What is the budgetary comparison schedule used for?

The budgetary comparison schedule serves as Required Supplementary Information (RSI) that provides essential insights into the financial performance of General and Major Special Revenue Funds. This schedule allows users to compare the final budgeted amounts with the actual revenues and expenditures for the reporting period, which is vital for understanding how well the entity adhered to its budgetary guidelines.

By presenting this information, the budgetary comparison schedule enhances transparency and accountability in governmental financial reporting, allowing stakeholders to assess the government's fiscal discipline and performance against the planned budget. This is particularly important for General and Major Special Revenue Funds, which often have specific budgetary requirements and are subject to closer scrutiny.

While financial planning, annual reporting, and investment documentation are important aspects of governmental finance, the specific function of the budgetary comparison schedule is to fulfill the role of RSI, thereby focusing on the budget compliance aspect.