Posted on Tue, Feb. 22, 2005


RESTORING TRUSTS



Gov. Mark Sanford has proposed spending $158 million to return money to several funds depleted during recent tight budget years. They include:

BARNWELL

$25 million

• While not legally a trust fund, money is set aside to pay for monitoring and potential cleanup of the low-level nuclear waste site in Barnwell County. Radiation from waste at the site could linger for thousands of years.

INSURANCE RESERVES

$8.6 million

• Think of this as an insurance fund for state and local governments. It insures 1,500 doctors who work at state-run institutions, including the Medical University of South Carolina.

PINEWOOD TRUST

$942,000

• Like the Barnwell fund, the trust fund was established to help pay potential environmental problems at the hazardous waste landfill in Sumter County.

GENERAL RESERVE

$78 million next year, $50 million a year after that

• One of two “rainy day” accounts the General Assembly is required to maintain in case of emergencies.





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