Palmetto State News

Governor Henry McMaster addressed the findings of an independent State Treasury Forensic Accounting Review. The report clarifies that there is no $1.8 billion surplus and no funds are missing or stolen.

The review highlights unintended accounting mistakes made during the transition from an old to a new accounting system by various parties involved in state government.

Governor McMaster expressed confidence that the recommended corrective measures will be adopted by all parties and the General Assembly to prevent future occurrences.

"This comprehensive forensic accounting report confirms that there is no $1.8 billion surplus. There is no missing or stolen money. The funds do not exist," stated Governor McMaster.

He added, "It also confirms that there were unintended accounting mistakes made by different parties involved in state government’s transition from an old accounting system to the new accounting system."

Governor McMaster concluded, "I am confident that the corrective measures recommended in the report will be embraced by the parties and the General Assembly so that this does not happen again."