COLUMBIA, S.C. (AP) — It turns out that $1.8 billion in South Carolina state funds weren’t just sitting in a bank account waiting to be spent. Instead, it was an accounting error compounded over years instead of being reconciled, an independent forensic audit determined.

A South Carolina Department of Administration report revealed the origins of a $1.8 billion accounting discrepancy that has puzzled lawmakers and residents alike.

An audit of South Carolina's state finances finds that the puzzling $1.8 billion account mostly never existed in the first place. The lengthy report, independently done by consulting firm AlixPartners,