Levy Estimate

FISCAL YEAR JULY 1, 2015 – JUNE 30, 2016
LEVY ESTIMATE BUDGET DOCUMENT
STATE OF WEST VIRGINIA
MUNICIPALITY OF BARRACKVILLE, 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 everysource during the fiscal year INCLUDING THE LEVY OF TAXES, is as follows:
REVENUE SOURCE
Unassigned Fund Balance 75,506
Property Taxes-Current Expense 75,794
Gas & Oil Severance Tax 2,500
Excise Tax on Utilities 38,000
Business and Occupation Tax 50,000
Fines, Fees and Court Costs 18,000
Franchise Fees 9,500
IRP Fees (Interstate Registration Plan) 6,000
Parks & Recreation 100
Police Protection Fees 12,000
Gaming Income 15,000
Interest Earned on Investments 100
Video Lottery (LVL) 6,500
Miscellaneous Revenue 2,000
TOTAL ESTIMATED REVENUE (GENERAL FUND) $ 311,000
COAL SEVERANCE TAX FUND
REVENUE SOURCE
Assigned Fund Balance $ 21.790
Coal Severance Tax 4.800
TOTAL ESTIMATED REVENUE
(COAL SEVERANCE FUND) $ 26,590
Coal
General Severance
FUND FUND
ESTIMATED CURRENT EXPENDITURES
Insurance Program (Self Insured)13,200
Mayors Office 2,000
City Council 4,000
Recorder’s Office 1,000
Treasurer’s Office 600
Fiannce Office 1,400
City Clerk’s Office 12,000
Police Judge’s Office 50
City Attorney 5,000
City Auditor 5,000
Regional Development Authority 300
City Hall 43,000
Contributions/Transfers to Other Funds 33,200 26,590
Public Works Department 10,000
Contingencies 25,000
Police Department 52,000
Fire Department 55,000
Fire Hydrants 1,250
Streets and Highways 30,000
Street Lights 16,000
Parks & Recretaion 1,000
TOTAL ESTIMATED EXPENDITURES $ 311,000 $ 26,590
MUNICIPALITY OF BARRACKVILLE, WEST VIRGINIA
Regular Current Expense Levy
FISCAL YEAR JULY 1, 2015 – JUNE 30, 2016
Certificate of
Valuation Levy Taxes
Assessed Value Rate/$100 Levied
for Tax Purposes
CLASS I
Personal Property $ 0 9.65 $ 0
Public Utility 0 0
Total Class I $ 0 $ 0
CLASS II
Real Estate $ 23,990,861 19.30 $ 46,302
Personal Property 0 0
Total Class II $23,990,861 $ 46,302
CLASS IV
Real Estate $ 4,303,290 38.60 $ 16,611
Personal Property 3,870,371 14,940
Public Utility 1,297,425 5,008
Total Class IV $9,471,086 $ 36,559
Total Value & Projected Revenue $33,461,947 $ 82,861
Less Delinquencies , Exoneration &
Uncollectable Taxes: 5.00{4ceb532c6f579389df471c6c1e832caf2346b74dc60fcbf6aabd4d29df3baf9c}…. 4,143
Less Tax Discounts 2.00{4ceb532c6f579389df471c6c1e832caf2346b74dc60fcbf6aabd4d29df3baf9c}… 1,574
Less Allowance for Tax Increment Financing – 0
Total Projected Property Tax Collection $ 77,144
Less Assessor Valuation Fund 1.75{4ceb532c6f579389df471c6c1e832caf2346b74dc60fcbf6aabd4d29df3baf9c} 1,350
Net amount to be Raised by Levy of Property Taxes $75,794
MUNICIPALITY OF BARRACKVILLE, WEST VIRGINIA
Excess Levy/ Levies
FISCAL YEAR JULY 1, 2015 – JUNE 30, 2016
Certicate of Valuation
Assessed Value Levy Taxes
for 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 $ 23,990,861 0.00 $ 0
Personal Property 0 0
Total Class II $ 23,990,861 $ 0
CLASS IV
Real Estate $ 4,303,290 0.00 $ 0
Personal Property 3,870,371 0
Public Utility 1,297,425 0
Total Class IV $ 9,471,086 $0
Total Value & Projected Revenue $ 33,461,947 $0
Less Delinquencies , Exoneration &
Uncollectable Taxes: 5.00{4ceb532c6f579389df471c6c1e832caf2346b74dc60fcbf6aabd4d29df3baf9c}…. 0
Less Tax Discounts 2.00{4ceb532c6f579389df471c6c1e832caf2346b74dc60fcbf6aabd4d29df3baf9c}… 0
Net amount to be Raised by Levy for Budget Purposes $0
MUNICIPALITY OF BARRACKVILLE, WEST VIRGINIA
Excess or Bond Levy
FISCAL YEAR JULY 1, 2015 – JUNE 30, 2016
Certificate of Valuation Levy Taxes
Assessed Value Rate/$100 Levied
for Tax Purposes
CLASS I
Personal Property $ 0 0.00 $ 0
Public Utility 0 0
Total Class I $ 0 $ 0
CLASS II
Real Estate $ 23,990,861 0.00 $ 0
Personal Property 0 0
Total Class II $ 23,990,861 $ 0
CLASS IV
Real Estate $ 4,303,290 0.00 $ 0
Personal Property 3,870,371 0
Public Utility 1,297,425 0
Total Class IV $ 9,471,086 $0
Total Value & Projected Revenue $ 33,461,947 $0
Less Delinquencies , Exoneration &
Uncollectable Taxes: 5.00{4ceb532c6f579389df471c6c1e832caf2346b74dc60fcbf6aabd4d29df3baf9c}…. 0
Less Tax Discounts 2.00{4ceb532c6f579389df471c6c1e832caf2346b74dc60fcbf6aabd4d29df3baf9c}… 0
Net amount to be Raised by Levy for Budget Purposes $0
STATE OF WEST VIRGINIA
COUNTY OF MARION
MUNICIPALITY OF BARRACKVILLE
I, Steven Hall, Recording Officer of said Municipality, do hereby certify that the foregoing are true copies from the record of orders made and entered by said council of the said municipality on the 25th day of March 2015.
Steven Hall
Recorder
Times: April 7, 14, 2015