News and Press Releases for August 2007

Governor to Nominate Walldorf to Lead Budget and Control Board

August 13, 2007

Columbia, S.C. – Gov. Mark Sanford today announced his intention to nominate Chad Walldorf to lead the Budget and Control Board, as part of an effort to bring about much-needed reforms highlighted in the recent Government Efficiency and Accountability Review (GEAR).

Walldorf, 39, most recently chaired the GEAR Commission, which identified roughly $500 million in savings that could be achieved through reforms at the Budget and Control Board. South Carolina is the only state in the nation to have such an agency, which handles administrative functions of government performed by governors in 49 other states. The GEAR report again highlighted the need to address the $20 billion in unfunded retirement and retiree healthcare liabilities facing the state. Gov. Sanford said Chad’s recent work examining the Budget and Control Board’s operations make him the ideal candidate for the job.

“What has again been highlighted in the GEAR report is that the antiquated and chronically unaccountable structure of the Budget and Control Board is costing taxpayers in very real terms,” Gov. Sanford said. “Based upon the work he did with the GEAR report, I don’t think there’s anyone better qualified than Chad to take the reins of this agency and work toward addressing these much-needed reforms. As well, with his background in the private sector and experience running a successful corporation, I think he has the skill set needed to bring a greater degree of efficiency and transparency to this agency. I’m hopeful that the other members of the Budget and Control Board will support us in this nomination.”

Walldorf co-founded Sticky Fingers Restaurants in 1992, which over the past 15 years has grown from one location to 19 and employs over 1,100. Chad took a two-year sabbatical from his business beginning in January of 2003 to serve as a Deputy Chief of Staff to Governor Mark Sanford during the first two years of his administration.

Walldorf would succeed Henry White who resigned two weeks ago -- hours prior to the General Assembly’s election of a new Treasurer. The Treasurer is one of five voting members of the Budget and Control Board, which hires the Executive Director of the agency.