SC ended year with $250M deficit

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SC ended year with $250M deficit

Story Published: Aug 14, 2008 at 7:13 PM EST

Story Updated: Aug 14, 2008 at 7:13 PM EST

COLUMBIA, S.C. (AP) - South Carolina's chief accountant says the
state ended the last fiscal year with a $250.4 million budget hole,
which means grants for hydrogen research, parks and tourism will
not get money.

Other projects unfunded because of the budget gap include
university access to a national fiber optic grid that can carry
high volumes of data at high speed.

State Comptroller Richard Eckstrom says he filled the shortfall
by using $34 million from agencies' surplus funds and $124 million
from the state's reserve account.

Eckstrom says the state now has about $100 million in savings
for the fiscal year that started July 1.

(Copyright 2008 by The Associated Press. All Rights Reserved.)

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