By Josh Bergeron

The Selma Times-Journal

The Selma City Council unanimously passed its fiscal year 2014 budget Tuesday, which projects $16.45 million in revenue and $16.43 million in expenses.

The budget leaves the city with approximately $15,000 in extra revenue.

Selma City Council President Corey Bowie praised the council’s efforts in passing a balanced budget after the meeting.

“It was our goal to keep the budget similar to last year, but also increase the revenue stream,” Bowie said. “That’s always a goal to pass a balanced budget and stay ahead of the financials.”

Other council members also expressed elation the city was able to stay in the black.

“I can’t believe we are about to pass a balanced budget,” Ward 4 Councilwoman Angela Benjamin said.

Sales tax is projected to generate $10 million in revenue for the city, while the police department is expected to carry the most expenses of any department at $4.2 million.

The fiscal year 2014 budget projects less expenses than last year and an equal amount of revenue. The 2013 fiscal year budget projected $16.9 in expenses.

As of June 30, the city spent approximately $11.5 million in fiscal year 2013.

Bowie said the budget is only a projection and he hopes the council’s recent decision to switch to the Alabama Department of Revenue for tax collection will help the city generate additional revenue.

One possible source of additional revenue could come from the collection of approximately $500,000 in uncollected sales tax, Bowie said.