FISCAL YEAR JULY 1, 2020 – JUNE 30, 2021 LEVY ESTIMATE BUDGET DOCUMENT STATE OF WEST VIRGINIA MUNICIPALITY OF BARRACKVILLE, WEST VIRGINIA

FISCAL YEAR JULY 1, 2020 – JUNE 30, 2021
LEVY ESTIMATE BUDGET DOCUMENT
STATE OF WEST VIRGINIA
MUNICIPALITY OF BARRACKVILLE, WEST VIRGINIA
In accordance with Code § 11-8-14, as amended, the Council proceeded to make an estimate of the amounts necessary to be raised by levy of taxes for the current fiscal year, and does determine and estimate the several amounts to be as follows:
The amount due and the amount that will become due and collectible from every source during the fiscal year INCLUDING THE LEVY OF TAXES, is as follows:
REVENUE SOURCE
Unassigned Fund Balance 65,000
Property Taxes-Current Expense 99,938
Gas & Oil Severance Tax 3,000
Excise Tax on Utilities 35,000
Business and Occupation Tax 55,000
Fines, Fees and Court Costs 9,000
Franchise Fees 8,500
IRP Fees (Interstate Registration Plan) 12,743
Police Protection Fees 12,600
Payroll Reimbursements 24,000
Gaming Income 12,000
Interest Earned on Investments 100
Reimbursements 1,375
Refunds 250
Video Lottery (LVL) 7,500
Miscellaneous Revenue 5,375
TOTAL ESTIMATED REVENUE (GENERAL FUND) $ 351,381
COAL SEVERANCE TAX FUND
REVENUE SOURCE
Assigned Fund Balance $ 15,200
Coal Severance Tax 4,115
Interest Earned on Investment 14
Reimbursements –
Refunds –
TOTAL ESTIMATED REVENUE $ 19,329
(COAL SEVERANCE FUND)
Coal
General Severance
FUND FUND
ESTIMATED CURRENT EXPENDITURES
Insurance Program (Self Insured) 20,000
Mayor’s Office 2,000
City Council 4,000
Recorder’s Office 1,000
Treasurer’s Office 600
Finance Office 1,500
City Clerk’s Office 32,000
Police Judge’s Office 300
City Attorney 2,000
City Auditor 3,600
Regional Development Authority 391
City Hall 60,500
Contributions/Transfers to Other Funds 20,000 19,329
Public Works Department 5,000
Contingencies 25,000
Police Department 72,000
Fire Department 40,000
Fire Hydrants 1,250
Streets and Highways 40,000
Street Lights 20,000
Parks & Recreation 240
TOTAL ESTIMATED EXPENDITURES $ 351,381 $ 19,329
MUNICIPALITY OF BARRACKVILLE, WEST VIRGINIA
Regular Current Expense Levy
FISCAL YEAR JULY 1, 2020 – JUNE 30, 2021
Certificate of
Valuation Levy Taxes
Assessed Value Rate/$100 Levied
for Tax Purposes
CLASS I
Personal Property $ 0 11.18 $ 0
Public Utility 0 0
Total Class I $ 0 $ 0
CLASS II
Real Estate $ 28,256,140 22.36 $ 63,181
Personal Property $ 5,790 13
Total Class II $ 28,261,930 $ 63,194
CLASS IV
Real Estate $ 4,282,330 44.72 $ 19,151
Personal Property 4,437,695 19,845
Public Utility 1,642,669 7,346
Total Class IV $10,362,694 $ 46,342
Total Value & Projected Revenue $38,624,624 $ 109,536
Less Delinquencies , Exoneration &
Uncollectable Taxes: 5.00%.. 5,477
Less Tax Discounts 2.00%… 2,081
Less Allowance for Tax Increment Financing – 0
Total Projected Property Tax Collection $ 101,978
Less Assessor Valuation Fund 2.00% 2,040
(Subtracted from regular current expenses taxes levied only)
Net amount to be Raised by Levy of Property Taxes $ 99,938
STATE OF WEST VIRGINIA
COUNTY OF MARION
MUNICIPALITY OF BARRACKVILLE
I, Steven Hall, Recording Officer of said municipality, do hereby certify that the foregoing are true copies from the record of orders made and entered by said council of the said municipality on the 17th day of March 2020.
Steven R. Hall
Recording Officer
Times: March 25, April 1, 2018