COLUMBIA — South Carolina’s financial oversight board is scheduled to get a briefing on the financial problems the state Department of Transportation is facing.
The state Budget and Control Board has the agency’s cash flow problems on its agenda for discussion Tuesday.
Legislators are reviewing what needs to be done to change state law after news broke this summer that the DOT had run short on cash and was delaying bill payments.
It is required to pay bills in 30 working days. But some bills were more than 60 days overdue.
The agency blamed that on flawed cash flow management that was made worse by policies that allowed contractors to do work faster than expected and get reimbursements earlier than planned.