| What is the total amount of South Carolina's state budget? |
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For Fiscal Year 2010-11, the total state budget is $21.1 billion, of which $5.1 billion is from General Funds:
General Funds 5,080,373,895
Federal Funds 8,267,948,216
Other Funds 7,765,618,221
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Total $ 21,113,940,332
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47.2% of General Funds are appropriated for K-12 and higher education. Health and social rehabilitation agencies received 23.8% of the General Funds appropriated; from all funding sources however, health and social rehabilitation agencies received 43.6%.
(See the attached files for more details.) |
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 MS Excel File - Chart - General Funds
MS Excel File - Chart - All Funding Sources
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| What are the sources of General Fund revenue? |
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Over 83% 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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MS Excel 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The General Reserve Fund balance must equal 3% of General Fund revenue and may be withdrawn only for the purpose of covering operating deficits. If amounts are withdrawn from the Reserve Fund, the South Carolina Constitution provides a schedule for restoring the Reserve within three years. For Fiscal Year 2008-2009, the General Reserve had a balance of $108.1 million; but this balance was eliminated to help offset a year-end deficit. The General Reserve Fund contributions were $110,883,455 for FY 2009-10 and $55,441,728 million for FY 2010-11. The General Reserve Fund is currently fully funded with a balance of $166,325,183.
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. For Fiscal Year 2009-2010, the Capital Reserve Fund had a balance of $133,170, 058, but this balance was eliminated to help offset a year-end deficit. For FY 2009-2010, the Capital Reserve Fund had a balance of $127,847,888, but this balance was eliminated to help offset mid-year revenue shortfalls. For FY 2010-11, $110,883,455 is set- side for the Capital Reserve Fund. |
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| How many state employees are there? |
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As of July 2010, authorized positions from all sources of funding totaled 71,590 of which 60,504 were filled:
Source Authorized Filled
General Funds 37,099 30,405
Federal Funds 8,195 7,472
Other Funds 26,296 22,626
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Total 71,590 60,504
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| How much of the General Fund is spent on education? |
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For FY 2010-2011, over $2.4 billion, or 47.2% of the General Fund, is appropriated for educational initiatives in South Carolina.
The K-12 education General Fund appropriation is $1,831,503,698 for FY 2010-2011. In addition to the General Fund appropriation, one cent of South Carolina's sale tax (or $522,234,107) is earmarked for K-12 education.
The FY 2010-2011 General Fund appropriation for South Carolina's colleges and universities totals $568,870,814.
Other educational agencies in South Carolina are appropriated $47,794,724 from the General Fund.
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In addition to the General Fund, appropriations from South Carolina's Education Lottery Account total $255,716,300 for FY 2010-2011. Of this amount, $49,814,527 is earmarked for K-12 education, $205,901,773 is earmarked for higher education. |
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