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$1.8B mystery deepens as SC lawmakers investigate source of funds

By Tina Terry, wsoctv.com
By Tina Terry, wsoctv.com

YORK COUNTY, S.C. — A nearly $2 billion mystery in South Carolina will take more time to solve.

A new report says it will take a special accounting firm to determine where $1.8 billion found in the state’s bank account came from and what to do with it.

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Channel 9′s Tina Terry spoke to York County Sen. Mike Fanning, who sits on the Senate Finance Committee. He said the state treasurer has made it hard to identify the source of that money, while lawmakers seek help to figure it out.

Some House members are pushing a new bill to make sure that money gets back into the pockets of taxpayers.

Beth Brueneman has been paying attention to the Senate investigation.

“I think they need better accountants,” she said. “That’s ridiculous.”

A finance subcommittee started investigating after they found the money more than two months ago. It was sitting unused in an account.

On Tuesday, the committee released a 100-page report explaining what happened, why, and how to prevent it from happening again. Sen. Fanning told Terry the committee wants to hire a top accounting firm to help determine the origins of the money.

Rep. David O’Neal, who is also from York County, said if the investigation reveals that money came from taxpayers, it should go back to them. He helped sponsor a bill mandating that and hopes it passes this session.

“I think the people probably need it more than the state, especially since they haven’t used it for anything,” O’Neal said. “Whatever they taxed us for wasn’t appropriated properly, so let’s give it back to the citizens.”

O’Neal says the bill could give anywhere from $800 to $1,200 back to taxpayers who filed South Carolina returns in 2023. The details would have to be debated.

Beth Brueneman and her husband want their lawmakers to support the bill.

“Put it in my savings, in my retirement,” she said, adding, “I think people who have put into the funds, if there’s money that wasn’t used, it should come back to them.”

Sen. Fanning said lawmakers have to determine the source of that money before making a decision about where it goes. He said it could be six months before that process plays out.

(WATCH BELOW: SC state accountant and treasurer questioned over the $1.8B in idle funds)

SC state accountant and treasurer questioned over the $1.8B in idle funds


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