South Carolina state officials are determining how to proceed with a $1.8 billion balance discovered in a state account and Republican Gov. Henry McMaster has given leaders a July 1 deadline to chart a course forward.
On Oct. 31, 2023, South Carolina Comptroller General Brian Gaines sent a letter to South Carolina Treasurer Curtis Loftis, directing Loftis to research the account’s origins. It marked the start of a months-long Senate investigation that exposed what a Senate Finance Committee Constitutional Subcommittee report dubbed “financial irregularities” in the state treasurer’s office.
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