Treasurer presents FY24 snapshot as donor bonus is cut to $646,000; committee approves $400,000 for Bluffton Parkway

Beaufort County's transportation committee heard a fiscal year 2024 year‑end report on Sept. 18 and was told a donor bonus apportionment was adjusted downward to $646,000 after a reporting error in York County.

The treasurer presented final FY24 figures: an opening balance of about $9.3 million, approximately $4.0 million in revenue, roughly $7.8 million in expenditures and an ending balance of near $5.0 million that includes a $500,000 reserve. For FY25, recurring revenues were estimated at about $2.7 million and the county's portion of the statewide nonrecurring allocation was cited at roughly $4.6 million, giving an expected overall $7.9 million in available funds for the year.

Treasury staff and members cautioned that having money is only part of the challenge; executing projects depends on contractor capacity, materials and procurement processes. "We started fiscal year 24 with a balance of a little over $9.3 million. We had revenue of just over $4,000,000 [and] expenditures of approximately $7,800,000," the treasurer said, noting the year-end balance and the need to roll requisitions into the new fiscal year.

On a related agenda action, the committee approved putting $400,000 out to make repairs and to include resurfacing from Buck Island Road to Red Cedar on Bluffton Parkway. Staff said the $400,000 will fund patching and that a full resurfacing package will be readied for bid.

The treasurer and staff said the county can manage multi-year balances and that the primary near-term obstacle to spending at scale remains contractor availability and supply constraints.

Next steps: staff will continue rolling requisitions into FY25, prepare the Bluffton Parkway bid package and report back on procurement progress and the donor-fund reconciliation.