State Treasurer Wants to Know How 26 Billion Dollars are Being Spent - WSPA.com

State Treasurer Wants to Know How 26 Billion Dollars are Being Spent

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By Katie Geer

South Carolina may not  be spending 26 billion of taxpayer money wisely. But State Treasurer Curtis Loftis says, he is having a hard time seeing just what is happening with all that money.

He says he isn't being given proper access to the information he needs. Loftis says that the South Carolina Investment Commission restricts what he can see and what he can do with the information they do give him.

According to Loftis, the committee sends the information in PDF's, which only allows him to look at one document at a time, doesn't allow him to mark things on the document, and he isn't able to print the files either.

"I've pretty much rewrote all the documents," Loftis said commenting that some of the documents exceeded 200 pages.

To him, all this is "an old lawyer's trick," saying by giving him the information this way, he stays busy trying to read and understand the documents, but not solving the issue about how the money is being handled.

"Honorable people don't hide things. I don't understand why the commission hides things. If they've got nothing to hide...then give me the information," Loftis said.

The Investment Commission Chairman Reynolds Williams released a statement in regards to the claims by Loftis. 

The Treasurer has full access to every document in the building. Investment contracts, much like procurement contracts, require a certain level of confidentiality, and it is true that no Commissioner is free to take those documents and spread them about town. But the Treasurer can and has seen every page of every document. The Treasurer simply has invented this issue as a political red herring, and that truly is dishonorable,” said Williams. 

The treasury office is putting together a bill that would grant Loftis more access to the information, and put it in a way that he could easily read. 

The bill hasn't been introduced yet because they're still working out the details. 

 

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