NEWS RELEASE: Loftis Calls for Independent Audit
For Immediate Release: Thursday, April 22,2010
Media Contact: Curtis Loftis, 803-936-9046
LOFTIS CALLS FOR INDEPENDENT AUDIT IN LIGHT OF MISSING FUNDS
WEST COLUMBIA, SC – One week ago, the state Board of Economic Advisors disclosed that $60 million was missing from the state’s general fund because of errors within the State Treasurer’s office.
In response, Republican candidate for State Treasurer Curtis Loftis called for an emergency audit. Loftis also called on current State Treasurer Converse Chellis to immediately release all emails to the public between his office and the Department of Revenue.
For the past week, the State Treasurer’s Office has remained silent and has failed to call for an emergency audit, even though $60 million went missing from the general fund.
Today, Loftis issued the following statement:
“Our current State Treasurer is in a state of denial. It is unacceptable for the State Treasurer to give taxpayers the silent treatment. His silence and lack of personal responsibility on the matter is a disservice to South Carolina taxpayers.”
“The lack of oversight in the State Treasurer’s Office is inexcusable and will cause nearly $60 million in budget cuts.”
“The people of South Carolina deserve a response as to how these funds went missing and why it has been 22 months since the Treasurer’s Office was last audited.”
“The Treasurer’s Office should be the first in line for an annual audit. South Carolina taxpayers are shareholders in one of the world’s 100 largest economies. If state government was run like a corporation, two things would happen. The first is there would be an immediate audit. The second is that the CFO would probably be fired, because there is no excuse for $60 million to go missing without a shred of accountability.”
“Since the State Treasurer’s Office was last audited on June 30, 2008, approximately 40 billion dollars has flowed through the office. There is no excuse for this lack of accountability or responsibility.”
“For too long, taxpayers have been left in the dark. Frankly, it’s time for some sunlight to disinfect state government.”
“As State Treasurer, I will treat state government like a business and start the audit process on day one.”
“However, I will not hold my breath as it is clear the State Treasurer prefers to neglect his personal responsibility to the state’s taxpayers and continue to give us the silent treatment.”
For more information, please visit www.CurtisLoftis.com