09/25/2026
🚨 ANOTHER ACCOUNTING PROBLEM AT THE SOUTH CAROLINA TREASURER’S OFFICE
📊 The Post and Courier reports that an $11 million discrepancy involving South Carolina’s Capital Reserve Fund contributed to delays in annual financial reporting for state agencies.
Comptroller General Brian Gaines attributed the delay to the Treasurer’s Office not providing a complete, accurate, and timely reconciliation.
💰 This comes after the much larger $1.8 billion accounting controversy involving Treasurer Curtis Loftis’ office.
The article reports that forensic audits issued in 2025 placed responsibility for that accounting error on the Treasurer’s Office.
The South Carolina Senate later voted to remove Loftis from office, although the House did not take a corresponding removal vote.
Loftis has disputed conclusions about his responsibility and has maintained that state money was never missing or stolen.
🔎 Vincent Coe is the Democratic nominee challenging Curtis Loftis for South Carolina State Treasurer this November.
Coe’s campaign is proposing a public report every month covering the accounts, investments, and fees overseen by the Treasurer’s Office, along with quarterly reporting designed to identify problems earlier.
📖 Read the full Post and Courier report:
https://www.postandcourier.com/politics/carolina-loftis-gaines-treasurer-audit-report/article_062caae5-00ad-4d52-93af-41090b48dd55.html
🌐 Learn more about Vincent Coe:
https://vincentforsc.com/
South Carolina Comptroller General Brian Gaines delayed releasing financial reports due to an error by Treasurer Curtis Loftis, whose office accused the agency of exaggerating the issue.