Cities, counties, schools wrestle with budget woes Local schools and governmental bodies are scrambling to figure out how they will manage with less state revenue. On the heels of a 3 percent budget cut in August, state officials announced this past week that the state will have to do without an additional 6 percent. The state's Board of Economic Advisers said Wednesday that escalating fuel and food prices, sagging home sales, slumping home values and a shaky job market are to blame. … [Read more...]

Painful S.C. budget cuts may extend to schools, law enforcement efforts Specialist Justin Bohan holds his head as he works at his post on the floor of the New York Stock Exchange, Thursday Oct. 9, 2008. Stocks plunged in the final minutes of trading Thursday, sending the Dow Jones industrials down more than 675 points, or more than 7 percent. Cutting high school sports, conservation efforts and crimes investigated by state law enforcement are all possibilities in the looming South Carolina … [Read more...]

Legislators must make total of $554 million in cuts South Carolina is facing a half-billion budget hole, after state economists reduced revenue estimates for the second time since July. The state Board of Economic Advisors reduced its revenue estimate by 6 percent Wednesday, which followed a 2 percent cut in July. Those two reductions total $554 million from the budget year that began July 1, and mean an additional $210 million in cuts and savings are needed to balance the now $6.7 billion … [Read more...]

State's financial situation will become more clear after budget forecasters meet today The way things looked Tuesday had state Senate President Pro Tem Glenn McConnell thinking it's likely the Legislature will be back in session before Election Day. Any decision on when legislators could return to the Statehouse will be more concrete after today when South Carolina's budget forecasters meet to assess the state's financial situation. The Board of Economic Advisors likely will drop expected … [Read more...]