$120M in cuts expected
COLUMBIA -- The long recession is cutting more money from state revenues and is expected to force spending cuts of nearly $120 million from schools, colleges and prisons.
The Board of Economic Advisors reduced its revenue estimates Tuesday to just over $5.6 billion. The board previously had slashed more than $328 million from estimates.
It's another round of bad news for state agencies, workers and residents that may see programs cut and layoffs.
The board's action means legislators and Gov. Mark Sanford will start writing a budget with revenues locked in at current levels. Sanford already asked agencies to tell him how they would handle a 15-percent budget cut after most agencies have lost more than a fifth of their budget to reductions last year.
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