Capital Projects Funds

The main revenue sources for the acquisition and construction of capital assets are Special Purpose Local Option Sales Taxes (SPLOST), Transportation SPLOST (TSPLOST), and debt financing. Taxes for each SPLOST and TSPLOST referendum are accounted for in their own fund in order to be sure that the monies are spent on projects and purchases approved within that referendum. These funds also receive grant or other revenues that supplement SPLOST projects. SPLOST and TSPLOST are both countywide sales taxes that are received in full by the County and distributed out to the cities of Statesboro, Brooklet, Portal and Register based on intergovernmental agreements. The total revenue for the County and Cities is accounted for within the County's funds and then the distributions to Cities are accounted for as expenditures within the County's SPLOST and TSPLOST funds.

Highlights for FY 2024:

• Intergovernmental expense type includes the distribution of sales taxes to the City of Statesboro and other municipalities
• TSPLOST was renewed by the voters, and tax collections under the new referendum will begin seamlessly as the previous tax expires
• Budgeted expenditures exceed budgeted revenues because fund balance will be used to balance the budget, particularly in TSPLOST