Everything you need to know about ranked-choice voting in one spot. Click to learn more!

South Carolina state budget (2010-2011)

From Ballotpedia
Jump to: navigation, search
Note: This article was last updated in 2011. Click here for more recent information on state budgets and finances.


South Carolina's $5 billion state budget for FY2011 was passed on time and reduced a budget gap for FY2011 [1][2]

South Carolina had a total state debt of $31,097,531,391 when calculated by adding the total of outstanding debt, pension and OPEB UAAL’s, unemployment trust funds and the 2010 budget gap as of July 2010.[3]

2011 State spending & deficit in billions[4]
Total spending Health and protection services Education Econ dev Protection Government Debt service Nat resources
$23.1 $11 $7.8 $1.7 $0.88 $1.1 $0.19 $0.17
2011 Local spending & deficit in billions[5]
Total spending Pension Healthcare Education Welfare Protection Transport Deficit
$21.2 $0 $3.2 $6.8 $0.4 $1.7 $0.6 $22.7

FY2011 State Budget

See also: Archived South Carolina state budgets'\

Find the state’s FY2011 Comprehensive Annual Financial Report (CAFR) compiled by the state government online.[6]

State spending amounted to $1,109 per resident in FY2011, compared to $1,275 for every state resident in the 1999-2000 budget.[7]

Passage of the State Budget

The Senate passed its FY2011 $5 billion budget on April 30, 2010.[8] The House passed its version of the budget on June 3, 2010, and the Senate passed the final compromise on the budget with a 22-16 vote.[9]

Budget background

See also: South Carolina state budget and finances

The South Carolina Budget and Control Board (BCB) was made up of the Governor, the Treasurer, the Comptroller General, the Chairman of the Senate Finance Committee, and the Chairman of the House Ways & Means Committee. Created in 1978, the Executive Director was the chief administrative officer for the Board and served at the pleasure of the five members of the Budget and Control Board. His office was responsible for administration, operation of the Board divisions, and legal matters. Frank Fusco was named the Board's Executive Director on August 15, 2007.[10]

South Carolina's fiscal year begins July 1 and ends June 30 of the following year. Agency budget requests were submitted to the Governor by October, after which the Governor compiles his recommendation for the new fiscal year. Every January the Governor was required to submit an Executive budget to the Legislature containing an itemized plan of proposed expenditures, the amount appropriated for the last preceding appropriating year and for the current year. Following a series of meetings the House and the Senate pass a version of the budget. If both versions did not match a six member conference consisting of both House and Senate members was assembled to sort through the differences. The Governor had final say on the budget and had the power to veto sections. In 1998 the state Supreme Court ruled that the Governor cannot strike individual sentences. A two-thirds majority was needed in both Houses to override the Governor's veto.[11]

  • From 2004 to 2008, the South Carolina legislature's spending increased by 40 percent.[12]
  • FY 2006-07 and FY 2007-08 combined, the General Assembly spent an additional $1.3 billion in surplus revenues.[13]

Budget figures

The following table provides a history of South Carolina's budgeted spending in recent years. Figures were based on the budgets as they were ratified by the legislature, and did not take budget cuts into account:

Fiscal Year Total Expenditures Change from Previous Year
2008 20,858,585,100[14] 2.9%
2007 20,266,849,917[15] 5.3%
2006 19,242,459,434[16] 6.7%
2005 18,033,783,808[16] 7.2%
2004 16,818,721,431[16] 9.0%
2003 15,424,866,119[16] 2.4%
2002 15,060,995,600[16] 2.2%
2001 14,730,477,146[16] 6.1%
2000 13,889,209,525[16] n/a

Accounting principles

The South Carolina State Auditor performs financial audits of state agencies, the annual financial audit of the State's General Purpose Financial Statements, and the annual Single Audit of the State's Schedule of Expenditures of Federal Funds. The audit reports were published online. Richard H. Gilbert, Jr. was Interim State Auditor.[17][18] Richard Eckstrom had served as South Carolina's Comptroller General since 2002.[19][20]

Credit Rating Fitch Moody's S&P
South Carolina[21] AAA Aaa AA+

See also

South Carolina state budget and finances


Footnotes

  1. ↑ The Charleston Regional Business Journal "Sanford veto pen strikes budget 107 times" June 10, 2010
  2. ↑ National Governors Association and National Association of State Budget Officers Fiscal Survey of States June 2010
  3. ↑ State Budget Solutions “States Hide Trillions in Debt” July 22, 2010
  4. ↑ South Carolina Legislature, Executive Budget 2011-2012
  5. ↑ USA Spending, State Guesstimated* Government Spending
  6. ↑ FY 2011 CAFR
  7. ↑ Cite error: Invalid <ref> tag; no text was provided for refs named persist
  8. ↑ The Spartanburg Herald Journal "SC Senate approves budget after 17-hour session" April 30, 2010
  9. ↑ SC Legislature OKs final compromise on $5B budget June 3, 2010
  10. ↑ South Carolina Budget and Control Board Web site, accessed November 11, 2009
  11. ↑ Children's Trust of South Carolina, "Budget Process," accessed March 23,2009
  12. ↑ Wall Street Journal, "Two Governors and the GOP Future," February 20, 2009
  13. ↑ State of South Carolina, "Executive Budget: fiscal years 2009-2010," January 9,2009
  14. ↑ [http://www.scstatehouse.gov/sess117_2007-2008/appropriations2008/tas87.htm South Carolina General Assembly, "H. 4800: General Appropriations Bill for fiscal year 2008-2009"]
  15. ↑ South Carolina General Assembly, "H. 3620: General Appropriations Bill for fiscal year 2007-2008"
  16. ↑ 16.0 16.1 16.2 16.3 16.4 16.5 16.6 Office of State Budget, "Historical budget information for each state agency?" September 13, 2006
  17. ↑ South Carolina Office of the State Auditor Web site, accessed November 11, 2009
  18. ↑ audit reports
  19. ↑ South Carolina Comptroller General Web site, accessed November 11, 2009
  20. ↑ CAFRs
  21. ↑ State of Indiana, “State Credit Ratings-as of June 24, 2009"
Flag of South Carolina
v • e
State of South Carolina
Columbia (capital)
Elections

What's on my ballot? | Elections in 2025 | How to vote | How to run for office | Ballot measures

Government

Who represents me? | U.S. President | U.S. Congress | Federal courts | State executives | State legislature | State and local courts | Counties | Cities | School districts | Public policy

Retrieved from "https://ballotpedia.org/wiki/index.php?title=South_Carolina_state_budget_(2010-2011)&oldid=9185717"