The Board of Economic Advisors (BEA) serves as the state's economic consultant. The BEA provides forecasting and monitoring of the state's revenues which guides the state budgeting process.
Under S.C. Code of Laws § 11-9-1110, membership of the Board of Economic Advisors (BEA) is composed of:
- One member appointed by the Governor to serve as Chairman
- One member appointed by the Chairman of the Senate Finance Committee
- One member appointed by the Chairman of the House Ways and Means Committee
- Director of the Department of Revenue who serves ex officio with no voting rights
The Revenue and Fiscal Affairs Office (RFA) provides staffing and administrative support to the Board.
A Working Group, as defined under S.C. Code of Laws § 11-9-870 and supplemented with other key offices, provides input on revenue forecasts and analysis to RFA staff and the Board. Members include staff from:
- Governor's Office
- Senate Finance Committee
- House Ways and Means Committee
- Treasurer's Office
- Comptroller General's Office
- Executive Budget Office