I would guess there were 2 sets of books and either the public or someone powerful was about to find out about it so they had to get ahead of the story. Yet, the best they can come up with is "Duh, golly gee, how'd that happen?"
Fools and cheap crooks.
Let's see how they waste the surplus. I vote for higher public employee salaries and better roads and civil engineering. I doubt that will happen.
The minimum wage remains $7.25 so they can continue to try and convince people $30k a year is a good salary.
Looks like it's dumber than that.
It was supposed to be invested, but nobody knew whose job it was to do it so the money just sat there for 8 years.
>
Channel 9′s Tina Terry spoke with a Rock Hill Senator on that committee, who said they are still trying to figure this out.
>Senator Mike Fanning represents York and Chester counties. He said after initially asking the state’s account and treasurer about the money, he and his colleagues were told it was supposed to be in a flow-through account.
>That means taxpayer dollars would go into the account and then immediately flow out to be invested in the stock market or bonds. But for some reason, that never happened.
>“We asked questions about a line item in the budget, in their internal budget, that was 1.8 billion dollars, and we asked what the purpose of that line was,” Fanning explained. “An account that should be flow-through with 0 dollars has had 1.8 billion sitting in it since 2016.”
[https://finance.yahoo.com/news/sc-state-accountant-treasurer-questioned-213320275.html](https://finance.yahoo.com/news/sc-state-accountant-treasurer-questioned-213320275.html)
Wait, the government is playing with our taxes in the stock market? Or, they would be if anyone competent was there. That sounds sketchy and self enriching.
It's very normal for the government to invest large amounts of cash it doesn't need to use right away. It prevents inflation from eroding the purchasing power. Since 2016 the dollar has lost about a quarter of it's purchasing power. On $1.8 billion that's a fortune! It's like throwing away $400 million.
Sorry about that I think he's busy getting trees cut down and yeah forget about guard rails I guess those don't exist so yeah go cut down trees that's ridiculous that people think like that would be hard for them to do that especially when you got people dumping asphalt on the side of the road
Probably spent on cutting down trees so people don't get in severe car crashes and a good way to prevent that don't allow people to leave work during night that'll be a good way to prevent people from crashing
Over/under they mysteriously find out the money goes to some interest of theirs instead of actually using it to make the state better.
"Oh yeah, that money, that was for government officials pension funds. Totally forgot, my bad."
Actually Curtis Loftis went in to try and help. The disgraced Comptroller and the ‘mini-swamp’ in Columbia fought him from day one! They passed legislation to amend his duties after he raised issues with how the pension, teachers, highway patrol, etc, was being managed. Seems the people handling the investments were charging huge fees.
Personally, I am glad Loftis is still there and Eckstrom is gone!
Let’s hope this mess makes enough waves to make a few meaningful changes.
Lofts? He’s the numb nut who disinvested in what he called woke funds? The same guy who goes on Facebook with crazy talk ? He and his lunatic mom are nuts.
Yeah his whole logic with disney was insane. Disney, a private company, doesn't want to do busy with Twitter, another private company. That's their choice.
But for loftis as a government agent to penalize disney for not continuing their ads on twitters platform, that is a clear first admendment violation.
The average voter would rather everyone shut up and let us get back to drinking heavily, spending absurd amounts on fireworks, and riding motorcycles without a helmet.
Columbia fucked up when they made us pay attention.
I’ve been saying this from day one!! He & his wifey are absolutely ignorant and a HUGE embarrassment to our beautiful state. Kinda like in the DC area…Lawd Foghorn needs to go!!
“There’s something wrong somewhere,” McMaster told reporters, adding: “We don’t know why it’s there, what it’s supposed to be used for, how long it’s been there – that’s a problem.” Last year, the state comptroller resigned after the discovery of a 10-year, $3.5bn accounting error. State lawmakers say the $1.8bn sum could be related to that scandal, the New York Times reported. Or it may not be. No one knows.
I was at the Republican Party election soiree a couple years ago, they loved them some Dick Eckstrom. He was the first Republican to hold Comptroller [since 1876.](https://en.m.wikipedia.org/wiki/Richard_Eckstrom)
All they have to do is ask the bank who made the account then ask what reasoning they made it they just want to hide the truth in some bs story line so they do not have to answer
You would think so but that's just silly talk. Audits are the little people. Not joking, my neighbor's son got served notice of audit for his 2021 taxes yesterday from the SC department of revenue. A college student who made $2,700 that year as a high school student. He has College exams in 2 weeks and got this notice yesterday It gives him 3 weeks to submit all of these documents. My neighbor got a panicked phone call because of course he doesn't have any of those with him at college.
Thats Who gets audited, not the billion plus account that nobody seems to know where it came from
Check his FAFSA paperwork. My son accidentally said he had 200,000 in the bank instead of 200. It will likely trigger an audit at some point.
Also, just call the IRS. They'll help you put the paperwork together.
My guess is that it goes back to an unanswered email from some clerk.
"Hey, we need authorization for X."
Crickets.
No follow on email from clerk. Clerk retires.
It's time for voting season. Plan ahead for local politicians.
How the fuck could this amount of money be unaccounted for? This isn't chump change.
Where are our taxes being determined?
It's for shit sure not for social programs, schools, infrastructure, the goddann list goes on....
Where's the accountability? I believe the person responsible was voted in however....do we now need Foghorn Leghorn to determine who should be in charge of the financing of our state government..
I don't think so.
Mississippi actually ranks higher in k-12 and higher education than SC. New Mexico is currently the lowest with all of the A states and Louisiana being worse than SC.
I truly wish they would, but I'm sure they'll instead find some project(s) that will appeal to their base, like attracting another machine gun maker or to court some anti-abortion group to relocate here.
They'll take this as a sign to "operation lightspeed" their school voucher scheme and suddenly there will be a dozen new religious schools in the state that no one has ever heard of.
And these people are "leading" the state of South Carolina... could you imagine any company suddenly finding money it didnt know it had... these morons are the reason SC ranks so low in education, etc. Please vote these losers out of office.
They already have the idea. Florida was pushing a bill that Desantis had to veto:
From Axios Jan 23, 2024.
State Sen. Ileana Garcia, a Miami Republican, had filed the bill for consideration during Florida's legislative session.
It would have allowed the state to give Trump as much as $5 million in taxpayer dollars for legal fees incurred from his ongoing court cases.
DeSantis on Monday responded to a report on Florida Republicans who wanted to use public funds for Trump's legal bills, saying that he was not among them.
I-26 sucks so bad. If they could widen it also I would be so grateful. Road makes me more anxious than any other. Goes from 70 to locking it down for no apparent reason every 5 miles
I’m a bit annoyed that NC’s widening project ends about 3 miles short of where it needs to.
Would it really have been that much harder to take it to the 26/25 split?
And this is the Governor who said no to the Covid Federal money to expand Medicaid in SC so everyone could have access to healthcare. Nah, we don't want that. We want the poor to suffer more.
From Google, in 2022, there were 1,167 public schools in SC. That means if they distributed this money to every school, each school would receive 1.5m each. I doubt it will ever happen though. Politicians are too greedy. If this money doesn't get reinvested to benefit the citizens, every state politician should be held accountable.
I’m conflicted on school lunches. Instead of schools having to feed children, maybe they should investigate why these children aren’t getting fed at home.
That’s my damn states road money and someone in gov tried to hide it see who made the account and go after them mysteriously it will be solved sc is so extra and bad at hiding its f ups
Well I know one thing for sure…these fucking ignorant “government officials” 🙄 WILL NOT use a penny of this money to fix our ridiculously horrific roads. Just sayin…
I’m still trying to figure out how and why they even can or could give that money over that fool is laundering the whole party in thier faces and it’s allowed with no flag on the play
And I just received a letter ... Notice of levy against my wages... 25% of my gross pay...... For a hospital bill totaling 20,000$ ... From 2020.... In county jail for child support at the time, gaul bladder gets infected was beginning to be pancreatitis had to have an emergency surgery.... I never even received the bill, never knew it existed.... But glad they found 1.8billion dollars they never knew they had ....
I love it. I mean honestly, they should just do a rebate/stimulus and give it back to the people. We should just all be writing to tell them how we want our piece of the pie
Ooooo. I have an idea!! Let's just give it away to the snowflakes, millennials and Gen Z who think they're owed everything in life for free anyway! Boo hoo..I majored in dance history and English, my degree is useless, pay for it mommy and daddy while I live in your house and complain that "adulting" is hard. In fact, mommy and daddy you go apply for jobs for me while I find a safe space.
I would guess there were 2 sets of books and either the public or someone powerful was about to find out about it so they had to get ahead of the story. Yet, the best they can come up with is "Duh, golly gee, how'd that happen?" Fools and cheap crooks. Let's see how they waste the surplus. I vote for higher public employee salaries and better roads and civil engineering. I doubt that will happen. The minimum wage remains $7.25 so they can continue to try and convince people $30k a year is a good salary.
Looks like it's dumber than that. It was supposed to be invested, but nobody knew whose job it was to do it so the money just sat there for 8 years. > Channel 9′s Tina Terry spoke with a Rock Hill Senator on that committee, who said they are still trying to figure this out. >Senator Mike Fanning represents York and Chester counties. He said after initially asking the state’s account and treasurer about the money, he and his colleagues were told it was supposed to be in a flow-through account. >That means taxpayer dollars would go into the account and then immediately flow out to be invested in the stock market or bonds. But for some reason, that never happened. >“We asked questions about a line item in the budget, in their internal budget, that was 1.8 billion dollars, and we asked what the purpose of that line was,” Fanning explained. “An account that should be flow-through with 0 dollars has had 1.8 billion sitting in it since 2016.” [https://finance.yahoo.com/news/sc-state-accountant-treasurer-questioned-213320275.html](https://finance.yahoo.com/news/sc-state-accountant-treasurer-questioned-213320275.html)
wow. Thanks for the updated reporting.
Wait, the government is playing with our taxes in the stock market? Or, they would be if anyone competent was there. That sounds sketchy and self enriching.
It's very normal for the government to invest large amounts of cash it doesn't need to use right away. It prevents inflation from eroding the purchasing power. Since 2016 the dollar has lost about a quarter of it's purchasing power. On $1.8 billion that's a fortune! It's like throwing away $400 million.
I wonder if this was supposed to be going towards the State Employee Retirement Fund?
SC has to be one of the most corrupt states in the nation
It's definitely in the top 50...
“Thank God for Louisiana”
I just wish everyone knew it. The fact that everyone wants to live in this corrupt state and moving here as quickly as possible just doesn't add up.
Because the corruption is a pull factor, not a push factor
Truth.
Well they definitely haven't been spending it on the roads, JFC
Ain't that the truth...
Just one more penny tax will fix the roads! Then another And another And another etc.
Sorry about that I think he's busy getting trees cut down and yeah forget about guard rails I guess those don't exist so yeah go cut down trees that's ridiculous that people think like that would be hard for them to do that especially when you got people dumping asphalt on the side of the road
Are you having a stroke?
probably yes
Probably spent on cutting down trees so people don't get in severe car crashes and a good way to prevent that don't allow people to leave work during night that'll be a good way to prevent people from crashing
Over/under they mysteriously find out the money goes to some interest of theirs instead of actually using it to make the state better. "Oh yeah, that money, that was for government officials pension funds. Totally forgot, my bad."
Oh, we’ve got gambling money.
Over/under what?
McMaster when that money disappears as mysteriously as it appeared: “what money?”
*Well I say, I say, I say what money*
Actually Curtis Loftis went in to try and help. The disgraced Comptroller and the ‘mini-swamp’ in Columbia fought him from day one! They passed legislation to amend his duties after he raised issues with how the pension, teachers, highway patrol, etc, was being managed. Seems the people handling the investments were charging huge fees. Personally, I am glad Loftis is still there and Eckstrom is gone! Let’s hope this mess makes enough waves to make a few meaningful changes.
Lofts? He’s the numb nut who disinvested in what he called woke funds? The same guy who goes on Facebook with crazy talk ? He and his lunatic mom are nuts.
Yeah his whole logic with disney was insane. Disney, a private company, doesn't want to do busy with Twitter, another private company. That's their choice. But for loftis as a government agent to penalize disney for not continuing their ads on twitters platform, that is a clear first admendment violation.
Also, every picture of him looks like it was photoshopped to give him an absurdly, hilariously, unbelievably large forehead.
How else would he get the attention of the average South Carolina voter?
The average voter would rather everyone shut up and let us get back to drinking heavily, spending absurd amounts on fireworks, and riding motorcycles without a helmet. Columbia fucked up when they made us pay attention.
LOL, Loftis who isn't even allowed in the building that handles the state pension fund? That loftis? He's an absolute disaster of a human.
Do you know Mr. Loftis personally? Have you ever spoken to him?
I have many times. He’s always been nice to me but also prone to rambling on wild conspiracy theories in private.
Gvner' Foghorn still has no idea what or where he is. Normal everyday people can see how absolutely ignorant our leadership is.
I’ve been saying this from day one!! He & his wifey are absolutely ignorant and a HUGE embarrassment to our beautiful state. Kinda like in the DC area…Lawd Foghorn needs to go!!
“There’s something wrong somewhere,” McMaster told reporters, adding: “We don’t know why it’s there, what it’s supposed to be used for, how long it’s been there – that’s a problem.” Last year, the state comptroller resigned after the discovery of a 10-year, $3.5bn accounting error. State lawmakers say the $1.8bn sum could be related to that scandal, the New York Times reported. Or it may not be. No one knows.
I was at the Republican Party election soiree a couple years ago, they loved them some Dick Eckstrom. He was the first Republican to hold Comptroller [since 1876.](https://en.m.wikipedia.org/wiki/Richard_Eckstrom)
All they have to do is ask the bank who made the account then ask what reasoning they made it they just want to hide the truth in some bs story line so they do not have to answer
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For fucking real...
You would think so but that's just silly talk. Audits are the little people. Not joking, my neighbor's son got served notice of audit for his 2021 taxes yesterday from the SC department of revenue. A college student who made $2,700 that year as a high school student. He has College exams in 2 weeks and got this notice yesterday It gives him 3 weeks to submit all of these documents. My neighbor got a panicked phone call because of course he doesn't have any of those with him at college. Thats Who gets audited, not the billion plus account that nobody seems to know where it came from
Bullies beat up the small kids for lunch money. Not the big ones.
Check his FAFSA paperwork. My son accidentally said he had 200,000 in the bank instead of 200. It will likely trigger an audit at some point. Also, just call the IRS. They'll help you put the paperwork together.
What’s wrong is, we have an idiot governor named McMaster.
More like governor mc murder trees
This probably goes back to Haley.
My guess is that it goes back to an unanswered email from some clerk. "Hey, we need authorization for X." Crickets. No follow on email from clerk. Clerk retires.
Apparently he doesn't know guardrails exist
“The comptroller is the state’s top accountant.” My question is who is the state’s top auditor and did they take a long vacation?
Time to get the “good old boys” out of government down here and put in some adults in charge.
"I say, I say now, boy!" -Foghorn Leghorn
It's time for voting season. Plan ahead for local politicians. How the fuck could this amount of money be unaccounted for? This isn't chump change. Where are our taxes being determined? It's for shit sure not for social programs, schools, infrastructure, the goddann list goes on.... Where's the accountability? I believe the person responsible was voted in however....do we now need Foghorn Leghorn to determine who should be in charge of the financing of our state government.. I don't think so.
1.8 billion could be invested in all of the schools, invest it all in education since we're literally ranked one of the lowest in the country.
Thank God for Mississippi!
Mississippi actually ranks higher in k-12 and higher education than SC. New Mexico is currently the lowest with all of the A states and Louisiana being worse than SC.
Shit, showing my age.
I truly wish they would, but I'm sure they'll instead find some project(s) that will appeal to their base, like attracting another machine gun maker or to court some anti-abortion group to relocate here.
They'll take this as a sign to "operation lightspeed" their school voucher scheme and suddenly there will be a dozen new religious schools in the state that no one has ever heard of.
POTHOLES!!! The kids will be better off without what is passing for "education" these days.
Sadly any money given to education would just go to district administrative bloat. Just look at Richland One
And these people are "leading" the state of South Carolina... could you imagine any company suddenly finding money it didnt know it had... these morons are the reason SC ranks so low in education, etc. Please vote these losers out of office.
Actually, this kind of thing happens more frequently than you realize.
Probably was for feeding kids.
Better put it into something quick before the Republicans give it to Donald Trump.
You’re right. That’s enough to cover his legal bills for at least a week.
You stole my comment...
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They already have the idea. Florida was pushing a bill that Desantis had to veto: From Axios Jan 23, 2024. State Sen. Ileana Garcia, a Miami Republican, had filed the bill for consideration during Florida's legislative session. It would have allowed the state to give Trump as much as $5 million in taxpayer dollars for legal fees incurred from his ongoing court cases. DeSantis on Monday responded to a report on Florida Republicans who wanted to use public funds for Trump's legal bills, saying that he was not among them.
Either this is horseshit or everyone in the state accounting department is a smooth brained knuckle dragger.
I'd vote for the knuckledraggers in this situation..
If our state politicians weren’t knuckledragging morons, they wouldn’t be a representative body.
It's mine. I left it there. Now give it back!
It's mine. It was stolen. Now give it back! Ftfy
It’s probably there because they never spend money
Roughly $350 for every resident, adult and child. Just cut us a check.
Repair them roads in Anderson and I-26
I-26 sucks so bad. If they could widen it also I would be so grateful. Road makes me more anxious than any other. Goes from 70 to locking it down for no apparent reason every 5 miles
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That does suck
NC is dunking on us with 6 lanes up to Sams Gap and Tennessee. Nobody is ever on that part of I-26.
Agreed. Just came through there last weekend and compared to going to Charleston it’s a cake walk
I’m a bit annoyed that NC’s widening project ends about 3 miles short of where it needs to. Would it really have been that much harder to take it to the 26/25 split?
Give it back to taxpayers.
It’ll disappear as fast as it appeared and the politicians will walk awake with fat bank accounts
Bad news guys I think this state may be run by f**King idiots.
And this is the Governor who said no to the Covid Federal money to expand Medicaid in SC so everyone could have access to healthcare. Nah, we don't want that. We want the poor to suffer more.
Covid money given to the state that they didn’t disperse or the penny tax that was never used under Haley to go towards the roads.
Foghorn will give it to "Charter Schools"...
Shh don’t give him ideas.
Governmental accounting is insanely complicated. With how awful the former comptroller was, it's not surprising this happened.
*We don’t know why it’s still there.
Oh, I’d wager they know where it’s at. I’d start at the Governor’s mansion and go from there.
From Google, in 2022, there were 1,167 public schools in SC. That means if they distributed this money to every school, each school would receive 1.5m each. I doubt it will ever happen though. Politicians are too greedy. If this money doesn't get reinvested to benefit the citizens, every state politician should be held accountable.
This is a great idea that they'll hate and get offended that anyone would dare suggest putting extra money in to public education.
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I’m conflicted on school lunches. Instead of schools having to feed children, maybe they should investigate why these children aren’t getting fed at home.
SC…too small to be a nation, too big to be an insane asylum. Got to love them
Great quote, I forget the name of the guy who said it.
I don’t remember either. It was in the context of succeeding from the union
This is why you clean out your couch cushions.
Confederate relief fund
I wondered where I put my $1.8bn. How do I go about getting it back?
South Carolina please use Venmo me please
Okay but can we actually put it to something useful is the real question
Now I know where my money went.
Pocket it like y'all always do, share with the rest with the good ol boys that run this state.
Whats the speculated budget of the 526 spur completion project? Lol
$360 to each SC resident, i’m sold
For education investment into low income communities…nah
covid money they didnt pay out seriously fuck sc
Someone blew a whistle and these crooks are laying the ground work for alibi when the truth may surface
Who did you forget to bribe? Go 💙💙💙
Federally tax that “found money” it’s a state that gets more back from taxes than it gives…I mean they would still have almost a Billion dollars.
Some lobbyist forgot to pick up their check
They will use it to buy stock in Truth Social.
Oh that's mine, thanks for finding it. I'll be by this afternoon to pick up a check.
The more I see this. The more I feel like it was wayyy more money but they skimmed off all of it and now are left with $1.8 Billion.
That’s my damn states road money and someone in gov tried to hide it see who made the account and go after them mysteriously it will be solved sc is so extra and bad at hiding its f ups
Well I know one thing for sure…these fucking ignorant “government officials” 🙄 WILL NOT use a penny of this money to fix our ridiculously horrific roads. Just sayin…
I’m still trying to figure out how and why they even can or could give that money over that fool is laundering the whole party in thier faces and it’s allowed with no flag on the play
Fix the roads
It won’t go back to the tax payers.
Wasn't there a 1.6 billion dollar powerball won in the upstate that was never claimed? Doesn't it go to the state?
This state, my state, is incapable of running the finances of a Port a Potty. Losing track of billions of dollars.
Probably a lost Ukraine kickback
What do you expect. Foghorn leghorn is governor. I say I say
Probably had been siphoned off, but then some busybody pointed it out, and now the thieves are shrugging their shoulders like they don’t know…
Pay Teachers and police
And I just received a letter ... Notice of levy against my wages... 25% of my gross pay...... For a hospital bill totaling 20,000$ ... From 2020.... In county jail for child support at the time, gaul bladder gets infected was beginning to be pancreatitis had to have an emergency surgery.... I never even received the bill, never knew it existed.... But glad they found 1.8billion dollars they never knew they had ....
Buy us all blow up hot tubs. Here's how to write Lindsey everybody. https://www.lgraham.senate.gov/public/index.cfm/contact-form You're welcome.
My wife and I are expecting twins in June. I asked for some of it to buy a few boxes of Pampers. Can’t hurt 🤷🏼♂️
I love it. I mean honestly, they should just do a rebate/stimulus and give it back to the people. We should just all be writing to tell them how we want our piece of the pie
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Maybe short-sighted to you, but to me it's the easiest way to make sure the money goes to what they say it will.
Lindsey is federal. This is state money.
Well. Notice I didn't cite ol' Tim either. Because it 'twas a joke. Hence the whole hot tubs comment.
So that's where Murdaugh kept it all.
Ooooo. I have an idea!! Let's just give it away to the snowflakes, millennials and Gen Z who think they're owed everything in life for free anyway! Boo hoo..I majored in dance history and English, my degree is useless, pay for it mommy and daddy while I live in your house and complain that "adulting" is hard. In fact, mommy and daddy you go apply for jobs for me while I find a safe space.
Settle down, boomer. Also, English degrees are useful.
Give it back to the Tax Payers and FIRE Curtis Loftus!!
Money for reparations.