The South Carolina Budget and Control Board was created in 1950 by Reorganization Plan No.2 in 1950 (Act 621 of 1949) which merged 10 boards and commissions to provide a broad array of services to the public sector and administrative and regulatory functions. The Board is composed of the Governor, the State Treasurer, the Comptroller General, the Chairman of the Senate Finance Committee, and the Chairman of the House Ways and Means Committee.
The Budget and Control Board includes many offices such as the Office of the Executive Director which administers divisions such as General Services, State Retirement, and the State IT office. It also includes the Office of the State Auditor, which 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 South Carolina Budget and Control Board ceased existing July 1, 2015, when many of the functions transferred to the Department of Administration and the State Fiscal Accountability Authority.