Finance Department

Contact Information, Office Hours
Functions , Office Responsibilities
FAQ's , Common Terms , History , Interesting Facts
Financial Reports

Functions

Bill Payment
Fiscal Auditing
Fiscal Management
Payroll Processing

The Finance Department maintains the fiscal integrity of the County's financial records. This Office reports the results of the County's operations and changes in its financial position to various interested parties, such as state and federal grantors and regulatory agencies, financial markets, investors and concerned taxpayers.

This Office Does

	Provide payment to vendors
	Process and maintain employee time records and issue employee payroll checks
	Maintain financial and fixed asset inventory records for all County departments
	Work with financial markets to borrow funds needed to acquire facilities and equipment
	Monitor the stewardship of public funds
	Ensure the ability of the County to meet financial obligations
	Monitor compliance with legal and regulatory provisions applicable to the expenditure and investment of public funds

This Office Does Not

Issue tax bills or collect taxes (See Auditor , Treasurer)

Maintain financial records or pay bills for:

	-	Charleston County School District (See Charleston County School District)
	-	Municipalities and public service districts within Charleston County (See Municipalities , Public Service Districts)

Common Terms

Debt Instruments-- A device used by the County to borrow money for large expenditures and capital projects. Examples are General Obligation Bonds, Revenue Bonds and Certificates of Participation, which are repaid over 15 to 25 years.

Fixed Asset Inventory Records-- A catalogued list of the County's personal properties that exceed $5,000 in value, buildings that exceed $100,000 in value or land.

Stewardship-- The management of another's property or financial affairs.

Fiscal Management-- The act of supervising or controlling finances.

Frequently Asked Questions

Q:	Why does the County borrow money?
A:	Generally, to minimize the impact on millage rates when funding large-scale projects. Borrowing funds allows the County to spread payments for large projects over several years.

Q:	My business is doing work for the County. Who do I submit the bill to?
A:	All bills should be submitted to the department you contracted with. The department must verify the accuracy of the bill before sending to the Finance Department for payment.

History

The history of the Finance Department dates back to April 9, 1948, when its operation was mandated by Charleston County's charter from the State of South Carolina.

Interesting Facts

	The Finance Department has been awarded the Certificate of Achievement for Excellence in Financial Reporting by the Government Finance Officers Association for each fiscal year since 1988.
	Charleston County has a Standard & Poor's (S & P) bond rating of AAA and a Moody's Investors Service rating of Aa1. These high ratings are evidence of excellence in fiscal management for a county government.

Contact Information

Lonnie Hamilton, III Public Service Building
4045 Bridge View Drive
North Charleston, SC 29405
(843) 958-4600
(843) 958-4615 (Fax)

Office Hours

Monday-Friday
8:30 a.m.-5 p.m.