FISCAL YEAR JULY 1, 2023 – JUNE 30, 2024
LEVY ESTIMATE – BUDGET DOCUMENT
STATE OF WEST VIRGINIA
MUNICIPALITY OF VALLEY GROVE, WEST VIRGINIA
In accordance with Code Section 11-8-14, as amended, the Council proceeded to make an estimate of the amount 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 150,066
Property Taxes – Current Expenses 29,099 Gas & Oil Severance Tax 2,000
Excise Tax on Utilities 25,000
Business and Occupation Tax 40,000
IRP Fees (Interstate Registration Plan) 12,000
Parks and Recreation 13,000
Rents, Royalties, and Concessions 28,000
Gaming Income 11,500
Interest Earned on Investments 200
Video Lottery (LVL) 6,000
TOTAL ESTIMATED REVENUE
(GENERAL FUND) $316,865
COAL SEVERANCE TAX FUND
REVENUE SOURCE
Assigned Fund Balance $300
Coal Severance Tax 900
Refunds –
TOTAL ESTIMATED REVENUE
(COAL SEVERANCE FUND) $1,200
General Coal Severance
ESTIMATED CURRENT Fund Fund EXPENDITURES
Economic Development $ – $ – Federal Grants – – State Grants – –
Mayor’s Office $10,800 –
City Council 6,000 –
Recorder’s Office 4,000 – Treasurer’s Office 4,000 –
Police Judge’s Office 500 –
City Attorney 1,000 –
Custodial 18,000 –
Regional Development Authority 250 – City Hall 105,000 1,200
Contingencies 29,815 –
Police Department 25,000 –
Street Lights 8,000 –
Parks & Recreation 3,000 – Playgrounds 1,500 Capital Projects -General Government 50,000 – Capital Projects -Public Safety 25,000 – Capital Projects – Street and Transportation – – Capital Projects – Culture and Recration 25,000 – Capital Projects – Social Services – –
TOTAL ESTIMATED EXPENDITURES $316,865 $1,200
MUNICIPALTY OF VALLEY GROVE, WEST VIRGINIA
REGULAR CURRENT EXPENSE LEVY
FISCAL YEAR JULY 1, 2023 – JUNE 30, 2024
Certificate of Valuation
Assessed Value for Levy Taxes
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 $3,061,300 25.00 $7,653
Personal Property 11,562 29
Total Class II $ 3,072,862 $7,682
CLASS IV
Real Estate $1,655,260 50.00 $8,276
Personal Property 2,314,475 11,572
Public Utility 872,865 4,364
Total Class IV $4,842,600 $24,212
TOTAL VALUE & PROJECTED REVENUE $7,915,462 $31,894
Less Delinquencies, Exonerations, &
Uncollectible Taxes 5.00% 1,595
Less Tax Discounts
(use Total Projected Revenue to calculate) 2.00% 606
Less Allowance for Tax Increment Financing – (If applicable) 0 Total Projected Property Tax Collection $29,693
Less Assessor Valuation Fund 2.00% 594
(Subtracted from regular current expense taxes levied only)
Net Amount to be Raised by Levy of Property Taxes $29,099
STATE OF WEST VIRGINIA
COUNTY OF OHIO
MUNICIPALITY OF VALLEY GROVE
I, Mary D. Philabaum, 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 municipal on the 20 day of March, 2023
Mary D. Philabaum,
Recorder/Treasurer
Int. & N/R March 28. April 4, 2023