A proposal by Gov. Mark Sanford to cut by a third a $30 million, lottery-funded program to lure top scientists to the state has drawn fire from South Carolina's leading research institutions.

Even while calling the program a "major asset" to the state, Sanford said the universities have been slow in raising private matching funds required to secure the funds.

"We're simply letting the promises catch up to the taxpayers' investment," said Will Folks, the governor's spokesman. "Nobody is saying endowed chairs are a bad investment."

The Research Centers of Economic Excellence program, also known as the Endowed Chairs program, is designed to boost economic activity by providing lottery funds to the Medical University of South Carolina, the University of South Carolina and Clemson University.

A nine-member board reviews proposed research projects and awards the money. But to get their hands on the money, the institutions must find matching dollars from private sources.

Now in its third year, the program has received $90 million in state funds, $30 million a year. Of those dollars, the review board has awarded $72.5 million. It is reviewing a list of 15 projects for the remaining $17.5 million and, potentially, funds from next year's appropriation.

Awards aside, Sanford pointed out that relatively little of the money has actually been distributed to the universities, a total of $19.5 million. What's more, Sanford says, the institutions have lured just two professors in the program's three years.

"Given the current excess capacity that is available for match, we believe that a $20 million appropriation in lottery funds would be more than sufficient next year," Sanford wrote in his budget proposal last month.

The universities, however, say Sanford has it all wrong.

The institutions have 18 months from the date of their awards to secure commitments for private funds. Those investors then have five years to send the money to the universities. The universities do not collect the state dollars until they have the private funds in hand.

While $19.5 million has been distributed, the universities say they have received pledges totaling $49 million. So far, they have received $30 million from investors.

"They haven't really made the case that the program isn't working," said Dr. John Raymond, the provost at MUSC. "It's incredibly unrealistic to expect that the minute a proposal is funded that matching funds would be in hand. It doesn't reflect reality."

Donald Tetreault, coordinator of academic affairs and licensing for the Commission on Higher Education, which administers the program, said the fact that universities have secured nearly $50 million in commitments is "remarkable."

Tetreault added that of the 17 projects awarded so far, nine have already matched the state's award with commitments for private dollars. "It would at least suggest the institutions have been very ambitious in trying to secure philanthropy," Tetreault said.

Legislators have the ultimate say over how big the Endowed Chairs program will be next year. State Rep. Chip Limehouse, R-Charleston and chairman of the Higher Education subcommittee of the House Ways and Means Committee, said lawmakers generally supported the program.

State Rep. Bobby Harrell, R-Charleston, who chairs the House Ways and Means Committee, said that South Carolina needs the program to get its universities on a footing more equal with those in North Carolina.

He pointed out that $1 billion in venture capital was invested in North Carolina companies last year, many of which were drawn to the state because of its universities. Only $14 million in venture capital was invested in the Palmetto State last year, he said.

"I wish we could afford to do more than $30 million, frankly," Harrell said.