SC treasurer won’t take out long-term loans in continued fallout from $1.8B accounting error

By: Jessica Holdman

Outlets: South Carolina Daily Gazette

Published: April 9, 2026

Words: 1,547

Last Updated: 3 months, 3 weeks ago

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COLUMBIA — More than two years after the discovery of a $1.8 billion accounting error within the state’s books, South Carolina’s top banker continues to balk at taking out long-term loans for major construction projects at the state’s three research universities. This leaves the ultimate cost to public colleges — and therefore students and taxpayers — subject to shifts in interest rates.

Treasurer Curtis Loftis has declined to issue what are known as general obligation …

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