SC finishes fiscal year with $123 million surplus

COLUMBIA, S.C. (AP) — South Carolina finished its fiscal year in July with a $123 million surplus.

A report from Comptroller General Richard Eckstrom released late Friday shows that surplus came after the state covered a $222 million shortfall in the state’s Medicaid program.

The surplus was expected as South Carolina’s economy began to recover from the recession.

Eckstrom says the state still needs to be cautious with spending because the economy’s course is uncertain. He says legislators should look for ways to cut non-essential state spending and add money to the state’s reserve accounts.