The Beaufort County Treasurer’s Office is responsible in part for investing County funds not needed for immediate expenditures.  The Treasurer’s Office recently announced that by developing and implementing a new investment strategy, the office recorded earnings of $2,976,382 for fiscal year 2018 - an investment revenue increase of 699% since fiscal year 2016.

In 2017, Beaufort County’s Treasurer Maria Walls, CPA, began working with the County’s bank, investment professionals, and threeplusone advisors to establish a formal investment policy and a liquidity management plan.

The Treasurer’s Office utilizes two primary investment options.  The first is the Local Government Investment Pool (LGIP), similar to a highly liquid money market fund, managed by the South Carolina State Treasurer’s Office.  The second investment options used are treasury and agency bonds, which allowed the Treasurer’s Office to select bonds offered through a broker thereby eliminating investment advisory fees.

At the March 4 Beaufort County Council Finance Committee meeting, Treasurer Walls reported that investment earnings for the current fiscal year have already exceeded $3 million with several months remaining until the fiscal year closes on June 30.  Treasurer Walls anticipates another half million dollars in investment earnings by that date.

To learn more the County’s investment revenues updates, watch Treasurer Walls’ presentation to Beaufort County Council or visit www.beaufortcountytreasurer.com.