COLUMBIA, S.C. (AP) — It turns out that $1.8 billion in South Carolina state funds weren’t just sitting in a bank account waiting to be spent. Instead, it was an accounting error compounded over years instead of being reconciled, an independent forensic audit determined.

A South Carolina Department of Administration report revealed the origins of a $1.8 billion accounting discrepancy that has puzzled lawmakers and residents alike.

The audit report on the $1.8 billion account largely never existed in the first place. President Biden warns of 'oligarchy' as he bids farewell to five decades in politics I traveled 33 hours to Vietnam but was denied entry because of a common travel mistake I'll never make again California moves to stop predatory sales of fire-stricken homes 8 out of 10 women change their name after marriage—they might not realize the impact it has on their careers,

An audit of South Carolina's state finances finds that the puzzling $1.8 billion account mostly never existed in the first place. The lengthy report, independently done by consulting firm AlixPartners,