Legal
0413
FISCAL YEAR JULY 1, 2106 – JUNE 30, 2017
LEVY ESTIMATE – BUDGET DOCUMENT
STATE OF WEST VIRGINIA
MUNICIPALITY OF CLAY, 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
Nonspendable Fund Balance $ –
Restricted Fund Balance 5,500
Unassigned Fund Balance 6,471
Property Taxes – Current Expense 60,755
Prior Year Taxes 1,500
Supplemental Taxes 500
Tax Loss Restoration 50
Tax Penalties, Interest & Publication Fees 100
Gas & Oil Severance Tax 1,100
Excise Tax on Utilities 24,000
Wine & Liquor Tax 10,000
Licenses 2,500
Building Permit Fees 100
IRP Fees (Interstate Registration Plan) 18,699
Parking Meter Revenues 535
Gaming Income 15,000
Interest Earned on Investments 25
Video Lottery (LVL) 500
Miscellaneous Revenues 100
TOTAL ESTIMATED REVENUE (GENERAL FUND) $ 147,435
COAL SEVERANCE TAX FUND
REVENUE SOURCE
Assigned Fund Balance $ 100
Coal Severance Tax 1,200
Interest Earned on Investment –
Reimbursements –
Refunds –
TOTAL ESTIMATED REVENUE $ 1,300
(COAL SEVERANCE FUND)
Coal
General Severance
ESTIMATED CURRENT EXPENDITURES Fund Fund
Economic Development $ – $ –
Mayor’s Office 7,500 –
City Council 7,500 –
Recorder’s Office 6,300 –
City Clerk’s Office 38,000 –
Regional Development Authority 135 –
City Hall 25,000 –
Public Works Department 35,000 –
Street Lights 22,500 –
Sidewalks 5,500 –
Library – 1,300
TOTAL ESTIMATED EXPENDITURES $ 147,435 $ 1,300
MUNICIPALITY OF CLAY, WEST VIRGINIA
Regular Current Expense Levy
FISCAL YEAR JULY 1, 2016 – JUNE 30, 2017
Certificate of Valuation
Assessed Value Levy Taxes
for Tax Purposes Rate/$100 Levied
CLASS I
Personal Property $ 0 12.50 $ 0
Public Utility 0 0
Total Class I $ 0 $ 0
CLASS II
Real Estate $ 2,114,100 25.00 $ 5,285
Personal Property 36,984 92
Total Class II $ 2,151,084 $ 5,377
CLASS IV
Real Estate $ 6,147,410 50.00 $ 30,737
Personal Property 3,048,256 15,241
Public Utility 3,047,082 15,235
Total Class IV $ 12,242,748 $ 61,213
Total Value & Projected
Revenue $ 14,393,832 $ 66,590
Less Delinquencies, Exonerations & Uncollectable Taxes 5.00{4ceb532c6f579389df471c6c1e832caf2346b74dc60fcbf6aabd4d29df3baf9c} 3,330
Less Tax Discounts (use Total Projected Revenue to calculate) 2.00{4ceb532c6f579389df471c6c1e832caf2346b74dc60fcbf6aabd4d29df3baf9c} 1,265
Less Allowance for Tax Increment Financing (if Applicable) 0
Total Projected Property Tax Collection $ 61,995
Less Assessor Valuation Fund 2.00{4ceb532c6f579389df471c6c1e832caf2346b74dc60fcbf6aabd4d29df3baf9c} 1,240
(Subtracted from regular current expense taxes levied only)
Net Amount to be Raised by Levy of Property Taxes $ 60,755
STATE OF WEST VIRGINIA
COUNTY OF CLAY
MUNICIPALITY OF CLAY
I, Bevely Whaling, 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 5th day of March, 2016.