July 27
SCDOT Financial Report #48

This update is released by the South Carolina Department of Transportation (SCDOT) each week to report the agency’s current fiscal status and to highlight recent accomplishments of the agency.  
SCDOT’s current financial status remains stable with a continued positive outlook.  Accordingly, SCDOT continues to process validated invoices in a timely manner.  The Comptroller General’s office has processed approximately $111 million in payments to SCDOT vendors, contractors and others so far in the month of July.  All debt service and South Carolina Transportation Infrastructure Bank payments are current.
SCDOT’s cash position on June 30th which is the end of the fiscal year was very good.  In addition SCDOT has continued to prepare, submit and receive Federal Reimbursements during the fiscal year end closing process.  This has allowed SCDOT to maintain a strong cash position.  In the past the Federal Reimbursement process has been disrupted by the fiscal year end closing schedule which had a negative effect on available cash.  This year SCDOT has successfully completed two Federal Reimbursements in the month of July and expects to submit three Federal Reimbursements in the month of August.