Which forecast do expect to be the most reliable

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Reference no: EM132720256

Problem 1: According to the city's budget office, expected expenditure for 2021 is $16,430,619,064. A large portion of this amount, $11,263,645,982 to be exact, will be covered by revenue from non-tax sources such as grants from higher levels of government, interest income, and fees. The remainder, $5,166,973,081, will need to be covered by property and sales taxes. This information is summarized in the table below. According to the forecasts that you reported in step (6), will property and sales tax revenue cover the remainder in 2021? If there are vast differences in the forecasted amounts, which forecast do you expect to be the most reliable?

Expected Expenditure and Non-Tax Revenue, 2021

Total Expenditure            $16,430,619,064
Total Non-Tax Revenue        $11,263,645,982
Remainder                        $5,166,973,081

Reference no: EM132720256

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