Eckstrom: SC's surplus $15M less than expected
COLUMBIA, S.C. (AP) — South Carolina's chief accountant says there's no money for nearly $15 million worth of projects approved in the state budget.
Comptroller General Richard Eckstrom said Wednesday the surplus for the fiscal year that ended June 30 was $14.7 million less than the Legislature expected.
After state economic advisers revised their revenue projections for 2011-12, the Legislature designated nearly $400 million of that anticipated surplus within the 2012-13 budget. Those one-time designations were to be funded in the order listed after Eckstrom closes the books for last fiscal year.
The lower-than-anticipated surplus means the bottom part of that list won't get funded. That includes $3 million for infrastructure in rural areas, $500,000 for Arts Commission grants, $1 million for the State Farmers Market, and $200,000 to advertise the Southeastern Wildlife Exposition.