Like other states, South Carolina has several entities that fall into a gray area between the public and private sectors. Known as quasi-public agencies, these entities are not full-fledged arms of state government, and they are not fully independent private operations either. They are legally separate organizations over which the state has no direct control but for which the state is accountable for purposes of financial reporting.
South Carolina’s quasi-public agencies perform a range of vital functions, which include generating electricity, administering the state lottery, and operating the state’s ports. But because quasi-public agencies are self-supporting and do not receive general tax revenues, they are not included in the state budget nor are they included in the state’s central accounting system. Therefore, their expenditures are not available for inclusion in the state spending transparency database.
However, the state obtains audited annual financial statements from the quasi-public agencies to include their net financial position and the results of their operations in the state’s comprehensive annual financial report. The links below provide the audited financial statements for each one.
This page provides a comprehensive registry of South Carolina’s quasi-public agencies and marks another step forward in Comptroller General Richard Eckstrom’s efforts to improve state government’s financial transparency and accountability.