|
South Carolina ends fiscal year with higher-than-expected $68M surplus
 If South Carolina would just elect a few Dems, they could take care of that problem.[POSTANDCOURIER] South Carolina ended the fiscal year with a higher-than-expected surplus, handing politicians an additional $68 million to distribute next year. The fiscal-year closing report issued Wednesday by the state's chief accountant shows South Carolina collected more than enough taxes to fund every item on the Legislature's priority list for surplus revenue, as well as the full $50 million for bridge repair. "The results of what we closed out support that economic conditions look strong for the state," Comptroller Richard Eckstrom told The News Agency that Dare Not be Named on Friday. "Operating conditions look pretty sound." He noted the $6.2 billion "spent" in the year that ended June 30 included $282 million set aside in a rainy-day fund, which represents 5 percent of the prior year's general fund revenues. That's more than politicians were required to have in the reserve account. A constitutional amendment approved by voters in 2010 allowed politicians to incrementally increase the reserves, but politicians hit the 5 percent mark two years ahead of schedule. Posted by: Fred 2013-09-02 |
| http://www.rantburg.com/poparticle.php?ID=375072 |