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
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TOTAL ESTIMATED REVENUE (GENERAL FUND) $ 661,643
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COAL SEVERANCE TAX FUND
REVENUE SOURCE
Assigned Fund Balance $ 6
Coal Severance Tax 7,300
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TOTAL ESTIMATED REVENUE (COAL
SEVERANCE FUND) $ 7,306
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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 –
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TOTAL ESTIMATED
EXPENDITURES $ 661,643 $ 7,306
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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
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TOTAL CLASS I $ 0 $ 0
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Class II
Real Estate $ 21,929,060 25.00 $ 54,823
Personal Property 16,080 40
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TOTAL CLASS II $ 21,945,140 $ 54,863
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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
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TOTAL CLASS IV $ 37,404,649 $ 187,023
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TOTAL VALUE &
PROJECTED REVENUE $ 59,349,789 $ 241,886
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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
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TOTAL PROJECTED PROPERTY
TAX COLLECTION $ 225,196
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Less Assessor Valuation Fund 2.00{4ceb532c6f579389df471c6c1e832caf2346b74dc60fcbf6aabd4d29df3baf9c} 4,504
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(Subtracted from regular current expense
taxes levied only)
Net Amount to be Raised by Levy of Property Taxes $ 220,692
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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
3-18-2c