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One way to analyze a budget is to estimate the amount of each category of cash

receipts and disbursements. The projected outflow of funds is subtracted from the

projected inflow. If the amount of outflow is greater than the amount of inflow, the

town must secure additional funds to pay for its expenditures or it must reduce

its spending. For instance, the town could raise taxes or borrow more money to meet its

costs, or it could reduce some of its expenses.

In developing the town$$s budget projections, create an Assumptions section of the worksheet to identify factors in your calculations of receipts and disbursements. Make sure formulas reference cells in the Assumptions section wherever possible. Calculate the receipts and disbursements for each of the categories on the worksheet for $2024$ and $2025.$ Calculate total receipts and total disbursements. The problem has been simplified so that all revenue is collected in the year it is due. Complete the worksheet by subtracting total receipts from total disbursements in $2024$ and $2025.$

Write a brief analysis of the projected $2024$ and $2025$ budgets for the town of ClearSkies. If these budgets don$$t balance, what steps would you recommend be taken by the town? Revise your worksheet to incorporate your recommendations and save it under another name. Keep revising the worksheet until you have developed a balanced budget. Is there some way for the town to come up with a balanced budget without raising taxes? Please provide an example of what the excel sheet would look like for this problem. $\backslash$table$[[$Chapter $2$ Question File,$],[,],[,],[$Town of ClearSkies Budget,$],[$Revenues$,2023],[,],[$Tax Levy,$4,701,200],[$State aid,$117,000],[$Miscellaneous receipts,$1,223,500],[,],[$Total Receipts,$6,041,700],[,],[,],[$Disbursements$,],[$Salaries$,],[$Police$,1,067,400],[$Town court,$283,300],[$Town manager,$135,200],[$Treasurer$,113,100],[$Engineer$,182,000],[$Secretarial$,178,700],[$Other Expenses,$],[$Legal$,152,100],[$Administration$,332,900],[$Buildings$,362,210],[$Employee benefits,$1,120,600],[$Public works,$951,600],[$Garbage$,374,100],[$Fire department,$324,220],[$Environmental control,$137,500],[$Library$,127,400],[$Debt service,$97,870],[$Total disbursements,$5,940,200],[,],[$Receipts less disbursements,$101,500]]$

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