| What is the total amount of South Carolina's state budget? |
|
|
|
 |
For Fiscal Year 2009-2010, the total state budget is $20.7 billion, of which $5.7 billion is from General Funds:
General Funds 5,714.023,234
Federal Funds 7,805,963,626
Other Funds 7,174,920,658
================================
Total $ 20,694,907,518
|
|
|
49.6% of General Funds are appropriated for K-12 and higher education. Health and social rehabilitation agencies received 24.5% of the General Funds appropriated; from all funding sources however, health and social rehabilitation agencies received 43.8%.
(See the attached files for more details.) |
|
|
|
 MS Excel File - Chart - General Funds
MS Excel File - Chart - All Funding Sources
|
|
| What are the sources of General Fund revenue? |
|
|
|
|
Over 84% of South Carolina's General Fund revenue comes from income and retail sales taxes.
(See the attached file for a detailed chart.) |
|
|
|
MS Excel File - Chart - General Fund Revenue Sources
|
|
| Does South Carolina have a rainy day fund? |
|
|
|
|
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The General Reserve Fund balance must equal 3% of General Fund revenue and may be withdrawn only for the purpose of covering operating deficits. If amounts are withdrawn from the Reserve Fund, the South Carolina Constitution provides a schedule for restoring the Reserve within three years.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; however, this balance was eliminated to help offset a year-end deficit. The FY 2009-10 contribution to the General Reserve Fund was $63.9 million, which is the current balance.
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 2008-2009, 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, $127,847,888 was set-aside for the Capital Reserve Fund. |
|
| How many state employees are there? |
|
|
|
|
As of July 2009, authorized positions from all sources of funding totaled 71,590 of which 62,428 were filled:
Source Authorized Filled
General Funds 37,099 32,643
Federal Funds 8,195 7,349
Other Funds 26,296 22,436
==========================================
Total 71,590 62,428
|
|
| How much of the General Fund is spent on education? |
|
|
|
|
For FY 2009-2010, over $2.8 billion, or 49.6% of the General Fund, is appropriated for educational initiatives in South Carolina.
The K-12 education General Fund appropriation is $2,115,037,477 for FY 2009-2010. In addition to the General Fund appropriation, one cent of South Carolina's sale tax (or $532,044,107) is earmarked for K-12 education.
The FY 2009-2010 General Fund appropriation for South Carolina's colleges and universities totals $717,615,003.
Other educational agencies in South Carolina are appropriated $59,779,506 from the General Fund.
**********
In addition to the General Fund, appropriations from South Carolina's Education Lottery Account total $255,000,000 for FY 2008-2009. Of this amount, $49,614,527 is earmarked for K-12 education, $202,385,473 is earmarked for higher education. |
|
|
