George Kennedy, the State Auditor of South Carolina, has resigned from his position after serving for nine years. In his resignation letter to Governor Henry McMaster, Kennedy stated that it was in the best interest of the Office of the State Auditor that he step down. His responsibilities included conducting financial and compliance audits of the state, its agencies, and healthcare providers receiving Medicaid reimbursements.
Kennedy’s resignation comes following a $3.5 billion accounting error in the Comptroller General’s Office that auditors failed to catch. Kennedy had advised the comptroller general’s team back in 2017 to conduct a full reconciliation of the state’s accounts, a recommendation that was not implemented until recently. The state audit revealed a $1.8 billion discrepancy, which was attributed to a conversion error during the transition to a new financial system in the State Treasurer’s Office.
Despite his resignation, Kennedy did not directly address the budgeting issues but offered to assist in the transition of his office and provide input on how the State Auditor’s Office could be improved. Kennedy had taken office in October 2015 and his departure comes amidst financial challenges within the state government. Governor McMaster will now be tasked with appointing a new State Auditor to fill the vacancy left by Kennedy’s resignation.
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