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FISCAL YEAR JULY 1, 2015 – JUNE 30, 2016 LEVY ESTIMATE – BUDGET DOCUMENT

FISCAL YEAR JULY 1, 2015 – JUNE 30, 2016

LEVY ESTIMATE – BUDGET DOCUMENT

 

STATE OF WEST VIRGINIA

MUNICIPALITY OF Williamstown, 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

 

Assigned Fund Balance                                                               $     257,449

Unassigned Fund Balance                                                                  100,000

Property Taxes – Current Expense                                                       367,988

Gas & Oil Severance Tax                                                                        2,400

Excise Tax On Utilities                                                                           95,000

Wine & Liquor Tax                                                                                 50,000

Animal Control Tax                                                                                  1,100

Hotel Occupancy Tax                                                                            28,000

Sales Tax                                                                                            280,000

Fines, Fees & Court Costs                                                                       5,500

Licenses                                                                                                 5,000

Building Permit Fees                                                                               7,000

Franchise Fees                                                                                     51,000

IRP Fees (Interstate Registration Plan)                                                    2,800

Private Liquor Club Fee                                                                              500

Rents, Royalties, and Concessions                                                         7,245

Police Protection Fees                                                                          67,333

Street Fees                                                                                           62,000

Ambulance Fees                                                                                   30,000

Contributions from Other Entities                                                             2,000

Gaming Income                                                                                     16,000

Interest Earned on Investments                                                                 525

Video Lottery (LVL)                                                                               19,000

Miscellaneous Revenues                                                                         3,000

TOTAL ESTIMATED REVENUE (GENERAL FUND)                        $1,460,840

 

COAL SEVERANCE TAX FUND

REVENUE SOURCE

 

Assigned Fund Balance                                                                      $20,000

Coal Severance Tax                                                                              11,200

Interest Earned on Investments                                                                   20

TOTAL ESTIMATED REVENUE (COAL SEVERANCE FUND)              $31,220

 

General                    Coal Severance

Fund                             Fund

ESTIMATED CURRENT EXPENDITURES

 

Mayorás Office                                                    12,365                                  —

City Council                                                         5,546                                  —

City Clerkás Office                                               27,902                                  —

Police Judgeás Office                                           3,720                                  —

City Attorney                                                      11,000                                  —

Regional Development Authority                          6,000                                  —

Building Inspection                                            11,212                                  —

City Hall                                                             71,755                                  —

Contingencies                                                 101,717                                  —

Police Department                                           473,444                         16,500

Police-Special Duty                                            16,942                                  —

Fire Department                                                 51,560                                  —

Dog Warden/Humane Society                              3,000                                  —

Ambulance Authority                                         60,000                                  —

Streets and Highways                                      253,800                                  —

Street Lights                                                      22,450                                  —

Signs and Signals                                               3,844                                  —

Local Health Department                                            —                           3,000

Parks & Recreation                                            94,134                                  —

Visitors Bureau                                                  14,000                                  —

Swimming Pools                                                15,000                                  —

Arts & Humanities                                                       —                           1,000

Library                                                                        —                              500

Beautification Programs                                              —                         10,220

Capital Projects – General Government           201,449                                 —

TOTAL ESTIMATED EXPENDITURES        $1,460,840                  $     31,220

 

MUNICIPALITY OF WILLIAMSTOWN, WEST VIRGINIA

Regular Current Expense Levy

FISCAL YEAR JULY 1, 2015 – JUNE 30, 2016

 

Certificate of Valuation

Assessed Values                 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                                  $82,921,650                25.00                $207,304

Personal Property                                  6,588                                                    16

Total Class II                                   $82,928,238                                          $207,320

 

CLASS IV

Real Estate                                 $16,900,400                50.00                $ 84,502

Personal Property                          19,405,004                                             97,025

Public Utility                                   4,630,741                                             23,154

Total Class IV                                  $40,936,145                                          $204,681

Total Value & Projected Revenue $123,864,383                                         $412,001

 

Less Delinquencies, Exonerations & UncollectableTaxes    7.00{4ceb532c6f579389df471c6c1e832caf2346b74dc60fcbf6aabd4d29df3baf9c}                   28,804

Less Tax Discounts (use Total Projected Revenue to calculate) 2.00{4ceb532c6f579389df471c6c1e832caf2346b74dc60fcbf6aabd4d29df3baf9c}              7,663

Less Allowance for Tax Increment Financing (if Applicable)                                        0

 

Total Projected Property Tax Collection                                                    $ 375,498

 

Less Assessor Valuation Fund                                            2.00{4ceb532c6f579389df471c6c1e832caf2346b74dc60fcbf6aabd4d29df3baf9c}                      7,510

(Subtracted from regular current expense taxes levied only)

 

Net Amount to be Raised by Levy of Property Taxes                                 $367,988

 

STATE OF WEST VIRGINIA

COUNTY OF WOOD

MUNICIPALITY OF WILLIAMSTOWN

 

I, Susan Knopp, 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 17th day of March, 2015.

 

/s/:Susan Knopp

City Clerk

 

 

Mar 27, Apr 3