South Carolina S 253: Audit Support

Bill Text

2025-2026 Bill 253 Text of Previous Version (Feb. 06, 2025) - South Carolina Legislature Online 

South Carolina General Assembly
126th Session, 2025-2026

Bill 253

Indicates Matter Stricken
Indicates New Matter

(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

Introduced

February 6, 2025

S. 253

Introduced 
by Senators Peeler, Grooms, Alexander, Turner and Young 

S. Printed 2/6/25--H.

Read the first time February 6, 2025

________

A joint resolution

TO PROVIDE AUTHORIZATION FOR THE DEPARTMENT OF 
ADMINISTRATION TO EXPEND CERTAIN FUNDS TO ENGAGE AN INDEPENDENT compliance 
consultant FOR REVIEW OF COMPLIANCE of the office of the state treasurer, the 
Office of the Comptroller General, and the Office of the State Auditor WITH 
RECOMMENDATIONS IN THE ALIXPARTNERS FORENSIC Accounting REPORT and other 
relevant recommendations.

Whereas, 
the General Appropriations Act for Fiscal Year 2024-2025 required the 
Department of Administration to engage a forensic accounting firm, experienced 
in forensic accounting, to conduct a forensic accounting review of all cash and 
investments held in the State Treasury; and

Whereas, 
the General Appropriations Act for Fiscal Year 2024-2025 further required that 
the Office of the State Treasurer work in conjunction with the Department of 
Administration on a plan of implementation to utilize the funds appropriated to 
the Office of the State Treasurer for support of this forensic accounting 
review as would be needed to fully cooperate with the forensic accounting firm, 
subject to review and comment by the Joint Bond Review Committee; and

Whereas, 
the scope of work charged to the forensic accounting firm included making 
recommendations for any corrective entries and actions necessary, along with 
recommendations for procedures and controls to be implemented in the future; 
and

Whereas, 
the Department of Administration awarded the contract for the forensic accounting 
review to AlixPartners LLP of Washington, DC, who has now provided its final 
report to the Governor, the President of the Senate, the Chairman of the Senate 
Finance Committee, the Speaker of the House of Representatives, and the Chairman 
of the House Ways and Means Committee; and

Whereas, 
the report makes a clear recommendation, among others, that an independent 
third party be hired to assess and oversee compliance with all recommendations 
in this report; and

Whereas, 
as of the most recent deadline for submission of agenda items for review by the 
Joint Bond Review Committee, no plan of implementation as required by Proviso 
117.186 of the General Appropriations Act for Fiscal Year 2024-2025 for support 
of the audit has been received from the Office of the State Treasurer. Now, 
therefore,

Be it enacted by the 
General Assembly of the State of South Carolina:

SECTION 1. The 
General Assembly hereby redirects the funding appropriated to the Office of the 
State Treasurer for Audit Support pursuant to Proviso 117.186 of the General Appropriations 
Act for Fiscal Year 2024-2025 to the Department of Administration to be 
utilized to hire an independent compliance consultant to assess and oversee 
compliance with all recommendations in the AlixPartners forensic accounting 
report and other relevant studies conducted in Fiscal Years 2023-2024 and 
2024-2025. Procurements by the Department of Administration made pursuant to 
this section are exempt from the purchasing procedures of the South Carolina 
Procurement Code in Chapter 35, Title 11.

SECTION 2. The 
Office of the State Treasurer, the Office of the Comptroller General, and the 
Office of the State Auditor shall work in concert to effectuate the 
implementation of recommendations made in the AlixPartners forensic accounting 
report and other relevant studies conducted during Fiscal Years 2023-2024 and 
2024-2025 that do not require statutory change. The Office of the State 
Treasurer, the Office of the Comptroller General, and the Office of the State 
Auditor shall begin implementation of these recommendations immediately in 
coordination and with oversight of the Department of Administration. The 
Department of Administration has the authority to request support from any 
agency of the State for the implementation of recommendations and all 
reasonable requests shall be granted. 

SECTION 3. The 
Office of the State Treasurer, the Office of the Comptroller General, and the 
Office of the State Auditor shall provide a monthly written report on the 
status of implementation of the recommendations made to their individual 
agencies to the Governor, the President of the Senate, the Chairman of the 
Senate Finance Committee, the Speaker of the House of Representatives, the Chairman 
of the House Ways and Means Committee, the Department of Administration, and to 
the independent compliance monitor beginning no later than March 31, 2025. The 
independent compliance monitor shall provide review