State officials keep $3.9B to themselves

Rick Brundrett
Posted 10/31/19

State officials rarely talk about a hidden $3.9 billion of tax dollars and fees.

As they prepare their proposed 2020-21 spending plans, what they likely won’t reveal is nearly $3.9 billion in …

This item is available in full to subscribers.

Subscribe to continue reading. Already a subscriber? Sign in

Get 50% of all subscriptions for a limited time. Subscribe today.

You can cancel anytime.
 

Please log in to continue

Log in

State officials keep $3.9B to themselves

Posted

State officials rarely talk about a hidden $3.9 billion of tax dollars and fees.

As they prepare their proposed 2020-21 spending plans, what they likely won’t reveal is nearly $3.9 billion in unspent funds.

That’s about $752 for every man, woman and child in the state.

Other funds include fees, fines, college tuition, lottery proceeds, state gasoline taxes and part of the state sales tax for K-12 education.

That’s nearly $12 billion or about 40% of the state’s $30 billion planned spending this fiscal year including $9.2 billion in state and $8.8 billion in federal funds.

Comptroller General Richard Eckstrom reported state agencies had $431.9 million in general fund reserves at the start of this fiscal year.

Lawmakers have been squirreling away plenty of money for their expenses.

The Senate had reserves of $726,713 and the House $247,024 at the end of last fiscal year on top of massive general-fund surpluses – $23.4 million for the House and $5.2 million for the Senate.

Few surpluses are ever refunded to SC taxpayers. But this fiscal year, lawmakers designated $61.4 million from a lottery jackpot to be returned to eligible taxpayers. $50 refund checks will be mailed Dec. 2.

Gas tax promise goes unfulfilled

The Department of Transportation easily leads all state agencies with $1 billion in surplus funds.

That’s up $685.3 million since the end of fiscal 2015.

It’s not clear if the $1 billion surplus includes reserves created with the gas-tax-hike law of 2017.

DOT spokesman Pete Poore did not respond to written questions.

DOT has spent little from the $451.7 million fund.

That’s 54.5% of the $828.1 million in revenues under the gas-tax-hike law which raised the state gas tax 12 cents a gallon over 6 years and raised other vehicle taxes and fees.

Lawmakers promised the higher gas tax and fees would be used to fix crumbling roads and bridges. But relatively few major road repair or reconstruction projects have been completed.

Brundrett is news editor of The Nerve. Contact him at 803-254-4411 or rick@the-nerve.org .

Comments

No comments on this item Please log in to comment by clicking here