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September 29
SCDOT Weekly Update - 7

The South Carolina Department of Transportation (SCDOT) has begun publishing a weekly update for the media and the public concerning the agency’s financial situation and other important matters. This is an effort to clarify information that has been circulating in public venues that may have been distorted or confusing.

     

·         SCDOT is in the final shutdown of the current financial system and transitioning to the new statewide SCEIS system.

 

·         SCDOT is using this week (September 26-30) to convert outstanding obligations such as purchase orders, contract payments, etc. Both payments and purchases have been suspended during this transition week. SCDOT gave prior notice to all vendors and contractors to allow them to prepare for this down time.

 

·        SCDOT will be active on the SCEIS system as of Monday October 3, 2011. Payments will resume during the week of October 3rd.  

 

  •    SCDOT’s cash balance position as of September 29, 2011 is as follows:

 

1)      The beginning balance on September 29, 2011 stood at $51,348,129.

 

2)      SCDOT will have outstanding approved invoices over 30 working days due to the SCEIS transition. The oldest contract payments, invoices and purchase orders will be paid first when the agency can resume making payments during the first week of October.

 

3)      SCDOT anticipates clearing all outstanding validated August invoices during the early part of October

 

4)      The agency is expecting $38 million in state motor fuel revenues to be received during the first week of October.