Falkville residents received some good news recently when Mayor Bob Ramey announced financial figures ending Sept. 30, 2015. The town had a balance of $157,909.83 after all of its bills were paid. | Randy Garrison

Clif Knight

Hartselle Enquirer

The Town of Falkville closed its books for the 2014-2015 fiscal year with a balance of $157,909.83, Mayor Bob Ramey reported at a town council work session November 24.

Revenues totaled  $2,157,758.54 while expenditures came in at $1,999,848.71.

The Special Gasoline Fund spent only $7,500 while taking in $269,643.74. The General Fund had a $195,952.65 balance while Water and Sewer showed a $71,269.84 balance. Public Works spent $49,377.77 less than the $202,364.54 it collected.

Police and Fire Departments had expenditures totaling $533,741.65 and $81,799.03, respectively while showing combined revenue of $227,097.26.

The fourth quarter (July-September) financial report showed revenues at $456,303.51 and expenditures at $454,127.87, leaving a balance of $2,175.64.

The governing body discussed contracting with Revenue Discovery Systems (RDS) of Birmingham to maintain a database and collect licenses from individuals, corporations and partnerships doing business within the town’s borders.

RDS accountant Ashley Hancock estimated Falkville is losing $34,699 per year from businesses that come into town to conduct business and leave without buying a business license.

“I can guarantee you there is money owed to you that we can recover,” he said. “It costs you nothing unless we find something, then it’s a 50-50 split.”

“When we assume responsibility for collecting business licenses, it frees up your staff to address other pressing needs.