal 2012 was $15,000,000. On December 31, 2011, its budget reports showed expenditures of $7,500,000 and encumbrances outstanding of $500,000. Quarterly allotments were as follows: Q1-$3,750,000; Q2-$4,500,000; Q3-$3,750,000; and Q4-$3,000,000. What was the status of system operations at that point?

A) Operation consistent with plan; half the year elapsed and half the money spent.
B) Over plan by $250,000.
C) Under plan by $250,000.
D) Under plan by $750,000.