FISCAL YEAR JULY 1, 2015 – JUNE 30, 2016
LEVY ESTIMATE – BUDGET DOCUMENT
STATE OF WEST VIRGINIA
MUNICIPALITY OF Falling Springs,
Renick, West Virginia
In accordance with the 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:
General Fund Revenue Summary:
Assigned Fund Balance 8,599
Unassigned Fund Balance 20,000
Property Taxes 10,930
Gas & Oil Severance Tax 250
Excise Tax on Utilities 4,000
Wine & Liquor Tax 60
Licenses 150
IRP Fees 2,000
Dog Pound Fees 50
Parks & Recreation 500
Gaming Income 28,000
Interest 75
Video Lottery (LVL) 700
Miscellaneous Revenues 1,000
TOTAL ESTIMATED
GENERAL FUND REVENUES $ 76,314
COAL SEVERANCE TAX FUND:
REVENUE SOURCE:
Assigned Fund Balance: 400
Coal Severance Tax 700
TOTAL ESTIMATED REVENUE
(COAL SEVERANCE FUND) $ 1,100
Estimated GENERAL Fund
Expenditures: General Coal Severance
Fund Fund
Mayor’s Office $ 1,600 –
City Council 1,500 –
Recorder’s Office 1,500 –
City Attorney 5,000 –
City Auditor 4,752 –
Rehabilitation of Property 1,000 –
Regional Development Authority 150 –
City Hall 18,012 –
Other Buildings 1,000 –
Contingencies 4,000 –
Fire Department 500 –
Humane Society 500 –
Ambulance Authority 500 –
Streets & Highways 3,000 900
Snow Removal 3,000 –
Landfill 1,500 –
Parks & Recreation 2,000 –
Fair Associations/Festivals 3,000 –
Civic Promotions 800 –
Beautification Programs 1,000 200
General Government 2,000 –
Streets & Transportation 20,000 –
Total ESTIMATED Expenditures $ 76,314 $ 1,100
MUNICIPALITY OF Falling Springs, WEST VIRGINIA
LEVY PAGE
Regular Current Expense Levy
2015 – 2016
Column E
Certification of Valuation
Assessed Value Levy Taxes
for Tax Purposes Rate/$100 Levied
Current Year
Class I
Personal Property $ 0 12.50 $ 0
Public Utility 0 0
Total Class I $ 0 $ 0
Class II
Real Estate $ 2,067,800 25.00 $ 5,170
Personal Property 0 0
Total Class II $ 2,067,800 $ 5,170
Class IV
Real Estate $ 754,140 50.00 $ 3,771
Personal Property 300,990 1,505
Public Utility 306,822 1,534
Total Class IV $ 1,361,952 $ 6,810
Total Value &
Projected Revenue $ 3,429,752 $ 11,980
Less Delinquencies, Exonerations, & Uncollectable Taxes: 5.00{4ceb532c6f579389df471c6c1e832caf2346b74dc60fcbf6aabd4d29df3baf9c} 599
Less Tax Discounts (Use Total Projected 2.00{4ceb532c6f579389df471c6c1e832caf2346b74dc60fcbf6aabd4d29df3baf9c} 228
Revenue minus Delinquencies to calculate)
Less Allowance for Tax Increment Financing if Applicable 0
– see workshop (Subtracted from regular current
expense taxes levied only)
Total Projected Property Tax Collection $ 11,153
Less Assessor Valuation Fund 2.00{4ceb532c6f579389df471c6c1e832caf2346b74dc60fcbf6aabd4d29df3baf9c} 223
(Subtracted from regular current expense taxes levied only)
Net Amount to be Raised by Levy of Property Taxes $ 10,930
For Budget Purposes (Amount carries to #301-01 on GF REV tab)
I, Twyla Diehl, RECORDING OFFICER OF SAID MUNICIPALITY, DO HEREBY CERTIFY THAT THE FOREGOING ELECTRONIC FILES ARE TRUE COPIES FROM THE RECORD OF ORDERS MADE AND ENTERED BY SAID COUNCIL ON THE 12th DAY OF MARCH 2015.