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The Wake Village City Council approved the city’s annual budget audit for 2007 last week.

The audit booklet produced by the Texarkana, Texas, accounting firm of Wilf & Henderson shows that the city took in $1,188,705 in revenue income last year, including $729,421 in real property taxes, $170,918 in franchise fees and $153,956 in sales taxes. Those are the city’s three main revenue sources.

The audit also shows that the city spent about $1.5 million collectively in operating expenses and capital outlay in 2007.

Records show the city met its expenditures bec...