The Beaufort County Treasurer Maria Walls has announced the collections results for tax year 2018 and record-setting investment returns for fiscal year 2019. By developing and implementing a new investment strategy, Beaufort County earned a record $4,700,399 in fiscal year 2019; increasing investment revenue 1,004% since fiscal year 2016.

 

The Beaufort County Treasurer serves as the County’s chief banker and investment officer, charged with the responsibility of investing funds that are not needed for immediate expenditures. As of October 21, 2019, the total dollars billed for tax year 2018 was $428,577,429, which comprises the ad valorem taxes billed for real and personal property, as well as motor vehicles. The real and personal property collection rate for tax year 2018 was 98.72%, the highest rate in almost a decade.

 

Beginning in fiscal year 2017, Treasurer Walls transformed the Office’s investment strategy by establishing a formal investment policy and a liquidity management plan; working closely with the County’s bank and three+one advisors. The Treasurer’s Office utilizes two primary investment options. The first is the Local Government Investment Pool (LGIP), an investment pool managed by South Carolina State Treasurer Curtis Loftis that functions similar to a highly liquid money market fund. The other investment options used are Treasury and Agency bonds.

 

To learn more, watch Treasurer Walls’ presentation of collections to Beaufort County Council or visit www.beaufortcountytreasurer.com.