Executive Budget Office

Frequently Asked Questions

What is the total amount of South Carolina's state budget?

For Fiscal Year 2016-17, the total state budget is $26.3 billion, of which $7.5 billion is from General Funds:

 

General Funds   $7,579,528,892
Federal Funds   $8,359,343,259
Other Funds $10,398,149,392
Total $26,337,021,543

 

How is the money spent?

45.8% of General Funds are appropriated for K-12 and higher education. Health and social rehabilitation agencies received 26.5% of the General Funds appropriated; from all funding sources however, health and social rehabilitation agencies received 38.4%. (See the attached file for a detailed chart.)

 

What are the sources of General Fund revenue?

Over 89% of South Carolina's General Fund revenue comes from income and retail sales taxes. (See the attached file for a detailed chart.)

 

Does South Carolina have a rainy day fund?

Yes, South Carolina has two "rainy day" funds:

The General Reserve Fund is required to be 5% of the revenues of the most recently completed FY.  for FY2014-15, 5% of revenues is $348,019,473.  The General Reserve Fund is fully funded for FY2016-17.

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 FY2016-17, $139,207,789 is set aside for the Capital Reserve Fund.

 

How many state employees are there?

As of July 2016.  Note:  Data includes authorized positions which is different than filled.

 

Source Authorized  
General Funds 34,443.87  
Federal Funds   8,210.86  
Other Funds 24,956.65  
Total 67,611.38  

 

How much of the General Fund is spent on education?

For FY 2016-2017, over $3.4 billion, or 45.8% of the General Fund, is appropriated for educational initiatives in South Carolina.
 
The K-12 education General Fund appropriation is $2,873,002,961 for FY 2016-2017. In addition to the General Fund appropriation, one cent of South Carolina's sale tax (or $751,585,000) is earmarked for K-12 education.
 
The FY 2016-2017 General Fund appropriation for South Carolina's colleges and universities totals $601,398,971.
 
 
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In addition to the General Fund, appropriations from South Carolina's Education Lottery Account total $377,371,234 for FY 2016-2017. Of this amount, $27,322,432 is earmarked for K-12 education, $348,098,811 is earmarked for higher education, and $1,950,000 is earmarked for other agencies.