b'Strategic GoalsOur number one goal is to make sure that Beaufort County remains nancially sound and that we maintain a respectable contingency account to take care of the true emergencies that do arise from time to time; and to provide for a sucient fund balance to enable our cash ow to carry us through those months prior to the billing and collection of property tax revenues. We have taken a systematic, businesslike approach to the running of Beaufort County. Additionally, we want to preserve our current Aa1 Moodys and AA+ Standard & Poors bond ratings.In December 2018, the County formally adopted written nancial policy guidelines. This document provides policies and guidance for the Countys operating budget, capital improvement projects (CIP) budget, nancial reserves including the general fund and debt service fund and a cash management and investment policy.In December 1997, the County adopted a Comprehensive Plan for Beaufort County. A portion of this plan is a comprehensive land use study which proposes various preservation areas and greenways. As a result, the County taxpayers approved ve bond referendums totaling $160,000,000 for the purchase of rural and critical lands. The County has issued the entire $160 million of General Obligation bonds approved by the referendums. The County had expenditures of $1,796,954 for this initiative during scal year 2021. The Comprehensive Plan was adopted again on November 15, 2021.In November 2006, County voters approved a 1% sales tax referendum, with the proceeds, along with County road impact fees, funding various major road projects throughout Beaufort County. This 1% sales tax ended in 2013. These projects include the expansion of the Bluton Parkway, Boundary Street improvements and the widening of South Carolina Highway 170. In addition to the sales tax and impact fee revenue, the County has obtained partial grant funding for these projects as well. The County had no expenditures during Fiscal Year 2022.In November 2018, County voters approved a 1% sales tax referendum that became eective in May 2019 and will be in place for four years, or until a total of $120 million in resulting revenue has been collected. This revenue will fund the repair and/or replacement of the Hilton Head Island bridge, roadway trac improvements between the Woods Memorial Bridge and the Chowan Creek Bridge as outlined in the Ladys Island Corridor Study dated May 19, 2017, and install and repair sidewalks and multi-use pathways at multiple locations within Beaufort County to provide safe walking routes to schools and improved access to residential communities. The County collected a total of $146,167,197 in sales tax from the referendum. The related expenditures for these projects in 2022 were $6,398,608. Due to strong collections since inception, the County retired this tax December 31, 2021. The dierence in collectionsversuswhat was anticipated to be collected will be used to fund underfunded projects within the Sales Tax referendumproject listing.Beaufort County, SC | Budget Book 2024 Page 34'