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Marlboro County finance director: revenues and expenditures up; inflation pushing costs higher
Summary
Finance Director Wes Park reported year-to-date revenues of $9.77 million and expenditures of $10.76 million through Feb. 28, 2025, and warned that inflation-driven cost increases may cause expenditures to exceed the budget.
Wes Park, Marlboro County finance director, told the council on March 11 that general fund revenues and expenditures are both higher than a year earlier and cautioned that inflation is increasing countywide costs.
Park reported general fund revenue for the eight months ending Feb. 28, 2025, totaled $9,766,851 compared with $8,904,274 for the eight months ending Feb. 29, 2024. He said general fund expenditures for the month ended Feb. 28, 2025, totaled $10,761,943 of a $14,748,543 budget, equal to 72.97% year to date. The minutes also state that general fund expenditures totaled $9,286,822 for the "same seven months ending Feb. 29, 2024," an internal inconsistency in month counts in the recorded minutes.
Park told Council that while revenues are anticipated to exceed the budget, inflation-driven increases in costs mean expenditures are likely to outpace those revenue gains. Council received copies of the capital projects and cash balances reports for further review.
Council did not take any formal action on the finance report during the meeting; Park's presentation will inform the April budget meeting, when department heads will be asked to present their needs.
