Finances questions

[McGuiser]

I have begun the 1923 season intending to continue for many seasons. I'm in mid-April, and need some help understanding finances before I begin trading and offering extensions.

My players collectively want extensions that would create a payroll next year of $109,000.

My finances screen says of this year:
Budget $130,000
Payroll $101,701
$ for extensions: $64,699
$ for free agents: $30,046

So, the money for extensions falls well short of the total extensions requested.

My questions:
(1) Can I agree to all extension requests so long as next year's total payroll does not exceed "$ for extensions" plus this year's payroll?

(2) Or can I only grant extensions that do not exceed this year's "$ for extensions."

(3) What happens to "$ for free agents" if they are not spent? Will that be available as payroll money next year, or does the owner use it for another vacation home.

(4) The difference in my case between "Budget" and "Payroll" is $28,299. Will that unused money also be available next year for payroll? Or is it in effect part of the money available for extensions and free agents?

Many thanks. This is a great game that I would like to understand better.

[McGuiser]

Can we reasonably assume that next year's payroll will be the sum total of at least this year's payroll plus $ For Extensions?

Logic tells me that when we grant a player an extension, that amount (minus his current salary) is his portion of next year's payroll.