How strong is Beaufort County's credit rating? Click here to find out

BEAUFORT -- While turmoil in the national financial market pinches funding opportunities for the rest of the country, Beaufort County's credit rating is high enough to carry it through most of the upheaval, its financial advisor says.

Because of the county's rating, it still can find buyers willing to buy county bonds at a reasonable interest rate. That's good news for taxpayers.

The Beaufort County Finance Committee called in county financial advisor Brian Nurick on Thursday to explain how the financial crisis affects the county.

The county's high credit rating-- Aa on Moody's bond rating scale -- means it can garner lower interest rates when it pays back bonds.

However, the current financial market has caused long-term investors -- 10- to 20-year bonds, for example -- to shrink back as confidence that borrowers will be able to pay back loans diminishes

Therefore, the county will focus more on short-term bonds -- five to 10 years.

The county uses bonds to fund high-dollar projects -- upgrading its emergency communications infrastructure or purchasing ambulances, for example. County government funds about 75 percent of its operations with property taxes, Henrikson said before the meeting. A portion of the money collected from taxes repays bonds. State revenues, fees and charges from traffic tickets, real estate closings, building permits and reserves account for most of the remaining funding sources.

"I think anyone going into the market is subject to the influence of that credit market. However, I believe we are in a good position," Henrikson said.