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South Carolina lawmakers want to make the state's top financial accountant, called the comptroller general, an appointed position rather than elected. But first they need approval from voters.
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State Sen. Larry Grooms, R-Berkeley, introduced a resolution that directs the state treasurer to freeze $1.8 billion sitting in a state account until lawmakers can sort the money out.
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South Carolina has a new top accountant after a 20-year officeholder resigned amid pressure over a $3.5 billion reporting error. Brian Gaines is now the state comptroller general and will oversee an office that has received mounting scrutiny from lawmakers who want to dismantle its responsibilities. The shakeup comes after former Comptroller General Richard Eckstrom revealed the state's Annual Comprehensive Financial Report had exaggerated cash balances by double counting the money sent to colleges and universities.
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Embattled South Carolina Comptroller General Richard Eckstrom will resign next month after a $3.5 billion accounting error in the year-end financial report he oversaw.
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The legislative fallout over a $3.5 billion accounting blunder by South Carolina's comptroller general took a new turn Tuesday as lawmakers moved to make his job a gubernatorial appointment instead of an elected position.
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In an un-precedented move Wednesday, March 15, a special committee of the State Senate recommended that the General Assembly remove from office Comptroller General Richard Eckstrom for "willful neglect" of duty.
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A panel of South Carolina lawmakers have begun an investigation into a $3.5 billion accounting error first revealed last week. The chair of the Senate Finance subcommittee probing the issue said Thursday that he lost confidence in South Carolina Comptroller General Richard Eckstrom's ability to accurately answer questions about process leading to the state's overstated general fund balance. Eckstrom emphasized the reporting omissions did not impact South Carolina's actual available cash or the General Assembly's budgeting process. Lawmakers still raised concerns about how it arose in the first place and how it might impact the state's credit score. The panel will continue its investigation next week.