Financial oversight board gets DOT cash briefing

COLUMBIA, S.C. (AP) — South Carolina’s financial oversight board plans to discuss financial problems the Department of Transportation is facing.

The Budget and Control Board plans to discuss agency’s cash flow problems Tuesday. State Treasurer Curtis Loftis wants the board to require the transportation department to give a detailed report next month.

Legislators are reviewing what needs to be done to change state law after reports this summer that the DOT had run short on cash and was delaying bill payments.

It is required to pay bills within 30 working days. But some bills were more than 60 days overdue.

The agency blamed that on flawed cash flow management and contractors doing work faster than expected and getting reimbursed earlier.