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| What is the total amount of South Carolina's state budget? |
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For Fiscal Year 2007-2008, the total state budget is $20.3 billion, of which $6.7 billion is from General Funds:
General Funds 6,722,195,635
Federal Funds 6,875,615,240
Other Funds 6,667,960,292
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Total $ 20,265,771,167
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48% of General Funds are appropriated for K-12 and higher education. Health and social rehabilitation agencies received 25% of the General Funds appropriated; from all funding sources however, health and social rehabilitation agencies received 41%.
(See the attached files for more details.) |
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 PDF File - Chart-General Funds
PDF File - Chart-All Funding Sources
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| What are the sources of General Fund revenue? |
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Over 88% of South Carolina's General Fund revenue comes from income and retail sales taxes.
(See the attached file for a detailed chart.) |
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PDF File - Chart-General Fund Revenue Sources
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| Does South Carolina have a rainy day fund? |
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Yes, South Carolina has two "rainy day" funds:
The General Reserve Fund balance must equal 3% of General Fund revenue and may be withdrawn only for the purpose of covering operating deficits. If amounts are withdrawn from the Reserve Fund, the South Carolina Constitution provides a schedule for restoring the Reserve within three years. The FY 2006-07 ending balance was $167.7 million. The FY 2007-08 appropriation to the General Reserve Fund is $19.0 million for a projected ending balance of $186,780,797.
The Capital Reserve Fund (CRF) is a recurring appropriation that must equal 2% of General Fund revenue. If a year-end deficit is forecast, the CRF is reduced to the extent necessary before mandating operating reductions. If no year-end deficit is projected, the CRF may be appropriated in separate legislation for capital improvements or nonrecurring projects. The FY 2007-08 Capital Reserve Fund appropriation is $124,520,532. |
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| How many state employees are there? |
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As of July 2007, authorized positions from all sources of funding totaled 71,284 of which 62,916 were filled:
Source Authorized Filled
General Funds 37,420 33,247
Federal Funds 8,087 6,932
Other Funds 25,777 22,737
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Total 71,284 62,916
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| How much of the General Fund is spent on education? |
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For FY 2007-2008, over $3.2 billion, or 48% of the General Fund, is appropriated for educational initiatives in South Carolina.
The K-12 education General Fund appropriation is $2,315,930,459 for FY 2007-2008. In addition to the General Fund appropriation, one cent of South Carolina's sale tax (or $690,236,203 for FY 2007-2008) is earmarked for K-12 education.
The FY 2007-2008 General Fund appropriation for South Carolina's colleges and universities totals $893,548,334.
Other educational agencies in South Carolina are appropriated $76,925,874 from the General Fund.
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In addition to the General Fund, appropriations from South Carolina's Education Lottery Account total $266,400,000 for FY 2007-2008. Of this amount, $49,614,527 is earmarked for K-12 education, $208,185,473 is earmarked for higher education. |
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