SCHEDULE 4
SOUTH CAROLINA STATE EDUCATION ASSISTANCE AUTHORITY
ENTERPRISE FUND
SCHEDULE OF EXPENSES AND CAPITAL ADDITIONS COMPARED TO BUDGET
YEAR ENDED JUNE 30, 1999
						Variance
						Favorable
Operating Expenses:		Budget		Actual		(Unfavorable)
Personnel:
Staff Salaries	$	1,039,600	$	949,712	$	89,888
Social Security		77,850		67,529		10,321
Group Insurance		206,500		194,778		11,722
Retirement - Defined Contribution		93,500		70,306		23,194
Unemployment		2,025		1,645		380
Total Personnel Before Retirement - Defined Benefit	$	1,419,475	$	1,283,970	$	135,505
Contractual:
Loan Servicing	$	194,500	$	185,880	$	8,620
Legal		10,200		1,449		8,751
Accounting		2,100		3,080		(980)
Credit Bureau Fees		13,200		10,375		2,825
Enrollment Verification		33,500		28,868		4,632
Total Contractual	$	253,500	$	229,652	$	23,848
General Operating:
Rent	$	65,500	$	62,152	$	3,348
Telephone		71,200		75,103		(3,903)
Printing		47,200		60,706		(13,506)
Postage		135,650		139,500		(3,850)
Supplies		26,000		28,787		(2,787)
Travel		35,000		24,411		10,589
Equipment Maintenance		12,750		10,393		2,357
Subscriptions & Fees		6,500		7,314		(814)
Meeting and Conference Expenses		1,500		1,486		14
Insurance - General and Automotive		17,100		8,660		8,440
Contingencies		15,000		13,220		1,780
Depreciation		-		45,327		(45,327)
Total General Operating	$	433,400	$	477,059	$	(43,659)
Capital Additions:
Equipment, Furniture and Fixtures	$	92,000	$	276,045	$	(184,045)
Total Personnel Expenses Before Retirement - Defined
Benefit			$	1,283,970
Retirement - Defined Benefit				225,391
Total Personnel Expenses			$	1,509,361
Total Contractual				229,652
Total General Operating				477,059
Total Operating Expenses			$	2,216,072
South Carolina Student Loan Corporation Operating Costs				5,182,592
Other Expenses:
Interest on Bonds				18,349,448
Amortization - Deferred Cost of Bond Issuance				118,732
Default Aversion Fee Expense				1,479,043
Other Fees				1,621,732
Total Expenses			$	28,967,619