FISCAL YEAR JULY 1, 2023 – JUNE 30, 2024
LEVY ESTIMATE – BUDGET DOCUMENT
STATE OF WEST VIRGINIA
MUNICIPALITY OF NEW CUMBERLAND, WEST VIRGINIA
In accordance with Code Section 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 118,768
Unassigned Fund Balance 200,000
Property Taxes-Current Expense 99,311
Gas & Oil Severance Tax 4,000
Excise Tax on Utilities 45,200
Business and Occupation Tax 95,000
Wine & Liquor Tax 9,000
Sales Tax 145,000
Fines, Fees & Court Costs 4,000
Licenses 4 4,000
Building Permit Fees 1,000
Franchise Fees 27,000
IRP Fees (Interstate Registration Plan) 20,000
Private Liquor Club Fee 18,000
Rents, Royalties and Concessions 47,0000
Gaming Income 14,500
Refunds 1,000
Accident Reports 100
Video Lottery 14,000
Miscellaneous Revenues 5,000
TOTAL ESTIMATED REVENUE (GENERAL FUND) $871,879
COAL SEVERANCE TAX FUND
REVENUE SOURCE
Assigned Fund Balance $2,933
Coal Severance Tax 3,000
TOTAL ESTIMATED REVENUE
(COAL SEVERANCE FUND) $5,933
General Fund Coal
Severance
Fund
ESTIMATED CURRENT EXPENDITURES
Mayor’s Office 2,584 –
City Council 7,804 –
City Clerk’s Office 52,116 –
Police Judge’s Office 3754 –
Regional Development Authority 275 –
City Hall 230,435 –
Other Buildings 33,300 –
Contributions/Transfers to Other Funds 50,000 –
Police Department 130,036 –
Streets and Highways 153,107 5,933
Street Lights 22,500 –
Snow Removal 6,000 –
Central Garage 1,500 –
Storm Sewer 50,000 –
Parks & Recreation 6,700 –
Beautification Programs 3,000 –
Capital Projects-General Government 118,768 –
TOTAL ESTIMATED EXPENDITURES $871,879 5.933
MUNICIPALITY OF NEW CUMBERLAND, WEST VIRGINIA
Regular Current Expense Levy
FISCAL YEAR JULY 1, 2023 – JUNE 30, 2024
Certification of Valuation Levy Taxes
Assessed Value for Rate/$100 Levied
Tax Purposes
CLASS I
Personal Property 0 12.50 0
Public Utility 0 0
Total Class I 0 0
CLASS II
Real Estate $9,019,810 25.00 $22,550
Personal Property 13,980 35
Total Class II $9,033,790 $22,585
CLASS IV
Real Estate $7,823,560 50.00 $39,118
Personal Property 5,741,674 28,708
Public Utility 3,636,395 18,182
Total Class IV $17,201,629 $86,008
Total Value & Projected
Revenue $26,235,419 $108.593
Less Delinquiencies, Exonerations
& Uncollectable Taxes 5.50% 5,973
Less Tax Discounts (use Total Projected
Revenue to calculate) 2.00% 2,052
Less Allowance for Tax Increment
Financing (if Applicable) 0
Total Projected Property
Tax Collection $100,568
Less Assessor Valuation Fund 1.25% 1,257
(Subtracted from regular current expense taxes levied only)
Net Amount to be Raised by Levy
of Property Taxes $99,311
MUNICIPALITY OF NEW CUMBERLAND, WEST VIRGINIA
Park Board
FISCAL YEAR JULY 1, 2023 – JUNE 30, 2024
Certification of Valuation Levy Taxes
Assessed Value for Rate/$100 Levied
Tax Purposes
CLASS I
Personal Property $0 6.25 $0
Public Utility 0 0
Total Class I $0 $0
CLASS II Real Estate $9,019,810 12.50 $11,275
Personal Property 13,980 17
Total Class II $9,033,790 $11,292
CLASS IV
Real Estate $7,823,560 25.00 $19,559
Personal Property 5,741,674 14,354
Public Utility 3,636,395 9,091
Total Class IV $17,201,629 $43,004
Total Value & Projected Revenue $26,235,419 $54,296
Less Delinquencies, Exonerations &
Uncollectable Taxes 5.50% 2,986
Less Tax Discounts
(use Total Revenue to calculate) 2.00% 1,026
Net Amount to be Raised by Levy for Budget Purposes $50,284
STATE OF WEST VIRGINIA,
COUNTY OF Hancock,
MUNICIPALITY OF NEW CUMBERLAND.
I, Tamera M. Jenkins, 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 21st day of March, 2023
Tamera M. Jenkins
City Clerk
WDT March 30, April 6, 2023