As required by state law, the Education Oversight Committee approved budget recommendations for Fiscal Year 2021-22 at a full committee meeting on December 15, 2020. These recommendations focus on the revenues generated by the one-cent sales tax dedicated to public education, the Education Improvement Act.
The committee’s recommendations are dedicated to improving educational opportunities for students and to supporting the teaching profession. These recommendations will be forwarded to the Governor and General Assembly for their consideration in the upcoming budget deliberations.
Members met throughout the fall, reviewing and hearing public comment on the budget needs. The most recent revenue projections for Fiscal Year 2021-22, issued by the Board of Economic Advisors (BEA) in November, show a $17.7 million surplus for 2020-21. The estimated growth estimate for fiscal year 2021-22 is $44.7 million. As compared to Pre-COVID projections, EIA growth was reduced by over $50 million.
Read the news release: https://eoc.sc.gov/news/2020-12/eoc-issues-eia-budget-recommendations
For information, contact Dana Yow, SC Education Oversight Committee (EOC), at 803-734-6148.