Wednesday morning, the state Budget and Control Board is meeting and the outcome will be closely watched by legislators concerned about how its agency will be funded.
Senator Glenn McConnell and Finance Chair Hugh Leatherman mused on the Senate floor Tuesday about how the agency came up with $1.4 billion in cash reserves, and roughly $70 million in unrestricted cash now sitting in their bank accounts– according to a statement by the governor this week. Sustained vetoes had supposedly crippled the agency’s operational funds.
The funding under discussion is for the 1100-employee agency that helps to manage and audit other state agencies. Read more about the history of this agency, unique to SC.