Budget Document

FISCAL YEAR JULY 1, 2015 – JUNE 30, 2016
LEVY ESTIMATE – BUDGET DOCUMENT
STATE OF WEST VIRGINIA
MUNICIPALITY OF TOWN OF FARMINGTON, 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
Property Taxes – Current Expense $ 30,784
Prior Year Taxes 28,154
Gas & Oil Severance Tax 400
Excise Tax on Utilities 1,440
Business and Occupation Tax 60,000
Animal Control Tax 70
Fines, Fees & Court Costs 20,000
License 700
Building Permit Fees 46
IRP Fees (INterstate Registration Plan) 2,000
Cemetery Revenues 350
Parks & Recreation 2,500
Rents, Royalties, and Concessions 1,279
Police Protection Fees 11,000
Other Grants 1,200
Contributions from Other Entities 1,500
Gaming Income 5,000
Filing Fees 160
Accident Reports 75
Video Lottery (LVL) 4,000
TOTAL ESTIMATED REVENUE (GENERAL FUND) $ 170,658
COAL SEVERANCE TAX FUND
REVENUE SOURCE
Coal Severance Tax 2,000
TOTAL ESTIMATED REVENUE (COAL SEVERANCE FUND) $2,000
General Severance
Fund Fund
ESTIMATED CURRENT EXPENDITURES
Insurance Program (Self Insured) $ 35,000 –
Mayor’s Office 900 –
City Council 180 –
Recorder’s Office 3,000 –
City Clerk’s Office 22,521 –
Police Judge’s Office 225 –
City Attorney 1,800 –
City Auditor 3,800 –
Printing 1,500 –
Regional Development Authority 125 –
Elections 200 –
Police Department 37,000 –
Fire Department 2,000 –
Flood Control/Soil Conservation 1,800 –
Streets and Highways 43,000 2,000
Street Lights 9,600 –
Street Cleaning 500 –
Garbage Department 782 –
Parks & Recreation 2,125 –
Community Center 2,900 –
Youth Program 500 –
Playgrounds 1,200 –
TOTAL ESTIMATED EXPENDITURES $170,658 $ 2,000
MUNICIPALITY OF TOWN OF FARMINGTON, WEST VIRGINIA
Regular Current Expense Levy
FISCAL YEAR JULY 1, 2015 – JUNE 30, 2016
Certificate of Valuation
Assessed Value for Levy Taxes
Tax Purposes Rate/$100 Levied
Class I
Personal Property 0 6.59 0
Public Utility 0 0
Total Class I 0 0
Class II
Real Estate $ 4,897,770 13.18 $ 6,455
Personal Property 0 0
Total Class II $ 4,897,770 $ 6,455
Class IV
Real Estate $ 5,941,340 26.36 $15,661
Personal Property 2,828,654 7,456
Public Utility 1,548,656 4,082
Total Class IV $ 10,318,650 $ 27,199
Total Value & Projected Revenue $ 15,216,420 $ 33,654
Less Delinquencies, Exonerations
& Uncollectable taxes 5.00{4ceb532c6f579389df471c6c1e832caf2346b74dc60fcbf6aabd4d29df3baf9c} 1,683
Less Tax Discounts 2.00{4ceb532c6f579389df471c6c1e832caf2346b74dc60fcbf6aabd4d29df3baf9c} 639
Less Allowance for Tax increment Financing ( if Applicable) 0
Total Projected Property Tax Collection 31,332
Less Assessor Valuation Fund 1.75{4ceb532c6f579389df471c6c1e832caf2346b74dc60fcbf6aabd4d29df3baf9c} 548
Net Amount to be Raised by Levy of Property Taxes $ 30,784
MUNICIPALITY OF TOWN OF FARMINGTON, WEST VIRGINIA
Excess Levy / Levies
FISCAL YEAR JULY 1, 2015 – JUNE 30, 2016
Certificate of Valuation
Assessed Value for Levy Taxes
Tax Purposes Rate/$100 Levied
Class I
Personal Property 0 0.00 0
Public Utility 0 0
Total Class I 0 0
Class II
Real Estate $ 4,897,770 0.00 0
Personal Property 0 0
Total Class II $ 4,897,770 0
Class IV
Real Estate $ 5,941,340 0.00 0
Personal Property 2,828,654 0
Public Utility 1,548,656 0
Total Class IV $ 10,318,650 0
Total Value & Projected Revenue $ 15,216,420 0
Less Delinquencies, Exonerations
& Uncollectable taxes 5.00{4ceb532c6f579389df471c6c1e832caf2346b74dc60fcbf6aabd4d29df3baf9c} 0
Less Tax Discounts 2.00{4ceb532c6f579389df471c6c1e832caf2346b74dc60fcbf6aabd4d29df3baf9c} 0
Net Amount to be Raised by Levy of Property Taxes 0
MUNICIPALITY OF TOWN OF FARMINGTON, WEST VIRGINIA
Excess or Bond Levy
FISCAL YEAR JULY 1, 2015 – JUNE 30, 2016
Certificate of Valuation
Assessed Value for Levy Taxes
Tax Purposes Rate/$100 Levied
Class I
Personal Property 0 0.00 0
Public Utility 0 0
Total Class I 0 0
Class II
Real Estate $ 4,897,770 0.00 0
Personal Property 0 0
Total Class II $ 4,897,770 0
Class IV
Real Estate $ 5,941,340 0 0
Personal Property 2,828,654 0
Public Utility 1,548,656 0
Total Class IV $ 10,318,650 0
Total Value & Projected Revenue $ 15,216,420 0
Less Delinquencies, Exonerations
& Uncollectable taxes 5.00{4ceb532c6f579389df471c6c1e832caf2346b74dc60fcbf6aabd4d29df3baf9c} 0
Less Tax Discounts 2.00{4ceb532c6f579389df471c6c1e832caf2346b74dc60fcbf6aabd4d29df3baf9c} 0
Net Amount to be Raised by Levy of Property Taxes 0
STATE OF WEST VIRGINIA
COUNTY OF MARION
MUNICIPALITY OF FARMINGTON
I, Andreanne Long, Recording Officer of said municipality, do hereby certify that the foregoing are true copies from the record of the orders made and entered by the council of the said municipality on the 27th day March, 2015.
Andreanne Long
Clerk/Recorder
Times: April 11, 18, 2015