State Auditor Resigns

SC State auditor submits resignation to Gov. McMaster, accounting errors

South Carolina State Auditor George Kennedy submitted his letter of resignation to Gov. Henry McMaster's office on Thursday, Jan. 23, ending his nine-year tenure in the role.

This decision comes after an independent forensic audit concluded in mid-January that an accounting blunder had $2 billion sitting inside South Carolina's bank account, an amount that the state will not be able to retrieve or receive those dollars again in a refund.

According to The Associated Press, an independent forensic audit determined that the accounting error was compounded over years instead of being reconciled. Depending on how serious the allegations are, South Carolina could see its borrowing rate rise, be forced to pay fines or face other forms of punishment.

The initial announcement of the mishandling of the money came out on Wednesday, Jan. 15, and a week later, Kennedy's resignation was turned in. According to reports, the accounting error was first reported back in 2018.

According to Republican state Sen. Larry Grooms, who represents the 37th District, investigators will try to determine if this error was a series of mistakes or if state employees knowingly tried to cover up the error.