Niles Charter Township on Monday approved its budget for 2014, including a three percent pay raise for employees.

Supervisor Jim Stover said the general fund budget has projected expenditures of $1.41 million and projected revenue of $1.49 million, resulting in a surplus of approximately $88,000.

Stover said it appears the township will have $3.2 million left in the general fund’s operating reserve.

Trustees also voted to keep the same annual salaries for elected officials, including supervisor at $22,000, clerk $20,000, treasurer $20,000 and trustees $5,000.

Trustees approved a $56,000 tax abatement for Innovation Machining Corporation, which employs five people. The company is purchasing CNC equipment that will help it compete with foreign markets.

For a more coverage of Monday’s regular meeting, look for Wednesday’s edition of the Niles Daily Star.