The actual revenues and expenditures in the budgetary comparison schedule or statement are prepared using the modified accrual basis of accounting.

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In budgetary comparisons, revenues and expenditures should be reported on the budgetary basis of accounting, which may or may not be the modified accrual basis of accounting. Using the budgetary basis allows for meaningful comparisons of actual revenues and expenditures to amounts shown in the original and final budgets.

The Actual Revenues and Expenditures in the Budgetary Comparison Schedule