The City of Fairport Adopted the Following Budget for Fiscal

Essay

The City of Fairport adopted the following budget for fiscal year 2017:
$\begin{array}{lr}\text { Anticipated Revenues: }\\\text { Property Taxes } & \$ 4,040,000 \\\text { Licenses and Permits } & 510,000 \\\text { Fines and Forfeits } & \underline{402,000} \\\text { Total } & \$ 4,952,000\\\\\text { Approved spending levels: }\\\text { General Government } & \$ 1,650,000 \\\text { Public Safety } & 2,300,000 \\\text { Public Works } & \underline{1,085,000} \\\text { Total } & \$ 5,035,000\end{array}$
In addition, the City reported the following actual amounts for the same fiscal year.
$\begin{array}{lr}\text { Revenues: } & \\\text { Property Taxes } & \$ 4,065,000 \\\text { Licenses and Permits } & 496,000 \\\text { Fines and Forfeits } & \underline{\$ 411,000} \\~~\text { Total } & \$ 4,972,000\\\\\text { Encumbrances - Current Year } & \\\text { General Government } & \$ 1,501,000 \\\text { Public Safety } & 2,380,000 \\\text { Public Works } & \underline{\$ 995,000} \\~~\text { Total } & \$ 4,876,000\\\\\text { Encumbrances - Current Year } & \\~\text { Public Safety } & \$ 117,000 \\\\\text { Expenditures related to } 2016 & \$ 10,000\\\text{ ecumbrances}\end{array}$
Required: Prepare a budgetary comparison schedule for the City for the year ended December 31, 2017 assuming the fund balance of the General Fund budgetary basis) was $627,000 at January 1, 2017. No "original budget" column is required. Include a "variance" column.