South Carolina Fiscal Statistics

StatisNostics/State Financials/South Carolina

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20122021

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State Revenue Analysis (South Carolina: 2012–2021)

Population: 4,722,621 → 5,148,714 (9.0% change)

Overall Revenue Trends

Total Revenue▲ 54.8%

$23,831,540,000 (2012)→$36,902,787,000 (2021)

Per Capita Revenue▲ 42%

$5,046 (2012)→$7,167 (2021)

Fund Balances▲ 82.3%

$12,095,001,000 (2012)→$22,054,576,000 (2021)

Revenue Volatility✓ Low

Avg. fluctuation: 5.1%

Major Tax Revenue

Property Tax▲ 796.3%

$8,811,000 (2012)→$78,975,000 (2021)

Sales Tax▲ 42%

$2,926,177,000 (2012)→$4,154,363,000 (2021)

Utility Revenue

Water Utilities▲ 33.4%

$6,801,000 (2012)→$9,075,000 (2021)

Growth Analysis

Fastest Growing Revenue Sources

Federal Intergovernmental Other Natural Resources▲ 1342.3%

$45,146,000→$651,140,000

Property Tax▲ 796.3%

$8,811,000→$78,975,000

Regular Highway Charges▲ 719.4%

$9,642,000→$79,004,000

Declining/Slowest Growing Sources

Local Intergovernmental Public Welfare▼ 94.4%

$223,209,000→$12,421,000

Federal Intergovernmental Air Transportation▼ 91.6%

$1,373,000→$115,000

Workers Compensation - Other Contributions▼ 91.1%

$111,939,000→$9,996,000

Revenue Forecast

Projected Revenue (Next Year)▲ 9.2%

Estimated: $40,296,206,085

Based on 3-year revenue trend

Revenue Composition

2012 Revenue Sources

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%

2021 Revenue Sources

Federal Intergovernmental Public Welfare20.4%

Individual Income Tax14.8%

Total General Sales Taxes11.3%

Hospital Charges6.7%

Higher Education Tuition Charges5.4%

Electric Utilities Revenue4.3%

Federal Intergovernmental Education4.3%

Federal Intergovernmental Health & Hospitals4.0%

Miscellaneous General Revenue Not Elsewhere Classified3.0%

Motor Fuels Sales Tax2.3%

Corporation Net Income Tax2.0%

Federal Intergovernmental Highways1.9%

Net Lottery Revenue1.8%

Federal Intergovernmental Other Natural Resources1.8%

All Other Not Elsewhere Classified Charges1.7%

Other Selective Sales Taxes1.5%

Federal Intergovernmental Other1.4%

Higher Education Auxiliary Charges1.3%

Interest Earnings1.2%

Water Transportation & Terminal Charges0.8%

Motor Vehicle License0.8%

Insurance Premium Tax0.7%

Unemployment - Contribution0.7%

Alcoholic Beverage Sales Tax0.6%

Donations From Private Sources0.5%

Documentary & Stock Transfer Tax0.5%

Occupation & Business License Not Elsewhere Classified0.5%

Federal Intergovernmental Housing & Community Development0.5%

Corporation License Tax0.4%

Fines & Forfeits0.4%

Local Intergovernmental Education0.3%

Federal Intergovernmental Employment Security Administration0.3%

Local Intergovernmental Highways0.3%

Regular Highway Charges0.2%

Property Tax0.2%

Parks & Recreation Charges0.1%

Amusement Tax0.1%

Local Intergovernmental Other0.1%

Natural Resources Not Elsewhere Classified Charges0.1%

Tobacco Sales Tax0.1%

Public Utilities Tax0.1%

Education Other State Charges Not Elsewhere Classified0.1%

Unemployment - Interest Revenue0.1%

Other License Tax0.1%

Hunting & Fishing License0.1%

Housing & Community Development Charges0.1%

Alcoholic Beverage License Tax0.0%

Federal Intergovernmental Sewerage0.0%

Public Utility License Tax0.0%

Sale of Property0.0%

Local Intergovernmental Public Welfare0.0%

Workers Compensation - Interest Earnings0.0%

Workers Compensation - Other Contributions0.0%

Water Utilities Revenue0.0%

Toll Highway Charges0.0%

Federal Intergovernmental Water Utilities0.0%

Local Intergovernmental Health & Hospitals0.0%

Amusement License Tax0.0%

Motor Vehicle Operators License0.0%

Miscellaneous Commercial Activity Not Elsewhere Classified Charges0.0%

Royalties0.0%

Air Transportation Charges0.0%

Federal Intergovernmental Air Transportation0.0%

Key Insights

1Total revenue increased by 54.8% from 2012 to 2021, representing a significant change in the state's financial position.
2Population changed by 9.0%, while per-capita revenue changed by 42.0%.
3The state's fund balances increased by 82.3%, suggesting improved fiscal health.

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State Expense Analysis (South Carolina: 2012 - 2021)

Total Expenditure Trends

Operating Expenditures▲ 50%

$10,333,030,000→$15,509,873,000

Per Capita Spending▲ 38%

$2,188→$3,012

Population Trends

Population Change▲ 9%

4,722,621 (2012)→5,148,714 (2021)

⚠️ Spending growth significantly outpacing population growth

Public Safety Expenses

Police Protection▲ 20%

$0 (2012)→$0 (2021)

Fire Protection▼ 0%

$0 (2012)→$0 (2021)

Infrastructure Expenses

Highways Maintenance▲ 36%

$0 (2012)→$0 (2021)

Sewerage Operations▼ 0%

$0 (2012)→$0 (2021)

Administrative Expenses

Financial Administration▼ 16%

$0 (2012)→$0 (2021)

General Expenses▲ 378%

$0 (2012)→$0 (2021)

South Carolina Key Insights

1General expenses increased dramatically by 378%, which may indicate classification changes, new initiatives, or reporting adjustments

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State Debt Analysis (2012-2021)

Debt Trends

Total Long-Term Debt▼ 1%

$10,984,879,000 (2012)→$10,889,322,000 (2021)

Industrial Revenue Debt▼ 49%

$3,534,818,000 (2012)→$1,796,085,000 (2021)

Per Capita Debt▼ 9%

$2,326 (2012)→$2,115 (2021)

Population Trends

Population Change▲ 9%

4,722,621 (2012)→5,148,714 (2021)

Debt Management

Most Recent Year (2021)

Issued:$464,032,000

Retired:$1,339,166,000

Net Change:$-875,134,000

Debt Retirement Trend

$1,858,303,000 → $1,339,166,000▼ 28%