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Horry County reports stronger-than-expected FY26 revenues and lower-than-projected expenditures
Summary
Finance staff reported preliminary FY26 figures: $446 million in revenues across all funds (69% in general fund) and $371 million in expenditures; general fund revenues of $307.3 million were about 106% of budget while general fund expenditures were about 91% of budget, producing several fund-level net changes.
Miss Norman presented preliminary FY26 financial results to Horry County council, noting the figures are still being finalized. She said the county recorded $446,000,000 in total revenues for the fiscal year ending 06/30/2026, with 69% collected in the general fund, and total expenditures of $371,000,000 across all funds. "General fund total actual revenues are 2.7% higher than prior year," Norman stated, and general fund expenditures were about 10.6% higher than the prior year but came in below budget at approximately 91% of the projection.
She provided fund-by-fund highlights: the fire fund finished at 109% of budget producing a $2,400,000 net change in fund balance; the road maintenance fund had revenues at 108% and expenditures at 37% of budget, resulting in an approximate $10,000,000 net change mainly due to project timing; beach renourishment, stormwater, recreation, and waste/recycling funds also finished above revenue projections with varying expenditure rates. Norman emphasized these are preliminary year-end figures as entries are still being processed and said a fuller report will be shared at the fall retreat in November.
The council had no further questions during the presentation. Norman also noted GASB implementation planning for upcoming reporting changes (GASB 103 and 104 in FY27; GASB 105 in FY28).
