South Carolina Fiscal Statistics

StatisNostics/State Financials/South Carolina
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20122023
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State Revenue Analysis (South Carolina: 2012–2023)

Population: 4,722,621 → 5,190,705 (9.9% change)

Overall Revenue Trends

Total Revenue▲ 95.1%
$23,831,540,000 (2012)→$46,492,854,000 (2023)
Per Capita Revenue▲ 77.5%
$5,046 (2012)→$8,957 (2023)
Fund Balances▼ 100%
$12,095,001,000 (2012)→$0 (2023)
Revenue Volatility✓ Low
Avg. fluctuation: 6.5%

Major Tax Revenue

Property Tax▲ 999%
$8,811,000 (2012)→$96,834,000 (2023)
Sales Tax▲ 75.1%
$2,926,177,000 (2012)→$5,124,195,000 (2023)

Utility Revenue

Water Utilities▲ 10.2%
$6,801,000 (2012)→$7,493,000 (2023)

Growth Analysis

Fastest Growing Revenue Sources

Federal Intergovernmental Health & Hospitals▲ 1287.4%
$283,551,000→$3,933,881,000
Property Tax▲ 999.0%
$8,811,000→$96,834,000
Housing & Community Development Charges▲ 608.5%
$11,024,000→$78,101,000

Declining/Slowest Growing Sources

Toll Highway Charges▼ 99.5%
$7,429,000→$39,000
Local Intergovernmental Public Welfare▼ 94.7%
$223,209,000→$11,800,000
Workers Compensation - Other Contributions▼ 92.0%
$111,939,000→$8,966,000

Revenue Forecast

Projected Revenue (Next Year)▲ 12.9%
Estimated: $52,467,588,415
Based on 3-year revenue trend

Revenue Composition

2012 Revenue Breakdown

Federal Intergovernmental Public Welfare15.5%
Individual Income Tax13.0%
Total General Sales Taxes12.3%
Electric Utilities Revenue7.9%
Hospital Charges7.0%
Federal Intergovernmental Education6.1%
Higher Education Tuition Charges6.1%
Federal Intergovernmental Highways3.7%
Miscellaneous General Revenue Not Elsewhere Classified3.1%
Unemployment - Contribution2.3%
Motor Fuels Sales Tax2.2%
Higher Education Auxiliary Charges1.7%
Interest Earnings1.5%
Net Lottery Revenue1.4%
Other Selective Sales Taxes1.4%
Federal Intergovernmental Other1.3%
Donations From Private Sources1.2%
Federal Intergovernmental Health & Hospitals1.2%
Corporation Net Income Tax1.1%
All Other Not Elsewhere Classified Charges1.0%
Local Intergovernmental Public Welfare0.9%
Motor Vehicle License0.9%
Alcoholic Beverage Sales Tax0.6%
Federal Intergovernmental Housing & Community Development0.6%
Insurance Premium Tax0.6%
Water Transportation & Terminal Charges0.5%
Occupation & Business License Not Elsewhere Classified0.5%
Fines & Forfeits0.5%
Workers Compensation - Other Contributions0.5%
Corporation License Tax0.4%
Local Intergovernmental Education0.3%
Local Intergovernmental Highways0.3%
Federal Intergovernmental Employment Security Administration0.3%
Local Intergovernmental Other0.3%
Rents0.2%
Federal Intergovernmental Other Natural Resources0.2%
Documentary & Stock Transfer Tax0.2%
Amusement Tax0.2%
Education Other State Charges Not Elsewhere Classified0.1%
Tobacco Sales Tax0.1%
Natural Resources Not Elsewhere Classified Charges0.1%
Public Utilities Tax0.1%
Hunting & Fishing License0.1%
Parks & Recreation Charges0.1%
Sale of Property0.1%
Other License Tax0.1%
Housing & Community Development Charges0.0%
Regular Highway Charges0.0%
Federal Intergovernmental Sewerage0.0%
Motor Vehicle Operators License0.0%
Alcoholic Beverage License Tax0.0%
Property Tax0.0%
Toll Highway Charges0.0%
Water Utilities Revenue0.0%
Local Intergovernmental Health & Hospitals0.0%
Workers Compensation - Interest Earnings0.0%
Federal Intergovernmental Water Utilities0.0%
Amusement License Tax0.0%
Federal Intergovernmental Air Transportation0.0%
Parking Facilities Charges0.0%
Air Transportation Charges0.0%
Royalties0.0%
Death & Gift Tax0.0%

2023 Revenue Breakdown

Federal Intergovernmental Public Welfare21.0%
Individual Income Tax12.4%
Total General Sales Taxes11.0%
Federal Intergovernmental Health & Hospitals8.5%
Hospital Charges8.1%
Higher Education Tuition Charges4.5%
Electric Utilities Revenue3.9%
Federal Intergovernmental Education3.9%
Corporation Net Income Tax2.9%
Miscellaneous General Revenue Not Elsewhere Classified2.4%
Motor Fuels Sales Tax2.2%
Federal Intergovernmental Highways1.8%
All Other Not Elsewhere Classified Charges1.5%
Net Lottery Revenue1.4%
Higher Education Auxiliary Charges1.3%
Interest Earnings1.3%
Federal Intergovernmental Other1.2%
Other Selective Sales Taxes1.2%
Water Transportation & Terminal Charges1.0%
Donations From Private Sources0.9%
Federal Intergovernmental Housing & Community Development0.9%
Insurance Premium Tax0.7%
Unemployment - Contribution0.7%
Motor Vehicle License0.7%
Alcoholic Beverage Sales Tax0.5%
Documentary & Stock Transfer Tax0.4%
Occupation & Business License Not Elsewhere Classified0.4%
Corporation License Tax0.4%
Local Intergovernmental Education0.3%
Tobacco Sales Tax0.3%
Local Intergovernmental Highways0.2%
Fines & Forfeits0.2%
Property Tax0.2%
Federal Intergovernmental Employment Security Administration0.2%
Housing & Community Development Charges0.2%
Federal Intergovernmental Other Natural Resources0.2%
Regular Highway Charges0.1%
Parks & Recreation Charges0.1%
Amusement Tax0.1%
Education Other State Charges Not Elsewhere Classified0.1%
Natural Resources Not Elsewhere Classified Charges0.1%
Local Intergovernmental Other0.1%
Public Utilities Tax0.1%
Unemployment - Interest Revenue0.1%
Hunting & Fishing License0.1%
Motor Vehicle Operators License0.0%
Alcoholic Beverage License Tax0.0%
Other License Tax0.0%
Public Utility License Tax0.0%
Federal Intergovernmental Sewerage0.0%
Sale of Property0.0%
Workers Compensation - Interest Earnings0.0%
Local Intergovernmental Public Welfare0.0%
Local Intergovernmental Health & Hospitals0.0%
Workers Compensation - Other Contributions0.0%
Water Utilities Revenue0.0%
Amusement License Tax0.0%
Air Transportation Charges0.0%
Federal Intergovernmental Air Transportation0.0%
Miscellaneous Commercial Activity Not Elsewhere Classified Charges0.0%
Royalties0.0%
Toll Highway Charges0.0%

Key Insights

  1. 1Total revenue increased by 95.1% from 2012 to 2023, representing a significant change in the state's financial position.
  2. 2Population changed by 9.9%, while per-capita revenue changed by 77.5%.
  3. 3The state's fund balances decreased by 100%, suggesting financial challenges or major capital expenditures.
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State Expense Analysis (South Carolina: 2012 - 2023)

Total Expenditure Trends

Operating Expenditures▲ 192%
$10,333,030,000→$30,141,726,000
Per Capita Spending▲ 165%
$2,188→$5,807

Population Trends

Population Change▲ 9.9%
4,722,621 (2012)→5,190,705 (2023)
⚠️ Spending growth significantly outpacing population growth

Public Safety Expenses

Police Protection▲ 108%
$146,317,000 (2012)→$304,085,000 (2023)
Fire Protection▼ 0%
$0 (2012)→$0 (2023)

Infrastructure Expenses

Highways Maintenance▲ 82%
$442,289,000 (2012)→$806,658,000 (2023)
Sewerage Operations▼ 0%
$0 (2012)→$0 (2023)

Administrative Expenses

Financial Administration▲ 379%
$371,246,000 (2012)→$1,776,999,000 (2023)
General Expenses▲ 573%
$216,190,000 (2012)→$1,455,732,000 (2023)

South Carolina Key Insights

  1. 1Police protection spending increased by 108%, significantly outpacing population growth of 9.9%
  2. 2Per capita expenditures grew by 165%, indicating substantial service expansion or cost increases not explained by population growth alone
  3. 3General expenses increased dramatically by 573%, which may indicate classification changes, new initiatives, or reporting adjustments
  4. 4Financial Administration was the fastest growing major expense category at 379% increase
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State Debt Analysis (2012-2023)

Debt Trends

Total Long-Term Debt▲ 35%
$10,984,879,000 (2012)→$14,808,522,000 (2023)
Industrial Revenue Debt▼ 100%
$3,534,818,000 (2012)→$0 (2023)
Per Capita Debt▲ 23%
$2,326 (2012)→$2,853 (2023)

Population Trends

Population Change▲ 9.9%
4,722,621 (2012)→5,190,705 (2023)

Debt Management

Most Recent Year (2023)

Issued:$629,837,000
Retired:$796,391,000
Net Change:$-166,554,000

Debt Retirement Trend

$1,858,303,000 → $796,391,000▼ 57%
🔄 Significant change in retirement strategy detected

Key Insights

  1. 1There appears to be a significant shift in debt management strategy between 2012-2023, with a move toward higher debt levels.