By james art 
“I assume that I am untrue for legislators about the existence of funds is not only inaccurate, but it is irresponsible …”
from Curtis Loftis
Unfortunately, rumors of mysterious bank accounts, phantom money, and now the theories of conspiracy are unnecessary to make titles and sounds in the media landscape of the state with little attention to how these insufficient accusations will affect the financial stability of South Carolina. Not only the titles are not incorrect, the consequences are real. I have long argued that this issue and the negative media coverage that it has acquired in the last two years can harm our country’s arched credit rating and affect our ability to issue debt on behalf of the state and its agencies. If this happens, it is a self -inflicted wound by those who penetrate their own political programs against the protection of voters who put them in office. For me and many of my colleagues, their actions are a serious violation of the trust of society.
The claim that my office has failed to disclose critical information for years is firmly false. Transparency has been and continues to be the cornerstone of my administration. Thehe $ 1.8 billion The introduction of conversion was shared by several agencies, not an isolated failure of the state cashier. The General Controller, the State Auditor and the Foreign Audit Company of the State agreed to treat this conversion. From the moment the concerns arose, my team acted quickly and within legal parameters to address them. To suggest otherwise, ignores the joint nature of state financial supervision and unfairly assigns guilty to systemic problems.
If a person read the alixpartners report (.pdf) there was 25 Recommendations – 17 This focuses on the office of the General Controller, one for the only cashier and several recommendations for the state partners and the legislature were shared. Our recommendation calls for monetary report automation.
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Connected | The lack of $ 1.8 billion does not exist?
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As a state disclosure employee, I am managed by numerous state and federal provisions and I take this responsibility very seriously. I will not violate the law. Suppose that I am untrue for legislators about the existence of funds is not only inaccurate, but it is irresponsible. We had opinions from the General Controller, the State Auditor and the Foreign Audit Company of the State that these funds are common funds. Given this information and more, more consulting with the official composition book (SCEI) record, my team generates the profit figure based on the daily rate available and I responded with this information when asked by a senator. To make it clear, the state -owned cashier and invests all the money available in his custody.
The state -owned cashier is charged with managing billions of dollars in public funds on a daily basis, ensuring that taxpayer dollars work to generate a return for vital services such as education, infrastructure and public safety. This efforts have contributed to the financial stability of South Carolina and increased credit ratings, taking advantage of all citizens. Attempting to distort this recording with Out-Context SoundBites does a public service. Again politics over people.
Last spring I initiated calls for external audit to determine if $ 1.8 billion It really was money. I also asked for the assistance of the governor, and this cooperation led to the creation of a working group dedicated to resolving this issue.
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The Alixpartners report emphasizes the need for stronger internal processes – something I supported. My office has repeatedly advocated for upgraded accounting systems and a more intersial cooperation to prevent future discrepancies. Our team is eagerly awaiting these improvements and a greater sense of cooperation between state agencies.
However, the proposal, however, that South Carolina must appoint, not choose, her state cashier is not only misled, but an insufficient model that will be detrimental to South Carolina citizens. The appointed state cashier will respond to special interests, not directly to people. I remain responsible to the voters, guaranteeing that their votes lead the management of the finances of our country.
I am grateful to South Carolina citizens for the first time I was chosen in 2010 and since then the state cashier has achieved significant successes that have taken advantage of the people of South Carolina. Most importantly, we have defended and increased the state’s investment portfolio, ensuring that South Carolina’s financial resources are sure and give a strong return.
The South Carolina people deserve a state cashier who puts their interests in the first place-someone who is not afraid to face the challenges and stands for reforms that are beneficial to all. I stand by my record and will continue to serve with integrity and accountability. To me, these are people above politics, not the other way around.
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For the author …
Curtis Loftis is a cashier of South Carolina.
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