South Carolina Budget Development Delayed Due to Accounting Discrepancy
What happened
An $11 million accounting discrepancy in the S.C. Treasurer's Office has created a rift between the office and the state Comptroller General. This issue has caused an indefinite delay in the issuance of financial reports from the 2025-26 fiscal year to state agencies. The Comptroller General's office stated it was actively working to resolve the treasurer’s error and promised further guidance to impacted entities by the end of the week.
From postandcourier.com
Why it matters
The reports are necessary for agencies to receive appropriations confirmation, which their auditors rely upon. This process is critical as agency heads meet with the Executive Budget Office to begin developing Governor Henry McMaster’s final executive budget. The Comptroller General office provides necessary information that informs this executive budget development process.
Governor Henry McMaster holds final authority to sign or veto the state budget in South Carolina.
From postandcourier.com
Who's involved
- Comptroller generalThe office provides necessary information that informs the executive budget development process.
- Henry McMasterGovernor of South Carolina and final authority on the state budget.
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The entities involved
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Comptroller general
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Henry McMaster
American politician (born 1947)