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Finance committee recommends $15 million county contribution to Beaufort Memorial Hospital and Technical College of the Lowcountry; sends amended resolution to
Summary
The committee voted to send a resolution to County Council to reallocate $15 million from the county CIP fund—$8 million to Beaufort Memorial Hospital and $7 million to Technical College of the Lowcountry—changing the prior plan from debt service/loan to a one‑time county contribution and clawing back a millage previously set aside.
The Beaufort County Finance, Administration and Economic Development Committee voted on Sept. 15 to send to County Council an amended resolution that would reallocate $15,000,000 from the county’s CIP fund to two local institutions: $8,000,000 to Beaufort Memorial Hospital and $7,000,000 to the Technical College of the Lowcountry. The committee approved forwarding the amendment without objection.
Finance staff said the change responds to both agencies’ reluctance to assume debt service tied to an earlier plan. Chief financial staff explained the prior approach had effectively set aside millage for debt service tied to bond financing; the amended proposal would instead make a one‑time county contribution and have the county carry associated debt service on its books. “If we could take the contributions, both TCL and BMH has reduced their request,” the finance presenter said, and recommended appropriating $15,000,000 from the CIP fund and reassigning $15,000,000 of CIP projects into the county’s bonded program so the county can manage debt service internally.
Committee members pressed for clarity about the original vote and accounting. One member recalled the earlier plan had been presented as a loan; finance staff said the agencies and the committee had understood the prior action differently and that the revised resolution repeals or amends the earlier measure. Members requested that the backup materials to County Council include the original resolution text and the proposed replacement so councilors can compare the two.
Committee members also sought assurances about fund balance and millage effects. Finance staff said the $15 million was already pulled from fund balance into the CIP fund and that the county must maintain at least 30% of fund balance. Staff agreed to provide a follow‑up presentation at the next finance committee meeting showing what was collected in FY25 and what is anticipated for FY26 so members can see how the clawed‑back millage will affect long‑term projections.
The committee made a recommendation to send the revised resolution to County Council with the committee’s endorsement. The matter will next appear on the County Council agenda for final action; the committee asked staff to include both the original and the new resolution text in the council backup materials.
