South Carolina
| South Carolina owes more than it owns. |
| South Carolina has a -$8,100 Taxpayer Burden.™ |
| South Carolina is a Sinkhole State without enough assets to cover its debt. |
| Elected officials have created a Taxpayer Burden™, which is each taxpayer's share of state bills after its available assets have been tapped. |
| TIA's Taxpayer Burden™ measurement incorporates both assets and liabilities, not just pension debt. |
| South Carolina only has $36.7 billion of assets available to pay bills totaling $51 billion. |
| Because South Carolina doesn't have enough money to pay its bills, it has a -$14.3 billion financial hole. To fill it, each South Carolina taxpayer would have to send -$8,100 to the state. |
| South Carolina's reported net position is overstated by $447.4 million, largely because the state delays recognizing losses incurred when the net pension liability increases. |
| The state's financial report was released 241 days after its fiscal year end, which is considered untimely according to the 180 day standard. |
Prior Years' TIA Reports
2023 Financial State of South Carolina
2022 Financial State of South Carolina
2021 Financial State of South Carolina
2020 Financial State of South Carolina
2019 Financial State of South Carolina
2018 Financial State of South Carolina
2017 Financial State of South Carolina
2016 Financial State of South Carolina
2015 Financial State of South Carolina
2014 Financial State of South Carolina
2013 Financial State of South Carolina
2012 Financial State of South Carolina
2011 Financial State of South Carolina
Other Resources
South Carolina Annual Comprehensive Financial Reports
Publishing Entity: South Carolina Comptroller General
