Treasurer Loftis' statement on measure to protect taxpayers

Tuesday, June 28, 2011

(Columbia, SC) – Today, State Treasurer Curtis M. Loftis, Jr. issued the following statement on a measure designed to allow follow-ups on audits by the State Auditor and Legislative Audit Council.

We have a great opportunity. With one person’s signature we can introduce transparency and accountability into our government like never before. Let me explain:

Proviso 76.14 (Treasure: Audit Finding Follow-up) originated in the House of Representatives and has wound its way through the complete legislative process and is now awaiting Governor Haley’s signature.

The General Assembly, in my view, has been forward-thinking in it origination and nurturing of this Proviso which allows the State Treasurer’s Office to follow-up on audit findings in state government. At present, there is no one tasked to do so and for that reason important issues are left “hanging”, and therefore never resolved. This Proviso will also allow the Treasurer the ability to recover any amounts due the state.

With the Governor’s signature affixed to this proviso, the General Assembly and the Executive Branch will join together to introduce true accountability, transparency and efficiency into our financial systems. This Proviso, which will be in effect for one year, is the perfect “test drive” of such an initiative, and can be examined next year to ensure that it achieved Governor Haley’s and the General Assembly’s intended purpose.

The Governor and I campaigned together on these issues as we traveled our state. At stump meetings, political gatherings and BBQ’s , we spoke of bringing financial common sense to our state government. We now find ourselves with the tools available to make our campaign promises come true. We only need the Governor’s signature to make this opportunity for service to become reality. I hope Governor Haley will seize this opportunity to further our shared goals of accountability, transparency and efficiency, and sign this groundbreaking Proviso.

-Curtis M. Loftis, Jr.
State Treasurer

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