FAQs • Beaufort County, NC • CivicEngage

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Finance

1. What is the Fiscal Year?: Like many governmental entities, the Beaufort County Finance Department operates on an annual financial year which is distinct from the calendar year (January 1st to December 31st). Beaufort County's annual fiscal year runs from July 1st to June 30th. For example, Fiscal Year 2019 began on July 1, 2018 and ends on June 30, 2019.

2. What is the Payroll Cycle?: Beaufort County employees are compensated twice a month. The pay period every month falls on the 15th of the month and the last day of the month. For more details regarding employee compensation, please contact the Human Resources Department at 252-946-0079.

3. What is our Bond Rating?: Beaufort County currently has a A+ rating on general obligation bonds from Standard and Poor's, and a strong Aa3 Moody's Investors Service.

4. Does the County get audited?: Yes, Beaufort County is audited by an independent external auditing firm on a yearly basis. You may view all of Beaufort County's published audits.

North Carolina General Statute 159 authorizes the County to invest in:

Obligations of the U.S. Treasury
Obligations of any agency of the United States of America, provided the payment of principal and interest of such obligations is fully guaranteed by the United States
Obligations of certain quasi-federal agencies
Commercial paper bearing the highest credit rating available
Bankers' acceptances of accepting banks or holding companies either incorporated in the State of North Carolina, or having the highest available long-term debt rating
The North Carolina Capital Management Trust, a Securities and Exchange Commission (SEC) (2A-7) registered mutual fund.

Beaufort County investment model focuses on low risk investments first and then liquidity of funds.

6. When is the next bond sale?: The dates of bond sales are determined by assessing cash flow needs of the Capital Improvement Program. The date of the bond sale is set by the Director of Finance in consultation with the Local Government Commission. The date of the next bond sale will be posted to the Finance Department page prior to the sale.