BEAUFORT, S.C. (June 13, 2024) – City Council approved a $55.7 million consolidated budget for Fiscal Year 2025 at its June 11 Regular Meeting.
This budget is $2 million less than the FY2024 budget. The millage rate is 73.9 mills, which is unchanged from FY2024. (The fiscal year begins on July 1, 2024, and ends on June 30, 2025.)
The consolidated budget includes outlays for capital projects of $21.6 million.
The City of Beaufort has experienced business growth from a strong economy. For FY2025, increased revenue is expected to come from business licenses, building permits, and local hospitality and accommodation taxes.
Property taxes, which provide 38% of the revenue of the General Fund and are the largest revenue source for the City, are expected to generate $9.6 million in revenue.
The budget recommends increases to various fees, mostly related to development. Many fees have not been updated for years. These increases more closely align the City with development fees incurred in neighboring jurisdictions.
"This budget enables us to continue advancing the City for the benefit of our citizens, business owners, and visitors,” said City Manager Scott Marshall. “It allocates the necessary resources to implement policies and achieve the priorities established by the Council. Additionally, it ensures our ability to recruit and retain high-quality, dedicated public servants."
Highlights
- Continued funding for City Council priorities identified in the fiscal Year 2023-2025 Strategic Plan
- Funding for strategic partners, including the Beaufort/Port Royal Convention & Visitors Bureau, the Beaufort Digital Corridor, and the Beaufort County Economic Development Corp.
- $50,000 for a pilot program to help with neighborhood revitalization and/or rehabilitation of dilapidated structures
- A 3% cost-of-living adjustment for employees, with an additional up to 2% merit increase
- Absorption of a 3% increase in employee health care coverage
- Absorption of an increase in solid waste fees charged to residents
- 1 new full-time employee, a capital projects manager
Capital projects
The city has numerous capital projects underway or scheduled to begin in FY2025. Many of these are partially funded by grants. These projects are budgeted for $21.6 million. They include:
- Improvements to Southside Park, Washington Street Park, and SC Volunteers Park
- Stormwater drainage projects on King Street, Battery Shores, Bayard Street, Charles/Craven, and Port Republic/Carteret streets
- Pigeon Point drainage study
- Streetscape projects (which include drainage) for Calhoun Street, Allison Road, and Duke Street
- Depot Road/Spanish Moss Trail extension
- New marina fuel tanks
- Pigeon Point boat landing
FY2025 Budget Frequently Asked Questions
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