b'Debt Service FundsDebt Service Funds account for the Countys accumulated debt related to capital projects and the payment of that long-termdebt. These debts are generally related to the issuance of bonds to fund large projects. The FY 2023-2024 budget for annualdebt service payments is $24,422,000, a decrease of $330,408 due to defeasance and refunding in the prior year.Capital Improvement FundThe County has incorporated a new three-year CIP plan. For FY 2023-2024, $21,232,455 million in capital improvementprojects are earmarked. All partially funded and unfunded projects are subject to future appropriations before completion.The Fiscal Year 2023-2024 budget book, graphs, tables and charts contained in the following pages reect structurallybalanced budgets for each fund, which was accomplished without a millage increase to taxpayers. This book also reects thegreateortstakenbytheBudgetStatoproduceauser-friendlydocumentthatlendstogreateravailabilityofCountyinformation and transparency to the citizens of Beaufort County.Therefore, I proudly present the Fiscal Year 2023-2024 budget. I would like to thank County Council, Sta and Citizens fortheir participation throughout this years budget development.Beaufort County, SC | Budget Book 2024 Page 9'