Tag Archives: capital reserve fund

The $4 billion piggy bank hidden from South Carolinians

October 23, 2019

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By RICK BRUNDRETT As state agencies prepare their proposed fiscal 2020-21 budgets, what they likely won’t reveal is the amount of “other” fund surpluses carried over year after year – collectively billions of dollars. As of June 30 – the end of the 2018-19 fiscal year – state agencies and divisions, plus several major state […]

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S.C. agencies sitting on nearly $500M in taxpayer funds

September 6, 2018

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By RICK BRUNDRETT As S.C. lawmakers plan to push a massive borrowing bill next year, they likely won’t publicly talk about the fat reserves that some state agencies have accumulated – including their own chambers. State agencies collectively carried over about $484.5 million in general funds into the fiscal year that started July 1, according […]

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S.C. House budgets millions for little-known Commerce fund

March 17, 2018

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By RICK BRUNDRETT In December 2016, the S.C. Department of Commerce quietly announced it was relaunching an online tool to connect companies seeking to locate in the state with available industrial sites, buildings and office space. But “LocateSC” is much more than a website – especially with a $10 million taxpayer price tag attached to […]

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House members approve public funding for their pet projects

March 14, 2018

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By RICK BRUNDRETT At least three S.C. House members – and some of their favorite nonprofits – were probably happy with today’s early morning passage of a $28 billion-plus state budget. Buried deep in the 2018-19 budget, which passed the House by a 117-2 vote and now goes to the Senate, are nearly $1 million […]

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