By October 31, 1908, uncollected taxes due the city (including $9,324,000 personal taxes for years previous to 1898, which had been written off as uncollectable), amounted to $84,506,000. Despite the fact that this huge sum had not been collected, the city officials spent the greater part of it as though it had been collected; of the $84,506,000 uncollected, the sum of $76,266,000 had, by October 31, 1908, been expended by the city in appropriations included in budgets which, in reality, ought to have been defrayed by these uncollected taxes.[19] Basing their action on these uncollected taxes, the city officials had issued, from time to time, large amounts in revenue bonds with which to get money to pay the appropriations in the yearly budgets. On October 31, 1908, there was outstanding against these arrears of taxes $40,606,000 of revenue bonds. This left a balance of $35,660,000 which had been expended by the city for current expenses, but which had neither been collected nor procured by revenue bonds.[20] The Select Legislative Committee commented upon the fact that although the evidence proved conclusively that not more than 65 per cent. of personal taxes were collectable, yet the city budget had nearly equaled the entire levy in each year.[21] Furthermore, the sum of $24,521,000 in special franchise taxes had not been collected by December 31, 1907. The sources of a certain $33,000,000 which had been spent by the city puzzled the Select Legislative Committee. Just how this money was obtained the Committee was not able to ascertain. But, the Committee added, it was shown that the assessment account for local improvements was depleted to the amount of $1,900,000. There should have been a sum of $600,000 comprising trust funds, various bequests, intestate estates, etc., but it could not be found. Also, there should have been in the city treasury $3,800,000 more as a special account including deposits made with the city against contractors’ liability for restoring and repaving streets and the unliquidated balance of the Brooklyn fund. But this $3,800,000 “did not exist.” The accounts of the various boroughs revealed a shortage of $1,500,000; excise funds were short $5,100,000; the account of unexpended proceeds of the bond account disclosed a shortage of $7,200,000, and the account of that part of the unexpended bond accounts which had not been allotted was short $8,250,000.[22] making “The Controller’s office,” the Select Legislative Committee reported, “was unable within any reasonable time to determine from what funds the remaining $4,000,000 had been taken, up the total shortage of $33,000,000. But the net result is certain, that for the payment of running expenses over a long period of years, the City has taken the total amount of $29,000,000 from specific funds set apart for other purposes, shifting the resulting deficits from one fund to another as occasion required.”[23]