Federal and other funds must be expended before funds appropriated from the general fund of the State, to the extent possible, and any excess balances in accounts resulting from matching fund programs must be remitted to the general fund of the State. Federal or other funds generated by the expenditure of state funds, including refunds from prior year general fund expenditures, must be remitted to the general fund of the State if there is no federal or state requirement governing the specific use of the funds. In order to permit identification of these funds, state agencies shall:
(1) draw down and expend federal and other funds before spending state general fund appropriations whenever possible;
(2) maintain separate accounting records for each grant for cash, revenues, and expenditures to insure a proper audit trail;
(3) reconcile federal and other fund accounts at the end of each state fiscal year and maintain those records for audit purposes;
(4) submit federal financial reports to the grantor agency as required.
State agencies shall remit to the general fund of the State any funds found to exist in agency accounts. If an agency believes funds have been inappropriately identified as the funds defined in this section, the agency may appeal through the process provided in Sections 2-65-30 and 2-65-40. A report of the amount of funds credited to the general fund of the State pursuant to this section must be made by the Comptroller General at the time of each official state revenue forecast. This report must be provided to the Executive Budget Office and the Revenue and Fiscal Affairs Office, the Senate Finance Committee, and the House Ways and Means Committee. Research and student aid grants, including indirect cost recoveries, are exempt from this provision.
HISTORY: 1988 Act No. 658, Part II, Section 37; 2005 Act No. 164, Section 9.
Code Commissioner's Note
At the direction of the Code Commissioner, references in this section to the offices of the former State Budget and Control Board, Office of the Governor, or other agencies, were changed to reflect the transfer of them to the Department of Administration or other entities, pursuant to the directive of the South Carolina Restructuring Act, 2014 Act No. 121, Section 5(D)(1).
Structure South Carolina Code of Laws
Chapter 9 - State Finances Generally
Section 11-9-10. Money to be spent only for purpose or activity specifically appropriated.
Section 11-9-15. Use of state funds for function at club practicing discrimination prohibited.
Section 11-9-20. Disbursing officers exceeding or transferring appropriations.
Section 11-9-30. Transfer of funds upon transfer of personnel.
Section 11-9-40. Statement to General Assembly.
Section 11-9-50. Accounts to be itemized and verified.
Section 11-9-70. Neglect or failure to remit funds.
Section 11-9-80. Fiscal year starts July 1 and ends June 30.
Section 11-9-85. Tax and fee revenues to be calculated on accrual basis.
Section 11-9-95. Transfer of agency funds to pay debts prior to closing books for fiscal year.
Section 11-9-105. Contracts for legal or consultant services.
Section 11-9-115. Certain purchases made by State not subject to fair trade contracts.
Section 11-9-130. Funds for capital improvement projects not on state-owned property.
Section 11-9-220. Debt in excess of appropriation prohibited.
Section 11-9-230 to 11-9-270. Repealed.
Section 11-9-280. Borrowing to pay operating expenses of the State.
Section 11-9-290. Borrowing to maintain balance in general deposit account.
Section 11-9-300. Borrowing to maintain general fund; required cash balance.
Section 11-9-320. Certain payment obligations may be sold to the best advantage of the State.
Section 11-9-330. Expenses of issuance of small denomination notes or other obligations.
Section 11-9-340. Statement of bonded indebtedness in Comptroller General's report.
Section 11-9-360. Governing body issuing bonds to determine interest rate on bonds.
Section 11-9-610. State Fiscal Accountability Authority to manage Sinking Fund; annual report.
Section 11-9-620. Handling of funds.
Section 11-9-630. Sale of property not in actual public use.
Section 11-9-640. Vacant lands grantable only for value.
Section 11-9-650. Payment of purchase price; disposition.
Section 11-9-660. Investment of funds.
Section 11-9-665. Purchase of real property as investments of certain reserve or sinking funds.
Section 11-9-670. Control of securities in which Sinking Fund is invested.
Section 11-9-680. Annual report.
Section 11-9-805. Definitions.
Section 11-9-810. Findings and purpose.
Section 11-9-820. Duties of the office set forth in Subarticles.
Section 11-9-830. Duties of Revenue and Fiscal Affairs Office.
Section 11-9-840. Revenue and Fiscal Affairs Office established.
Section 11-9-860. Assisting with development of annual general appropriations act.
Section 11-9-870. Supplemental staff to assist board; meetings.
Section 11-9-880. Verification by State Treasurer of information relating to that office.
Section 11-9-895. Transfer of funds for execution of subarticle.
Section 11-9-1110. Board of Economic Advisors; membership and appointment; reporting; staffing.