Budget Update

Current as of February 11, 2010

Dear Colleagues,

The S.C. Board of Economic Advisers met earlier today and left state revenue estimates unchanged for the current year, and therefore will recommend no changes in current state appropriation levels at this time.

Meanwhile, state legislators continue to review both the current year's situation and  next fiscal year projections against the deficits being run in some departments, as well as the state’s growing debt to the federal government for unemployment benefits paid to state citizens.

We will keep you apprised regarding key developments as this process moves forward.

Sincerely,

Tony DiGiorgio