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Beaufort County board signs off on millage, bond authorizations and budget reports
Summary
The board approved the debt-service millage levy and authorized two bond resolutions (one for up to $43.57 million for 8% projects and a refunding up to $38.75 million); finance staff reported ESSER spending is nearly complete and the district fell short of its 10% MWBE goal, reaching roughly 7%.
The Beaufort County Board of Education on June 25 approved a debt-service fund millage levy for tax year 2024, authorized two bond resolutions and accepted finance updates showing near-completion of federal ESSER spending and continued efforts to increase contracting with minority- and woman-owned businesses.
Chief Financial Officer Tonya Crosby briefed the board that the district has expended 73.3% of its budget with one month remaining and that ESSER I–III spending is nearly complete, with the district 92% finished on ESSER III. Crosby said the district's millage remains at 121.8 and staff do not anticipate a tax increase.
The board voted unanimously to approve the debt-service fund millage levy after staff explained the levy covers principal and interest schedules and cash-flow low points. Bond counsel then presented two resolutions: authorization to issue up to $43,570,000 in general-obligation bonds for the district's annual 8% projects, and a refunding authorization not exceeding $38,750,000 to refinance bonds issued in 2015 with a projected life-of-issue savings of about $1.5 million. The 8% project authorization passed unanimously; the refunding resolution carried with one recorded nay.
The finance committee also reported on the district's Minority/Woman-Owned Business Enterprise (MWBE) efforts. Committee members said $663,611.86 (about 7% of controllable budgets) went to MWBE vendors during the reporting period, short of the board's 10% goal. Committee members described outreach efforts, including partnering with local chambers and training programs to help potential vendors meet bonding and certification requirements.
Board members asked for continued outreach and suggested embedding entrepreneurship and procurement skills into career and technical education programs to build a pipeline of qualified local firms.
The board approved the motions and accepted the financial reports; staff will forward levy information to the county auditor as required.
