Final answer:
A proper schedule of revenues, expenditures, and changes in fund balances includes columns for budgeted and actual revenues, estimated and actual expenditures, and projected/actual changes in fund balances. Planned fund balances are typically not included in these schedules. Comparisons between budgeted and actual figures are crucial for financial assessment and adjustments.
Step-by-step explanation:
A properly prepared schedule of revenues, expenditures, and changes in fund balances - budget and actual will include the following columns: a) budgeted revenues and actual revenues, b) estimated expenditures and actual expenditures, and d) projected changes in fund balances and actual changes in fund balances. Option c) planned fund balances and actual fund balances is not typically included in such schedules. It's important to note that the budget reflects the government's expected financial position and activities, and can differ from actual results due to policy decisions and unforeseen events.
The budgeting process at all levels of government - federal, state, and local - involves estimating how much revenue the government expects to receive and how it plans to spend it. This process can result in changes to the budget over time, particularly in response to unexpected events or policy decisions. This underscores the importance of comparing budgeted figures with actual figures to assess financial performance and make necessary adjustments.