Taxes and Spending

Cost of investigating mystery $1.8B already overbudget

UPDATE: 1/15/25 - In a 65-page report released late this afternoon, AlixPartners, a New York-based global consulting firm, determined that about $1.6 billion of the mystery $1.8 billion "did not represent real cash." Instead, the approximately $1.6 billion was "incorrectly recorded" to a bank fund as part of a transition years...

Rick Brundrett

Written by
January 15, 2025

  • Cost of investigating mystery $1.8B already overbudget

    UPDATE: 1/15/25 - In a 65-page report released late this afternoon, AlixPartners, a New York-based global consulting firm, determined that about $1.6 billion of the mystery $1.8 billion "did not represent real cash." Instead, the approximately $1.6 billion was "incorrectly recorded" to a bank fund as part of a transition years...
    Rick Brundrett

    Written by
    January 15, 2025

  • Most S.C. municipalities don't livestream regular meetings

    Editor’s note: This is another story in a planned series of stories on livestreaming and other transparency issues affecting local or state government in South Carolina. By RICK BRUNDRETT More than two-thirds of the 271 incorporated towns and cities in South Carolina do not livestream their regular council meetings, The...
    Rick Brundrett

    Written by
    December 17, 2024

  • Low bidders bypassed for state contract to probe mystery $1.8B

    By RICK BRUNDRETT A global consulting firm hired by the state to investigate the mystery $1.8 billion and related financial questions was not the low bidder for the “potential” $3 million contract, records obtained by The Nerve show. But under state law, procurement officials don’t have to accept the lowest...
    Rick Brundrett

    Written by
    September 19, 2024

  • $1.8B mystery could cost SC taxpayers millions to solve

    By RICK BRUNDRETT The S.C. taxpayer tab for outside attorneys and accountants hired in connection with investigations into the mystery $1.8 billion could run up to more than $5 million, records show. And so far, no state agencies are claiming their share of the $1.8 billion, while a state task...
    Rick Brundrett

    Written by
    July 30, 2024

  • Mystery $1.8B task force advised by firm with Trump ties

    By RICK BRUNDRETT Update 7/3/24: Four days after we published this story on a global law firm with experience in federal securities investigations that has advised a state task force on the mystery $1.8 billion, the state issued a formal request for proposals – due by July 9 – to...
    Rick Brundrett

    Written by
    June 20, 2024

  • Governor's secret task force still mum on mystery $1.8B

    By RICK BRUNDRETT A task force created by Gov. Henry McMaster to investigate a mysterious $1.8 billion that reportedly is in a state account has met secretly at least six times in less than two months but hasn’t yet publicly released any specific findings. As The Nerve revealed last month,...
    Rick Brundrett

    Written by
    June 04, 2024

  • The multibillion-dollar state surplus that keeps growing

    Editor’s note: This is the first investigative story in a two-part package on massive state financial accounts. The other story can be found here. By RICK BRUNDRETT S.C. lawmakers don’t talk much publicly about this part of the state’s coffers, though it’s a huge chunk of money. Known as “other”...
    Rick Brundrett

    Written by
    May 20, 2024

  • Secret meetings of governor's task force end run around state law?

    Editor’s note: This is the second investigative story in a two-part package on massive state financial accounts. The other story can be found here. By RICK BRUNDRETT A task force created last month by Gov. Henry McMaster to investigate a reportedly unclaimed $1.8 billion in a state account has met...
    Rick Brundrett

    Written by
    May 20, 2024

  • Unapproved nuke model part of SC 'clean electricity' plan

    By RICK BRUNDRETT S.C. officials want to spend millions of state tax dollars on a new “clean electricity” strategy that includes a type of nuclear technology currently not in use by any U.S. utility, an investigation by The Nerve has found. In recently passing its version of the nearly $41...
    Rick Brundrett

    Written by
    March 26, 2024

  • Bridge, road work in SC still moving slowly with gas-tax-hike money

    By RICK BRUNDRETT In recently announcing his proposed nearly $41 billion total state budget for fiscal 2025, Gov. Henry McMaster recommended using a projected $500 million school-fund surplus for emergency bridge replacement and repairs. “Many of these bridges are 60, 70 and even in excess of 80 years old and...
    Rick Brundrett

    Written by
    January 17, 2024