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

For Fiscal Year 2021–2022, the total state budget is $31 billion, of which $9.2 billion is from General Funds:

General Funds            $9,270,619,766

Federal Funds            $9,499,378,927

Other Funds               $12,294,873,070

Total                          $31,064,871,763


Does South Carolina have a rainy-day fund?

Yes. The Constitution of the State of South Carolina requires two "rainy day" funds:

  • General Reserve Fund (S.C. Constitution, Article III, Section 36(A))
  • Capital Reserve Fund (S.C. Constitution, Article III, Section 36(B)).

The General Reserve Fund (GRF) is required to be 5 percent of the General Fund revenues of the most recently completed fiscal year. The GRF may be used to cover a year-end shortfall in General Fund revenue collections. The GRF is fully funded for FY 2021–2022 at $458,961,225.

The Capital Reserve Fund (CRF) is a recurring appropriation that must equal 2 percent of the most recently completed fiscal year’s General Fund revenue. If the GRF is used to cover a year-end General Fund revenue shortfall, then the CRF must be used to replenish the GRF. If no year-end deficit occurs, then CRF may be appropriated by the General Assembly for capital improvements or other nonrecurring (one-time) items in the succeeding fiscal year. For FY 2021–2022, $183,584,490 is set aside for the Capital Reserve Fund.

How many state employees are there?

Full-time equivalent (FTE) positions are appropriated to state agencies in the annual Appropriations Act in the same manner as funds. Below is a summary of the number of authorized FTEs included in the FY 2021–2022 Appropriations Act. Note: Data is as of July 2021 and includes authorized positions which is different than filled positions.

General Funds          36,230.68

Federal Funds            9,061.89

Other Funds              27,035.93

Total                         72,328.50

 

How much of the General Fund is spent on education?

For FY 2021–2022, more than $4.3 billion, or 41.0 percent of the General Fund, is appropriated for educational initiatives in South Carolina. 

The K–12 education General Fund appropriation is $3,545,719,579 for FY 2021–2022. In addition to the General Fund appropriation, one cent of South Carolina's sale tax (or $987,285,024) is earmarked for K–12 education.

The FY 2021–2022 General Fund appropriation for South Carolina's colleges and universities totals $800,452,070.

In addition to the General Fund, appropriations from South Carolina's Education Lottery Account total $597,200,000 for FY 2021–2022. Of this amount, $68,573,318 is earmarked for K–12 education, $528,526,679 is earmarked for higher education, and $100,000 is earmarked for other agencies.