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Interim Report of Findings and Recommendations on the $1.8 Billion Discrepancy in Treasury Balances and Certain Other Matters
South Carolina. General Assembly. Senate. Finance Committee. Constitutional Subcommittee
South Carolina. General Assembly. Senate. Finance Committee. Constitutional Subcommittee
Abstract
On October 31, 2023, South Carolina Comptroller General Brian Gaines directed Treasurer Loftis to research the origins of a cash balance recorded to SCEIS Fund 30350993 which reflected a balance of approximately $1.8 billion. Treasurer Loftis maintains that he is unable to determine proper ownership of the $1.8 billion. This interim report summarizes the findings and recommendations of the Subcommittee’s investigation of a $1.8 billion discrepancy in SCEIS Fund 30350993. First, this report provides a summary of key issues of principal concern already investigated, followed by a list of key issues that are still under investigation. Secondly, is a detailed account of background information and an accounting of the investigation itself, as well as factual information and findings. Thirdly, the interim report closes with the recommendations at present, but the Subcommittee continues to research and monitor the situation as it progresses and continues.
Issue Date
2024-04-16
Keywords
South Carolina. Office of the State Treasurer--Auditing
Type
Text
Rights
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