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Finance committee says district on track for year as auditors begin field work
Summary
Finance staff told the Beaufort County Board of Education Finance Committee the district has expended 59% of its budget as of May 2, 2025, and that auditors have begun field work; staff also reported tax and state revenue collection figures for the third quarter.
The Beaufort County Board of Education Finance Committee was told the board had expended 59% of its budget as of May 2, 2025, and that auditors are already performing field work, finance staff said.
The presenter said local property tax collections as of March 31 were $211,700,000, or about 96% of the expected budgeted amount, and state revenues were $91,000,000, or roughly 67% of projections for the third quarter. “The board has expended 59% of its budget,” the finance presenter said, adding that some underspending is driven by vacancies.
Staff also reported total third-quarter spending of about $232,000,000 and noted that salaries and benefits are showing underspending because of unfilled positions. Capital program status reports were presented: projects from the 2019 referendum are about 98.9% paid and encumbered, and 2023 referendum projects are approximately 41.6% underway.
Committee members supported staff’s proposal to shorten the printed packet into a visual executive summary and post detailed capital-project pages on the district website with links to the full details. The committee asked staff to return with an updated, more visual summary at a future meeting.
The committee did not take any new binding financial actions at the meeting; staff said they will continue monitoring revenue and vacancy impacts as the fiscal year closes.
