The city of Watertown is beginning its 1st.yr. of operations.The city's 1st fiscal budget has been approved and following data pertaining to general fund are available: 1. estimated revenues for yr.are $600,000 appropriations are $590,000. 2. property taxes $400,000 are levied.Its estimated 3%($12,000) will not be collected. 3. other revenues amount to $400. 4. An order was placed for supp. for police dep. amount of $3,000. When supp. received invoice amounted $3,050 which included freight charges. 5. Payroll costs of $40,000 were vouchered. 6. cash collections amounted $350,000 for property taxes levied and $5,000 of previously accrued revenues for a total of $355,000. 7. Uncollectible property taxes are now delinquent. 8. Self-assessed taxes ,licenses fees,and fines collected amounting to$ 205,000. 9. The bill for supp. ordered in (4) above was paid. 10. Miscellaneous supp.were ordered from various vendors. The total amount of orders amounts to $30,000. 11. Invoices were received for items ordered in (10) above amounting to $20,000.There were no diff.between respective purchase orders and invoices. 12. Taxes were collected in advance in amount of $800. 13. Delinquent taxes of $8,000 uncollectible and are to be written off. 14. Delinquent taxes of $12,000 and $800 of interest and penalties were collected .The interests has not yet been accrued. 15. Interests and penalties on delinquent taxes amount to $4,000. This is in addition to amount in (14)above. Uncollectible interest is estimated at $300. 16. Other expenditures during yr. amount to $420,000. For purposes of this discussion these expenditures are paid withovouchering them. 17. The internal service fund furnished the fire dept. with $2,000 of operating supp. 18. Interest and principal paid to debt service fund amount to $99,000. 19. The entry to close budget is made. 20. All other closing entries are maid. 21. The "non-lapsing" encumbrances are reserved. 22. An appropriate amount of fund bal. is reserved for non-lapsing encumbrances.