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LEVY ESTIMATE BUDGET DOCUMENT

FISCAL YEAR JULY 1, 2019 – JUNE 30, 2020
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 every source during the fiscal year INCLUDING THE LEVY OF TAXES, is as follows:
REVENUE SOURCE
Unassigned Fund Balance 65,000
Property Taxes-Current Expense 94,350
Gas & Oil Severance Tax 3,000
Excise Tax on Utilities 36,000
Business and Occupation Tax 50,000
Fines, Fees and Court Costs 10,000
Franchise Fees 9,000
IRP Fees (Interstate Registration Plan) 12,000
Police Protection Fees 14,000
Payroll Reimbursements 30,000
Gaming Income 12,000
Interest Earned on Investments 100
Video Lottery (LVL) 7,000
Miscellaneous Revenue 9,000
TOTAL ESTIMATED REVENUE (GENERAL FUND) $ 351,450
COAL SEVERANCE TAX FUND
REVENUE SOURCE
Assigned Fund Balance $ 15,200
Coal Severance Tax 3,500
TOTAL ESTIMATED REVENUE
(COAL SEVERANCE FUND) $ 18,700
Coal
General Severance
FUND FUND
ESTIMATED CURRENT EXPENDITURES
Insurance Program (Self Insured) 24,000
Mayor’s Office 2,000
City Council 4,000
Recorder’s Office 1,000
Treasurer’s Office 600
Finance Office 2,000
City Clerk’s Office 38,000
Police Judge’s Office 200
City Attorney 2,500
City Auditor 3,600
Regional Development Authority 391
City Hall 60,409
Other buildings 18,700
Contributions/Transfers to Other Funds 20,000
Public Works Department 5,000
Contingencies 25,000
Police Department 60,000
Fire Department 40,000
Fire Hydrants 1,250
Streets and Highways 40,000
Street Lights 21,000
Parks & Recreation 500
TOTAL ESTIMATED EXPENDITURES $ 351,450 $ 18,700
MUNICIPALITY OF BARRACKVILLE, WEST VIRGINIA
Regular Current Expense Levy
FISCAL YEAR JULY 1, 2019 – JUNE 30, 2020
Certificate of
Valuation Levy Taxes
Assessed Value Rate/$100 Levied
for Tax Purposes
CLASS I
Personal Property $ 0 10.64 $ 0
Public Utility 0 0
Total Class I $ 0 $ 0
CLASS II
Real Estate $ 28,197,200 21.28 $ 60,004
Personal Property $ 5,466 12
Total Class II $ 28,202,666 $ 60,016
CLASS IV
Real Estate $ 4,433,690 42.56 $ 18,870
Personal Property 4,151,768 17,670
Public Utility 1,487,296 6,330
Total Class IV $10,072,754 $ 42,870
Total Value & Projected Revenue $38,275,420 $ 102,886
Less Delinquencies , Exoneration &
Uncollectable Taxes: 5.00{4ceb532c6f579389df471c6c1e832caf2346b74dc60fcbf6aabd4d29df3baf9c}.. 5,144
Less Tax Discounts 2.00{4ceb532c6f579389df471c6c1e832caf2346b74dc60fcbf6aabd4d29df3baf9c}… 1,955
Less Allowance for Tax Increment Financing – 0
Total Projected Property Tax Collection $ 90,409
Less Assessor Valuation Fund 1.50{4ceb532c6f579389df471c6c1e832caf2346b74dc60fcbf6aabd4d29df3baf9c} 1,437
(Subtracted from regular current expenses taxes levied only)
Net amount to be Raised by Levy of Property Taxes $94,350
STATE OF WEST VIRGINIA
COUNTY OF MARION
MUNICIPALITY OF BARRACKVILLE
I, Steven R. 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 7th day of March 2019.
Steven R. Hall
Recording Officer
Times: March 23, April 6, 2018