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South Carolina Towns in Financial Crisis | Charleston News
South Carolina’s small towns are in financial freefall, with over 40% failing annual audits—often signaling fraud or mismanagement. While historic downtowns lie empty, a grassroots push for transparency and new business is sparking hope. State officials proposed hiring financial experts to prevent collapse, but lawmakers have ignored funding. Unlike North Carolina, which can shut down failing towns or reject risky bonds, South Carolina offers no such safeguards. Emerging solutions like “municipal circuit riders” and shared accounting software aim to standardize and cut costs. But real change…
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