South Carolina Discovers $1.8 Billion in Mysterious State Account, Raising Questions Over Past Financial Management

South Carolina has $1.8 billion in a bank account from an unknown source that accountants are still working to identify
The error likely started when the state switched computer systems in the 2010s, leading to shifted money to balance irregular books
Elected Treasurer Curtis Loftis invested the money and made $200 million interest but didn't inform the legislature
Loftis and Comptroller General Brian Gaines offices have poor communication and are blaming each other for the accounting mistake
South Carolina has a history of state financial confusion dating back to the 1800s, but legislators want to identify the source before spending the $1.8 billion