PHILIPPI - Philippi City Council approved the budget for the coming fiscal year during a special meeting Thursday.
The budget projects $1,152,897 in revenue for the general fund and $14,000 from the coal severance tax overall. Those budgets will be submitted to the state for the 2014-15 fiscal year.
"We had a little more funds to work with because of some of the construction that was going on with (Alderson Broaddus University)," Councilman Terrence Boyd said after the meeting. "I think we had a little bit more B&O taxes than what we initially budgeted for."
ABU has been growing in enrollment, and the campus has undergone new renovations and construction with new dormitories, a newly renovated student union and a new sports stadium. When the campus grows, Philippi's earning potential in B&O taxes also grows, officials said.
The budget projects total revenue from taxes will be $761,192, with $25,380 for fines and forfeitures, $103,800 in licenses and permits, $154,000 for charges for services, $98,500 for intergovernmental revenue and $10,025 from miscellaneous sources.
"Like with any municipality, there's things in which we're going to have to look at, and I'm sure there will be some revisions that will have to be adjusted," Boyd said. "I'm confident with our budget, what we approved today. There's things we'll have to continue to look at and continue to monitor... making sure that we're not spending more than what we're bringing in."
After hearing back from the state, Philippi City Council will meet at 7 p.m. April 15 to approve the final rates following any potential state recommendations.
The next regularly scheduled Philippi City Council meeting will be 7 p.m. April 1.