Hampshire

FISCAL YEAR JULY 1, 2015 – JUNE 30, 2016

LEVY ESTIMATE – BUDGET DOCUMENT

STATE OF WEST VIRGINIA
MUNICIPALITY OF ROMNEY, 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    –
Committed Fund Balance    –
Assigned Fund Balance    20,000
Unassigned Fund Balance    0
Property Taxes – Current Expense     220,692
Prior Year Taxes    9,000
Supplemental Taxes    5,000
Tax Loss Restoration    1,000
Tax Penalties, Interest & Publication Fees    2,500
Gas & Oil Severance Tax    1,700
Excise Tax on Utilities    83,000
Wine and Liquor Tax    30,000
Animal Control Tax    550
Fines, Fees and Court Costs    30,000
Parking Violations    3,000
Licenses    21,000
Building Permit Fees    5,000
Franchise Fees    20,100
IRP Fees (Interstate Registration Plan)     3,000
Private Liquor Club Fee    6,000
Parks & Recreation    23,743
Parking Meter Revenues    17,000
Rents, Royalties, and Concessions    11,458
Police Protection Fees    40,000
Street Fees    73,400
Federal Payment in Lieu of Taxes    5,000
Gaming Income    17,500
Interest Earned on Investments    100
Reimbursements (Explain type of funds & amounts being transferred    2,400
Video Lottery (LVL)    3,500
Miscellaneous Revenues    1,000
————–

TOTAL ESTIMATED REVENUE (GENERAL FUND)    $    661,643
————–
————–

COAL SEVERANCE TAX FUND

REVENUE SOURCE
Assigned Fund Balance    $              6
Coal Severance Tax    7,300
————-

TOTAL ESTIMATED REVENUE (COAL
SEVERANCE FUND)    $       7,306
————-
————-

ESTIMATED CURRENT EXPENDITURES

General     Coal Severance
Fund    Fund
Mayor’s Office    7,270    –
City Council    10,658    –
Recorder’s Office    2,377    –
City Manager’s Office    19,494    –
Police Judge’s Office    4,522    –
City Attorney    9,408    –
Custodial    3,966    –
Regional Development Authority    1,109    –
City Hall    51,810    1,242
Public Grounds    2,000    –
Parking    16,688    1,082
Police Department    273,119    2,491
Streets & Highways    235,479    2,491
Parks & Recreation    23,743    –
—————    ————

TOTAL ESTIMATED
EXPENDITURES    $ 661,643    $ 7,306
—————    —————

MUNICIPALITY OF ROMNEY, WEST VIRGIINA
Regular Current Expense Levy
FISCAL YEAR JULY 1, 2015 – JUNE 30, 2016

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    $  21,929,060    25.00               $     54,823
Personal Property              16,080        40
—————        —————

TOTAL CLASS II    $  21,945,140        $      54,863
——————        —————

Class IV
Real Estate    $  21,412,340    50.00    $     107,062
Personal Property        8,119,658        40,598
Public Utility    7,872,651        39,363
—————        ——————

TOTAL CLASS IV      $  37,404,649        $     187,023
—————–        ——————
—————–        ——————

TOTAL VALUE &
PROJECTED REVENUE    $ 59,349,789        $    241,886
—————–        —————–
—————–        —————–

Less Delinquencies, Exonerations &
Uncollectable Taxes        5.00{4ceb532c6f579389df471c6c1e832caf2346b74dc60fcbf6aabd4d29df3baf9c}         12,094
Less Tax Discounts (use Total Projected Revenue
to calculate)        2.00{4ceb532c6f579389df471c6c1e832caf2346b74dc60fcbf6aabd4d29df3baf9c}           4,596
Less Allowance for Tax Increment Financing (if Applicable)        0
————-

TOTAL PROJECTED PROPERTY
TAX COLLECTION            $  225,196
————-

Less Assessor Valuation Fund        2.00{4ceb532c6f579389df471c6c1e832caf2346b74dc60fcbf6aabd4d29df3baf9c}    4,504
————-
(Subtracted from regular current expense
taxes levied only)

Net Amount to be Raised by Levy of Property Taxes        $ 220,692
————-
————-

STATE OF WEST VIRGINIA
COUNTY OF HAMPSHIRE
MUNICIPALITY OF ROMNEY, WV

I, BEVERLY C. KEADLE, 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 12th day of March, 2015.

Beverly C. Keadle
Recorder

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