No Tax Increase Required to Fund Horry County Schools in FY 2025

The Horry County Board of Education approved the 2024-2025 Superintendent’s Comprehensive Budget on June 17, 2024. The Comprehensive Budget includes the General Fund, which is the District's primary operating fund. The General Fund includes the general operating costs of the school district, such as salaries, utilities, maintenance, and instructional costs, totaling $638.2 million. This budget does not call for a tax increase. Additional revenue needed to meet the approved budget included $32.7 million from the unassigned fund balance. The projected fund balance for the General Fund on June 30, 2024, is expected to be $149.2 million. This amount maintains the Board established a minimum of 15% and provides adequate reserves for 2024-2025.

Since the approval of Act 388 in 2008, school districts no longer receive operational property taxes from owner-occupied homes.  As a result, local revenue is primarily generated by property taxes levied on businesses, industries, vehicles, and other personal property.

Notable highlights include:

• Total budget: $1.16 billion 
• Staffing for student enrollment changes and continuation of ESSER positions. Total cost: $16.1 million
• STEP (longevity) increase or a 2% raise for all school district employees, including teachers. Total cost: $7.4 million
• $2,000 salary increase for teachers. Total cost: $9.2 million
• 3% salary increase for support staff (except special needs paraprofessionals and bus drivers) and non-teaching professionals who work in a school building. Total cost: $2 million
• Increased hourly rate for special needs paraprofessionals. Total cost: $2.1 million
• Increased bus drivers’ salaries. Total cost: $284 thousand
• 2% salary increase for non-teaching professionals. Total cost: $1.1 million
• Group health insurance. Total cost: $3.8 million
• Staffing adjustments (includes ESSER positions and 495 new students). Total cost: $14.5 million 
• Student searches by staff. Total cost: $3.7 million
• Additional elementary learning loss interventionists. Total cost: $2.7 million
• Additional funding for HCS Child Development Program. Total cost: $1.9 million
• Two additional safety and security specialists. Total cost: $199 thousand
• One additional unarmed security guard per school to conduct all-day searches. Total cost: $2.1 million

The expenditure side of the General Fund budget supports salaries and benefits for 4,028 professional positions and 1,918 classified positions. Of the entire operating budget, 86.4% is dedicated to employee compensation (salaries and benefits). The remaining 13.6% is committed to purchasing supplies, materials, utilities, technology, payment to public charter schools, and other operational expenditures.