Audit Shines Some Light on Financial Picture in Selma
The Selma City Council gets a clearer picture of the financial shape that the city may be in.
Auditors presented their findings at the city council meeting Tuesday night.
Council President Corey Bowie says the audit confirmed some fears about shrinking revenue.
According to the audit, in 2017 the city took in $700,000 dollars less revenue — than it did the year before.
<“When you’re looking at a declining revenue stream you’re looking at several businesses, sales tax, several businesses going out of business and that will have an adverse effect on your sales tax,” said Bowie.
City officials say sales taxes revenue makes-up up to 58 percent of the city’s budget.